XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0214%/8h= −23.4% APRnext payment −$0.27 per $10,000 · paid last 24h −0.053%

Price spread now: Lighter RH against Kraken Futures+0.087%7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on Kraken Futures Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.236%−$24 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now +0.087%, 7d avg +0.083%

Together, before fees−0.350%+ Points / potential airdropLighter RH: Points live · farm board−$35 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.083%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,345.2	0.0270	pay 0.0034% / 1h	1m 18s	$593K	$133K	25x
Short	Lighter RH XAU	4,349	0.0056	get 0.0007% / 1h	1m 18s	$20.1M	$40.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee Lighter RHbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$44.88
Price spread: +0.087% → +0.083%: $0.41
Slippage, 4 orders: −$8.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$63.2
Costs to cover: 0.187%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 62 min ago; Lighter RH: live order book, 3 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 62 min ago	2.06 bp	7.9 bp −$8	11.3 bp −$113	47.5 bp −$4,752	doesn't fit
Sell Lighter RH live order book, 3 min ago	0.17 bp	0.9 bp −$1	1.6 bp −$16	3.9 bp −$387	doesn't fit

XAU on 39 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOLD-PERP	0.0000%	1h	4,344.9	−0.008%	$33K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.5	+0.145%	$92K	$9.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,344.2	−0.023%	$266K	—	250x	as long as short
Gate XAU_USDT	+0.0004%	4h	4,350	+0.109%	$264.6M	$418.5M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.8	+0.059%	$3.4M	$12.3M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.9	−0.032%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.119%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.070%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,345.8	+0.013%	$4.1M	$37.1M	15x	as long as short
Aster XAUUSD1	+0.0042%	4h	4,348.3	+0.071%	$70.9M	$334.1M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380.5	+0.812%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,347.2	+0.045%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,347	+0.040%	$20.6M	$42.7M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,344.2	−0.024%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.9	−0.008%	$293.8M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,344.4	−0.019%	$15.1M	$56.7M	25x	as long as short
Lighter RH XAUshort	+0.0056%	1h	4,349	+0.087%	$20.1M	$40.0M	25x
Variational Omni XAU	+0.0057%	4h	4,346	+0.018%	$48.5M	$27.7M	—	as long as short
GRVT XAU_USDT_Perp	+0.0062%	4h	4,348.6	+0.078%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0075%	4h	4,342.6	−0.061%	$30.2M	$58.6M	50x	as long as short
MEXC XAU_USDT	+0.0076%	4h	4,347.6	+0.054%	$371.1M	$320.9M	1000x	as long as short
Binance XAUUSDT	+0.0077%	4h	4,348.2	+0.068%	$411.2M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0079%	8h	4,347.6	+0.055%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,347.2	+0.045%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.1	−0.026%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344.7	−0.012%	$274K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,347.2	+0.045%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,345.3	+0.001%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0194%	4h	4,349.6	+0.101%	$2.2M	$972K	100x	as long as short
Bullet GOLD-USD	+0.0194%	1h	4,348.2	+0.067%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0212%	4h	4,349.6	+0.101%	$84.4M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0220%	4h	4,348.6	+0.076%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,349.5	+0.098%	$165.4M	$283.3M	100x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0270%	1h	4,345.2	long leg	$593K	$133K	25x
BloFin XAU-USDT	+0.0308%	4h	4,347.6	+0.054%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0320%	1h	4,342.5	−0.063%	$25K	$14K	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0394%	1h	4,347.3	+0.047%	$268K	$767K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0406% / S −0.0221%	1h	4,348.2	+0.067%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0596%	4h	4,353.5	+0.191%	$2.9M	$4.3M	75x	as long as short