Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0155%/8h= −17.0% APRpaid last 24h −0.049%

Price spread now: Variational Omni against Kraken Futures+0.062%7-day average +0.057% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.127%−$13 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now +0.062%, 7d avg +0.057%

Together, before fees−0.140%+ Points / potential airdropVariational Omni: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.057%, so right now this pair is about funding alone: −$5 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	4,341.2	0.0259	pay 0.0032% / 1h	20m 24s	$592K	$132K	25x
Short	Variational Omni XAU	4,343.9	0.0104	get 0.0052% / 4h	3h 20m	$48.3M	$27.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.062%Rate

Funding earned: −$32.51
Price spread: +0.062% → +0.057%: $0.46
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$42.05
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 33 min ago; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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, 33 min ago	2.36 bp	8.4 bp −$8	12.2 bp −$122	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 4 min ago	1.54 bp	doesn't fit	1.5 bp −$15	3.2 bp −$318	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
SunX XAU-USDT	0.0000%	4h	4,348.9	+0.176%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,340.7	−0.011%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,345.1	+0.089%	$3.9M	$12.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0023%	1h	4,337.8	−0.079%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,340.9	−0.009%	$13.3M	$37.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.212%	$619	$54	52x	as long as short
Bybit XAUUSDT	+0.0036%	4h	4,345.8	+0.105%	$79.9M	$152.2M	150x	as long as short
StandX XAU-USD	+0.0040%	1h	4,344.6	+0.077%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.3	+0.071%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,377.4	+0.833%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0048%	1h	4,344.1	+0.065%	$20.7M	$34.7M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,341.3	+0.001%	$293.7M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.1	+0.021%	$15.0M	$56.9M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,341.6	+0.008%	$4.3M	$37.4M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,341.4	+0.004%	$2.1M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0059%	8h	4,344.5	+0.075%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0072%	1h	4,346.7	+0.125%	$20.2M	$40.0M	25x	as long as short
Gate XAU_USDT	+0.0092%	4h	4,346.7	+0.126%	$269.3M	$417.3M	100x	as long as short
Aster XAUUSD1	+0.0092%	4h	4,346.1	+0.113%	$71.5M	$331.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.2	−0.001%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,340.6	−0.016%	$274K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,340.9	−0.008%	$33K	—	25x	as long as short
Variational Omni XAUshort	+0.0104%	4h	4,343.9	+0.062%	$48.3M	$27.5M	—
Aevo XAU-PERP	+0.0112%	1h	4,343.8	+0.060%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0118%	4h	4,345.1	+0.088%	$371.7M	$320.5M	1000x	as long as short
Binance XAUUSDT	+0.0118%	4h	4,344.9	+0.085%	$418.5M	$2.09B	100x	as long as short
Phoenix GOLD	+0.0136%	1h	4,340.5	−0.017%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0137%	4h	4,338.4	−0.065%	$30.2M	$58.2M	50x	as long as short
Phemex XAUUSDT	+0.0183%	4h	4,345	+0.087%	$2.2M	$967K	100x	as long as short
GRVT XAU_USDT_Perp	+0.0204%	4h	4,341.2	−0.002%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,345	+0.087%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0214%	1h	4,344.6	+0.077%	$4.3M	$2.0M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,343.1	+0.043%	$205K	$826K	25x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0259%	1h	4,341.2	long leg	$592K	$132K	25x
Bitget XAUUSDT	+0.0266%	4h	4,345.2	+0.092%	$71.0M	$109.2M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0326%	8h	4,345.7	+0.103%	$167.2M	$282.2M	100x	as long as short
BloFin XAU-USDT	+0.0358%	4h	4,341.8	+0.013%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,345.2	+0.090%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0560%	4h	4,346.5	+0.122%	$2.8M	$4.6M	75x	as long as short