XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0179%/8h= +19.6% APRnext payment +$0.22 per $10,000 · paid last 24h +0.074%

Price spread now: Kraken Futures against Lighter−0.049%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs+$2as in the Funding arb table

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

costs, in and out, $10k−$160.156% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.173%+$17 on $10k

Price spread, last 3 days (all we have)+0.010%+$1 · spread now −0.049%, 7d avg −0.022%

Together, before fees+0.184%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.028% cheaper against Lighter than usual: you would sell low and buy high (spread −0.049% now, against its 7-day average of −0.022%). If the spread goes back, that is −$3 on $10k: about 12 hours of funding at the current rate (+$5 a day). At the pace of the last 7 days (+0.173% in total) that is about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,370.3	0.0040	pay 0.0005% / 1h	15m 10s	$20.8M	$44.9M	25x
Short	Kraken Futures PF_XAUUSD	4,368.1	0.0219	get 0.0027% / 1h	15m 10s	$603K	$137K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Lighter. 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 LighterbpFee Kraken FuturesbpOrdersPrice spread, now −0.049%Rate

Funding earned: $37.68
Price spread: −0.049% → −0.022%: −$2.76
Slippage, 4 orders: −$5.63
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $19.29
Costs to cover: 0.156%
Break-even: 3.4 days

Slippage from Lighter: live order book, 4 min ago; Kraken Futures: live order book, 63 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 Lighter live order book, 4 min ago	0.53 bp	0.6 bp −$1	1.6 bp −$16	7.7 bp −$773	17.8 bp −$8,922
Sell Kraken Futures live order book, 63 min ago	1.66 bp	6.8 bp −$7	14.7 bp −$147	doesn't fit	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
Bluefin GOLD-PERP	−0.0230%	1h	4,363.3	−0.160%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	−0.0008%	1h	4,366.9	−0.077%	$33K	—	25x	as long as short
Phoenix GOLD	−0.0004%	1h	4,370.3	+0.001%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,371.3	+0.022%	$71.9M	$224.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,371	+0.018%	$410.8M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,371.7	+0.032%	$82.8M	$142.6M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,371	+0.017%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,371.3	+0.023%	$267.4M	$417.7M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,370.9	+0.015%	$376.1M	$324.1M	1000x	as long as short
Bitget XAUUSDT	0.0000%	4h	4,370.6	+0.008%	$69.6M	$113.4M	100x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAU	0.0000%	4h	4,370.5	+0.005%	$48.5M	$29.3M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,371	+0.017%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,368.2	−0.047%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375	+0.107%	$93K	$10.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,366.5	−0.086%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,365.9	−0.101%	$30.4M	$59.4M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,370	−0.006%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.454%	$619	$54	52x	as long as short
Lighter XAUlong	+0.0040%	1h	4,370.3	long leg	$20.8M	$44.9M	25x
StandX XAU-USD	+0.0040%	1h	4,371.8	+0.035%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,404.8	+0.790%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,366.6	−0.084%	$294.2M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,367	−0.076%	$14.7M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,370.5	+0.006%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0056%	1h	4,372.9	+0.060%	$20.2M	$42.3M	25x	as long as short
Extended XAU-USD	+0.0064%	1h	4,366.6	−0.083%	$13.1M	$45.5M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,369.9	−0.008%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,367.4	−0.066%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,368.6	−0.039%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0104%	1h	4,370	−0.006%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0111%	1h	4,370.7	+0.009%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,367.2	−0.070%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,371.3	+0.024%	$158.6M	$274.4M	100x	as long as short
HTX XAU-USDT	+0.0186%	4h	4,377	+0.154%	$2.8M	$3.8M	75x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0219%	1h	4,368.1	−0.049%	$603K	$137K	25x
BloFin XAU-USDT	+0.0240%	4h	4,370.9	+0.014%	$14.8M	$4.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0254%	1h	4,369.8	−0.011%	$235K	$736K	25x	as long as short
Phemex XAUUSDT	+0.0320%	4h	4,370.9	+0.014%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,370.7	+0.009%	$252K	—	111x	as long as short