XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0057%/8h= −6.3% APRnext payment −$0.07 per $10,000 · paid last 24h +0.034%

Price spread now: Kraken Futures against Polymarket Perps−0.073%7-day average −0.003% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.218%+$22 on $10k

Price spread, last 4 days (all we have)+0.097%+$10 · spread now −0.073%, 7d avg −0.003%

Together, before fees+0.314%+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.070% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.003%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.218%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,322.3	0.0211	pay 0.0026% / 1h	21m 50s	$4.3M	$1.9M	20x
Short	Kraken Futures PF_XAUUSD	4,319.2	0.0154	get 0.0019% / 1h	21m 50s	$584K	$135K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Polymarket Perps. 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 Polymarket PerpsbpFee Kraken FuturesbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$12.05
Price spread: −0.073% → −0.003%: −$6.99
Slippage, 4 orders: −$10.05
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$47.09
Costs to cover: 0.281%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Kraken Futures: live order book, 21 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 Polymarket Perps live order book, 2 min ago	0.12 bp	4.1 bp −$4	4.8 bp −$48	5.7 bp −$566	doesn't fit
Sell Kraken Futures live order book, 21 min ago	3.15 bp	11.0 bp −$11	20.3 bp −$203	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	−0.0060%	1h	4,317	−0.123%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.5	+0.096%	$92K	$7.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.3	−0.092%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0017%	4h	4,324.3	+0.046%	$77.4M	$154.8M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.651%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,323.4	+0.025%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,321.7	−0.014%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.7	+0.750%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.3	−0.069%	$291.5M	$51.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,318	−0.099%	$15.0M	$55.4M	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	+0.0064%	1h	4,322.5	+0.005%	$20.3M	$30.7M	25x	as long as short
Aster XAUUSD1	+0.0067%	4h	4,324.7	+0.056%	$72.5M	$275.6M	20x	as long as short
Hotstuff GOLD-PERP	+0.0072%	1h	4,318.6	−0.086%	$32K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,318.4	−0.090%	$2.1M	$4.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0076%	8h	4,322.6	+0.006%	$2K	$13K	5x	as long as short
Kalshi KXGOLDPERP	+0.0078%	24h	4,323.7	+0.032%	$3.8M	$43.7M	15x	as long as short
GRVT XAU_USDT_Perp	+0.0082%	4h	4,323.1	+0.019%	$1.4M	$3.0M	25x	as long as short
Variational Omni XAU	+0.0090%	4h	4,322.1	−0.004%	$47.3M	$28.9M	—	as long as short
Extended XAU-USD	+0.0096%	1h	4,318.3	−0.092%	$12.9M	$37.0M	25x	as long as short
MEXC XAU_USDT	+0.0096%	4h	4,323.4	+0.026%	$362.1M	$331.0M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,323.5	+0.028%	$423.2M	$2.13B	100x	as long as short
Phoenix GOLD	+0.0100%	1h	4,319.6	−0.062%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.6	−0.062%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,319.8	−0.057%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,321.5	−0.018%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0108%	4h	4,318.8	−0.082%	$30.0M	$59.5M	50x	as long as short
Lighter RH XAU	+0.0112%	1h	4,324.9	+0.061%	$19.9M	$38.9M	25x	as long as short
Gate XAU_USDT	+0.0112%	4h	4,325	+0.062%	$281.0M	$419.5M	100x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0154%	1h	4,319.2	−0.073%	$584K	$135K	25x
Bullet GOLD-USD	+0.0181%	1h	4,322.4	+0.003%	$59K	$82K	10x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,324.9	+0.061%	$4.1M	$12.9M	25x	as long as short
Polymarket Perps GOLD-USDlong	+0.0211%	1h	4,322.3	long leg	$4.3M	$1.9M	20x
Bitget XAUUSDT	+0.0222%	4h	4,323.4	+0.026%	$67.6M	$118.1M	100x	as long as short
HTX XAU-USDT	+0.0264%	4h	4,325.4	+0.073%	$2.8M	$4.9M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0301%	8h	4,323.4	+0.025%	$171.8M	$298.4M	100x	as long as short
Phemex XAUUSDT	+0.0322%	4h	4,324.8	+0.057%	$2.2M	$966K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0329%	1h	4,320.7	−0.037%	$191K	$836K	25x	as long as short
BloFin XAU-USDT	+0.0337%	4h	4,322.7	+0.009%	$16.2M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,322.6	+0.007%	$252K	—	111x	as long as short