Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Kalshi against SunX−0.145%7-day average −0.195% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$710.707% of the position

Long on SunX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now −0.145%, 7d avg −0.195%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Kalshi is 0.049% dearer against SunX than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.195%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAU-USDT	4,381.5	0	get 0.0000% / 4h	3h 48m	$93K	$10.4M	20x
Short	Kalshi KXGOLDPERP	4,375.1	0	get 0.0000% / 24h	13h 48m	$4.0M	$36.6M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SunX. 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 SunXbpFee KalshibpOrdersPrice spread, now −0.145%Rate

Funding earned: $0
Price spread: −0.145% → −0.195%: $4.93
Slippage, 4 orders: −$52.75
Fee SunX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$65.82
Costs to cover: 0.707%
Break-even: never at this rate

Slippage from SunX: live order book, 11 min ago; Kalshi: live order book, 6 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 SunX live order book, 11 min ago	23.72 bp	27.7 bp −$28	40.7 bp −$407	doesn't fit	doesn't fit
Sell Kalshi live order book, 6 min ago	0.11 bp	6.0 bp −$6	6.4 bp −$64	8.4 bp −$838	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	−0.0098%	1h	4,370.2	−0.257%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	−0.0032%	1h	4,373.8	−0.175%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.6	−0.110%	$71.3M	$209.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.7	−0.109%	$410.3M	$2.15B	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,377.5	−0.092%	$374.1M	$321.3M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,374.3	−0.163%	$48.7M	$27.9M	—	as long as short
Kalshi KXGOLDPERPshort	0.0000%	24h	4,375.1	−0.145%	$4.0M	$36.6M	15x
SunX XAU-USDTlong	0.0000%	4h	4,381.5	long leg	$93K	$10.4M	20x
Bitget XAUUSDT	+0.0002%	4h	4,376.5	−0.113%	$69.8M	$114.3M	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,373.3	−0.186%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XAUUSDC	+0.0007%	4h	4,369.8	−0.266%	$30.4M	$60.0M	50x	as long as short
Gate XAU_USDT	+0.0026%	4h	4,378.6	−0.065%	$266.5M	$409.1M	100x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.709%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.1	−0.123%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,376.6	−0.111%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,410.9	+0.672%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,377.6	−0.088%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,373.6	−0.180%	$294.8M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,372.7	−0.201%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	−0.141%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0068%	8h	4,377.2	−0.097%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,376.3	−0.119%	$20.8M	$43.3M	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,378.6	−0.065%	$20.3M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,376.1	−0.123%	$162K	$87	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,374.9	−0.150%	$2.0M	$5.1M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0099%	1h	4,375.7	−0.132%	$4.3M	$1.8M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,374.2	−0.166%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	−0.188%	$277K	$204K	50x	as long as short
Extended XAU-USD	+0.0112%	1h	4,373.2	−0.190%	$13.3M	$44.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0171%	8h	4,378.8	−0.061%	$161.0M	$281.2M	100x	as long as short
Bybit XAUUSDT	+0.0173%	4h	4,377.2	−0.098%	$83.4M	$144.6M	150x	as long as short
Bullet GOLD-USD	+0.0180%	1h	4,377.3	−0.095%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0207%	1h	4,375.5	−0.136%	$236K	$655K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0224%	1h	4,375	−0.147%	$597K	$146K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0234%	4h	4,375.8	−0.129%	$1.4M	$3.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,378.3	−0.071%	$14.8M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0267%	4h	4,377.9	−0.082%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,377.3	−0.095%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0502%	4h	4,383.1	+0.037%	$2.9M	$3.8M	75x	as long as short