Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.049%

Price spread now: Kraken Futures against Variational Omni−0.025%7-day average −0.057% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

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)−0.024%−$2 · spread now −0.025%, 7d avg −0.057%

Together, before fees+0.103%+ Points / potential airdropVariational Omni: Active · farm board+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.032% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,340.8	0.0082	pay 0.0041% / 4h	3h 47m	$48.4M	$27.6M	—
Short	Kraken Futures PF_XAUUSD	4,339.7	0.0259	get 0.0032% / 1h	47m 25s	$592K	$132K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.025%Rate

Funding earned: $37.26
Price spread: −0.025% → −0.057%: $3.23
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $30.49
Costs to cover: 0.100%
Break-even: 1.3 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kraken Futures: live order book, 6 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 Variational Omni RFQ quote, 2 min ago	1.55 bp	doesn't fit	1.6 bp −$16	4.4 bp −$437	doesn't fit
Sell Kraken Futures live order book, 6 min ago	2.36 bp	8.5 bp −$8	16.5 bp −$165	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
SunX XAU-USDT	0.0000%	4h	4,346.6	+0.134%	$92K	$8.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,338.8	−0.046%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,342.6	+0.041%	$3.5M	$12.1M	25x	as long as short
Bluefin GOLD-PERP	+0.0012%	1h	4,335.8	−0.116%	$25K	$14K	20x	as long as short
Lighter RH XAU	+0.0032%	1h	4,343.9	+0.070%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,338.9	−0.045%	$13.3M	$37.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.221%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,343.3	+0.057%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,342.1	+0.030%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.2	+0.792%	—	$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	4,341.8	+0.023%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,339.8	−0.023%	$293.5M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,339.4	−0.033%	$15.1M	$56.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0051%	24h	4,338.8	−0.046%	$4.3M	$37.5M	15x	as long as short
Gate XAU_USDT	+0.0052%	4h	4,344.5	+0.084%	$267.9M	$411.7M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,340.1	−0.016%	$2.1M	$4.8M	25x	as long as short
Bybit XAUUSDT	+0.0058%	4h	4,343.7	+0.067%	$80.5M	$150.6M	150x	as long as short
Aster XAUUSD1	+0.0074%	4h	4,344.2	+0.078%	$71.5M	$332.5M	20x	as long as short
Paradex XAU-USD-PERP	+0.0082%	8h	4,342.6	+0.040%	$19K	$5K	5x	as long as short
Variational Omni XAUlong	+0.0082%	4h	4,340.8	long leg	$48.4M	$27.6M	—
MEXC XAU_USDT	+0.0098%	4h	4,343.1	+0.054%	$372.5M	$317.5M	1000x	as long as short
Binance XAUUSDT	+0.0099%	4h	4,343	+0.051%	$415.0M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,339.3	−0.035%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337	−0.088%	$274K	$203K	50x	as long as short
edgeX XAUUSDC	+0.0101%	4h	4,336.2	−0.107%	$30.2M	$58.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,341.7	+0.020%	$161K	$87	10x	as long as short
Hotstuff GOLD-PERP	+0.0112%	1h	4,339.6	−0.028%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0136%	1h	4,338.3	−0.058%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0166%	4h	4,341.6	+0.019%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0196%	4h	4,343.9	+0.072%	$2.2M	$967K	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0211%	1h	4,341.1	+0.007%	$205K	$826K	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343	+0.051%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,343	+0.050%	$4.3M	$2.0M	20x	as long as short
Bitget XAUUSDT	+0.0242%	4h	4,343.2	+0.054%	$71.1M	$109.4M	100x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0259%	1h	4,339.7	−0.025%	$592K	$132K	25x
OKX XAU-USDT-SWAP	+0.0315%	8h	4,344.7	+0.089%	$166.3M	$281.5M	100x	as long as short
BloFin XAU-USDT	+0.0349%	4h	4,341.7	+0.021%	$15.6M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0251%	1h	4,343.1	+0.053%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0527%	4h	4,346	+0.119%	$2.8M	$4.6M	75x	as long as short