Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0018%/8h= +2.0% APRpaid last 24h −0.022%

Price spread now: Kraken Futures against BingX+0.060%7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.060%, 7d avg +0.020%

Together, before fees−0.052%−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kraken Futures is 0.040% dearer against BingX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.020%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX XAUT-USDT	4,356.7	0.0100	pay 0.0050% / 4h	3h 00m	—	$17.9M	—
Short	Kraken Futures PF_XAUTUSD	4,359.3	0.0118	get 0.0015% / 1h	0m 49s	$5.3M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.060%Rate

Funding earned: $3.82
Price spread: +0.060% → +0.020%: $3.96
Slippage, 4 orders: −$3.14
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$15.36
Costs to cover: 0.231%
Break-even: 35.2 days

Slippage from BingX: live order book, 7 min ago; Kraken Futures: live order book, 3 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 BingX live order book, 7 min ago	0.08 bp	5.3 bp −$5	6.2 bp −$62	9.8 bp −$976	39.8 bp −$19.9K
Sell Kraken Futures live order book, 3 min ago	0.57 bp	6.0 bp −$6	7.2 bp −$72	15.3 bp −$1,530	doesn't fit

XAUT on 20 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
Aftermath Perps XAUTUSD	−0.0274%	1h	4,357.5	+0.020%	$56K	$30K	20x	as long as short
Bitget XAUTUSDT	−0.0048%	4h	4,355.6	−0.025%	$25.9M	$15.3M	75x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,358.3	+0.037%	$131.0M	$8.2M	100x	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	−0.158%	$8K	$149K	30x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,357.8	+0.026%	$10.2M	$2.0M	25x	as long as short
Variational Omni XAUT	+0.0099%	4h	4,355.4	−0.030%	$33.1M	$3.5M	—	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,356.2	−0.012%	$4.2M	$981K	10x	as long as short
Binance XAUTUSDT	+0.0100%	4h	4,357.6	+0.020%	$35.4M	$46.7M	75x	as long as short
Bybit XAUTUSDT	+0.0100%	4h	4,356.4	−0.006%	$120.8M	$27.8M	75x	as long as short
MEXC XAUT_USDT	+0.0100%	4h	4,356.8	+0.003%	$336.0M	$285.0M	1000x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XAUTUSDTM	+0.0100%	4h	4,358.8	+0.048%	$11.4M	$2.9M	75x	as long as short
BingX XAUT-USDTlong	+0.0100%	4h	4,356.7	long leg	—	$17.9M	—
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,356.9	+0.005%	$810	$114K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,357.4	+0.017%	$268	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,358.5	+0.041%	$1.9M	$221K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,362.8	+0.140%	$2K	$3.6M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,354.3	−0.055%	$1.8M	$231K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,355.4	−0.029%	$272K	$231K	25x	as long as short
Kraken Futures PF_XAUTUSDshort	+0.0118%	1h	4,359.3	+0.060%	$5.3M	$4.0M	50x
BloFin XAUT-USDT	+0.0340%	4h	4,355.8	−0.020%	$2.3M	$1.6M	75x	as long as short