Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h −0.030%

Price spread now: Kalshi against ApeX Omni−0.051%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.224%−$22 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now −0.051%, 7d avg −0.054%

Together, before fees−0.164%−$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.054%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,352.6	0.0100	pay 0.0013% / 1h	12m 54s	$275K	$204K	50x
Short	Kalshi KXGOLDPERP	4,350.4	0.0034	get 0.0102% / 24h	12h 12m	$4.1M	$36.1M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now −0.051%Rate

Funding earned: −$13.83
Price spread: −0.051% → −0.054%: $0.23
Slippage, 4 orders: −$27.93
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$61.53
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 54 min ago; Kalshi: live order book, 1 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 ApeX Omni live order book, 54 min ago	4.15 bp	15.7 bp −$16	25.2 bp −$252	35.0 bp −$3,499	doesn't fit
Sell Kalshi live order book, 1 min ago	0.12 bp	7.2 bp −$7	7.4 bp −$74	9.9 bp −$985	doesn't fit

XAU on 38 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
Gate XAU_USDT	0.0000%	4h	4,354	+0.032%	$263.4M	$414.4M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,357.1	+0.103%	$93K	$9.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,347.9	−0.108%	$269K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,351.2	−0.033%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,348.7	−0.091%	$13.5M	$41.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.051%	$619	$54	52x	as long as short
Kalshi KXGOLDPERPshort	+0.0034%	24h	4,350.4	−0.051%	$4.1M	$36.1M	15x
Aster XAUUSD1	+0.0035%	4h	4,353.1	+0.010%	$70.4M	$301.9M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,358.7	+0.139%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.7	+0.783%	—	$1.0M	25x	as long as short

Show all 38 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,349.3	−0.077%	$294.0M	$48.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,349.7	−0.067%	$14.9M	$58.0M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,353.6	+0.022%	$5.6M	$1.9M	20x	as long as short
Lighter XAU	+0.0056%	1h	4,351.4	−0.029%	$20.6M	$43.7M	25x	as long as short
Lighter RH XAU	+0.0064%	1h	4,353.7	+0.023%	$20.1M	$41.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,349.3	−0.077%	$2.0M	$5.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0076%	1h	4,352.2	−0.010%	$4.3M	$1.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0083%	8h	4,353.8	+0.027%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0086%	4h	4,356	+0.078%	$48.2M	$28.1M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,351.4	−0.028%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,352.6	long leg	$275K	$204K	50x
Bluefin GOLD-PERP	+0.0100%	1h	4,347	−0.128%	$25K	$14K	20x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,352.6	0.000%	$375.3M	$324.1M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,351.8	−0.019%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0105%	4h	4,352.4	−0.006%	$409.0M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,351.9	−0.017%	$30.3M	$60.0M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0120%	4h	4,355.1	+0.057%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0121%	1h	4,356.9	+0.098%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,352.9	+0.006%	$3.4M	$12.4M	25x	as long as short
Bullet GOLD-USD	+0.0168%	1h	4,352.7	+0.003%	$59K	$83K	10x	as long as short
Bybit XAUUSDT	+0.0180%	4h	4,353	+0.008%	$83.6M	$144.2M	150x	as long as short
Bitget XAUUSDT	+0.0186%	4h	4,352.5	−0.002%	$69.5M	$109.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,350.7	−0.044%	$249K	$679K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0239%	8h	4,353.7	+0.025%	$164.8M	$281.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,349.8	−0.065%	$593K	$139K	25x	as long as short
Phemex XAUUSDT	+0.0363%	4h	4,355.5	+0.066%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0391% / S −0.0197%	1h	4,352.4	−0.005%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0563%	4h	4,358.7	+0.140%	$2.9M	$3.9M	75x	as long as short