Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h +0.020%

Price spread now: Kraken Futures against Bitget−0.070%48s7-day average −0.073% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.310% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.108%+$11 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.070%, 7d avg −0.073%

Together, before fees+0.229%+$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.073%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,347.5	0.0208	pay 0.0104% / 4h	1h 46m	$69.6M	$109.3M	100x
Short	Kraken Futures PF_XAUUSD	4,344.5	0.0270	get 0.0034% / 1h	46m 25s	$593K	$133K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.070%Rate

Funding earned: $12.97
Price spread: −0.070% → −0.073%: $0.29
Slippage, 4 orders: −$9.02
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$17.76
Costs to cover: 0.310%
Break-even: 16.6 days

Slippage from Bitget: live order book, 3 min ago; Kraken Futures: live order book, 17 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 Bitget live order book, 3 min ago	0.01 bp	7.3 bp −$7	8.6 bp −$86	11.5 bp −$1,151	doesn't fit
Sell Kraken Futures live order book, 17 min ago	2.06 bp	9.7 bp −$10	17.7 bp −$177	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
Hotstuff GOLD-PERP	−0.0016%	1h	4,344.4	−0.072%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,348.9	+0.031%	$264.7M	$407.3M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352.1	+0.105%	$92K	$9.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.7	−0.111%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,347.2	−0.007%	$3.4M	$12.4M	25x	as long as short
Bluefin GOLD-PERP	+0.0012%	1h	4,341.9	−0.129%	$25K	$14K	20x	as long as short
Extended XAU-USD	+0.0032%	1h	4,342.9	−0.106%	$13.6M	$39.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.067%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0037%	24h	4,345.1	−0.055%	$4.2M	$36.4M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348.3	+0.018%	$3.8M	$4.6M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,380.1	+0.750%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,346.8	−0.016%	$5.6M	$1.9M	20x	as long as short
Aster XAUUSD1	+0.0047%	4h	4,348.2	+0.017%	$70.0M	$331.4M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.1	−0.101%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.6	−0.067%	$293.3M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.8	−0.086%	$15.1M	$57.7M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,345.8	−0.040%	$20.6M	$41.9M	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,348.4	+0.021%	$20.1M	$39.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,346.7	−0.019%	$19K	$5K	5x	as long as short
Binance XAUUSDT	+0.0098%	4h	4,347.1	−0.009%	$411.2M	$2.10B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,344.1	−0.078%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,347.4	−0.003%	$371.2M	$316.6M	1000x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,344	−0.081%	$274K	$203K	50x	as long as short
Variational Omni XAU	+0.0102%	4h	4,347.9	+0.008%	$48.3M	$27.9M	—	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.6	−0.022%	$161K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0118%	4h	4,349.4	+0.044%	$1.4M	$3.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0118%	1h	4,346.4	−0.026%	$4.3M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0126%	4h	4,342.6	−0.113%	$30.2M	$58.9M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,347.8	+0.007%	$47K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0201%	4h	4,348.2	+0.017%	$84.3M	$145.1M	150x	as long as short
Bitget XAUUSDTlong	+0.0208%	4h	4,347.5	long leg	$69.6M	$109.3M	100x
Bullet GOLD-USD	+0.0210%	1h	4,347.4	−0.003%	$58K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0233%	1h	4,345.8	−0.039%	$259K	$704K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0248%	8h	4,347.9	+0.009%	$164.3M	$282.4M	100x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0270%	1h	4,344.5	−0.070%	$593K	$133K	25x
Phemex XAUUSDT	+0.0352%	4h	4,351	+0.079%	$2.2M	$1.1M	100x	as long as short
BloFin XAU-USDT	+0.0366%	4h	4,347.8	+0.007%	—	$4.7M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0399% / S −0.0209%	1h	4,347.4	−0.003%	$251K	—	111x	as long as short
HTX XAU-USDT	+0.0580%	4h	4,353.1	+0.128%	$2.8M	$4.2M	75x	as long as short