Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0258%/8h= −28.3% APRpaid last 24h +0.029%

Price spread now: Kraken Futures against HTX−0.157%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$340.337% of the position

Long on HTX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.189%+$19 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.157%, 7d avg −0.117%

Together, before fees+0.253%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Kraken Futures is 0.040% cheaper against HTX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.117%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.189%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAU-USDT	4,359.5	0.0527	pay 0.0264% / 4h	2h 37m	$2.9M	$3.9M	75x
Short	Kraken Futures PF_XAUUSD	4,352.7	0.0269	get 0.0034% / 1h	37m 48s	$594K	$141K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against HTX. 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 HTXbpFee Kraken FuturesbpOrdersPrice spread, now −0.157%Rate

Funding earned: −$54.22
Price spread: −0.157% → −0.117%: −$4.02
Slippage, 4 orders: −$11.72
Fee HTX: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$91.96
Costs to cover: 0.337%
Break-even: never at this rate

Slippage from HTX: live order book, 1 min ago; Kraken Futures: live order book, 30 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 HTX live order book, 1 min ago	0.01 bp	8.4 bp −$8	12.9 bp −$129	29.2 bp −$2,923	doesn't fit
Sell Kraken Futures live order book, 30 min ago	1.57 bp	9.0 bp −$9	17.3 bp −$173	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
Bluefin GOLD-PERP	−0.0323%	1h	4,348.4	−0.254%	$25K	$14K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.5	−0.070%	$69.7M	$291.7M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,357.3	−0.050%	$263.3M	$407.7M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,353.9	−0.128%	$4.1M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,360	+0.011%	$93K	$9.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,351.4	−0.185%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	−0.176%	$13.6M	$43.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0032%	1h	4,354.9	−0.106%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.208%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,354.7	−0.110%	$20.6M	$43.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,357.7	−0.041%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.2	+0.681%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,357.1	−0.056%	$20.1M	$40.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.8	−0.154%	$294.0M	$48.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,353.3	−0.143%	$15.0M	$57.7M	25x	as long as short
QFEX GOLD-USD	+0.0051%	1h	4,355.8	−0.085%	$5.6M	$1.9M	20x	as long as short
Polymarket Perps GOLD-USD	+0.0060%	1h	4,353.6	−0.135%	$4.3M	$1.9M	20x	as long as short
Variational Omni XAU	+0.0061%	4h	4,355.7	−0.087%	$48.3M	$28.4M	—	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,350.9	−0.197%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0084%	8h	4,355.6	−0.089%	$19K	$5K	5x	as long as short
MEXC XAU_USDT	+0.0084%	4h	4,355.8	−0.086%	$372.3M	$321.6M	1000x	as long as short
Binance XAUUSDT	+0.0086%	4h	4,355.8	−0.085%	$409.4M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0098%	4h	4,351.9	−0.174%	$30.3M	$60.4M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.4	−0.163%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.141%	$275K	$204K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,354.4	−0.118%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0121%	1h	4,354.7	−0.110%	$48K	$64K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,356.4	−0.071%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,357.4	−0.049%	$1.4M	$3.0M	25x	as long as short
Bitget XAUUSDT	+0.0148%	4h	4,356.3	−0.074%	$69.2M	$109.7M	100x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,355.4	−0.094%	$59K	$83K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,353.7	−0.133%	$234K	$661K	25x	as long as short
Bybit XAUUSDT	+0.0185%	4h	4,356.8	−0.062%	$84.1M	$143.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0225%	8h	4,357.1	−0.055%	$164.9M	$284.3M	100x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0269%	1h	4,352.7	−0.157%	$594K	$141K	25x
BloFin XAU-USDT	+0.0286%	4h	4,364.8	+0.122%	$15.5M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0368%	4h	4,359.7	+0.003%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,355.3	−0.096%	$253K	—	111x	as long as short
HTX XAU-USDTlong	+0.0527%	4h	4,359.5	long leg	$2.9M	$3.9M	75x