Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.030%

Price spread now: ApeX Omni against Kalshi−0.039%7-day average +0.053% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

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

Long on Kalshi Short on ApeX Omni

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)+0.025%+$3 · spread now −0.039%, 7d avg +0.053%

Together, before fees+0.249%+$25 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.092% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.053%). If the spread goes back, that is −$9 on $10k: about 5.0 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,356.4	0.0039	pay 0.0117% / 24h	11h 23m	$4.1M	$37.0M	15x
Short	ApeX Omni XAUUSDT	4,354.7	0.0100	get 0.0013% / 1h	23m 22s	$275K	$203K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Kalshi. 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 KalshibpFee ApeX OmnibpOrdersPrice spread, now −0.039%Rate

Funding earned: $12.8
Price spread: −0.039% → +0.053%: −$9.17
Slippage, 4 orders: −$27.9
Fee Kalshi: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$44.27
Costs to cover: 0.479%
Break-even: 31.2 days

Slippage from Kalshi: live order book, 6 min ago; ApeX Omni: live order book, 39 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 Kalshi live order book, 6 min ago	0.12 bp	5.7 bp −$6	6.0 bp −$60	9.4 bp −$944	doesn't fit
Sell ApeX Omni live order book, 39 min ago	4.79 bp	19.9 bp −$20	34.7 bp −$347	44.0 bp −$4,399	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	4,362.3	+0.135%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.6	−0.042%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,359	+0.060%	$264.6M	$413.2M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,357.4	+0.022%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354.3	−0.049%	$13.6M	$38.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.137%	$619	$54	52x	as long as short
Kalshi KXGOLDPERPlong	+0.0039%	24h	4,356.4	long leg	$4.1M	$37.0M	15x
StandX XAU-USD	+0.0040%	1h	4,359.3	+0.067%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,358.1	+0.040%	$70.6M	$333.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.3	+0.801%	—	$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
QFEX GOLD-USD	+0.0046%	1h	4,357	+0.014%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,355.7	−0.016%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.5	−0.044%	$294.2M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,353.8	−0.061%	$15.1M	$57.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	+0.016%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,356.8	+0.010%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,355.6	−0.017%	$48.3M	$27.9M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,359	+0.061%	$20.2M	$39.7M	25x	as long as short
MEXC XAU_USDT	+0.0072%	4h	4,357.9	+0.034%	$372.1M	$319.0M	1000x	as long as short
Binance XAUUSDT	+0.0073%	4h	4,357.9	+0.035%	$412.1M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,357.8	+0.032%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0090%	4h	4,351.8	−0.107%	$30.3M	$58.4M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,357.1	+0.016%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.4	−0.046%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,354.7	−0.039%	$275K	$203K	50x
Hotstuff GOLD-PERP	+0.0104%	1h	4,354.5	−0.044%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0123%	4h	4,358.8	+0.054%	$2.2M	$1.1M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0123%	1h	4,357	+0.014%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,356.1	−0.007%	$48K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0199%	4h	4,359.8	+0.078%	$84.5M	$145.4M	150x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,358	+0.037%	$60K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,358.8	+0.056%	$70.3M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,358.9	+0.057%	$165.2M	$282.8M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0255%	1h	4,357.3	+0.021%	$278K	$727K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.8	−0.037%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0296%	4h	4,356.2	−0.004%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0214%	1h	4,358.4	+0.046%	$249K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0419%	1h	4,351.8	−0.105%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0568%	4h	4,363.4	+0.161%	$2.9M	$4.2M	75x	as long as short