Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.066%

Price spread now: Bitget against Kalshi+0.076%7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$250.248% of the position

Long on Kalshi Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.260%+$26 on $10k

Price spread, last 7 days+0.021%+$2 · spread now +0.076%, 7d avg +0.111%

Together, before fees+0.281%+$28 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.035% cheaper against Kalshi than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of +0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,372.4	0	get 0.0000% / 24h	13h 45m	$4.0M	$36.6M	15x
Short	Bitget XAUUSDT	4,375.7	0.0008	get 0.0004% / 4h	3h 45m	$69.7M	$113.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.076%Rate

Funding earned: $1.68
Price spread: +0.076% → +0.111%: −$3.49
Slippage, 4 orders: −$2.81
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$26.62
Costs to cover: 0.248%
Break-even: 117.9 days

Slippage from Kalshi: live order book, 4 min ago; Bitget: live order book, 4 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, 4 min ago	0.11 bp	6.6 bp −$7	7.0 bp −$70	10.1 bp −$1,010	doesn't fit
Sell Bitget live order book, 4 min ago	0.01 bp	6.0 bp −$6	7.5 bp −$75	11.3 bp −$1,129	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	−0.0105%	1h	4,368.8	−0.082%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0080%	1h	4,372	−0.009%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,375.6	+0.073%	$71.2M	$206.8M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.7	+0.076%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.2	+0.088%	$266.5M	$410.5M	100x	as long as short
MEXC XAU_USDT	0.0000%	4h	4,375.3	+0.067%	$375.5M	$321.8M	1000x	as long as short
Variational Omni XAU	0.0000%	4h	4,375.1	+0.062%	$48.7M	$27.7M	—	as long as short
Kalshi KXGOLDPERPlong	0.0000%	24h	4,372.4	long leg	$4.0M	$36.6M	15x
SunX XAU-USDT	0.0000%	4h	4,380	+0.175%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,371.4	−0.022%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDTshort	+0.0008%	4h	4,375.7	+0.076%	$69.7M	$113.9M	100x
edgeX XAUUSDC	+0.0018%	4h	4,371.2	−0.028%	$30.4M	$60.2M	50x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.503%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376	+0.082%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.1	+0.062%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,409.8	+0.855%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,376	+0.083%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.1	−0.007%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.5	−0.021%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	+0.066%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0071%	8h	4,375.7	+0.075%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,374.3	+0.043%	$20.7M	$43.4M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,375	+0.060%	$162K	$87	10x	as long as short
Lighter RH XAU	+0.0088%	1h	4,376.9	+0.103%	$20.3M	$40.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,372.2	−0.005%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	+0.007%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,374	+0.037%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0113%	1h	4,375.2	+0.064%	$4.3M	$1.8M	20x	as long as short
Extended XAU-USD	+0.0128%	1h	4,371.3	−0.024%	$13.3M	$44.1M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0138%	4h	4,376.4	+0.092%	$1.4M	$3.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0175%	8h	4,377.4	+0.114%	$166.3M	$287.1M	100x	as long as short
Bybit XAUUSDT	+0.0182%	4h	4,376.4	+0.091%	$83.4M	$144.0M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0185%	1h	4,373.5	+0.025%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,375.6	+0.073%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,373.1	+0.016%	$596K	$145K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,375.6	+0.073%	$15.0M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,375.6	+0.073%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0486%	4h	4,378.2	+0.134%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0590%	4h	4,380.7	+0.191%	$2.9M	$3.8M	75x	as long as short