Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.063%

Price spread now: Paradex against Kraken Futures+0.085%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

The price spread pays, funding is against you. Paradex is 0.085% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.085% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,344.5	0.0194	pay 0.0024% / 1h	32m 45s	$592K	$132K	25x
Short	Paradex XAU-USD-PERP	4,348.2	0.0084	get 0.0084% / 8h	4h 32m	$19K	$5K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against Kraken Futures. 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 Kraken FuturesbpFee ParadexbpOrdersPrice spread, now +0.085%Rate

Funding earned: −$23
Price spread: +0.085% → 0.000%: $8.47
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$28.52
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 25 min ago; Paradex: no order-book sample. Net counts fees only.

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 Kraken Futures live order book, 25 min ago	2.97 bp	8.2 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
RISEx XAU/USDC	0.0000%	1h	4,348.5	+0.090%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,352	+0.171%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.8	−0.018%	$271K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,349.4	+0.111%	$267.9M	$412.3M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,347.3	+0.063%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,344.6	+0.001%	$13.3M	$38.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.135%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,349.4	+0.112%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.3	+0.063%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,347.4	+0.066%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0045%	24h	4,345.8	+0.029%	$4.2M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,380.8	+0.834%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,345.1	+0.013%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.8	+0.006%	$293.8M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,345.8	+0.029%	$15.1M	$56.9M	25x	as long as short
Aster XAUUSD1	+0.0063%	4h	4,348.2	+0.085%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0080%	4h	4,346.7	+0.049%	$48.5M	$27.8M	—	as long as short
Paradex XAU-USD-PERPshort	+0.0084%	8h	4,348.2	+0.085%	$19K	$5K	5x
GRVT XAU_USDT_Perp	+0.0086%	4h	4,346.6	+0.048%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0092%	4h	4,348.7	+0.095%	$372.9M	$317.8M	1000x	as long as short
Binance XAUUSDT	+0.0093%	4h	4,348.2	+0.084%	$414.0M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,345.1	+0.013%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.5	−0.025%	$274K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,347	+0.057%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0110%	4h	4,341.5	−0.071%	$30.2M	$58.3M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0118%	1h	4,345.6	+0.024%	$243K	$789K	25x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	+0.063%	$47K	$77K	25x	as long as short
Hotstuff GOLD-PERP	+0.0144%	1h	4,344.4	−0.003%	$33K	—	25x	as long as short
Polymarket Perps GOLD-USD	+0.0151%	1h	4,347.2	+0.061%	$4.3M	$1.9M	20x	as long as short
Bluefin GOLD-PERP	+0.0171%	1h	4,340.5	−0.094%	$25K	$14K	20x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0194%	1h	4,344.5	long leg	$592K	$132K	25x
Bullet GOLD-USD	+0.0199%	1h	4,347.8	+0.076%	$59K	$82K	10x	as long as short
Phemex XAUUSDT	+0.0212%	4h	4,350.2	+0.130%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0234%	4h	4,347.9	+0.077%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,350.2	+0.131%	$85.1M	$144.8M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0286%	8h	4,350	+0.125%	$165.6M	$281.8M	100x	as long as short
BloFin XAU-USDT	+0.0340%	4h	4,347.7	+0.073%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0231%	1h	4,347.8	+0.076%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0624%	4h	4,352	+0.172%	$2.9M	$4.3M	75x	as long as short