Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.043%

Price spread now: Kalshi against MEXC−0.033%7-day average −0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on MEXC Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.199%−$20 on $10k

Price spread, last 7 days−0.078%−$8 · spread now −0.033%, 7d avg −0.104%

Together, before fees−0.277%−$28 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.070% dearer against MEXC than usual: you sell high and buy low (spread −0.033% now, against its 7-day average of −0.104%): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.1 days. At the pace of the last 7 days (−0.199% in total) that is about 2.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,357.9	0.0072	pay 0.0036% / 4h	1h 23m	$372.1M	$319.0M	1000x
Short	Kalshi KXGOLDPERP	4,356.4	0.0039	get 0.0117% / 24h	11h 23m	$4.1M	$37.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against MEXC. 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 MEXCbpFee KalshibpOrdersPrice spread, now −0.033%Rate

Funding earned: −$6.92
Price spread: −0.033% → −0.104%: $7.05
Slippage, 4 orders: −$2.06
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$15.94
Costs to cover: 0.161%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; Kalshi: live order book, 6 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 MEXC live order book, 6 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	6.2 bp −$621	25.0 bp −$12.5K
Sell Kalshi live order book, 6 min ago	0.12 bp	6.3 bp −$6	6.7 bp −$67	8.4 bp −$845	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	4,363.2	+0.122%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,354.6	−0.075%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,359	+0.027%	$264.7M	$413.1M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,357.4	−0.011%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354	−0.089%	$13.6M	$38.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.170%	$619	$54	52x	as long as short
Kalshi KXGOLDPERPshort	+0.0039%	24h	4,356.4	−0.033%	$4.1M	$37.0M	15x
StandX XAU-USD	+0.0040%	1h	4,359.3	+0.033%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,358.2	+0.008%	$70.6M	$333.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.3	+0.768%	—	$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	−0.020%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,355.7	−0.049%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,354.3	−0.081%	$294.2M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,353.8	−0.094%	$15.1M	$57.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	−0.017%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,356.8	−0.024%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,355.6	−0.051%	$48.3M	$27.9M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,359	+0.027%	$20.2M	$39.7M	25x	as long as short
MEXC XAU_USDTlong	+0.0072%	4h	4,357.9	long leg	$372.1M	$319.0M	1000x
Binance XAUUSDT	+0.0073%	4h	4,357.4	−0.010%	$412.0M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,357.8	−0.001%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0090%	4h	4,351.8	−0.140%	$30.3M	$58.4M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,357.8	−0.002%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.4	−0.079%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,354.7	−0.072%	$275K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,354.5	−0.077%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0119%	4h	4,357.8	−0.002%	$2.2M	$1.1M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0123%	1h	4,357	−0.020%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,356.1	−0.040%	$48K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0199%	4h	4,358.9	+0.024%	$84.5M	$145.4M	150x	as long as short
Bullet GOLD-USD	+0.0200%	1h	4,358.4	+0.012%	$60K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,357.7	−0.003%	$70.2M	$109.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0232%	1h	4,356.9	−0.022%	$278K	$727K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,359	+0.026%	$165.2M	$282.8M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,355.5	−0.054%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0296%	4h	4,356.2	−0.038%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0213%	1h	4,358.4	+0.013%	$249K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0463%	1h	4,351.3	−0.151%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0566%	4h	4,364.4	+0.150%	$2.9M	$4.2M	75x	as long as short