Funding you earn now, next payment 04:00 UTC−0.0329%/8h= −36.0% APRpaid last 24h −0.151%
Price spread now: Kalshi against Phemex−0.118%7-day average −0.128% · you buy dearer than you sell
Net, funding: paid 7d − costs−$124as in the Funding arb table
Net, price: spread back to 7d avg − costs−$79as in the Price arb table
costs, in and out, $10k−$800.798% of the position
Funding, last 7 days−0.441%−$44 on $10k
+Price spread, last 3 days (all we have)−0.049%−$5 · spread now −0.118%, 7d avg −0.128%
=The price spread sits at its 7-day average of −0.128%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex XAUUSDT | 4,355.5 | 0.0363 | pay 0.0182% / 4h | 2h 13m | $2.2M | $1.1M | 100x |
| Short | Kalshi KXGOLDPERP | 4,350.4 | 0.0034 | get 0.0102% / 24h | 12h 13m | $4.1M | $36.1M | 15x |
Phemex XAUUSDT
Kalshi KXGOLDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$69.07
- Price spread: −0.118% → −0.128%
- $1.04
- Slippage, 4 orders
- −$57.8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$147.84
- Costs to cover
- 0.798%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 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 Phemex live order book, 5 min ago | 1.02 bp | 30.6 bp −$31 | doesn't fit | doesn't fit | doesn't fit |
| Sell Kalshi live order book, 6 min ago | 0.12 bp | 6.4 bp −$6 | 6.7 bp −$67 | 9.6 bp −$957 | doesn't fit |
XAU on 38 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 | |
|---|---|---|---|---|---|---|---|---|
| Gate XAU_USDT | 0.0000% | 4h | 4,354 | −0.035% | $263.4M | $414.1M | 100x | as long as short |
| SunX XAU-USDT | 0.0000% | 4h | 4,357.1 | +0.037% | $93K | $9.5M | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,347.9 | −0.175% | $269K | — | 250x | as long as short |
| Hotstuff GOLD-PERP | +0.0016% | 1h | 4,351.2 | −0.099% | $33K | — | 25x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,348.2 | −0.168% | $13.5M | $41.8M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | −0.117% | $619 | $54 | 52x | as long as short |
| Kalshi KXGOLDPERPshort | +0.0034% | 24h | 4,350.4 | −0.118% | $4.1M | $36.1M | 15x | |
| Aster XAUUSD1 | +0.0035% | 4h | 4,353.4 | −0.048% | $70.4M | $301.3M | 20x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,358.7 | +0.073% | $3.8M | $4.7M | 40x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,386.7 | +0.716% | — | $1.0M | 25x | as long as short |
Gate XAU_USDT
SunX XAU-USDT
gTrade (Gains Network) XAU/USD
Hotstuff GOLD-PERP
Extended XAU-USD
Injective XAU/USDC PERP
Aster XAUUSD1
StandX XAU-USD
Vest GC-PERPShow all 38 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,349.7 | −0.134% | $294.0M | $48.5M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,349.7 | −0.133% | $14.9M | $58.0M | 25x | as long as short |
| QFEX GOLD-USD | +0.0051% | 1h | 4,353.6 | −0.044% | $5.6M | $1.9M | 20x | as long as short |
| Lighter XAU | +0.0056% | 1h | 4,351.4 | −0.095% | $20.6M | $43.7M | 25x | as long as short |
| Lighter RH XAU | +0.0064% | 1h | 4,353.7 | −0.043% | $20.1M | $41.0M | 25x | as long as short |
| Coinbase International GOLD-PERP-INTX | +0.0072% | 1h | 4,349.3 | −0.143% | $2.0M | $5.0M | 25x | as long as short |
| Polymarket Perps GOLD-USD | +0.0076% | 1h | 4,352.2 | −0.076% | $4.3M | $1.9M | 20x | as long as short |
| Paradex XAU-USD-PERP | +0.0083% | 8h | 4,353.8 | −0.039% | $19K | $5K | 5x | as long as short |
| Variational Omni XAU | +0.0086% | 4h | 4,356 | +0.012% | $48.2M | $28.1M | — | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,351.4 | −0.095% | $1.4M | $1.2M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,352.6 | −0.066% | $275K | $204K | 50x | as long as short |
| Bluefin GOLD-PERP | +0.0100% | 1h | 4,347 | −0.195% | $25K | $14K | 20x | as long as short |
| MEXC XAU_USDT | +0.0104% | 4h | 4,352.3 | −0.073% | $375.4M | $324.1M | 1000x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,351.8 | −0.085% | $161K | $87 | 10x | as long as short |
| Binance XAUUSDT | +0.0105% | 4h | 4,352.3 | −0.074% | $409.0M | $2.10B | 100x | as long as short |
| edgeX XAUUSDC | +0.0112% | 4h | 4,351.9 | −0.083% | $30.3M | $60.0M | 50x | as long as short |
| GRVT XAU_USDT_Perp | +0.0120% | 4h | 4,355.1 | −0.009% | $1.4M | $2.9M | 25x | as long as short |
| Phoenix GOLD | +0.0121% | 1h | 4,356.9 | +0.032% | $48K | $64K | 25x | as long as short |
| RISEx XAU/USDC | +0.0135% | 1h | 4,352.9 | −0.060% | $3.4M | $12.4M | 25x | as long as short |
| Bullet GOLD-USD | +0.0168% | 1h | 4,352.7 | −0.064% | $59K | $83K | 10x | as long as short |
| Bybit XAUUSDT | +0.0180% | 4h | 4,353.3 | −0.051% | $83.7M | $144.2M | 150x | as long as short |
| Bitget XAUUSDT | +0.0186% | 4h | 4,352.9 | −0.060% | $69.5M | $109.5M | 100x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0233% | 1h | 4,350.7 | −0.111% | $249K | $679K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0239% | 8h | 4,353.7 | −0.042% | $164.8M | $281.6M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0269% | 1h | 4,349.8 | −0.131% | $593K | $139K | 25x | as long as short |
| Phemex XAUUSDTlong | +0.0363% | 4h | 4,355.5 | long leg | $2.2M | $1.1M | 100x | |
| GMX GOLD/USD [ETH-USDC] | L +0.0391% / S −0.0197% | 1h | 4,352.4 | −0.072% | $251K | — | 111x | as long as short |
| HTX XAU-USDT | +0.0563% | 4h | 4,358.7 | +0.074% | $2.9M | $3.9M | 75x | as long as short |
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
QFEX GOLD-USD
Lighter XAU
Lighter RH XAU
Coinbase International GOLD-PERP-INTX
Polymarket Perps GOLD-USD
Paradex XAU-USD-PERP
Variational Omni XAU
Pacifica XAU
ApeX Omni XAUUSDT
Bluefin GOLD-PERP
MEXC XAU_USDT
Aevo XAU-PERP
Binance XAUUSDT
edgeX XAUUSDC
GRVT XAU_USDT_Perp
Phoenix GOLD
RISEx XAU/USDC
Bullet GOLD-USD
Bybit XAUUSDT
Bitget XAUUSDT
Deribit GOLD_USDC-PERPETUAL
OKX XAU-USDT-SWAP
Kraken Futures PF_XAUUSD
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT