Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0047%/8h= +5.2% APRpaid last 24h −0.014%

Price spread now: Kalshi against Vest−0.707%7-day average −0.926% · you buy dearer than you sell

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

Long on Vest Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.062%−$6 on $10k

Price spread, last 7 days−0.220%−$22 · spread now −0.707%, 7d avg −0.926%

Together, before fees−0.282%+ Points / potential airdropVest: Active · farm board−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Kalshi is 0.219% dearer against Vest than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.926%. Mind the row above: over the last 4 days funding on this pair cost −0.062%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Vest GC-PERP	4,356.6	0.0046	pay 0.0006% / 1h	30m 52s	—	$1.0M	25x
Short	Kalshi KXGOLDPERP	4,325.8	0.0093	get 0.0278% / 24h	6h 30m	$3.8M	$44.6M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Vest. 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 VestbpFee KalshibpOrdersPrice spread, now −0.707%Rate

Funding earned: $9.9
Price spread: −0.707% → −0.926%: $21.93
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Kalshi: 5 bp × 2 orders: −$10
Net: $19.83
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Vest: no order-book sample; Kalshi: live order book, 3 min ago. 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 Vest no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	0.12 bp	7.1 bp −$7	7.2 bp −$72	11.4 bp −$1,139	doesn't fit

Vest: 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
Hotstuff GOLD-PERP	−0.0096%	1h	4,322.5	−0.783%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0081%	1h	4,318.6	−0.872%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,329.1	−0.631%	$92K	$7.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,320	−0.841%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.142%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.2	−0.675%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,324.1	−0.746%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERPlong	+0.0046%	1h	4,356.6	long leg	—	$1.0M	25x
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.3	−0.833%	$291.6M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,320.3	−0.833%	$15.0M	$55.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0054%	4h	4,324	−0.748%	$77.6M	$152.8M	150x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,324.4	−0.740%	$72.8M	$271.9M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,323	−0.771%	$20.5M	$29.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0065%	8h	4,324.1	−0.745%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,320.5	−0.829%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,324.9	−0.728%	$47.2M	$29.3M	—	as long as short
Kalshi KXGOLDPERPshort	+0.0093%	24h	4,325.8	−0.707%	$3.8M	$44.6M	15x
Phoenix GOLD	+0.0096%	1h	4,323.3	−0.764%	$47K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,321	−0.816%	$1.4M	$1.2M	10x	as long as short
MEXC XAU_USDT	+0.0100%	4h	4,323.4	−0.763%	$362.7M	$327.9M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,326.8	−0.685%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,320.9	−0.821%	$272K	$208K	50x	as long as short
Binance XAUUSDT	+0.0101%	4h	4,323.2	−0.767%	$424.9M	$2.13B	100x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,323.8	−0.753%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0108%	4h	4,325.4	−0.716%	$286.0M	$416.9M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,322.9	−0.773%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,325.7	−0.709%	$20.0M	$39.2M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,319.1	−0.860%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,323.1	−0.769%	$70.1M	$118.6M	100x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,324.3	−0.741%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0219%	1h	4,324.3	−0.741%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,322.2	−0.790%	$578K	$135K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,322.5	−0.783%	$163K	$872K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0276%	8h	4,324.1	−0.746%	$173.8M	$299.0M	100x	as long as short
BloFin XAU-USDT	+0.0341%	4h	4,324.2	−0.743%	$16.4M	$4.7M	100x	as long as short
Phemex XAUUSDT	+0.0368%	4h	4,327.3	−0.672%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0430%	4h	4,331.1	−0.586%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,324.2	−0.743%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,324.5	−0.736%	$4.6M	$13.3M	25x	as long as short