Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0245%/8h= +26.8% APRpaid last 24h +0.015%

Price spread now: Kraken Futures against Bitget+0.082%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now +0.082%, 7d avg +0.033%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.049% dearer against Bitget than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.033%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUTUSDT	4,308.9	−0.0016	get 0.0008% / 4h	15m 13s	$26.6M	$19.1M	75x
Short	Kraken Futures PF_XAUTUSD	4,312.4	0.0229	get 0.0029% / 1h	15m 13s	$5.8M	$5.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.082%Rate

Funding earned: $51.44
Price spread: +0.082% → +0.033%: $4.9
Slippage, 4 orders: −$4.37
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $29.97
Costs to cover: 0.264%
Break-even: 2.9 days

Slippage from Bitget: live order book, 4 min ago; Kraken Futures: 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 Bitget live order book, 4 min ago	0.01 bp	6.7 bp −$7	6.9 bp −$69	8.3 bp −$826	doesn't fit
Sell Kraken Futures live order book, 4 min ago	0.12 bp	6.0 bp −$6	7.8 bp −$78	14.1 bp −$1,411	doesn't fit

XAUT on 20 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
Aftermath Perps XAUTUSD	−0.0202%	1h	4,313.5	+0.108%	$55K	$11K	20x	as long as short
Bitget XAUTUSDTlong	−0.0016%	4h	4,308.9	long leg	$26.6M	$19.1M	75x
Gate XAUT_USDT	0.0000%	8h	4,312.6	+0.087%	$131.2M	$8.9M	100x	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	+0.950%	$8K	$149K	30x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,309.8	+0.022%	$10.1M	$2.1M	25x	as long as short
Variational Omni XAUT	+0.0068%	4h	4,310.8	+0.044%	$32.8M	$3.4M	—	as long as short
MEXC XAUT_USDT	+0.0098%	4h	4,311.1	+0.052%	$370.2M	$284.9M	1000x	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,311	+0.049%	$4.1M	$932K	10x	as long as short
Binance XAUTUSDT	+0.0100%	4h	4,310.7	+0.043%	$35.6M	$47.1M	75x	as long as short
Bybit XAUTUSDT	+0.0100%	4h	4,311.1	+0.052%	$119.0M	$30.8M	75x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin XAUTUSDTM	+0.0100%	4h	4,313.2	+0.100%	$11.8M	$3.2M	75x	as long as short
BingX XAUT-USDT	+0.0100%	4h	4,311.7	+0.066%	—	$19.6M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,312.1	+0.076%	$630	$112K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,310.8	+0.045%	$265	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,313.5	+0.107%	$1.8M	$343K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,314.9	+0.139%	$2K	$3.1M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,309.4	+0.011%	$1.8M	$201K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,309.5	+0.016%	$267K	$196K	25x	as long as short
Kraken Futures PF_XAUTUSDshort	+0.0229%	1h	4,312.4	+0.082%	$5.8M	$5.3M	50x
BloFin XAUT-USDT	+0.0340%	4h	4,311.3	+0.056%	$2.3M	$1.5M	75x	as long as short