Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.006%

Price spread now: Kraken Futures against Bybit+0.045%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.045%, 7d avg +0.024%

Together, before fees+0.046%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Kraken Futures is 0.021% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAUTUSDT	4,329.8	−0.0005	get 0.0002% / 4h	2h 05m	$118.4M	$29.9M	75x
Short	Kraken Futures PF_XAUTUSD	4,331.7	0.0168	get 0.0021% / 1h	5m 22s	$5.7M	$4.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.045%Rate

Funding earned: $36.19
Price spread: +0.045% → +0.024%: $2.05
Slippage, 4 orders: −$3.63
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $13.62
Costs to cover: 0.246%
Break-even: 4.4 days

Slippage from Bybit: 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 Bybit live order book, 4 min ago	0.12 bp	5.6 bp −$6	6.5 bp −$65	12.6 bp −$1,264	doesn't fit
Sell Kraken Futures live order book, 4 min ago	0.92 bp	6.4 bp −$6	7.7 bp −$77	15.5 bp −$1,549	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	−0.0296%	1h	4,330.9	+0.025%	$56K	$29K	20x	as long as short
Bitget XAUTUSDT	−0.0034%	4h	4,329.4	−0.009%	$25.5M	$16.7M	75x	as long as short
Bybit XAUTUSDTlong	−0.0005%	4h	4,329.8	long leg	$118.4M	$29.9M	75x
MEXC XAUT_USDT	−0.0002%	4h	4,330	+0.005%	$358.0M	$286.6M	1000x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,332.4	+0.060%	$130.2M	$8.6M	100x	as long as short
Variational Omni XAUT	+0.0015%	4h	4,330.9	+0.025%	$33.0M	$3.5M	—	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	+0.462%	$8K	$149K	30x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,329	−0.018%	$10.1M	$2.0M	25x	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,330.1	+0.007%	$4.2M	$916K	10x	as long as short
Binance XAUTUSDT	+0.0100%	4h	4,330.3	+0.011%	$35.3M	$46.8M	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	4,332	+0.050%	$11.7M	$3.0M	75x	as long as short
BingX XAUT-USDT	+0.0100%	4h	4,330.2	+0.010%	—	$18.9M	—	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,332.6	+0.066%	$407	$111K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,330.5	+0.016%	$266	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,330.1	+0.006%	$1.8M	$363K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,335.5	+0.132%	$2K	$3.2M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,330.5	+0.016%	$1.8M	$246K	75x	as long as short
Extended XAUT-USD	+0.0104%	1h	4,328.7	−0.025%	$267K	$214K	25x	as long as short
BloFin XAUT-USDT	+0.0129%	4h	4,330.7	+0.021%	$2.3M	$1.6M	75x	as long as short
Kraken Futures PF_XAUTUSDshort	+0.0168%	1h	4,331.7	+0.045%	$5.7M	$4.8M	50x