Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0050%/8h= +5.4% APRpaid last 24h −0.032%

Price spread now: Kalshi against Aevo+0.052%7-day average −0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$440.441% of the position

Long on Aevo Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.231%−$23 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.052%, 7d avg −0.070%

Together, before fees−0.398%−$40 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 0.122% dearer against Aevo than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.070%. Mind the row above: over the last 7 days funding on this pair cost −0.231%, 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	Aevo XAU-PERP	4,323.3	0.0104	pay 0.0013% / 1h	7m 25s	$160K	$87	10x
Short	Kalshi KXGOLDPERP	4,325.6	0.0154	get 0.0461% / 24h	2h 07m	$3.5M	$52.2M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Aevo. 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 AevobpFee KalshibpOrdersPrice spread, now +0.052%Rate

Funding earned: $10.43
Price spread: +0.052% → −0.070%: $12.18
Slippage, 4 orders: −$18.09
Fee Aevo: 8 bp × 2 orders: −$16
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$21.48
Costs to cover: 0.441%
Break-even: 21.4 days

Slippage from Aevo: live order book, 34 min ago; Kalshi: live order book, 5 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 Aevo live order book, 34 min ago	6.25 bp	16.0 bp −$16	29.7 bp −$297	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	0.12 bp	6.6 bp −$7	6.8 bp −$68	11.3 bp −$1,131	doesn't fit

XAU on 39 exchanges

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
Coinbase International GOLD-PERP-INTX	−0.0032%	1h	4,320.6	−0.063%	$2.1M	$4.8M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,328.3	+0.115%	$92K	$5.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0002%	1h	4,320.2	−0.073%	$308K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.626%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.9	+0.036%	$3.9M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,322	−0.031%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,356.3	+0.762%	—	$919K	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.6	−0.063%	$293.5M	$47.2M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319.6	−0.086%	$15.2M	$61.3M	25x	as long as short
Aster XAUUSD1	+0.0051%	4h	4,324.5	+0.027%	$70.4M	$278.2M	20x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex XAU-USD-PERP	+0.0056%	8h	4,322.2	−0.026%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0062%	1h	4,323.6	+0.006%	$4.6M	$13.2M	25x	as long as short
Variational Omni XAU	+0.0076%	4h	4,323.5	+0.003%	$47.3M	$27.6M	—	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,321.9	−0.033%	$35K	$3K	25x	as long as short
Gate XAU_USDT	+0.0080%	4h	4,324.7	+0.032%	$306.7M	$446.5M	100x	as long as short
Binance XAUUSDT	+0.0082%	4h	4,323.1	−0.005%	$445.2M	$2.43B	100x	as long as short
MEXC XAU_USDT	+0.0082%	4h	4,323.5	+0.004%	$343.6M	$362.9M	1000x	as long as short
Lighter XAU	+0.0088%	1h	4,322.3	−0.025%	$20.0M	$31.0M	25x	as long as short
edgeX XAUUSDC	+0.0089%	4h	4,320.7	−0.060%	$30.3M	$67.1M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,320.7	−0.061%	$1.4M	$1.5M	10x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,324.7	+0.032%	$1.4M	$3.1M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,321.2	−0.049%	$287K	$228K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,319.2	−0.095%	$25K	$1K	20x	as long as short
Aevo XAU-PERPlong	+0.0104%	1h	4,323.3	long leg	$160K	$87	10x
Phoenix GOLD	+0.0124%	1h	4,321.1	−0.052%	$43K	$71K	25x	as long as short
Phemex XAUUSDT	+0.0129%	4h	4,325.7	+0.054%	$2.3M	$736K	100x	as long as short
Lighter RH XAU	+0.0144%	1h	4,324.9	+0.036%	$19.6M	$40.0M	25x	as long as short
Kalshi KXGOLDPERPshort	+0.0154%	24h	4,325.6	+0.052%	$3.5M	$52.2M	15x
Bybit XAUUSDT	+0.0156%	4h	4,324.4	+0.023%	$84.4M	$169.3M	150x	as long as short
Extended XAU-USD	+0.0160%	1h	4,319	−0.101%	$12.6M	$34.2M	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0197%	1h	4,321.2	−0.050%	$583K	$169K	25x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,323.7	+0.007%	$73.3M	$142.5M	100x	as long as short
Bullet GOLD-USD	+0.0220%	1h	4,323.6	+0.007%	$60K	$77K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0220%	1h	4,323.8	+0.011%	$4.3M	$1.7M	20x	as long as short
OKX XAU-USDT-SWAP	+0.0230%	8h	4,323.7	+0.008%	$171.7M	$362.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0259%	1h	4,322.4	−0.022%	$135K	$658K	25x	as long as short
BloFin XAU-USDT	+0.0322%	4h	4,324.9	+0.035%	$16.5M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0426% / S −0.0259%	1h	4,324.4	+0.025%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0996%	4h	4,329	+0.130%	$3.2M	$7.1M	75x	as long as short