Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.042%

Price spread now: Kraken Futures against Binance−0.056%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$270.268% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.182%+$18 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now −0.056%, 7d avg −0.067%

Together, before fees+0.173%+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.067%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAUUSDT	4,306.7	0.0110	pay 0.0055% / 4h	6m 12s	$428.9M	$2.16B	100x
Short	Kraken Futures PF_XAUUSD	4,304.3	0.0229	get 0.0029% / 1h	6m 12s	$573K	$138K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.056%Rate

Funding earned: $24.83
Price spread: −0.056% → −0.067%: $1.12
Slippage, 4 orders: −$6.75
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$0.81
Costs to cover: 0.268%
Break-even: 7.2 days

Slippage from Binance: live order book, 8 min ago; Kraken Futures: live order book, 32 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 Binance live order book, 8 min ago	0.01 bp	5.0 bp −$5	5.0 bp −$50	5.8 bp −$585	doesn't fit
Sell Kraken Futures live order book, 32 min ago	2.53 bp	8.3 bp −$8	17.4 bp −$174	doesn't fit	doesn't fit

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
SunX XAU-USDT	0.0000%	4h	4,311.1	+0.101%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,302.8	−0.092%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.015%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,306.4	−0.007%	$5.7M	$3.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,339.2	+0.754%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.5	−0.074%	$290.0M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,304.1	−0.061%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,307.8	+0.026%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,307.7	+0.022%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0070%	1h	4,302.4	−0.101%	$25K	$1K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0071%	4h	4,307.5	+0.017%	$77.2M	$155.3M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,305.8	−0.022%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,303.5	−0.074%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.167%	$42K	$79K	25x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.227%	$47.1M	$29.0M	—	as long as short
Kalshi KXGOLDPERP	+0.0100%	24h	4,309.2	+0.058%	$3.7M	$45.4M	15x	as long as short
Pacifica XAU	+0.0100%	1h	4,304.3	−0.056%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.158%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,308.3	+0.037%	$19.9M	$40.2M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,302.7	−0.093%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,306.8	+0.003%	$365.9M	$341.1M	1000x	as long as short
Binance XAUUSDTlong	+0.0110%	4h	4,306.7	long leg	$428.9M	$2.16B	100x
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.217%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,306.4	−0.008%	$159K	$87	10x	as long as short
Gate XAU_USDT	+0.0118%	4h	4,308.7	+0.046%	$284.7M	$430.5M	100x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,304.5	−0.051%	$32K	—	25x	as long as short
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.150%	$30.0M	$59.8M	50x	as long as short
StandX XAU-USD	+0.0130%	1h	4,310.3	+0.083%	$3.8M	$4.5M	40x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,306.6	−0.002%	$70.4M	$121.4M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,306.8	+0.002%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,307	+0.007%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0229%	1h	4,304.3	−0.056%	$573K	$138K	25x
OKX XAU-USDT-SWAP	+0.0263%	8h	4,307.1	+0.009%	$175.2M	$305.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0308%	1h	4,305.5	−0.028%	$136K	$865K	25x	as long as short
BloFin XAU-USDT	+0.0371%	4h	4,308.4	+0.040%	$16.5M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,306.9	+0.005%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0472%	4h	4,311.1	+0.101%	$2.2M	$949K	100x	as long as short
HTX XAU-USDT	+0.0542%	4h	4,314.1	+0.172%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	+0.015%	$4.5M	$13.1M	25x	as long as short