Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.066%

Price spread now: Kalshi against Bitget−0.107%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$250.250% of the position

Long on Bitget Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.260%−$26 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.107%, 7d avg −0.111%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.111%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAUUSDT	4,360.6	0.0058	pay 0.0029% / 4h	3h 23m	$69.1M	$113.9M	100x
Short	Kalshi KXGOLDPERP	4,355.9	0	get 0.0000% / 24h	13h 23m	$4.0M	$36.6M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi 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 KalshibpOrdersPrice spread, now −0.107%Rate

Funding earned: −$12.18
Price spread: −0.107% → −0.111%: $0.37
Slippage, 4 orders: −$3.01
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$36.82
Costs to cover: 0.250%
Break-even: never at this rate

Slippage from Bitget: live order book, 1 min ago; Kalshi: live order book, 6 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, 1 min ago	0.01 bp	6.5 bp −$6	8.1 bp −$81	12.6 bp −$1,261	doesn't fit
Sell Kalshi live order book, 6 min ago	0.23 bp	6.5 bp −$7	7.0 bp −$70	9.4 bp −$940	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
Aster XAUUSD1	0.0000%	4h	4,359.4	−0.027%	$71.0M	$200.3M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.3	+0.016%	$266.3M	$416.6M	100x	as long as short
Kalshi KXGOLDPERPshort	0.0000%	24h	4,355.9	−0.107%	$4.0M	$36.6M	15x
SunX XAU-USDT	0.0000%	4h	4,363.6	+0.070%	$93K	$10.2M	20x	as long as short
Variational Omni XAU	0.0000%	4h	4,360.4	−0.004%	$47.8M	$28.1M	—	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,356.4	−0.095%	$267K	—	250x	as long as short
edgeX XAUUSDC	+0.0022%	4h	4,355.1	−0.125%	$30.3M	$60.4M	50x	as long as short
MEXC XAU_USDT	+0.0022%	4h	4,359.8	−0.019%	$372.9M	$328.1M	1000x	as long as short
Binance XAUUSDT	+0.0023%	4h	4,359.9	−0.015%	$411.7M	$2.15B	100x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.233%	$619	$54	52x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAU-USD	+0.0040%	1h	4,362.4	+0.042%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,356.7	−0.089%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,393.8	+0.762%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,358.3	−0.052%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,356.8	−0.087%	$293.8M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,354	−0.151%	$14.7M	$57.2M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,358.5	−0.048%	$48K	$64K	25x	as long as short
Bitget XAUUSDTlong	+0.0058%	4h	4,360.6	long leg	$69.1M	$113.9M	100x
Lighter XAU	+0.0072%	1h	4,359.1	−0.033%	$20.6M	$44.1M	25x	as long as short
Extended XAU-USD	+0.0080%	1h	4,356.2	−0.101%	$13.5M	$43.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,358.3	−0.052%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0088%	1h	4,359	−0.036%	$161K	$87	10x	as long as short
BloFin XAU-USDT	+0.0091%	4h	4,361.9	+0.030%	$15.5M	$4.5M	100x	as long as short
Lighter RH XAU	+0.0096%	1h	4,361.4	+0.018%	$20.2M	$41.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0096%	1h	4,355.3	−0.121%	$33K	—	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,354.3	−0.144%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,355	−0.128%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,357.8	−0.064%	$275K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,351.4	−0.211%	$25K	$22K	20x	as long as short
Bybit XAUUSDT	+0.0102%	4h	4,361	+0.009%	$83.3M	$144.3M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0121%	1h	4,358.6	−0.045%	$4.3M	$1.8M	20x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,361.1	+0.012%	$1.4M	$3.1M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0163%	1h	4,358.6	−0.045%	$235K	$656K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0199%	8h	4,361.2	+0.014%	$163.8M	$289.4M	100x	as long as short
Bullet GOLD-USD	+0.0211%	1h	4,360.3	−0.006%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0225%	1h	4,356.7	−0.088%	$594K	$151K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,360.4	−0.004%	$252K	—	111x	as long as short
Phemex XAUUSDT	+0.0532%	4h	4,363.1	+0.058%	$2.2M	$1.1M	100x	as long as short
HTX XAU-USDT	+0.0575%	4h	4,363.4	+0.064%	$2.9M	$3.9M	75x	as long as short