Funding you earn now, next payment 05:00 UTC−0.0163%/8h= −17.9% APRpaid last 24h −0.045%
Price spread now: Kalshi against Bullet−0.109%48s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Kalshi is 0.109% cheaper against Bullet than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bullet GOLD-USD | 4,343.1 | 0.0214 | pay 0.0027% / 1h | 37m 23s | $59K | $82K | 10x |
| Short | Kalshi KXGOLDPERP | 4,338.4 | 0.0051 | get 0.0152% / 24h | 9h 37m | $4.3M | $37.4M | 15x |
Bullet GOLD-USD
Kalshi KXGOLDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Bullet. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$34.27
- Price spread: −0.109% → 0.000%
- −$10.91
- Slippage, 4 orders
- no order book: not counted
- Fee Bullet: 4 bp × 2 orders
- −$8
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$63.18
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Bullet: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.
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 Bullet no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 2 min ago | 0.12 bp | 6.0 bp −$6 | 6.1 bp −$61 | 7.6 bp −$758 | doesn't fit |
Bullet: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 4,345.2 | +0.048% | $92K | $8.7M | 20x | as long as short |
| Bluefin GOLD-PERP | +0.0002% | 1h | 4,335.5 | −0.176% | $25K | $14K | 20x | as long as short |
| gTrade (Gains Network) XAU/USD | L +0.0002% / S −0.0003% | 1h | 4,339.5 | −0.083% | $271K | — | 250x | as long as short |
| RISEx XAU/USDC | +0.0005% | 1h | 4,341.2 | −0.045% | $3.5M | $12.1M | 25x | as long as short |
| Hotstuff GOLD-PERP | +0.0016% | 1h | 4,338.7 | −0.102% | $33K | — | 25x | as long as short |
| Extended XAU-USD | +0.0032% | 1h | 4,337.9 | −0.121% | $13.2M | $37.4M | 25x | as long as short |
| Injective XAU/USDC PERP | +0.0033% | 1h | 4,350.4 | +0.168% | $619 | $54 | 52x | as long as short |
| Gate XAU_USDT | +0.0038% | 4h | 4,344.8 | +0.039% | $268.0M | $414.5M | 100x | as long as short |
| Lighter RH XAU | +0.0040% | 1h | 4,343 | −0.004% | $20.1M | $39.3M | 25x | as long as short |
| StandX XAU-USD | +0.0040% | 1h | 4,341.9 | −0.029% | $3.8M | $4.5M | 40x | as long as short |
SunX XAU-USDT
Bluefin GOLD-PERP
gTrade (Gains Network) XAU/USD
RISEx XAU/USDC
Hotstuff GOLD-PERP
Extended XAU-USD
Injective XAU/USDC PERP
Gate XAU_USDT
Lighter RH XAU
StandX XAU-USDShow all 39 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Bybit XAUUSDT | +0.0041% | 4h | 4,343.8 | +0.016% | $80.3M | $151.8M | 150x | as long as short |
| QFEX GOLD-USD | +0.0042% | 1h | 4,340.3 | −0.065% | $5.5M | $2.1M | 20x | as long as short |
| Vest GC-PERP | +0.0046% | 1h | 4,375.1 | +0.736% | — | $1.0M | 25x | as long as short |
| Lighter XAU | +0.0048% | 1h | 4,340.7 | −0.055% | $20.8M | $34.5M | 25x | as long as short |
| tradeXYZ xyz:GOLD | +0.0050% | 1h | 4,340 | −0.072% | $293.6M | $49.2M | 25x | as long as short |
| Ondo Perps XAU-USD.P | +0.0050% | 1h | 4,338.7 | −0.103% | $15.1M | $56.9M | 25x | as long as short |
| Kalshi KXGOLDPERPshort | +0.0051% | 24h | 4,338.4 | −0.109% | $4.3M | $37.4M | 15x | |
| Coinbase International GOLD-PERP-INTX | +0.0056% | 1h | 4,338.5 | −0.107% | $2.1M | $4.8M | 25x | as long as short |
| Aster XAUUSD1 | +0.0081% | 4h | 4,344.2 | +0.024% | $71.5M | $332.3M | 20x | as long as short |
| Paradex XAU-USD-PERP | +0.0085% | 8h | 4,341.7 | −0.033% | $19K | $5K | 5x | as long as short |
| Variational Omni XAU | +0.0087% | 4h | 4,340.5 | −0.062% | $48.3M | $27.7M | — | as long as short |
| Pacifica XAU | +0.0100% | 1h | 4,338.1 | −0.116% | $1.4M | $1.1M | 10x | as long as short |
| ApeX Omni XAUUSDT | +0.0100% | 1h | 4,337.5 | −0.129% | $274K | $203K | 50x | as long as short |
| MEXC XAU_USDT | +0.0104% | 4h | 4,343.3 | +0.003% | $370.3M | $319.3M | 1000x | as long as short |
| Aevo XAU-PERP | +0.0104% | 1h | 4,342 | −0.026% | $161K | $87 | 10x | as long as short |
| Binance XAUUSDT | +0.0107% | 4h | 4,343.6 | +0.010% | $417.6M | $2.09B | 100x | as long as short |
| edgeX XAUUSDC | +0.0112% | 4h | 4,336.6 | −0.149% | $30.2M | $58.3M | 50x | as long as short |
| Phoenix GOLD | +0.0136% | 1h | 4,339.5 | −0.084% | $47K | $77K | 25x | as long as short |
| GRVT XAU_USDT_Perp | +0.0178% | 4h | 4,341.1 | −0.046% | $1.4M | $2.9M | 25x | as long as short |
| Bullet GOLD-USDlong | +0.0214% | 1h | 4,343.1 | long leg | $59K | $82K | 10x | |
| Polymarket Perps GOLD-USD | +0.0216% | 1h | 4,342.6 | −0.012% | $4.3M | $1.9M | 20x | as long as short |
| Deribit GOLD_USDC-PERPETUAL | +0.0234% | 1h | 4,339.6 | −0.082% | $205K | $828K | 25x | as long as short |
| Bitget XAUUSDT | +0.0250% | 4h | 4,344 | +0.019% | $71.1M | $109.3M | 100x | as long as short |
| Kraken Futures PF_XAUUSD | +0.0259% | 1h | 4,338.1 | −0.116% | $592K | $132K | 25x | as long as short |
| OKX XAU-USDT-SWAP | +0.0319% | 8h | 4,344.4 | +0.029% | $166.8M | $281.9M | 100x | as long as short |
| Phemex XAUUSDT | +0.0337% | 4h | 4,344.5 | +0.032% | $2.2M | $967K | 100x | as long as short |
| BloFin XAU-USDT | +0.0372% | 4h | 4,341.7 | −0.032% | $15.6M | $4.4M | 100x | as long as short |
| GMX GOLD/USD [ETH-USDC] | L +0.0427% / S −0.0252% | 1h | 4,343.7 | +0.013% | $250K | — | 111x | as long as short |
| HTX XAU-USDT | +0.0624% | 4h | 4,345.7 | +0.059% | $2.8M | $4.6M | 75x | as long as short |
Bybit XAUUSDT
QFEX GOLD-USD
Vest GC-PERP
Lighter XAU
tradeXYZ xyz:GOLD
Ondo Perps XAU-USD.P
Coinbase International GOLD-PERP-INTX
Aster XAUUSD1
Paradex XAU-USD-PERP
Variational Omni XAU
Pacifica XAU
ApeX Omni XAUUSDT
MEXC XAU_USDT
Aevo XAU-PERP
Binance XAUUSDT
edgeX XAUUSDC
Phoenix GOLD
GRVT XAU_USDT_Perp
Polymarket Perps GOLD-USD
Deribit GOLD_USDC-PERPETUAL
Bitget XAUUSDT
Kraken Futures PF_XAUUSD
OKX XAU-USDT-SWAP
Phemex XAUUSDT
BloFin XAU-USDT
GMX GOLD/USD [ETH-USDC]
HTX XAU-USDT