Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h −0.015%

Price spread now: Kalshi against Gate−0.027%7-day average −0.128% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on Gate Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 7 days−0.101%−$10 · spread now −0.027%, 7d avg −0.128%

Together, before fees−0.173%−$17 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 0.101% dearer against Gate than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.128%. Mind the row above: over the last 7 days funding on this pair cost −0.072%, 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	Gate XAU_USDT	4,342.1	0.0110	pay 0.0055% / 4h	2h 00m	$301.3M	$452.9M	100x
Short	Kalshi KXGOLDPERP	4,340.9	0.0134	get 0.0401% / 24h	4h 00m	$3.5M	$50.9M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Gate. 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 GatebpFee KalshibpOrdersPrice spread, now −0.027%Rate

Funding earned: $4.99
Price spread: −0.027% → −0.128%: $10.07
Slippage, 4 orders: −$2.6
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$12.54
Costs to cover: 0.276%
Break-even: 24.6 days

Slippage from Gate: live order book, 2 min ago; Kalshi: live order book, 2 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 Gate live order book, 2 min ago	0.01 bp	8.0 bp −$8	9.2 bp −$92	16.4 bp −$1,642	23.2 bp −$11.6K
Sell Kalshi live order book, 2 min ago	0.23 bp	6.5 bp −$6	7.9 bp −$79	13.5 bp −$1,348	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
Hotstuff GOLD-PERP	−2.8040%	1h	4,318.3	−0.547%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,345.8	+0.085%	$92K	$6.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,333	−0.209%	$279K	—	250x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0024%	1h	4,335.6	−0.149%	$2.1M	$5.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.192%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0038%	1h	4,338.3	−0.087%	$6.7M	$3.2M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,337.6	−0.103%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,372.6	+0.703%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,336.9	−0.119%	$292.8M	$53.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,336.3	−0.134%	$15.0M	$58.5M	25x	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	+0.0055%	8h	4,340.4	−0.039%	$2K	$13K	5x	as long as short
RISEx XAU/USDC	+0.0056%	1h	4,336	−0.140%	$4.7M	$13.3M	25x	as long as short
Aster XAUUSD1	+0.0075%	4h	4,342.3	+0.006%	$73.2M	$275.7M	20x	as long as short
Phoenix GOLD	+0.0076%	1h	4,330.5	−0.266%	$43K	$72K	25x	as long as short
Variational Omni XAU	+0.0091%	4h	4,335.3	−0.155%	$47.3M	$29.3M	—	as long as short
Lighter XAU	+0.0096%	1h	4,339.5	−0.060%	$20.3M	$30.7M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,336.3	−0.134%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.9	−0.257%	$284K	$223K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,334	−0.186%	$25K	$1K	20x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,340.4	−0.040%	$366.6M	$369.1M	1000x	as long as short
Binance XAUUSDT	+0.0108%	4h	4,340.2	−0.043%	$443.6M	$2.42B	100x	as long as short
Gate XAU_USDTlong	+0.0110%	4h	4,342.1	long leg	$301.3M	$452.9M	100x
Bybit XAUUSDT	+0.0111%	4h	4,341.7	−0.008%	$81.7M	$172.9M	150x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,336.8	−0.121%	$1.4M	$3.1M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,340	−0.048%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,331.5	−0.244%	$30.3M	$66.8M	50x	as long as short
Kalshi KXGOLDPERPshort	+0.0134%	24h	4,340.9	−0.027%	$3.5M	$50.9M	15x
Polymarket Perps GOLD-USD	+0.0138%	1h	4,340.4	−0.038%	$4.3M	$1.7M	20x	as long as short
Lighter RH XAU	+0.0152%	1h	4,342.8	+0.016%	$19.7M	$41.3M	25x	as long as short
Extended XAU-USD	+0.0152%	1h	4,337.6	−0.104%	$12.6M	$34.9M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0188%	1h	4,339.8	−0.052%	$135K	$714K	25x	as long as short
Bullet GOLD-USD	+0.0198%	1h	4,341.3	−0.017%	$59K	$76K	10x	as long as short
Bitget XAUUSDT	+0.0218%	4h	4,340.6	−0.035%	$73.6M	$137.4M	100x	as long as short
Phemex XAUUSDT	+0.0220%	4h	4,341.4	−0.015%	$2.3M	$782K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0242%	8h	4,341.1	−0.022%	$170.9M	$360.1M	100x	as long as short
BloFin XAU-USDT	+0.0349%	4h	4,335.8	−0.146%	$16.3M	$5.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0410%	1h	4,338.8	−0.075%	$584K	$165K	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,341.3	−0.017%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1122%	4h	4,346.9	+0.110%	$3.2M	$7.0M	75x	as long as short