Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.033%

Price spread now: Variational Omni against Kalshi−0.001%7-day average +0.100% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kalshi Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.077%+$8 on $10k

Price spread, last 7 days+0.102%+$10 · spread now −0.001%, 7d avg +0.100%

Together, before fees+0.179%+ Points / potential airdropVariational Omni: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.101% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.001% now, against its 7-day average of +0.100%). If the spread goes back, that is −$10 on $10k: about 6.3 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXGOLDPERP	4,345.4	0.0052	pay 0.0155% / 24h	9h 03m	$4.2M	$39.3M	15x
Short	Variational Omni XAU	4,345.4	0.0105	get 0.0053% / 4h	3h 03m	$48.3M	$27.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kalshi. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KalshibpFee Variational OmnibpOrdersPrice spread, now −0.001%Rate

Funding earned: $11.28
Price spread: −0.001% → +0.100%: −$10.1
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$8.82
Costs to cover: 0.100%
Break-even: 12.5 days

Slippage unknown: Kalshi: live order book, 6 min ago; Variational Omni: RFQ quote, 1 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 Kalshi live order book, 6 min ago	0.46 bp	5.7 bp −$6	5.7 bp −$57	8.8 bp −$885	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	1.54 bp	doesn't fit	1.5 bp −$15	3.0 bp −$304	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
Bluefin GOLD-PERP	−0.0013%	1h	4,339.8	−0.130%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.2	+0.133%	$92K	$8.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,342.6	−0.064%	$272K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,345.9	+0.012%	$3.7M	$12.6M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,341.2	−0.097%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.116%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,345.3	−0.002%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,344.7	−0.016%	$5.6M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379	+0.773%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.2	−0.051%	$293.8M	$49.1M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,342.1	−0.076%	$15.0M	$56.8M	25x	as long as short
Kalshi KXGOLDPERPlong	+0.0052%	24h	4,345.4	long leg	$4.2M	$39.3M	15x
Lighter XAU	+0.0056%	1h	4,344.1	−0.030%	$20.7M	$34.8M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,342.7	−0.062%	$2.1M	$4.7M	25x	as long as short
Gate XAU_USDT	+0.0058%	4h	4,347.2	+0.041%	$268.4M	$419.4M	100x	as long as short
Bybit XAUUSDT	+0.0059%	4h	4,347.5	+0.047%	$80.0M	$152.1M	150x	as long as short
Paradex XAU-USD-PERP	+0.0068%	8h	4,345.5	+0.001%	$19K	$5K	5x	as long as short
Lighter RH XAU	+0.0088%	1h	4,346.5	+0.025%	$20.2M	$40.3M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,341.5	−0.090%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,341.7	−0.085%	$274K	$203K	50x	as long as short
Aster XAUUSD1	+0.0101%	4h	4,346.5	+0.026%	$71.5M	$331.5M	20x	as long as short
Variational Omni XAUshort	+0.0105%	4h	4,345.4	−0.001%	$48.3M	$27.6M	—
Aevo XAU-PERP	+0.0112%	1h	4,345.9	+0.011%	$161K	$87	10x	as long as short
MEXC XAU_USDT	+0.0120%	4h	4,345.4	0.000%	$370.2M	$322.2M	1000x	as long as short
Binance XAUUSDT	+0.0120%	4h	4,346.4	+0.022%	$418.7M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0121%	4h	4,342.4	−0.070%	$30.2M	$58.0M	50x	as long as short
Hotstuff GOLD-PERP	+0.0128%	1h	4,342.9	−0.058%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0136%	1h	4,341.7	−0.085%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0142%	4h	4,346.6	+0.028%	$1.4M	$2.9M	25x	as long as short
Phemex XAUUSDT	+0.0192%	4h	4,349.1	+0.084%	$2.2M	$967K	100x	as long as short
Polymarket Perps GOLD-USD	+0.0202%	1h	4,346.2	+0.018%	$4.2M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0206%	1h	4,347	+0.037%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0234%	1h	4,345.1	−0.007%	$204K	$826K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,343.4	−0.046%	$590K	$135K	25x	as long as short
Bitget XAUUSDT	+0.0276%	4h	4,346.8	+0.033%	$71.1M	$108.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0331%	8h	4,347.4	+0.046%	$167.4M	$283.3M	100x	as long as short
BloFin XAU-USDT	+0.0360%	4h	4,346.2	+0.018%	$15.8M	$4.4M	100x	as long as short
HTX XAU-USDT	+0.0384%	4h	4,347.9	+0.058%	$2.8M	$4.6M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,346.9	+0.035%	$250K	—	111x	as long as short