XAU

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0146%/8h= −16.0% APRnext payment −$0.18 per $10,000 · paid last 24h −0.057%

Price spread now: Coinbase International against Kraken Futures−0.008%7-day average −0.033% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

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

costs, in and out, $10k−$280.280% of the position

Long on Kraken Futures Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now −0.008%, 7d avg −0.033%

Together, before fees+0.152%+$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.025% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.008% now, against its 7-day average of −0.033%): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.198%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,344	0.0194	pay 0.0024% / 1h	9m 54s	$592K	$132K	25x
Short	Coinbase International GOLD-PERP-INTX	4,343.7	0.0048	get 0.0006% / 1h	9m 54s	$2.0M	$4.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Kraken Futures. 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 Kraken FuturesbpFee Coinbase InternationalbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$30.62
Price spread: −0.008% → −0.033%: $2.54
Slippage, 4 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$56.08
Costs to cover: 0.280%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 48 min ago; Coinbase International: live order book, 4 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 Kraken Futures live order book, 48 min ago	2.97 bp	8.2 bp −$8	14.0 bp −$140	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	0.12 bp	6.3 bp −$6	8.2 bp −$82	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
RISEx XAU/USDC	0.0000%	1h	4,346.4	+0.054%	$3.4M	$12.3M	25x	as long as short
Hotstuff GOLD-PERP	0.0000%	1h	4,342.7	−0.031%	$33K	—	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,349.5	+0.126%	$266.5M	$417.5M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,351.3	+0.166%	$92K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,343.1	−0.021%	$272K	—	250x	as long as short
Lighter XAU	+0.0032%	1h	4,346.1	+0.047%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.6	−0.009%	$13.2M	$38.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.147%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,348.6	+0.105%	$20.1M	$39.4M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.4	+0.078%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0041%	1h	4,346.1	+0.048%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.5	+0.817%	—	$1.0M	25x	as long as short
Coinbase International GOLD-PERP-INTXshort	+0.0048%	1h	4,343.7	−0.008%	$2.0M	$4.8M	25x
Kalshi KXGOLDPERP	+0.0049%	24h	4,345.3	+0.029%	$4.2M	$37.4M	15x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,344.8	+0.018%	$293.9M	$49.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.1	−0.020%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0061%	4h	4,349	+0.113%	$71.4M	$333.1M	20x	as long as short
Variational Omni XAU	+0.0076%	4h	4,345.3	+0.029%	$48.4M	$28.2M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,346.3	+0.053%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0086%	4h	4,346.5	+0.056%	$1.4M	$2.9M	25x	as long as short
MEXC XAU_USDT	+0.0088%	4h	4,347.8	+0.087%	$372.8M	$320.5M	1000x	as long as short
Binance XAUUSDT	+0.0089%	4h	4,347.9	+0.089%	$413.9M	$2.10B	100x	as long as short
edgeX XAUUSDC	+0.0099%	4h	4,343.2	−0.020%	$30.2M	$58.3M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,343	−0.024%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,343.3	−0.018%	$274K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,340.4	−0.084%	$25K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,346.3	+0.052%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,344.7	+0.015%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0164%	1h	4,346.9	+0.066%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0187%	1h	4,347	+0.068%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0194%	1h	4,344	long leg	$592K	$132K	25x
Phemex XAUUSDT	+0.0232%	4h	4,349.4	+0.123%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,348.4	+0.100%	$70.1M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,349.2	+0.120%	$85.1M	$145.4M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0256%	1h	4,345.7	+0.038%	$206K	$825K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0298%	8h	4,349	+0.114%	$165.3M	$282.1M	100x	as long as short
BloFin XAU-USDT	+0.0329%	4h	4,346.1	+0.048%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0418% / S −0.0239%	1h	4,347.3	+0.075%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0619%	4h	4,351.3	+0.167%	$2.8M	$4.6M	75x	as long as short