Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0099%/8h= −10.8% APRpaid last 24h −0.039%

Price spread now: edgeX against Kraken Futures−0.011%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

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

costs, in and out, $10k−$260.264% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.161%−$16 on $10k

Price spread, last 4 days (all we have)−0.151%−$15 · spread now −0.011%, 7d avg −0.091%

Together, before fees−0.311%+ Points / potential airdropedgeX: Active · farm board−$31 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.080% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.011% now, against its 7-day average of −0.091%): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,304.6	0.0229	pay 0.0029% / 1h	3m 23s	$573K	$138K	25x
Short	edgeX XAUUSDC	4,304.2	0.0130	get 0.0065% / 4h	3m 23s	$29.9M	$60.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$20.76
Price spread: −0.011% → −0.091%: $8.04
Slippage, 4 orders: −$7.41
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$39.13
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 35 min ago; edgeX: live order book, 1 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, 35 min ago	2.53 bp	8.4 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell edgeX live order book, 1 min ago	0.23 bp	4.7 bp −$5	4.7 bp −$47	7.9 bp −$787	36.3 bp −$18.2K

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	4,311	+0.147%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,303	−0.038%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.064%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,305.2	+0.013%	$6.6M	$3.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,338.8	+0.794%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.4	−0.029%	$289.7M	$52.9M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.6	−0.024%	$15.0M	$55.2M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,308.5	+0.090%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,306.1	+0.034%	$2K	$14K	5x	as long as short
Bybit XAUUSDT	+0.0071%	4h	4,307.7	+0.071%	$77.3M	$155.6M	150x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAU	+0.0072%	1h	4,305.5	+0.020%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,301.8	−0.066%	$2.0M	$5.1M	25x	as long as short
Bluefin GOLD-PERP	+0.0086%	1h	4,301.9	−0.063%	$25K	$1K	20x	as long as short
Phoenix GOLD	+0.0096%	1h	4,305.5	+0.020%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,303	−0.038%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,304	−0.016%	$269K	$214K	50x	as long as short
Kalshi KXGOLDPERP	+0.0100%	24h	4,308.9	+0.099%	$3.6M	$45.5M	15x	as long as short
Variational Omni XAU	+0.0101%	4h	4,306.5	+0.044%	$46.7M	$29.3M	—	as long as short
Lighter RH XAU	+0.0104%	1h	4,308	+0.078%	$19.9M	$40.3M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,303.1	−0.035%	$13.1M	$36.7M	25x	as long as short
MEXC XAU_USDT	+0.0110%	4h	4,307.1	+0.058%	$365.6M	$342.8M	1000x	as long as short
Binance XAUUSDT	+0.0112%	4h	4,307.1	+0.056%	$429.0M	$2.16B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,306.6	+0.045%	$159K	$87	10x	as long as short
GRVT XAU_USDT_Perp	+0.0114%	4h	4,308	+0.078%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0118%	4h	4,309.2	+0.107%	$287.8M	$432.7M	100x	as long as short
Hotstuff GOLD-PERP	+0.0120%	1h	4,303.9	−0.017%	$32K	—	25x	as long as short
edgeX XAUUSDCshort	+0.0130%	4h	4,304.2	−0.011%	$29.9M	$60.3M	50x
StandX XAU-USD	+0.0161%	1h	4,309.9	+0.122%	$3.8M	$4.5M	40x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0191%	1h	4,305.8	+0.027%	$136K	$866K	25x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,307.1	+0.058%	$70.7M	$121.8M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,307	+0.055%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,307.2	+0.060%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0229%	1h	4,304.6	long leg	$573K	$138K	25x
OKX XAU-USDT-SWAP	+0.0259%	8h	4,306	+0.032%	$172.8M	$311.4M	100x	as long as short
BloFin XAU-USDT	+0.0373%	4h	4,307.1	+0.056%	$16.6M	$4.9M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,307	+0.056%	$253K	—	111x	as long as short
Phemex XAUUSDT	+0.0496%	4h	4,311.5	+0.160%	$2.2M	$951K	100x	as long as short
HTX XAU-USDT	+0.0547%	4h	4,314.1	+0.220%	$3.2M	$6.2M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	+0.065%	$4.5M	$13.1M	25x	as long as short