Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0112%/8h= −12.3% APRpaid last 24h −0.065%

Price spread now: Gate against Kraken Futures+0.038%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$320.318% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.304%−$30 on $10k

Price spread, last 4 days (all we have)+0.048%+$5 · spread now +0.038%, 7d avg +0.095%

Together, before fees−0.257%−$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Gate is 0.056% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.095%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAUUSD	4,307.5	0.0228	pay 0.0029% / 1h	7m 45s	$573K	$138K	25x
Short	Gate XAU_USDT	4,309.1	0.0116	get 0.0058% / 4h	7m 45s	$284.3M	$429.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.038%Rate

Funding earned: −$23.62
Price spread: +0.038% → +0.095%: −$5.62
Slippage, 4 orders: −$6.75
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$60.99
Costs to cover: 0.318%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 30 min ago; Gate: 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, 30 min ago	2.53 bp	8.4 bp −$8	12.4 bp −$124	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	0.01 bp	7.5 bp −$8	7.6 bp −$76	12.5 bp −$1,255	14.3 bp −$7,158

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
Hotstuff GOLD-PERP	−0.0032%	1h	4,308.8	+0.031%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,313.8	+0.147%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,306.1	−0.032%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.997%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,309.3	+0.043%	$5.7M	$2.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,343.2	+0.830%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303.1	−0.101%	$290.0M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,303.7	−0.087%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,308.8	+0.030%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0063%	8h	4,306.9	−0.014%	$2K	$14K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bluefin GOLD-PERP	+0.0063%	1h	4,305.1	−0.055%	$25K	$1K	20x	as long as short
Bybit XAUUSDT	+0.0071%	4h	4,308.2	+0.017%	$77.5M	$154.8M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,306.4	−0.026%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,306.4	−0.025%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.149%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0099%	24h	4,312.9	+0.126%	$3.7M	$45.2M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.209%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,304.1	−0.078%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.140%	$272K	$209K	50x	as long as short
StandX XAU-USD	+0.0103%	1h	4,320	+0.291%	$3.8M	$4.5M	40x	as long as short
Lighter RH XAU	+0.0104%	1h	4,308.9	+0.034%	$19.9M	$40.2M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,303.1	−0.101%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDT	+0.0108%	4h	4,307.3	−0.004%	$365.3M	$339.7M	1000x	as long as short
Binance XAUUSDT	+0.0110%	4h	4,306.8	−0.016%	$428.9M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.200%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,309.5	+0.046%	$160K	$87	10x	as long as short
Gate XAU_USDTshort	+0.0116%	4h	4,309.1	+0.038%	$284.3M	$429.8M	100x
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.132%	$30.0M	$59.8M	50x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,306.8	−0.016%	$70.3M	$121.2M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,310.7	+0.074%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,311.1	+0.084%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSDlong	+0.0228%	1h	4,307.5	long leg	$573K	$138K	25x
Deribit GOLD_USDC-PERPETUAL	+0.0261%	1h	4,308.6	+0.026%	$136K	$864K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,307.4	−0.002%	$175.1M	$304.6M	100x	as long as short
BloFin XAU-USDT	+0.0350%	4h	4,312.8	+0.123%	$16.5M	$4.9M	100x	as long as short
Phemex XAUUSDT	+0.0432%	4h	4,313.4	+0.138%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0312%	1h	4,310.7	+0.074%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0537%	4h	4,318	+0.245%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	−0.003%	$4.5M	$13.1M	25x	as long as short