Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.015%

Price spread now: Kalshi against Ondo Perps+0.008%7-day average +0.025% · you sell dearer than you buy

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

Long on Ondo Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.116%−$12 on $10k

Price spread, last 7 days+0.027%+$3 · spread now +0.008%, 7d avg +0.025%

Together, before fees−0.089%+ Points / potential airdropOndo Perps: Active · farm board−$9 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,338.7	0.0050	pay 0.0006% / 1h	37m 02s	$15.1M	$56.9M	25x
Short	Kalshi KXGOLDPERP	4,339	0.0051	get 0.0152% / 24h	9h 37m	$4.3M	$37.4M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Ondo Perps. 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 Ondo PerpsbpFee KalshibpOrdersPrice spread, now +0.008%Rate

Funding earned: $0.08
Price spread: +0.008% → +0.025%: −$1.72
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$16.65
Costs to cover: 0.150%
Break-even: 1506.2 days

Slippage unknown: Ondo Perps: no order-book sample; Kalshi: live order book, 2 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	0.12 bp	6.0 bp −$6	6.1 bp −$61	7.6 bp −$758	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	4,347.7	+0.208%	$92K	$8.7M	20x	as long as short
Bluefin GOLD-PERP	+0.0002%	1h	4,335.5	−0.073%	$25K	$14K	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,339.5	+0.021%	$271K	—	250x	as long as short
RISEx XAU/USDC	+0.0005%	1h	4,341.2	+0.058%	$3.5M	$12.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,338.7	+0.001%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,339.2	+0.013%	$13.3M	$37.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.271%	$619	$54	52x	as long as short
Gate XAU_USDT	+0.0038%	4h	4,344.8	+0.141%	$268.0M	$414.5M	100x	as long as short
Lighter RH XAU	+0.0040%	1h	4,344.3	+0.129%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,341.9	+0.075%	$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
Bybit XAUUSDT	+0.0041%	4h	4,343.9	+0.121%	$80.2M	$152.0M	150x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,340.3	+0.038%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,375.1	+0.840%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,342.1	+0.079%	$20.8M	$34.5M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,340	+0.031%	$293.6M	$49.2M	25x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,338.7	long leg	$15.1M	$56.9M	25x
Kalshi KXGOLDPERPshort	+0.0051%	24h	4,339	+0.008%	$4.3M	$37.4M	15x
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,339.5	+0.020%	$2.1M	$4.8M	25x	as long as short
Aster XAUUSD1	+0.0081%	4h	4,344.6	+0.138%	$71.5M	$332.3M	20x	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,341.7	+0.070%	$19K	$5K	5x	as long as short
Variational Omni XAU	+0.0087%	4h	4,340.5	+0.042%	$48.3M	$27.7M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,338.1	−0.013%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,337.5	−0.026%	$274K	$203K	50x	as long as short
MEXC XAU_USDT	+0.0104%	4h	4,343.4	+0.110%	$370.3M	$319.4M	1000x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,342	+0.078%	$161K	$87	10x	as long as short
Binance XAUUSDT	+0.0107%	4h	4,343.5	+0.112%	$417.6M	$2.09B	100x	as long as short
edgeX XAUUSDC	+0.0112%	4h	4,336.6	−0.046%	$30.2M	$58.3M	50x	as long as short
Phoenix GOLD	+0.0136%	1h	4,339.5	+0.020%	$47K	$77K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0178%	4h	4,341.1	+0.057%	$1.4M	$2.9M	25x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,343.1	+0.104%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0216%	1h	4,342.6	+0.091%	$4.3M	$1.9M	20x	as long as short
Bitget XAUUSDT	+0.0250%	4h	4,343.6	+0.113%	$71.1M	$109.3M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0257%	1h	4,341.7	+0.070%	$205K	$828K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0259%	1h	4,340.3	+0.037%	$592K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0294%	4h	4,345.1	+0.148%	$2.2M	$967K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0319%	8h	4,344.5	+0.135%	$166.8M	$282.0M	100x	as long as short
BloFin XAU-USDT	+0.0379%	4h	4,343	+0.099%	$15.7M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0427% / S −0.0252%	1h	4,343.7	+0.116%	$250K	—	111x	as long as short
HTX XAU-USDT	+0.0618%	4h	4,346.4	+0.178%	$2.8M	$4.6M	75x	as long as short