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Price arb /

XAU

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Spread before costs (cost unknown: a leg has no order-book sample)−0.071%
7d average−0.102%if it closes, per $10,000$7funding while held, a day−$2.58
Long on Variational OmniShort on Kalshi
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongVariational Omni XAU4,351.30.0125pay 0.0063% / 4h1h 07m$47.7M$34.5M—
ShortKalshi KXGOLDPERP4,348.20.0040get 0.0119% / 24h19h 07m$4.2M$30.7M15x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$7.14
Funding while held
−$2.58
Slippage, 4 orders
no order book: not counted
Fee Variational Omni: 0 bp × 2 orders
$0
Fee Kalshi: 5 bp × 2 orders
−$10
Net
−$19.72
Spread needed to break even
0.100%
Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Kalshi: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view
Funding /8h
−0.0086%
Per $10,000 a day
−$2.58
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Variational Omni RFQ quote, 3 min ago1.55 bpdoesn't fit1.6 bp −$162.3 bp −$226doesn't fit
Sell Kalshi live order book, 3 min ago0.12 bp5.1 bp −$55.1 bp −$516.4 bp −$636doesn't fit

XAU price on every exchange

against the cheapest. Click to use as the short leg.
Bluefin4,345.4cheapestOndo Perps4,347.5+0.048%gTrade (Gains Network)4,347.6+0.052%
Kalshi4,348.2+0.065%
Extended4,348.3+0.067%Phoenix4,349+0.084%Coinbase International4,349+0.084%ApeX Omni4,349.2+0.088%Pacifica4,349.3+0.090%Hotstuff4,349.5+0.095%edgeX4,349.5+0.095%Kraken Futures4,349.8+0.101%tradeXYZ4,349.8+0.102%Injective4,350.4+0.116%Deribit4,350.7+0.123%Bullet4,351.1+0.133%GMX4,351.1+0.133%BloFin4,351.2+0.133%
Variational Omni4,351.3+0.137%
Lighter4,351.4+0.139%Bitget4,351.4+0.139%MEXC4,351.5+0.142%Aevo4,351.5+0.142%RISEx4,351.6+0.143%Binance4,351.6+0.143%Aster4,351.9+0.149%QFEX4,352+0.153%Polymarket Perps4,352+0.153%StandX4,352.2+0.157%Paradex4,352.2+0.158%OKX4,352.5+0.164%Bybit4,352.7+0.169%Gate4,353.3+0.182%Phemex4,354.2+0.203%Lighter RH4,354.7+0.214%HTX4,355.2+0.226%SunX4,355.7+0.238%Vest4,386.6+0.949%

XAU on 38 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Bluefin GOLD-PERP−0.136%−0.0065%1h$26K$21K20xas long as short
Ondo Perps XAU-USD.P−0.088%+0.0050%1h$14.8M$49.3M25xas long as short
gTrade (Gains Network) XAU/USD−0.084%L +0.0002% / S −0.0003%1h$267K—250xas long as short
Kalshi KXGOLDPERPshort−0.071%+0.0040%24h$4.2M$30.7M15x
Extended XAU-USD−0.070%+0.0192%1h$13.3M$50.9M25xas long as short
Phoenix GOLD−0.053%+0.0088%1h$43K$65K25xas long as short
Coinbase International GOLD-PERP-INTX−0.053%+0.0064%1h$2.0M$5.2M25xas long as short
ApeX Omni XAUUSDT−0.049%+0.0100%1h$273K$203K50xas long as short
Pacifica XAU−0.046%+0.0100%1h$1.4M$1.3M10xas long as short
Hotstuff GOLD-PERP−0.042%+0.0032%1h$33K—25xas long as short
Show all 38 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
edgeX XAUUSDC−0.041%+0.0141%4h$30.3M$56.1M50xas long as short
Kraken Futures PF_XAUUSD−0.035%+0.0310%1h$588K$108K25xas long as short
tradeXYZ xyz:GOLD−0.035%+0.0050%1h$294.5M$61.2M25xas long as short
Injective XAU/USDC PERP−0.020%+0.0033%1h$619$5452xas long as short
Deribit GOLD_USDC-PERPETUAL−0.014%+0.0348%1h$223K$963K25xas long as short
Bullet GOLD-USD−0.004%+0.0108%1h$59K$77K10xas long as short
GMX GOLD/USD [ETH-USDC]−0.004%L +0.0443% / S −0.0269%1h$251K—111xas long as short
BloFin XAU-USDT−0.004%+0.0376%4h$14.9M$4.1M100xas long as short
Variational Omni XAUlong0.000%+0.0125%4h$47.7M$34.5M—
Lighter XAU+0.002%+0.0088%1h$20.8M$45.9M25xas long as short
Bitget XAUUSDT+0.002%+0.0268%4h$69.3M$108.5M100xas long as short
MEXC XAU_USDT+0.005%+0.0136%4h$383.6M$333.0M1000xas long as short
Aevo XAU-PERP+0.005%+0.0112%1h$161K$8710xas long as short
RISEx XAU/USDC+0.006%0.0000%1h$3.5M$12.1M25xas long as short
Binance XAUUSDT+0.006%+0.0137%4h$414.3M$2.05B100xas long as short
Aster XAUUSD1+0.012%+0.0157%4h$70.1M$240.0M20xas long as short
QFEX GOLD-USD+0.016%+0.0049%1h$5.4M$2.1M20xas long as short
Polymarket Perps GOLD-USD+0.016%+0.0201%1h$4.4M$2.3M20xas long as short
StandX XAU-USD+0.021%+0.0040%1h$3.8M$4.2M40xas long as short
Paradex XAU-USD-PERP+0.022%+0.0075%8h$19K$6K5xas long as short
OKX XAU-USDT-SWAP+0.027%+0.0286%8h$156.4M$263.5M100xas long as short
Bybit XAUUSDT+0.032%+0.0146%4h$83.8M$138.9M150xas long as short
Gate XAU_USDT+0.045%+0.0046%4h$274.8M$403.2M100xas long as short
Phemex XAUUSDT+0.066%+0.0324%4h$2.2M$1.1M100xas long as short
Lighter RH XAU+0.077%+0.0168%1h$20.3M$45.1M25xas long as short
HTX XAU-USDT+0.089%+0.0298%4h$2.9M$3.3M75xas long as short
SunX XAU-USDT+0.101%0.0000%4h$93K$11.0M20xas long as short
Vest GC-PERP+0.811%+0.0046%1h—$995K25xas long as short