Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0138%/8h= +15.1% APRpaid last 24h +0.045%

Price spread now: Kraken Futures against Variational Omni−0.043%7-day average −0.057% · you buy dearer than you sell

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.135%+$14 on $10k

Price spread, last 4 days (all we have)−0.010%−$1 · spread now −0.043%, 7d avg −0.057%

Together, before fees+0.125%+ Points / potential airdropVariational Omni: Active · farm board+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.057%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAU	4,324.9	0.0089	pay 0.0045% / 4h	34m 49s	$47.2M	$29.3M	—
Short	Kraken Futures PF_XAUUSD	4,323	0.0228	get 0.0028% / 1h	34m 49s	$578K	$135K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.043%Rate

Funding earned: $29.01
Price spread: −0.043% → −0.057%: $1.41
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $20.42
Costs to cover: 0.100%
Break-even: 2.1 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; Kraken Futures: live order book, 3 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 Variational Omni RFQ quote, 4 min ago	1.54 bp	doesn't fit	1.5 bp −$15	2.9 bp −$290	doesn't fit
Sell Kraken Futures live order book, 3 min ago	2.53 bp	8.3 bp −$8	17.4 bp −$174	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
Bluefin GOLD-PERP	−0.0111%	1h	4,319.9	−0.116%	$25K	$1K	20x	as long as short
Hotstuff GOLD-PERP	−0.0096%	1h	4,322.2	−0.062%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,330.3	+0.126%	$92K	$7.3M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,321.5	−0.078%	$270K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.590%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,328.4	+0.081%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,324.6	−0.007%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,358.3	+0.772%	—	$1.0M	25x	as long as short
Bybit XAUUSDT	+0.0047%	4h	4,327.4	+0.058%	$77.6M	$153.2M	150x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,322.6	−0.053%	$291.8M	$51.5M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,321.4	−0.081%	$15.0M	$55.6M	25x	as long as short
Aster XAUUSD1	+0.0056%	4h	4,327.2	+0.054%	$72.9M	$272.0M	20x	as long as short
Lighter XAU	+0.0064%	1h	4,324.9	+0.001%	$20.3M	$29.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0066%	8h	4,324.9	+0.001%	$2K	$14K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322.9	−0.046%	$2.1M	$4.8M	25x	as long as short
Variational Omni XAUlong	+0.0089%	4h	4,324.9	long leg	$47.2M	$29.3M	—
Kalshi KXGOLDPERP	+0.0092%	24h	4,327.3	+0.056%	$3.8M	$44.6M	15x	as long as short
Phoenix GOLD	+0.0096%	1h	4,323.8	−0.025%	$47K	$79K	25x	as long as short
MEXC XAU_USDT	+0.0098%	4h	4,326.9	+0.046%	$364.0M	$327.2M	1000x	as long as short
GRVT XAU_USDT_Perp	+0.0098%	4h	4,326.6	+0.039%	$1.4M	$3.1M	25x	as long as short
Binance XAUUSDT	+0.0100%	4h	4,326.2	+0.030%	$425.2M	$2.13B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,322	−0.067%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.5	−0.010%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,324.9	0.000%	$160K	$87	10x	as long as short
Gate XAU_USDT	+0.0106%	4h	4,328.7	+0.088%	$284.8M	$415.6M	100x	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,323.1	−0.042%	$30.1M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0120%	1h	4,327.6	+0.063%	$20.0M	$39.1M	25x	as long as short
Extended XAU-USD	+0.0128%	1h	4,322.6	−0.052%	$13.2M	$36.8M	25x	as long as short
Bitget XAUUSDT	+0.0194%	4h	4,326.2	+0.031%	$70.2M	$118.6M	100x	as long as short
Bullet GOLD-USD	+0.0204%	1h	4,326	+0.026%	$58K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0218%	1h	4,325.7	+0.019%	$4.3M	$1.9M	20x	as long as short
Kraken Futures PF_XAUUSDshort	+0.0228%	1h	4,323	−0.043%	$578K	$135K	25x
Deribit GOLD_USDC-PERPETUAL	+0.0236%	1h	4,324.2	−0.016%	$163K	$870K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0277%	8h	4,326.8	+0.044%	$173.8M	$299.5M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,325.8	+0.020%	$16.4M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0362%	4h	4,328.9	+0.094%	$2.2M	$975K	100x	as long as short
HTX XAU-USDT	+0.0411%	4h	4,331.9	+0.161%	$3.2M	$5.9M	75x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,326	+0.026%	$253K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,325.7	+0.018%	$4.6M	$13.3M	25x	as long as short