Funding arb · Price arb /

XAUT

all XAUT markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0203%/8h= +22.3% APRpaid last 24h −0.005%

Price spread now: Kraken Futures against MEXC+0.054%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on MEXC Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.049%+$5 on $10k

Price spread, last 4 days (all we have)+0.102%+$10 · spread now +0.054%, 7d avg +0.031%

Together, before fees+0.151%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Kraken Futures is 0.023% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.049% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAUT_USDT	4,345.4	−0.0016	get 0.0008% / 4h	1h 09m	$351.8M	$283.1M	1000x
Short	Kraken Futures PF_XAUTUSD	4,347.7	0.0187	get 0.0023% / 1h	9m 54s	$5.7M	$4.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now +0.054%Rate

Funding earned: $42.73
Price spread: +0.054% → +0.031%: $2.25
Slippage, 4 orders: −$1.36
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $29.62
Costs to cover: 0.154%
Break-even: 2.1 days

Slippage from MEXC: live order book, 4 min ago; Kraken Futures: live order book, 4 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 MEXC live order book, 4 min ago	0.12 bp	2.3 bp −$2	2.5 bp −$25	4.2 bp −$425	23.8 bp −$11.9K
Sell Kraken Futures live order book, 4 min ago	0.34 bp	5.6 bp −$6	7.0 bp −$70	15.8 bp −$1,582	doesn't fit

XAUT on 20 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
Aftermath Perps XAUTUSD	−0.0332%	1h	4,347.4	+0.046%	$56K	$29K	20x	as long as short
Bitget XAUTUSDT	−0.0036%	4h	4,346.4	+0.023%	$25.9M	$15.2M	75x	as long as short
MEXC XAUT_USDTlong	−0.0016%	4h	4,345.4	long leg	$351.8M	$283.1M	1000x
Bybit XAUTUSDT	−0.0014%	4h	4,346.5	+0.025%	$120.2M	$27.9M	75x	as long as short
Gate XAUT_USDT	0.0000%	8h	4,347.4	+0.046%	$130.3M	$8.2M	100x	as long as short
Variational Omni XAUT	+0.0007%	4h	4,343.2	−0.051%	$33.0M	$3.5M	—	as long as short
Injective XAUT/USDC PERP	+0.0033%	1h	4,349.8	+0.101%	$8K	$149K	30x	as long as short
SoDEX XAUT-USD	+0.0050%	1h	4,345.8	+0.009%	$10.1M	$2.0M	25x	as long as short
Binance XAUTUSDT	+0.0062%	4h	4,346.6	+0.028%	$35.1M	$45.7M	75x	as long as short
Extended XAUT-USD	+0.0064%	1h	4,344.7	−0.016%	$272K	$213K	25x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX XAUT-USDT	+0.0066%	4h	4,346.4	+0.023%	—	$17.8M	—	as long as short
Nado XAUT-PERP	+0.0100%	1h	4,345.7	+0.006%	$4.2M	$1.0M	10x	as long as short
KuCoin XAUTUSDTM	+0.0100%	4h	4,347.6	+0.052%	$11.5M	$2.9M	75x	as long as short
GRVT XAUT_USDT_Perp	+0.0100%	4h	4,347.2	+0.042%	$604	$109K	10x	as long as short
Orderly PERP_XAUT_USDC_mythos	+0.0100%	4h	4,344.9	−0.012%	$267	$17K	10x	as long as short
Derive XAUT-PERP	+0.0100%	1h	4,346.9	+0.035%	$1.8M	$284K	10x	as long as short
SunX XAUT-USDT	+0.0100%	4h	4,352	+0.151%	$2K	$3.4M	20x	as long as short
HTX XAUT-USDT	+0.0100%	4h	4,343.1	−0.052%	$1.8M	$234K	75x	as long as short
Kraken Futures PF_XAUTUSDshort	+0.0187%	1h	4,347.7	+0.054%	$5.7M	$4.6M	50x
BloFin XAUT-USDT	+0.0222%	4h	4,344.6	−0.018%	$2.3M	$1.6M	75x	as long as short