Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0084%/8h= +9.2% APRpaid last 24h +0.008%

Price spread now: MEXC against Coinbase International+0.101%7-day average +0.095% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$160.159% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.371%−$37 on $10k

Price spread, last 4 days (all we have)−0.042%−$4 · spread now +0.101%, 7d avg +0.095%

Together, before fees−0.413%−$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.095%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.371%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,327.9	0	get 0.0000% / 1h	6m 48s	$2.1M	$5.0M	25x
Short	MEXC XAU_USDT	4,332.3	0.0084	get 0.0042% / 4h	1h 06m	$368.2M	$358.0M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.101%Rate

Funding earned: $17.64
Price spread: +0.101% → +0.095%: $0.54
Slippage, 4 orders: −$1.89
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $2.3
Costs to cover: 0.159%
Break-even: 6.1 days

Slippage from Coinbase International: live order book, 5 min ago; MEXC: live order book, 5 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 Coinbase International live order book, 5 min ago	0.12 bp	5.8 bp −$6	8.2 bp −$82	38.5 bp −$3,855	doesn't fit
Sell MEXC live order book, 5 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	4.9 bp −$493	24.9 bp −$12.4K

XAU on 39 exchanges

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	−3.2000%	1h	4,329.5	+0.037%	$35K	$3K	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,336.2	+0.191%	$92K	$5.7M	20x	as long as short
Coinbase International GOLD-PERP-INTXlong	0.0000%	1h	4,327.9	long leg	$2.1M	$5.0M	25x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,328	+0.001%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.520%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,332.8	+0.113%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,331.1	+0.074%	$6.7M	$3.2M	20x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,334.1	+0.144%	$71.8M	$276.5M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.3	+0.864%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,330	+0.049%	$292.7M	$51.6M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,327.8	−0.003%	$15.2M	$59.7M	25x	as long as short
Bluefin GOLD-PERP	+0.0054%	1h	4,325.8	−0.049%	$25K	$1K	20x	as long as short
Paradex XAU-USD-PERP	+0.0056%	8h	4,331.5	+0.083%	$2K	$13K	5x	as long as short
Variational Omni XAU	+0.0069%	4h	4,329.8	+0.043%	$47.2M	$28.4M	—	as long as short
Gate XAU_USDT	+0.0078%	4h	4,333.9	+0.139%	$300.0M	$451.7M	100x	as long as short
Lighter XAU	+0.0080%	1h	4,331.6	+0.085%	$20.1M	$30.6M	25x	as long as short
Binance XAUUSDT	+0.0084%	4h	4,332.2	+0.100%	$442.1M	$2.42B	100x	as long as short
MEXC XAU_USDTshort	+0.0084%	4h	4,332.3	+0.101%	$368.2M	$358.0M	1000x
edgeX XAUUSDC	+0.0089%	4h	4,327.6	−0.007%	$30.2M	$66.5M	50x	as long as short
GRVT XAU_USDT_Perp	+0.0092%	4h	4,332.4	+0.103%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,328.6	+0.016%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,330.4	+0.058%	$287K	$227K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,331.2	+0.076%	$160K	$87	10x	as long as short
Lighter RH XAU	+0.0120%	1h	4,334.2	+0.144%	$19.6M	$40.4M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,329.7	+0.042%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0144%	24h	4,332.7	+0.111%	$3.5M	$51.5M	15x	as long as short
Bybit XAUUSDT	+0.0154%	4h	4,333.6	+0.131%	$83.0M	$167.1M	150x	as long as short
Polymarket Perps GOLD-USD	+0.0158%	1h	4,331.8	+0.090%	$4.3M	$1.7M	20x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0166%	1h	4,330.1	+0.051%	$135K	$662K	25x	as long as short
Phemex XAUUSDT	+0.0177%	4h	4,334.5	+0.151%	$2.3M	$777K	100x	as long as short
Bullet GOLD-USD	+0.0178%	1h	4,331.8	+0.090%	$59K	$77K	10x	as long as short
Extended XAU-USD	+0.0192%	1h	4,328	+0.002%	$12.5M	$34.3M	25x	as long as short
Bitget XAUUSDT	+0.0200%	4h	4,332.6	+0.110%	$72.6M	$139.8M	100x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,332.4	+0.105%	$4.7M	$13.3M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0230%	8h	4,333.2	+0.122%	$171.2M	$361.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0254%	1h	4,328.9	+0.022%	$583K	$166K	25x	as long as short
BloFin XAU-USDT	+0.0325%	4h	4,332.8	+0.113%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,332.1	+0.096%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1037%	4h	4,338.4	+0.241%	$3.2M	$7.1M	75x	as long as short