Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0208%/8h= −22.7% APRpaid last 24h −0.018%

Price spread now: MEXC against Deribit0.000%7-day average +0.112% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$160.162% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.677%−$68 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now 0.000%, 7d avg +0.112%

Together, before fees−0.586%−$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and MEXC is 0.112% cheaper against Deribit than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.112%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit GOLD_USDC-PERPETUAL	4,372.1	0.0208	pay 0.0026% / 1h	18m 08s	$236K	$736K	25x
Short	MEXC XAU_USDT	4,372.1	0	get 0.0000% / 4h	18m 08s	$375.6M	$324.0M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Deribit. 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 DeribitbpFee MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$43.61
Price spread: 0.000% → +0.112%: −$11.18
Slippage, 4 orders: −$5.24
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$71.03
Costs to cover: 0.162%
Break-even: never at this rate

Slippage from Deribit: live order book, 61 min ago; MEXC: live order book, 1 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 Deribit live order book, 61 min ago	0.12 bp	8.6 bp −$9	9.9 bp −$99	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.03 bp	2.0 bp −$2	2.2 bp −$22	7.9 bp −$791	23.3 bp −$11.7K

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	−0.0223%	1h	4,366	−0.139%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.7	−0.192%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,372.9	+0.017%	$71.7M	$225.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,371.8	−0.007%	$410.6M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,372.2	+0.001%	$82.6M	$142.5M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,373.8	+0.040%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,372.5	+0.009%	$267.6M	$416.6M	100x	as long as short
MEXC XAU_USDTshort	0.0000%	4h	4,372.1	0.000%	$375.6M	$324.0M	1000x
Bitget XAUUSDT	0.0000%	4h	4,372.1	−0.001%	$69.6M	$113.4M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.6	−0.127%	$48.5M	$30.2M	—	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT XAU_USDT_Perp	0.0000%	4h	4,364.9	−0.165%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,370.5	−0.037%	$4.0M	$36.2M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,378	+0.136%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,370.1	−0.045%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,359.1	−0.298%	$30.3M	$58.8M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,372	−0.002%	$5.5M	$1.9M	20x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.496%	$619	$54	52x	as long as short
Lighter XAU	+0.0040%	1h	4,372.5	+0.008%	$20.8M	$44.9M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,369.2	−0.066%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,407.3	+0.805%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,373.9	+0.041%	$20.2M	$42.2M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,367.9	−0.096%	$294.1M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,370.3	−0.042%	$14.6M	$57.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,373.1	+0.024%	$19K	$5K	5x	as long as short
Extended XAU-USD	+0.0056%	1h	4,368.2	−0.090%	$13.1M	$45.5M	25x	as long as short
Hotstuff GOLD-PERP	+0.0056%	1h	4,369.6	−0.057%	$33K	—	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,373.1	+0.022%	$162K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,369.9	−0.050%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,362.3	−0.225%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0102%	1h	4,373.2	+0.025%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0106%	1h	4,373.6	+0.034%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,370.1	−0.046%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0162%	8h	4,372.8	+0.016%	$158.6M	$275.4M	100x	as long as short
HTX XAU-USDT	+0.0174%	4h	4,378.5	+0.146%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUALlong	+0.0208%	1h	4,372.1	long leg	$236K	$736K	25x
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,371.2	−0.022%	$603K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,369.5	−0.060%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0308%	4h	4,372.3	+0.005%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,373.6	+0.035%	$252K	—	111x	as long as short