Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h +0.037%

Price spread now: MEXC against Injective+0.528%7-day average — · you sell dearer than you buy

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

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. MEXC is 0.528% dearer against Injective than usual: you sell high and buy low (spread +0.528% now, against zero (this spread has no 7-day history yet)): +$53 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 53 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAU/USDC PERP	4,350.4	0.0033	pay 0.0004% / 1h	18m 55s	$619	$54	52x
Short	MEXC XAU_USDT	4,373.4	0	get 0.0000% / 4h	18m 55s	$375.6M	$323.8M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Injective. 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 InjectivebpFee MEXCbpOrdersPrice spread, now +0.528%Rate

Funding earned: −$7
Price spread: +0.528% → 0.000%: $52.75
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 2 bp × 2 orders: −$4
Net: $41.73
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; MEXC: live order book, 5 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 Injective no order-book sample	—	—	—	—	—
Sell MEXC live order book, 5 min ago	0.03 bp	2.0 bp −$2	2.1 bp −$21	7.7 bp −$770	25.7 bp −$12.9K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0218%	1h	4,364.4	+0.320%	$26K	$22K	20x	as long as short
Phoenix GOLD	−0.0004%	1h	4,363.7	+0.305%	$48K	$65K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,372.8	+0.514%	$71.7M	$225.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,373.5	+0.531%	$410.8M	$2.14B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,374	+0.542%	$82.7M	$142.4M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,369.2	+0.431%	$3.4M	$12.3M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,372.6	+0.510%	$268.1M	$415.9M	100x	as long as short
MEXC XAU_USDTshort	0.0000%	4h	4,373.4	+0.528%	$375.6M	$323.8M	1000x
Bitget XAUUSDT	0.0000%	4h	4,373.7	+0.536%	$69.7M	$113.7M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,366.6	+0.371%	$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	+0.333%	$1.4M	$3.1M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,367.8	+0.400%	$4.1M	$36.1M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,375.6	+0.580%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,367.5	+0.393%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0008%	4h	4,359.1	+0.199%	$30.3M	$58.8M	50x	as long as short
QFEX GOLD-USD	+0.0032%	1h	4,367.7	+0.397%	$5.4M	$1.9M	20x	as long as short
Injective XAU/USDC PERPlong	+0.0033%	1h	4,350.4	long leg	$619	$54	52x
Lighter XAU	+0.0040%	1h	4,370.8	+0.468%	$20.7M	$44.8M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,367.1	+0.383%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,404.4	+1.241%	—	$1.0M	25x	as long as short
Lighter RH XAU	+0.0048%	1h	4,373.3	+0.525%	$20.3M	$42.2M	25x	as long as short
Extended XAU-USD	+0.0048%	1h	4,369.4	+0.435%	$13.1M	$45.4M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,368.3	+0.411%	$294.1M	$52.3M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,365.3	+0.341%	$14.6M	$56.9M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,368.7	+0.421%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,370.7	+0.466%	$162K	$87	10x	as long as short
Hotstuff GOLD-PERP	+0.0088%	1h	4,364.8	+0.331%	$33K	—	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,365.7	+0.351%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,362.3	+0.273%	$277K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0101%	1h	4,371.2	+0.478%	$4.3M	$1.8M	20x	as long as short
Bullet GOLD-USD	+0.0106%	1h	4,371.5	+0.485%	$59K	$81K	10x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0152%	1h	4,367.9	+0.402%	$2.0M	$5.1M	25x	as long as short
OKX XAU-USDT-SWAP	+0.0161%	8h	4,374.1	+0.544%	$159.0M	$275.2M	100x	as long as short
HTX XAU-USDT	+0.0172%	4h	4,372	+0.496%	$2.8M	$3.7M	75x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0208%	1h	4,369.9	+0.448%	$235K	$736K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0219%	1h	4,368.6	+0.418%	$603K	$136K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,369.5	+0.438%	$14.8M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0323%	4h	4,371.6	+0.486%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,371.4	+0.483%	$252K	—	111x	as long as short