Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h +0.015%

Price spread now: MEXC against Lighter+0.009%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$50.054% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 7 days+0.010%+$1 · spread now +0.009%, 7d avg +0.049%

Together, before fees+0.018%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.040% cheaper against Lighter than usual: you would sell low and buy high (spread +0.009% now, against its 7-day average of +0.049%). If the spread goes back, that is −$4 on $10k: about 5.2 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.008% in total) that is about 34 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAU	4,322.4	0.0072	pay 0.0009% / 1h	49m 36s	$20.3M	$28.9M	25x
Short	MEXC XAU_USDT	4,322.7	0.0098	get 0.0049% / 4h	49m 36s	$364.6M	$325.3M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Lighter. 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 LighterbpFee MEXCbpOrdersPrice spread, now +0.009%Rate

Funding earned: $5.46
Price spread: +0.009% → +0.049%: −$4.02
Slippage, 4 orders: −$1.41
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$3.97
Costs to cover: 0.054%
Break-even: 12.1 days

Slippage from Lighter: live order book, 4 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 Lighter live order book, 4 min ago	0.59 bp	0.6 bp −$1	2.3 bp −$23	8.1 bp −$807	20.6 bp −$10.3K
Sell MEXC live order book, 5 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	6.6 bp −$660	18.0 bp −$9,002

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	−0.0051%	1h	4,315.1	−0.167%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,326.8	+0.103%	$92K	$7.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,318.7	−0.086%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0027%	4h	4,323.4	+0.025%	$76.9M	$153.0M	150x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.649%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,324.1	+0.040%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,321.6	−0.017%	$5.4M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.5	+0.744%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,320.4	−0.045%	$291.7M	$51.6M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,319	−0.078%	$15.0M	$55.7M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0061%	4h	4,324.4	+0.048%	$72.7M	$272.7M	20x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,320.3	−0.047%	$32K	—	25x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,323.2	+0.021%	$2K	$14K	5x	as long as short
Lighter XAUlong	+0.0072%	1h	4,322.4	long leg	$20.3M	$28.9M	25x
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,318.2	−0.096%	$2.1M	$4.8M	25x	as long as short
Kalshi KXGOLDPERP	+0.0087%	24h	4,323.7	+0.031%	$3.8M	$44.4M	15x	as long as short
Variational Omni XAU	+0.0092%	4h	4,321	−0.031%	$47.3M	$29.0M	—	as long as short
Phoenix GOLD	+0.0096%	1h	4,320.8	−0.036%	$47K	$79K	25x	as long as short
MEXC XAU_USDTshort	+0.0098%	4h	4,322.7	+0.009%	$364.6M	$325.3M	1000x
Binance XAUUSDT	+0.0100%	4h	4,322.4	+0.002%	$425.3M	$2.14B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,319.9	−0.057%	$1.4M	$1.2M	10x	as long as short
Gate XAU_USDT	+0.0100%	4h	4,325.9	+0.082%	$279.5M	$410.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0100%	4h	4,323.9	+0.036%	$1.4M	$3.0M	25x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,318.5	−0.090%	$272K	$208K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,322	−0.008%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0106%	4h	4,317.6	−0.111%	$30.0M	$59.6M	50x	as long as short
Lighter RH XAU	+0.0136%	1h	4,324	+0.038%	$20.0M	$38.7M	25x	as long as short
Extended XAU-USD	+0.0160%	1h	4,320.1	−0.052%	$13.1M	$36.8M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0190%	1h	4,322.5	+0.003%	$163K	$864K	25x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,322.3	−0.002%	$70.2M	$119.1M	100x	as long as short
Bullet GOLD-USD	+0.0207%	1h	4,322.8	+0.010%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0221%	1h	4,322.6	+0.006%	$4.3M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0228%	1h	4,320.1	−0.053%	$577K	$136K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0288%	8h	4,323.2	+0.020%	$173.4M	$300.5M	100x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,322.3	−0.001%	$16.4M	$4.6M	100x	as long as short
HTX XAU-USDT	+0.0366%	4h	4,327.4	+0.116%	$3.2M	$5.8M	75x	as long as short
Phemex XAUUSDT	+0.0385%	4h	4,325.9	+0.083%	$2.2M	$975K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0462% / S −0.0307%	1h	4,322.8	+0.010%	$252K	—	111x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,323.5	+0.027%	$4.4M	$13.3M	25x	as long as short