Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0026%/8h= +2.8% APRpaid last 24h −0.013%

Price spread now: ApeX Omni against MEXC−0.099%111s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.400% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.025%+$2 on $10k

Price spread, last 4 days (all we have)+0.028%+$3 · spread now −0.099%, 7d avg −0.039%

Together, before fees+0.053%+$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.061% cheaper against MEXC than usual: you would sell low and buy high (spread −0.099% now, against its 7-day average of −0.039%). If the spread goes back, that is −$6 on $10k: about 7.8 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.025% in total) that is about 17 days. The two prices were read 111 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,355.3	0.0074	pay 0.0037% / 4h	1h 27m	$373.1M	$318.5M	1000x
Short	ApeX Omni XAUUSDT	4,351	0.0100	get 0.0013% / 1h	27m 38s	$275K	$202K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni 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 ApeX OmnibpOrdersPrice spread, now −0.099%Rate

Funding earned: $5.46
Price spread: −0.099% → −0.039%: −$6.09
Slippage, 4 orders: −$25.97
Fee MEXC: 2 bp × 2 orders: −$4
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$40.6
Costs to cover: 0.400%
Break-even: 59.1 days

Slippage from MEXC: live order book, 2 min ago; ApeX Omni: live order book, 35 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, 2 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	6.2 bp −$621	25.0 bp −$12.5K
Sell ApeX Omni live order book, 35 min ago	4.79 bp	19.9 bp −$20	34.7 bp −$347	44.0 bp −$4,399	doesn't fit

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
SunX XAU-USDT	0.0000%	4h	4,358.7	+0.079%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,350.9	−0.100%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,356.7	+0.032%	$264.9M	$411.8M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,354.9	−0.010%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	−0.081%	$13.6M	$39.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.112%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,352.2	−0.071%	$4.1M	$36.9M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,354.2	−0.025%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,355.9	+0.013%	$70.5M	$333.7M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,387.7	+0.744%	—	$1.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0046%	1h	4,353	−0.053%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,351.1	−0.096%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,351.6	−0.085%	$294.0M	$48.7M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0050%	4h	4,354.7	−0.013%	$1.4M	$3.0M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352	−0.076%	$15.1M	$57.3M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,354.5	−0.020%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,353	−0.054%	$48.3M	$27.8M	—	as long as short
Lighter RH XAU	+0.0072%	1h	4,356.6	+0.031%	$20.1M	$39.7M	25x	as long as short
MEXC XAU_USDTlong	+0.0074%	4h	4,355.3	long leg	$373.1M	$318.5M	1000x
Binance XAUUSDT	+0.0075%	4h	4,355.5	+0.005%	$413.0M	$2.09B	100x	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,355.8	+0.011%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0092%	4h	4,347.3	−0.184%	$30.3M	$58.9M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,353.2	−0.048%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,351.8	−0.080%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDTshort	+0.0100%	1h	4,351	−0.099%	$275K	$202K	50x
Polymarket Perps GOLD-USD	+0.0128%	1h	4,353.8	−0.034%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.3	−0.115%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0140%	4h	4,354.6	−0.017%	$2.2M	$1.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,352.5	−0.064%	$258K	$706K	25x	as long as short
Bybit XAUUSDT	+0.0197%	4h	4,357.2	+0.042%	$84.5M	$145.3M	150x	as long as short
Hotstuff GOLD-PERP	+0.0200%	1h	4,351.2	−0.094%	$33K	—	25x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,356.1	+0.019%	$70.2M	$109.4M	100x	as long as short
Bullet GOLD-USD	+0.0214%	1h	4,354.7	−0.014%	$59K	$83K	10x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,356.1	+0.018%	$165.0M	$282.0M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.3	−0.093%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,353.9	−0.031%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0400% / S −0.0212%	1h	4,354.7	−0.014%	$249K	—	111x	as long as short
HTX XAU-USDT	+0.0565%	4h	4,359	+0.085%	$2.9M	$4.2M	75x	as long as short
Bluefin GOLD-PERP	+0.0707%	1h	4,347.3	−0.184%	$25K	$14K	20x	as long as short