Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0120%/8h= −13.1% APRpaid last 24h +0.223%

Price spread now: Bluefin against MEXC−0.161%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bluefin is 0.161% cheaper against MEXC than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,332.7	0.0118	pay 0.0059% / 4h	2h 26m	$363.7M	$324.2M	1000x
Short	Bluefin GOLD-PERP	4,325.7	−0.0002	pay 0.0000% / 1h	26m 03s	$25K	$14K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$25.21
Price spread: −0.161% → 0.000%: −$16.13
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$52.35
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; Bluefin: no order-book sample. 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 MEXC live order book, 3 min ago	0.02 bp	2.0 bp −$2	2.0 bp −$20	2.2 bp −$217	22.4 bp −$11.2K
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
Hotstuff GOLD-PERP	−0.0056%	1h	4,328.7	−0.092%	$32K	—	25x	as long as short
Bluefin GOLD-PERPshort	−0.0002%	1h	4,325.7	−0.161%	$25K	$14K	20x
SunX XAU-USDT	0.0000%	4h	4,336.7	+0.091%	$92K	$8.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,328.7	−0.092%	$271K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,329.1	−0.084%	$13.2M	$37.1M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.409%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,329.8	−0.067%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,331.2	−0.035%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.5	+0.757%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,331.6	−0.025%	$20.7M	$31.0M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,329.5	−0.074%	$292.5M	$50.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.7	−0.069%	$15.0M	$56.7M	25x	as long as short
Bybit XAUUSDT	+0.0051%	4h	4,333.8	+0.026%	$78.7M	$155.0M	150x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,333.2	+0.012%	$3.7M	$12.2M	25x	as long as short
Kalshi KXGOLDPERP	+0.0058%	24h	4,332.8	+0.002%	$4.0M	$40.9M	15x	as long as short
Gate XAU_USDT	+0.0066%	4h	4,334.8	+0.049%	$273.1M	$407.0M	100x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,332.5	−0.004%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,329.8	−0.067%	$2.1M	$4.7M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,333.9	+0.028%	$19.9M	$38.7M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,328.5	−0.098%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,328.1	−0.106%	$275K	$204K	50x	as long as short
Aster XAUUSD1	+0.0109%	4h	4,334	+0.031%	$71.6M	$332.2M	20x	as long as short
Variational Omni XAU	+0.0111%	4h	4,332	−0.017%	$48.3M	$27.4M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,332.2	−0.012%	$160K	$87	10x	as long as short
MEXC XAU_USDTlong	+0.0118%	4h	4,332.7	long leg	$363.7M	$324.2M	1000x
Binance XAUUSDT	+0.0120%	4h	4,332.7	0.000%	$414.2M	$2.15B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0122%	4h	4,329.6	−0.072%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,327.2	−0.127%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0130%	4h	4,331.5	−0.027%	$30.1M	$59.0M	50x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,333	+0.008%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0171%	1h	4,333	+0.007%	$4.2M	$2.0M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,329.8	−0.066%	$590K	$130K	25x	as long as short
HTX XAU-USDT	+0.0257%	4h	4,336.4	+0.085%	$2.8M	$4.8M	75x	as long as short
Bitget XAUUSDT	+0.0278%	4h	4,333.1	+0.009%	$73.6M	$113.8M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0281%	1h	4,331.8	−0.021%	$199K	$825K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0338%	8h	4,333.2	+0.012%	$170.2M	$292.2M	100x	as long as short
BloFin XAU-USDT	+0.0362%	4h	4,330.9	−0.041%	$16.1M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0399%	4h	4,336.8	+0.095%	$2.2M	$960K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0451% / S −0.0288%	1h	4,332.9	+0.005%	$250K	—	111x	as long as short