Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.008%

Price spread now: Coinbase International against MEXC−0.097%7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs+$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.371%+$37 on $10k

Price spread, last 4 days (all we have)+0.038%+$4 · spread now −0.097%, 7d avg −0.095%

Together, before fees+0.409%+$41 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.095%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.371%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,337.7	0.0098	pay 0.0049% / 4h	1h 49m	$367.1M	$352.0M	1000x
Short	Coinbase International GOLD-PERP-INTX	4,333.5	0	get 0.0000% / 1h	49m 09s	$2.1M	$5.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.097%Rate

Funding earned: −$20.58
Price spread: −0.097% → −0.095%: −$0.15
Slippage, 4 orders: −$1.44
Fee MEXC: 2 bp × 2 orders: −$4
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$36.18
Costs to cover: 0.154%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Coinbase International: live order book, 3 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, 3 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	3.5 bp −$349	21.6 bp −$10.8K
Sell Coinbase International live order book, 3 min ago	0.12 bp	5.1 bp −$5	7.8 bp −$78	doesn't fit	doesn't fit

XAU on 39 exchanges

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	−3.0304%	1h	4,318.3	−0.447%	$32K	—	25x	as long as short
Bluefin GOLD-PERP	−0.0061%	1h	4,331.9	−0.133%	$25K	$1K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,341.9	+0.097%	$92K	$6.0M	20x	as long as short
Coinbase International GOLD-PERP-INTXshort	0.0000%	1h	4,333.5	−0.097%	$2.1M	$5.3M	25x
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,334.1	−0.084%	$274K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.293%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,340.8	+0.072%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,336.1	−0.037%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,371.4	+0.777%	—	$1.0M	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0050%	1h	4,336.2	−0.034%	$135K	$707K	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,334.5	−0.074%	$292.6M	$51.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,332.9	−0.111%	$15.1M	$59.4M	25x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,336.6	−0.026%	$2K	$13K	5x	as long as short
Polymarket Perps GOLD-USD	+0.0059%	1h	4,336.8	−0.021%	$4.3M	$1.7M	20x	as long as short
Aster XAUUSD1	+0.0062%	4h	4,339	+0.031%	$72.6M	$276.0M	20x	as long as short
Variational Omni XAU	+0.0079%	4h	4,338.5	+0.019%	$47.3M	$29.2M	—	as long as short
Lighter XAU	+0.0080%	1h	4,337.2	−0.011%	$20.2M	$30.3M	25x	as long as short
Gate XAU_USDT	+0.0086%	4h	4,339	+0.029%	$299.1M	$443.3M	100x	as long as short
Lighter RH XAU	+0.0088%	1h	4,339.4	+0.039%	$19.7M	$39.9M	25x	as long as short
MEXC XAU_USDTlong	+0.0098%	4h	4,337.7	long leg	$367.1M	$352.0M	1000x
Binance XAUUSDT	+0.0099%	4h	4,337.6	−0.001%	$443.8M	$2.43B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,333.4	−0.099%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,336.2	−0.035%	$285K	$223K	50x	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,338.3	+0.014%	$1.4M	$3.1M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,336.8	−0.021%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0118%	4h	4,335.5	−0.051%	$30.3M	$67.5M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,334	−0.085%	$12.5M	$34.7M	25x	as long as short
Bybit XAUUSDT	+0.0123%	4h	4,339	+0.029%	$82.5M	$172.8M	150x	as long as short
Phoenix GOLD	+0.0127%	1h	4,335.4	−0.053%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0136%	24h	4,338.9	+0.028%	$3.5M	$51.0M	15x	as long as short
Bullet GOLD-USD	+0.0170%	1h	4,338	+0.008%	$59K	$76K	10x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,337.6	−0.003%	$4.7M	$13.2M	25x	as long as short
Phemex XAUUSDT	+0.0213%	4h	4,340.3	+0.061%	$2.3M	$784K	100x	as long as short
Bitget XAUUSDT	+0.0214%	4h	4,337.5	−0.004%	$72.9M	$139.8M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0238%	8h	4,339.1	+0.033%	$170.7M	$361.9M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,334.7	−0.069%	$584K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0339%	4h	4,337.8	+0.003%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0461% / S −0.0308%	1h	4,340.3	+0.061%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.1089%	4h	4,344.4	+0.155%	$3.2M	$7.1M	75x	as long as short