Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0118%/8h= +12.9% APRpaid last 24h +0.019%

Price spread now: Deribit against MEXC−0.029%7-day average −0.113% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$150.149% of the position

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.676%+$68 on $10k

Price spread, last 3 days (all we have)−0.055%−$6 · spread now −0.029%, 7d avg −0.113%

Together, before fees+0.621%+$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Deribit is 0.084% dearer against MEXC than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.113%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,352.7	0	get 0.0000% / 4h	1h 49m	$375.7M	$349.0M	1000x
Short	Deribit GOLD_USDC-PERPETUAL	4,351.4	0.0118	get 0.0015% / 1h	49m 04s	$221K	$853K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.029%Rate

Funding earned: $24.74
Price spread: −0.029% → −0.113%: $8.43
Slippage, 4 orders: −$3.94
Fee MEXC: 2 bp × 2 orders: −$4
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $18.23
Costs to cover: 0.149%
Break-even: 1.8 days

Slippage from MEXC: live order book, 5 min ago; Deribit: 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, 5 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	2.3 bp −$226	20.9 bp −$10.5K
Sell Deribit live order book, 35 min ago	0.12 bp	3.6 bp −$4	4.3 bp −$43	doesn't fit	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
Kraken Futures PF_XAUUSD	−0.0175%	1h	4,350.2	−0.056%	$600K	$160K	25x	as long as short
tradeXYZ xyz:GOLD	−0.0074%	1h	4,348.2	−0.102%	$292.8M	$53.5M	25x	as long as short
Bluefin GOLD-PERP	−0.0047%	1h	4,346.6	−0.139%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	−0.0008%	1h	4,347.8	−0.111%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,352.8	+0.002%	$71.3M	$238.7M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,352.9	+0.005%	$410.0M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,353.1	+0.010%	$82.5M	$141.7M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,352.8	+0.002%	$3.4M	$12.6M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,353.7	+0.023%	$271.3M	$406.7M	100x	as long as short
MEXC XAU_USDTlong	0.0000%	4h	4,352.7	long leg	$375.7M	$349.0M	1000x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAUUSDT	0.0000%	4h	4,352.5	−0.004%	$67.3M	$110.7M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,351.3	−0.030%	$47.9M	$32.5M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,352.5	−0.004%	$1.4M	$3.2M	25x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,350.8	−0.043%	$3.9M	$33.9M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,356.7	+0.093%	$93K	$10.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,349.4	−0.075%	$267K	—	10x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,352	−0.015%	$5.5M	$1.9M	20x	as long as short
edgeX XAUUSDC	+0.0014%	4h	4,346.6	−0.140%	$30.3M	$58.2M	50x	as long as short
HTX XAU-USDT	+0.0027%	4h	4,356.9	+0.098%	$2.8M	$3.8M	75x	as long as short
Lighter XAU	+0.0032%	1h	4,350.8	−0.043%	$20.8M	$43.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,352.5	−0.003%	$20.2M	$41.1M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,349.3	−0.076%	$13.0M	$49.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.051%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,350.9	−0.040%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,386.8	+0.785%	—	$995K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,351.4	−0.029%	$4.3M	$1.7M	20x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,352.7	0.000%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,348.9	−0.087%	$14.5M	$55.3M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,352.1	−0.013%	$161K	$87	10x	as long as short
Bullet GOLD-USD	+0.0081%	1h	4,352.7	+0.001%	$59K	$84K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,349.4	−0.075%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347.4	−0.121%	$273K	$204K	50x	as long as short
Phoenix GOLD	+0.0109%	1h	4,348.1	−0.105%	$47K	$65K	25x	as long as short
Deribit GOLD_USDC-PERPETUALshort	+0.0118%	1h	4,351.4	−0.029%	$221K	$853K	25x
OKX XAU-USDT-SWAP	+0.0164%	8h	4,353.1	+0.010%	$158.5M	$268.8M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,350.3	−0.054%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,352.7	+0.001%	$14.7M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0325%	4h	4,354.1	+0.034%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0450% / S −0.0246%	1h	4,352.7	+0.001%	$251K	—	29x	as long as short