Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0003%/8h= +0.3% APRpaid last 24h −0.049%

Price spread now: gTrade (Gains Network) against MEXC−0.079%7-day average −0.091% · 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−$270as in the Price arb table

costs, in and out, $10k−$2712.711% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)+0.064%+$6 · spread now −0.079%, 7d avg −0.091%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,355.3	0	get 0.0000% / 4h	1h 23m	$376.8M	$351.8M	1000x
Short	gTrade (Gains Network) XAU/USD	4,351.8	L +0.0002% / S −0.0003%	get 0.0000% / 1h	23m 47s	$267K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.079%Rate

Funding earned: $0.65
Price spread: −0.079% → −0.091%: $1.19
Slippage, 4 orders: −$260.09
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$269.26
Costs to cover: 2.711%
Break-even: 2917.2 days

Slippage from MEXC: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 25 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	3.8 bp −$377	21.2 bp −$10.6K
Sell gTrade (Gains Network) virtual book (oracle venue), 25 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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	4,352.9	−0.055%	$600K	$141K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,356.2	+0.023%	$71.4M	$234.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,355.3	0.000%	$409.6M	$2.08B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,355.8	+0.013%	$82.6M	$141.2M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,355.2	−0.001%	$3.5M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,356.8	+0.036%	$271.8M	$409.5M	100x	as long as short
MEXC XAU_USDTlong	0.0000%	4h	4,355.3	long leg	$376.8M	$351.8M	1000x
Bitget XAUUSDT	0.0000%	4h	4,355.6	+0.008%	$67.0M	$110.0M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,354.6	−0.016%	$48.0M	$31.5M	—	as long as short
GRVT XAU_USDT_Perp	0.0000%	4h	4,355.7	+0.010%	$1.4M	$3.2M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,352.5	−0.063%	$4.0M	$34.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,359.4	+0.096%	$93K	$10.7M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,351.8	−0.079%	$267K	—	250x
QFEX GOLD-USD	+0.0002%	1h	4,354.8	−0.011%	$5.6M	$1.7M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0011%	1h	4,350.9	−0.100%	$292.8M	$52.9M	25x	as long as short
edgeX XAUUSDC	+0.0016%	4h	4,350.8	−0.104%	$30.3M	$58.3M	50x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,350.8	−0.102%	$33K	—	25x	as long as short
Lighter XAU	+0.0032%	1h	4,354.5	−0.017%	$21.0M	$44.3M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,356.6	+0.030%	$20.2M	$42.0M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,352	−0.076%	$13.0M	$49.4M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.111%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,355.4	+0.003%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,389.2	+0.779%	—	$1.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,355	−0.006%	$4.3M	$1.7M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,351.2	−0.093%	$14.4M	$55.7M	25x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,354.9	−0.009%	$19K	$6K	5x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0072%	1h	4,353.6	−0.038%	$221K	$760K	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,354.4	−0.019%	$161K	$87	10x	as long as short
HTX XAU-USDT	+0.0092%	4h	4,358.7	+0.080%	$2.8M	$3.8M	75x	as long as short
Bullet GOLD-USD	+0.0099%	1h	4,355.3	0.000%	$60K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,352.2	−0.070%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,353.3	−0.045%	$273K	$204K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,348.5	−0.154%	$26K	$21K	20x	as long as short
Phoenix GOLD	+0.0109%	1h	4,351.8	−0.079%	$48K	$65K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0156%	8h	4,356.4	+0.026%	$158.9M	$267.2M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,352.9	−0.054%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,355.4	+0.002%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0316%	4h	4,358.3	+0.070%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0388% / S −0.0197%	1h	4,355.2	−0.002%	$251K	—	111x	as long as short