Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0197%/8h= +21.5% APRpaid last 24h +0.008%

Price spread now: GMX against MEXC0.000%7-day average +0.011% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.093%+$9 on $10k

Price spread, last 3 days (all we have)+0.028%+$3 · spread now 0.000%, 7d avg +0.011%

Together, before fees+0.122%+$12 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,377.3	0	get 0.0000% / 4h	3h 49m	$374.1M	$321.2M	1000x
Short	GMX GOLD/USD [ETH-USDC]	4,377.3	L +0.0390% / S −0.0197%	get 0.0025% / 1h	49m 01s	$253K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now 0.000%Rate

Funding earned: $41.28
Price spread: 0.000% → +0.011%: −$1.14
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: $24.14
Costs to cover: 0.160%
Break-even: 2.9 days

Slippage unknown: MEXC: live order book, 10 min ago; GMX: 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, 10 min ago	0.03 bp	2.0 bp −$2	2.1 bp −$21	2.3 bp −$227	22.5 bp −$11.3K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Bluefin GOLD-PERP	−0.0098%	1h	4,370.2	−0.163%	$26K	$22K	20x	as long as short
Hotstuff GOLD-PERP	−0.0056%	1h	4,375	−0.053%	$33K	—	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,376.9	−0.010%	$71.3M	$210.1M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,376.2	−0.025%	$410.2M	$2.15B	100x	as long as short
MEXC XAU_USDTlong	0.0000%	4h	4,377.3	long leg	$374.1M	$321.2M	1000x
Bitget XAUUSDT	0.0000%	4h	4,377.2	−0.004%	$69.8M	$114.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,374.3	−0.068%	$48.7M	$27.9M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,375.1	−0.050%	$4.0M	$36.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,381.5	+0.095%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,373.3	−0.091%	$268K	—	250x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX XAUUSDC	+0.0007%	4h	4,369.8	−0.171%	$30.4M	$60.0M	50x	as long as short
Gate XAU_USDT	+0.0010%	4h	4,377	−0.008%	$266.4M	$409.0M	100x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.614%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.1	−0.028%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,376.7	−0.014%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,411.9	+0.790%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,378.3	+0.024%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.8	−0.103%	$294.7M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,373.8	−0.081%	$14.7M	$57.3M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,375.3	−0.046%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,378.1	+0.018%	$19K	$5K	5x	as long as short
Lighter XAU	+0.0072%	1h	4,376.1	−0.027%	$20.8M	$43.3M	25x	as long as short
Lighter RH XAU	+0.0080%	1h	4,378.5	+0.028%	$20.3M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,376.1	−0.028%	$162K	$87	10x	as long as short
Polymarket Perps GOLD-USD	+0.0095%	1h	4,376.8	−0.012%	$4.3M	$1.8M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,374.9	−0.055%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,374.3	−0.069%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,373.2	−0.093%	$277K	$204K	50x	as long as short
Extended XAU-USD	+0.0112%	1h	4,373.4	−0.090%	$13.3M	$44.0M	25x	as long as short
Bybit XAUUSDT	+0.0152%	4h	4,376.9	−0.010%	$83.5M	$144.6M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0169%	8h	4,378.8	+0.034%	$160.8M	$281.4M	100x	as long as short
Bullet GOLD-USD	+0.0180%	1h	4,377.3	0.000%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0207%	1h	4,375.5	−0.041%	$236K	$655K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0224%	1h	4,375	−0.052%	$597K	$146K	25x	as long as short
GRVT XAU_USDT_Perp	+0.0234%	4h	4,375.8	−0.034%	$1.4M	$3.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,378.3	+0.024%	$14.8M	$4.6M	100x	as long as short
Phemex XAUUSDT	+0.0267%	4h	4,377.9	+0.013%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]short	L +0.0390% / S −0.0197%	1h	4,377.3	0.000%	$253K	—	111x
HTX XAU-USDT	+0.0502%	4h	4,383.1	+0.133%	$2.9M	$3.8M	75x	as long as short