Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.035%

Price spread now: GRVT against MEXC−0.068%52s7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$130.133% of the position

Long on MEXC Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days+0.085%+$8 · spread now −0.068%, 7d avg +0.008%

Together, before fees+0.062%+ Points / potential airdropGRVT: Active · farm board+$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: GRVT is 0.076% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.008%. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,365.8	0	get 0.0000% / 4h	1h 04m	$377.1M	$354.6M	1000x
Short	GRVT XAU_USDT_Perp	4,362.8	0	get 0.0000% / 4h	1h 04m	$1.4M	$3.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.068%Rate

Funding earned: $0
Price spread: −0.068% → +0.008%: −$7.61
Slippage, 4 orders: −$0.25
Fee MEXC: 2 bp × 2 orders: −$4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$20.87
Costs to cover: 0.133%
Break-even: never at this rate

Slippage from MEXC: live order book, 10 min ago; GRVT: live order book, 4 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, 10 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	8.0 bp −$796	26.5 bp −$13.3K
Sell GRVT live order book, 4 min ago	0.01 bp	4.5 bp −$5	4.5 bp −$45	5.9 bp −$590	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	−0.0174%	1h	4,362.6	−0.073%	$602K	$139K	25x	as long as short
Aster XAUUSD1	0.0000%	4h	4,366.5	+0.018%	$71.5M	$233.3M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,365.6	−0.003%	$409.8M	$2.09B	100x	as long as short
Bybit XAUUSDT	0.0000%	4h	4,366.9	+0.025%	$82.9M	$141.8M	150x	as long as short
RISEx XAU/USDC	0.0000%	1h	4,365.5	−0.005%	$3.4M	$12.4M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,367	+0.029%	$269.2M	$412.2M	100x	as long as short
MEXC XAU_USDTlong	0.0000%	4h	4,365.8	long leg	$377.1M	$354.6M	1000x
Bitget XAUUSDT	0.0000%	4h	4,366	+0.006%	$67.4M	$110.1M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,364.1	−0.037%	$48.5M	$31.2M	—	as long as short
GRVT XAU_USDT_Perpshort	0.0000%	4h	4,362.8	−0.068%	$1.4M	$3.1M	25x

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	0.0000%	24h	4,363.3	−0.056%	$4.0M	$34.6M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,369.2	+0.079%	$93K	$10.6M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,362.2	−0.082%	$268K	—	250x	as long as short
QFEX GOLD-USD	+0.0002%	1h	4,365.2	−0.013%	$5.6M	$1.7M	20x	as long as short
edgeX XAUUSDC	+0.0011%	4h	4,358.9	−0.156%	$30.3M	$58.0M	50x	as long as short
tradeXYZ xyz:GOLD	+0.0017%	1h	4,361.1	−0.107%	$293.5M	$52.7M	25x	as long as short
Lighter XAU	+0.0032%	1h	4,365.3	−0.011%	$20.9M	$44.8M	25x	as long as short
Lighter RH XAU	+0.0032%	1h	4,367.5	+0.041%	$20.3M	$42.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,362.7	−0.069%	$13.1M	$46.2M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.351%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,363.6	−0.049%	$3.8M	$4.7M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,400.3	+0.791%	—	$1.0M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,364.2	−0.036%	$4.3M	$1.7M	20x	as long as short
Paradex XAU-USD-PERP	+0.0050%	8h	4,365.6	−0.003%	$19K	$6K	5x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,362.2	−0.080%	$14.4M	$55.6M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,364.2	−0.036%	$162K	$87	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0094%	1h	4,364.1	−0.038%	$235K	$734K	25x	as long as short
Bullet GOLD-USD	+0.0098%	1h	4,365.1	−0.015%	$60K	$85K	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,362.7	−0.069%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,361.6	−0.094%	$274K	$199K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,357.4	−0.191%	$26K	$21K	20x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,361.1	−0.107%	$33K	—	25x	as long as short
Phoenix GOLD	+0.0109%	1h	4,361.7	−0.093%	$48K	$65K	25x	as long as short
HTX XAU-USDT	+0.0109%	4h	4,368.1	+0.055%	$2.8M	$3.8M	75x	as long as short
OKX XAU-USDT-SWAP	+0.0158%	8h	4,367.1	+0.031%	$158.3M	$270.1M	100x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0208%	1h	4,360.9	−0.111%	$2.0M	$5.1M	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,365	−0.016%	$14.8M	$4.3M	100x	as long as short
Phemex XAUUSDT	+0.0275%	4h	4,365.1	−0.015%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0389% / S −0.0197%	1h	4,365	−0.016%	$252K	—	111x	as long as short