Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.030%

Price spread now: Injective against MEXC+0.005%55s7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 55 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	4,350.2	0.0088	pay 0.0044% / 4h	16m 13s	$372.0M	$318.8M	1000x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	16m 13s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.005%Rate

Funding earned: −$11.48
Price spread: +0.005% → 0.000%: $0.53
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$14.97
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 3 min ago; Injective: 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, 3 min ago	0.25 bp	2.3 bp −$2	2.3 bp −$23	4.4 bp −$442	25.4 bp −$12.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
RISEx XAU/USDC	0.0000%	1h	4,349.9	−0.006%	$3.4M	$12.2M	25x	as long as short
Gate XAU_USDT	0.0000%	4h	4,351.4	+0.027%	$265.2M	$416.2M	100x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.4	+0.097%	$93K	$8.9M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.3	−0.091%	$272K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0016%	1h	4,347.3	−0.066%	$33K	—	25x	as long as short
Lighter XAU	+0.0032%	1h	4,347.5	−0.063%	$20.8M	$38.2M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.2	−0.091%	$13.2M	$38.3M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	+0.005%	$619	$54	52x
Lighter RH XAU	+0.0040%	1h	4,349.6	−0.013%	$20.1M	$39.3M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,349.9	−0.007%	$3.8M	$4.5M	40x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX GOLD-USD	+0.0041%	1h	4,349.5	−0.016%	$5.7M	$2.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.2	+0.759%	—	$1.0M	25x	as long as short
Kalshi KXGOLDPERP	+0.0048%	24h	4,347.8	−0.055%	$4.2M	$37.3M	15x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,346.2	−0.092%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,347.6	−0.060%	$293.9M	$48.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,346.3	−0.090%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0060%	4h	4,351.3	+0.026%	$71.3M	$333.1M	20x	as long as short
Variational Omni XAU	+0.0077%	4h	4,349.2	−0.022%	$48.5M	$28.0M	—	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,350	−0.004%	$19K	$5K	5x	as long as short
MEXC XAU_USDTlong	+0.0088%	4h	4,350.2	long leg	$372.0M	$318.8M	1000x
GRVT XAU_USDT_Perp	+0.0088%	4h	4,351.1	+0.021%	$1.4M	$2.9M	25x	as long as short
Binance XAUUSDT	+0.0089%	4h	4,350.2	0.000%	$413.7M	$2.09B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.4	−0.087%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,348.9	−0.030%	$275K	$203K	50x	as long as short
Bluefin GOLD-PERP	+0.0100%	1h	4,344.3	−0.135%	$25K	$14K	20x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,349.5	−0.015%	$161K	$87	10x	as long as short
edgeX XAUUSDC	+0.0105%	4h	4,346.9	−0.075%	$30.3M	$58.2M	50x	as long as short
Phoenix GOLD	+0.0142%	1h	4,349	−0.027%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0159%	1h	4,349.9	−0.007%	$4.3M	$2.0M	20x	as long as short
Bullet GOLD-USD	+0.0186%	1h	4,350.2	0.000%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,347.1	−0.072%	$593K	$132K	25x	as long as short
Phemex XAUUSDT	+0.0218%	4h	4,351.7	+0.034%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,350.8	+0.013%	$70.1M	$109.3M	100x	as long as short
Bybit XAUUSDT	+0.0240%	4h	4,351.6	+0.032%	$85.3M	$145.1M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0295%	8h	4,351.6	+0.032%	$165.5M	$282.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0302%	1h	4,349.1	−0.025%	$206K	$824K	25x	as long as short
BloFin XAU-USDT	+0.0329%	4h	4,349.5	−0.016%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0417% / S −0.0237%	1h	4,350.2	0.000%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0623%	4h	4,352.1	+0.043%	$2.9M	$4.5M	75x	as long as short