Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h −0.020%

Price spread now: Lighter against MEXC−0.026%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$60.057% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.006%−$1 on $10k

Price spread, last 7 days+0.002%$0 · spread now −0.026%, 7d avg −0.049%

Together, before fees−0.004%+ Points / potential airdropLighter: Season 3 · farm board$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Lighter is 0.023% dearer against MEXC than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,376	0	get 0.0000% / 4h	3h 52m	$374.5M	$320.8M	1000x
Short	Lighter XAU	4,374.9	0.0072	get 0.0009% / 1h	52m 37s	$20.8M	$43.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.026%Rate

Funding earned: $15.12
Price spread: −0.026% → −0.049%: $2.31
Slippage, 4 orders: −$1.68
Fee MEXC: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: $11.74
Costs to cover: 0.057%
Break-even: 1.6 days

Slippage from MEXC: live order book, 7 min ago; Lighter: live order book, 6 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, 7 min ago	0.03 bp	2.0 bp −$2	2.1 bp −$21	2.3 bp −$227	22.5 bp −$11.3K
Sell Lighter live order book, 6 min ago	0.39 bp	0.6 bp −$1	1.8 bp −$18	8.7 bp −$871	21.4 bp −$10.7K

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
Aster XAUUSD1	0.0000%	4h	4,376.2	+0.004%	$72.0M	$212.6M	20x	as long as short
Binance XAUUSDT	0.0000%	4h	4,375.8	−0.004%	$410.2M	$2.15B	100x	as long as short
Gate XAU_USDT	0.0000%	4h	4,376.8	+0.018%	$266.8M	$407.8M	100x	as long as short
MEXC XAU_USDTlong	0.0000%	4h	4,376	long leg	$374.5M	$320.8M	1000x
Bitget XAUUSDT	0.0000%	4h	4,376.1	+0.002%	$69.7M	$114.5M	100x	as long as short
Variational Omni XAU	0.0000%	4h	4,377.8	+0.041%	$48.7M	$28.0M	—	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,373.7	−0.052%	$4.0M	$36.5M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,381.2	+0.120%	$93K	$10.4M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,372.5	−0.080%	$268K	—	250x	as long as short
edgeX XAUUSDC	+0.0009%	4h	4,367.4	−0.196%	$30.4M	$59.6M	50x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff GOLD-PERP	+0.0024%	1h	4,371.7	−0.098%	$33K	—	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.584%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,376.1	+0.003%	$3.8M	$4.7M	40x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,375.6	−0.008%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,411.2	+0.805%	—	$1.0M	25x	as long as short
RISEx XAU/USDC	+0.0048%	1h	4,375.9	−0.001%	$3.4M	$12.3M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,372.8	−0.072%	$294.8M	$52.4M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,371.1	−0.111%	$14.7M	$57.1M	25x	as long as short
Phoenix GOLD	+0.0055%	1h	4,373.6	−0.054%	$48K	$64K	25x	as long as short
Paradex XAU-USD-PERP	+0.0067%	8h	4,376.2	+0.005%	$19K	$5K	5x	as long as short
Lighter XAUshort	+0.0072%	1h	4,374.9	−0.026%	$20.8M	$43.2M	25x
Lighter RH XAU	+0.0072%	1h	4,377.8	+0.041%	$20.2M	$40.8M	25x	as long as short
Aevo XAU-PERP	+0.0080%	1h	4,374.4	−0.036%	$162K	$87	10x	as long as short
Bluefin GOLD-PERP	+0.0092%	1h	4,368.4	−0.173%	$26K	$22K	20x	as long as short
Extended XAU-USD	+0.0096%	1h	4,372	−0.090%	$13.3M	$44.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0096%	1h	4,374.1	−0.043%	$2.0M	$5.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,372.7	−0.075%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,375.3	−0.015%	$278K	$204K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0103%	1h	4,376.2	+0.005%	$4.3M	$1.8M	20x	as long as short
Bybit XAUUSDT	+0.0119%	4h	4,376.7	+0.017%	$83.1M	$144.3M	150x	as long as short
Phemex XAUUSDT	+0.0126%	4h	4,377.1	+0.026%	$2.2M	$1.1M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0166%	8h	4,377.3	+0.030%	$161.0M	$280.6M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0184%	1h	4,375.1	−0.020%	$236K	$655K	25x	as long as short
Bullet GOLD-USD	+0.0194%	1h	4,376.5	+0.012%	$59K	$82K	10x	as long as short
Kraken Futures PF_XAUUSD	+0.0224%	1h	4,374	−0.046%	$596K	$154K	25x	as long as short
BloFin XAU-USDT	+0.0240%	4h	4,376.6	+0.015%	$14.8M	$4.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0244%	4h	4,378.5	+0.057%	$1.4M	$3.1M	25x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0390% / S −0.0197%	1h	4,376.5	+0.012%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0567%	4h	4,380.6	+0.105%	$2.9M	$3.8M	75x	as long as short