Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.020%

Price spread now: OKX against MEXC+0.020%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$140.143% of the position

Long on MEXC Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.024%−$2 on $10k

Price spread, last 7 days−0.022%−$2 · spread now +0.020%, 7d avg +0.009%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, so right now this pair is about funding alone: +$5 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	4,355.8	0.0074	pay 0.0037% / 4h	1h 27m	$373.1M	$318.5M	1000x
Short	OKX XAU-USDT-SWAP	4,356.7	0.0253	get 0.0253% / 8h	5h 27m	$165.0M	$282.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.020%Rate

Funding earned: $37.55
Price spread: +0.020% → +0.009%: $1.05
Slippage, 4 orders: −$0.3
Fee MEXC: 2 bp × 2 orders: −$4
Fee OKX: 5 bp × 2 orders: −$10
Net: $24.3
Costs to cover: 0.143%
Break-even: 2.5 days

Slippage from MEXC: live order book, 2 min ago; OKX: live order book, 2 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, 2 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	6.2 bp −$621	25.0 bp −$12.5K
Sell OKX live order book, 2 min ago	0.12 bp	5.1 bp −$5	5.1 bp −$51	6.5 bp −$648	13.2 bp −$6,600

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
SunX XAU-USDT	0.0000%	4h	4,358.7	+0.067%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,353.2	−0.060%	$267K	—	250x	as long as short
Gate XAU_USDT	+0.0006%	4h	4,356.7	+0.020%	$264.9M	$411.8M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,354.9	−0.022%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,351.8	−0.093%	$13.6M	$39.0M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.124%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,352.2	−0.084%	$4.1M	$36.9M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,354.2	−0.038%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,356.5	+0.016%	$70.5M	$333.8M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,388.9	+0.759%	—	$1.0M	25x	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	+0.0046%	1h	4,353	−0.065%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,351.1	−0.109%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,352.1	−0.086%	$294.0M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,352	−0.088%	$15.1M	$57.3M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0052%	4h	4,353.7	−0.050%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,354.5	−0.032%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,353	−0.066%	$48.3M	$27.8M	—	as long as short
Lighter RH XAU	+0.0072%	1h	4,356.6	+0.018%	$20.1M	$39.7M	25x	as long as short
MEXC XAU_USDTlong	+0.0074%	4h	4,355.8	long leg	$373.1M	$318.5M	1000x
Binance XAUUSDT	+0.0075%	4h	4,356.5	+0.016%	$413.1M	$2.09B	100x	as long as short
Paradex XAU-USD-PERP	+0.0081%	8h	4,355.8	−0.001%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0087%	4h	4,349.1	−0.155%	$30.3M	$58.2M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,353.2	−0.061%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,351.8	−0.092%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,351	−0.112%	$275K	$202K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0127%	1h	4,355.4	−0.010%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,350.3	−0.127%	$47K	$77K	25x	as long as short
Phemex XAUUSDT	+0.0140%	4h	4,354.6	−0.029%	$2.2M	$1.1M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0164%	1h	4,352.5	−0.077%	$258K	$706K	25x	as long as short
Bybit XAUUSDT	+0.0197%	4h	4,357.9	+0.047%	$84.6M	$145.5M	150x	as long as short
Hotstuff GOLD-PERP	+0.0200%	1h	4,351.2	−0.107%	$33K	—	25x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,355.5	−0.008%	$70.2M	$109.4M	100x	as long as short
Bullet GOLD-USD	+0.0212%	1h	4,356.1	+0.006%	$59K	$83K	10x	as long as short
OKX XAU-USDT-SWAPshort	+0.0253%	8h	4,356.7	+0.020%	$165.0M	$282.0M	100x
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,351.3	−0.105%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,353.9	−0.044%	$15.5M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0400% / S −0.0212%	1h	4,354.7	−0.026%	$249K	—	111x	as long as short
HTX XAU-USDT	+0.0565%	4h	4,359	+0.072%	$2.9M	$4.2M	75x	as long as short
Bluefin GOLD-PERP	+0.0707%	1h	4,347.3	−0.197%	$25K	$14K	20x	as long as short