Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0024%/8h= +2.6% APRpaid last 24h +0.028%

Price spread now: MEXC against Ondo Perps+0.067%7-day average +0.134% · you sell dearer than you buy

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

Long on Ondo Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.083%+$8 on $10k

Price spread, last 7 days+0.186%+$19 · spread now +0.067%, 7d avg +0.134%

Together, before fees+0.268%+ Points / potential airdropOndo Perps: Active · farm board+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.067% cheaper against Ondo Perps than usual: you would sell low and buy high (spread +0.067% now, against its 7-day average of +0.134%). If the spread goes back, that is −$7 on $10k: about 9.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,342.4	0.0050	pay 0.0006% / 1h	4m 17s	$15.1M	$56.7M	25x
Short	MEXC XAU_USDT	4,345.3	0.0074	get 0.0037% / 4h	1h 04m	$370.7M	$320.6M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Ondo Perps. 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 Ondo PerpsbpFee MEXCbpOrdersPrice spread, now +0.067%Rate

Funding earned: $4.96
Price spread: +0.067% → +0.134%: −$6.68
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$10.72
Costs to cover: 0.090%
Break-even: 22.1 days

Slippage unknown: Ondo Perps: no order-book sample; MEXC: live order book, 5 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell MEXC live order book, 5 min ago	0.03 bp	2.0 bp −$2	2.1 bp −$21	4.6 bp −$464	23.3 bp −$11.7K

Ondo Perps: 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
Hotstuff GOLD-PERP	−0.0064%	1h	4,343.5	+0.025%	$33K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.2	+0.179%	$92K	$9.1M	20x	as long as short
Gate XAU_USDT	+0.0002%	4h	4,347.4	+0.114%	$265.8M	$417.6M	100x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,341.2	−0.027%	$266K	—	250x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,345.8	+0.078%	$3.4M	$12.3M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,341.1	−0.029%	$13.4M	$38.7M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.185%	$619	$54	52x	as long as short
Aster XAUUSD1	+0.0040%	4h	4,345.9	+0.081%	$70.8M	$334.1M	20x	as long as short
StandX XAU-USD	+0.0040%	1h	4,348	+0.129%	$3.8M	$4.6M	40x	as long as short
Kalshi KXGOLDPERP	+0.0041%	24h	4,344.4	+0.046%	$4.1M	$37.1M	15x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest GC-PERP	+0.0046%	1h	4,378.5	+0.831%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,345.5	+0.071%	$5.7M	$2.0M	20x	as long as short
Lighter XAU	+0.0048%	1h	4,344.9	+0.057%	$20.6M	$42.6M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,342.3	−0.002%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,342.7	+0.007%	$293.7M	$48.9M	25x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,342.4	long leg	$15.1M	$56.7M	25x
GRVT XAU_USDT_Perp	+0.0054%	4h	4,350.1	+0.177%	$1.4M	$2.9M	25x	as long as short
Lighter RH XAU	+0.0056%	1h	4,347.2	+0.110%	$20.1M	$39.9M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,346	+0.084%	$48.5M	$27.7M	—	as long as short
MEXC XAU_USDTshort	+0.0074%	4h	4,345.3	+0.067%	$370.7M	$320.6M	1000x
Binance XAUUSDT	+0.0075%	4h	4,345.2	+0.064%	$410.3M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0078%	8h	4,345.9	+0.081%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0085%	4h	4,343.7	+0.030%	$30.2M	$58.5M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,344.6	+0.050%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,342.5	+0.002%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,347	+0.106%	$275K	$203K	50x	as long as short
Polymarket Perps GOLD-USD	+0.0116%	1h	4,344.3	+0.044%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,346	+0.083%	$47K	$77K	25x	as long as short
Bullet GOLD-USD	+0.0192%	1h	4,345.9	+0.081%	$60K	$83K	10x	as long as short
Phemex XAUUSDT	+0.0205%	4h	4,349.1	+0.155%	$2.2M	$1.1M	100x	as long as short
Bybit XAUUSDT	+0.0208%	4h	4,346.7	+0.099%	$84.3M	$145.4M	150x	as long as short
Bitget XAUUSDT	+0.0216%	4h	4,345.8	+0.078%	$70.2M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0261%	8h	4,346.8	+0.101%	$165.3M	$283.1M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0270%	1h	4,342.5	+0.003%	$592K	$133K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0280%	1h	4,343.6	+0.028%	$268K	$767K	25x	as long as short
BloFin XAU-USDT	+0.0297%	4h	4,347.2	+0.110%	$15.7M	$4.6M	100x	as long as short
Bluefin GOLD-PERP	+0.0386%	1h	4,341.1	−0.031%	$25K	$14K	20x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0406% / S −0.0220%	1h	4,345.8	+0.078%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0592%	4h	4,352.1	+0.223%	$2.9M	$4.2M	75x	as long as short