Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.009%

Price spread now: MEXC against Polymarket Perps+0.019%7-day average +0.078% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days+0.050%+$5 · spread now +0.019%, 7d avg +0.078%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and MEXC is 0.059% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.078%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps GOLD-USD	4,321.5	0.0207	pay 0.0026% / 1h	54m 33s	$4.2M	$1.9M	20x
Short	MEXC XAU_USDT	4,322.3	0.0096	get 0.0048% / 4h	1h 54m	$363.2M	$324.3M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Polymarket 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 Polymarket PerpsbpFee MEXCbpOrdersPrice spread, now +0.019%Rate

Funding earned: −$23.25
Price spread: +0.019% → +0.078%: −$5.85
Slippage, 4 orders: −$1.4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$42.5
Costs to cover: 0.134%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 4 min ago; MEXC: live order book, 5 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 Polymarket Perps live order book, 4 min ago	0.12 bp	4.3 bp −$4	4.4 bp −$44	5.6 bp −$556	doesn't fit
Sell MEXC live order book, 5 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	6.1 bp −$606	23.7 bp −$11.8K

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
Bluefin GOLD-PERP	−0.0032%	1h	4,319.1	−0.056%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,328.6	+0.163%	$92K	$8.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,320	−0.034%	$270K	—	250x	as long as short
Bybit XAUUSDT	+0.0010%	4h	4,322.2	+0.017%	$77.7M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,318.4	−0.071%	$13.1M	$36.6M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.669%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,327.3	+0.134%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0042%	1h	4,321.8	+0.007%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,354.6	+0.766%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,319.7	−0.042%	$291.4M	$51.6M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAU-USD.P	+0.0050%	1h	4,318.2	−0.077%	$15.0M	$56.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,321.7	+0.005%	$20.3M	$30.1M	25x	as long as short
Hotstuff GOLD-PERP	+0.0064%	1h	4,321	−0.012%	$32K	—	25x	as long as short
Kalshi KXGOLDPERP	+0.0068%	24h	4,326.5	+0.116%	$3.9M	$42.7M	15x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,322.7	+0.027%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,322.6	+0.025%	$2.1M	$4.9M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0074%	4h	4,326.5	+0.116%	$1.4M	$3.0M	25x	as long as short
Gate XAU_USDT	+0.0076%	4h	4,324.3	+0.064%	$274.5M	$405.2M	100x	as long as short
Aster XAUUSD1	+0.0080%	4h	4,323.1	+0.036%	$72.3M	$317.5M	20x	as long as short
Variational Omni XAU	+0.0089%	4h	4,326.3	+0.111%	$47.1M	$29.2M	—	as long as short
Lighter RH XAU	+0.0096%	1h	4,324.2	+0.062%	$19.8M	$38.3M	25x	as long as short
MEXC XAU_USDTshort	+0.0096%	4h	4,322.3	+0.019%	$363.2M	$324.3M	1000x
Binance XAUUSDT	+0.0097%	4h	4,321.5	0.000%	$413.3M	$2.13B	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,318.9	−0.060%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,322.3	+0.019%	$272K	$208K	50x	as long as short
edgeX XAUUSDC	+0.0102%	4h	4,324.1	+0.060%	$30.1M	$60.3M	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,324	+0.058%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,324.8	+0.076%	$47K	$79K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0153%	1h	4,322.1	+0.014%	$589K	$130K	25x	as long as short
RISEx XAU/USDC	+0.0184%	1h	4,322.8	+0.030%	$3.7M	$12.5M	25x	as long as short
Bullet GOLD-USD	+0.0201%	1h	4,327.1	+0.130%	$59K	$82K	10x	as long as short
HTX XAU-USDT	+0.0206%	4h	4,328.2	+0.155%	$2.8M	$4.9M	75x	as long as short
Polymarket Perps GOLD-USDlong	+0.0207%	1h	4,321.5	long leg	$4.2M	$1.9M	20x
Bitget XAUUSDT	+0.0234%	4h	4,321.4	−0.003%	$67.9M	$119.2M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0305%	1h	4,323.4	+0.044%	$193K	$829K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0317%	8h	4,322.2	+0.016%	$170.1M	$296.9M	100x	as long as short
BloFin XAU-USDT	+0.0337%	4h	4,325	+0.081%	$16.0M	$4.4M	100x	as long as short
Phemex XAUUSDT	+0.0395%	4h	4,327.8	+0.145%	$2.2M	$961K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0463% / S −0.0307%	1h	4,324.4	+0.068%	$253K	—	111x	as long as short