Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.020%

Price spread now: MEXC against Hotstuff+0.051%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on MEXC

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. MEXC is 0.051% dearer against Hotstuff than usual: you sell high and buy low (spread +0.051% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff GOLD-PERP	4,304.5	0.0120	pay 0.0015% / 1h	6m 18s	$32K	—	25x
Short	MEXC XAU_USDT	4,306.7	0.0108	get 0.0054% / 4h	6m 18s	$365.9M	$341.0M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Hotstuff. 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 HotstuffbpFee MEXCbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$2.52
Price spread: +0.051% → 0.000%: $5.06
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$6.46
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; MEXC: live order book, 3 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 Hotstuff no order-book sample	—	—	—	—	—
Sell MEXC live order book, 3 min ago	0.04 bp	2.0 bp −$2	2.1 bp −$21	4.7 bp −$465	17.5 bp −$8,727

Hotstuff: 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
SunX XAU-USDT	0.0000%	4h	4,312.3	+0.182%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,302.8	−0.040%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.067%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,306.4	+0.044%	$5.7M	$3.0M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,339.2	+0.806%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,303	−0.035%	$289.9M	$52.5M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,304.1	−0.010%	$15.0M	$55.3M	25x	as long as short
Aster XAUUSD1	+0.0057%	4h	4,307.9	+0.080%	$72.8M	$271.9M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,307.7	+0.073%	$2K	$14K	5x	as long as short
Bluefin GOLD-PERP	+0.0070%	1h	4,302.4	−0.050%	$25K	$1K	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit XAUUSDT	+0.0071%	4h	4,307.6	+0.072%	$77.2M	$155.3M	150x	as long as short
Lighter XAU	+0.0072%	1h	4,306.9	+0.055%	$20.2M	$30.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,304.3	−0.005%	$2.0M	$5.1M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,313.9	+0.218%	$42K	$79K	25x	as long as short
Kalshi KXGOLDPERP	+0.0099%	24h	4,309.5	+0.116%	$3.6M	$45.3M	15x	as long as short
Variational Omni XAU	+0.0100%	4h	4,316.5	+0.278%	$47.1M	$29.0M	—	as long as short
Pacifica XAU	+0.0100%	1h	4,304.3	−0.005%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,313.5	+0.209%	$272K	$209K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,309.9	+0.125%	$19.9M	$40.2M	25x	as long as short
Extended XAU-USD	+0.0104%	1h	4,303.8	−0.015%	$13.2M	$36.6M	25x	as long as short
MEXC XAU_USDTshort	+0.0108%	4h	4,306.7	+0.051%	$365.9M	$341.0M	1000x
Binance XAUUSDT	+0.0110%	4h	4,306.8	+0.054%	$429.0M	$2.16B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0112%	4h	4,316.1	+0.269%	$1.4M	$3.0M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,306.4	+0.044%	$159K	$87	10x	as long as short
Gate XAU_USDT	+0.0118%	4h	4,308.6	+0.096%	$284.7M	$430.5M	100x	as long as short
Hotstuff GOLD-PERPlong	+0.0120%	1h	4,304.5	long leg	$32K	—	25x
edgeX XAUUSDC	+0.0127%	4h	4,313.1	+0.201%	$30.0M	$59.8M	50x	as long as short
StandX XAU-USD	+0.0130%	1h	4,310.3	+0.135%	$3.8M	$4.5M	40x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,306.7	+0.052%	$70.4M	$121.4M	100x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,306.8	+0.053%	$59K	$81K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0222%	1h	4,307	+0.058%	$4.3M	$1.8M	20x	as long as short
Kraken Futures PF_XAUUSD	+0.0229%	1h	4,305	+0.012%	$573K	$138K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0264%	8h	4,307	+0.058%	$175.2M	$305.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0308%	1h	4,305.5	+0.023%	$136K	$865K	25x	as long as short
BloFin XAU-USDT	+0.0371%	4h	4,308.4	+0.091%	$16.5M	$5.0M	100x	as long as short
Phemex XAUUSDT	+0.0455%	4h	4,312.2	+0.178%	$2.2M	$949K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0464% / S −0.0311%	1h	4,307.9	+0.078%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.0540%	4h	4,314.3	+0.227%	$3.2M	$6.1M	75x	as long as short
RISEx XAU/USDC	+0.0643%	1h	4,307.4	+0.066%	$4.5M	$13.1M	25x	as long as short