Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −11.0% APRpaid last 24h +0.186%

Price spread now: Bluefin against MEXC−0.158%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bluefin is 0.158% cheaper against MEXC than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,335.1	0.0092	pay 0.0046% / 4h	1h 42m	$366.7M	$353.4M	1000x
Short	Bluefin GOLD-PERP	4,328.2	−0.0008	pay 0.0001% / 1h	42m 41s	$25K	$1K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.158%Rate

Funding earned: −$21.08
Price spread: −0.158% → 0.000%: −$15.82
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$47.91
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Bluefin: no order-book sample. 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 MEXC live order book, 4 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	2.1 bp −$211	15.5 bp −$7,728
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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 exchanges

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	−3.2000%	1h	4,318.3	−0.388%	$32K	—	25x	as long as short
Bluefin GOLD-PERPshort	−0.0008%	1h	4,328.2	−0.158%	$25K	$1K	20x
SunX XAU-USDT	0.0000%	4h	4,339.1	+0.093%	$92K	$5.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	0.0000%	1h	4,330.6	−0.104%	$2.1M	$5.1M	25x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,331.8	−0.076%	$304K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.353%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,335.5	+0.009%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,333.9	−0.028%	$6.7M	$3.2M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,368.3	+0.766%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,331.5	−0.083%	$292.4M	$51.6M	25x	as long as short

Show all 39 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit GOLD_USDC-PERPETUAL	+0.0050%	1h	4,333.5	−0.037%	$135K	$707K	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,331.1	−0.093%	$15.1M	$59.5M	25x	as long as short
Aster XAUUSD1	+0.0052%	4h	4,336.5	+0.033%	$72.3M	$276.0M	20x	as long as short
Paradex XAU-USD-PERP	+0.0054%	8h	4,334.9	−0.005%	$2K	$13K	5x	as long as short
Variational Omni XAU	+0.0074%	4h	4,333.5	−0.036%	$47.3M	$29.2M	—	as long as short
Gate XAU_USDT	+0.0076%	4h	4,337	+0.043%	$298.2M	$445.2M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0077%	1h	4,334.6	−0.012%	$4.3M	$1.7M	20x	as long as short
Lighter XAU	+0.0080%	1h	4,334.6	−0.012%	$20.2M	$30.4M	25x	as long as short
Lighter RH XAU	+0.0088%	1h	4,336.9	+0.042%	$19.7M	$40.0M	25x	as long as short
Binance XAUUSDT	+0.0091%	4h	4,335.2	+0.001%	$441.7M	$2.43B	100x	as long as short
MEXC XAU_USDTlong	+0.0092%	4h	4,335.1	long leg	$366.7M	$353.4M	1000x
GRVT XAU_USDT_Perp	+0.0094%	4h	4,336.8	+0.039%	$1.4M	$3.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,331.6	−0.081%	$1.4M	$1.3M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,334	−0.025%	$284K	$223K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,333.6	−0.034%	$160K	$87	10x	as long as short
edgeX XAUUSDC	+0.0108%	4h	4,330.5	−0.107%	$30.3M	$67.7M	50x	as long as short
Extended XAU-USD	+0.0120%	1h	4,331.5	−0.082%	$12.5M	$34.6M	25x	as long as short
Bybit XAUUSDT	+0.0122%	4h	4,336.9	+0.042%	$82.9M	$172.2M	150x	as long as short
Phoenix GOLD	+0.0127%	1h	4,333.2	−0.044%	$43K	$71K	25x	as long as short
Kalshi KXGOLDPERP	+0.0137%	24h	4,335.8	+0.016%	$3.5M	$51.1M	15x	as long as short
Bullet GOLD-USD	+0.0163%	1h	4,334.6	−0.011%	$59K	$76K	10x	as long as short
RISEx XAU/USDC	+0.0205%	1h	4,334.8	−0.007%	$4.7M	$13.2M	25x	as long as short
Bitget XAUUSDT	+0.0210%	4h	4,335.2	+0.002%	$72.8M	$139.6M	100x	as long as short
Phemex XAUUSDT	+0.0227%	4h	4,337.8	+0.061%	$2.3M	$772K	100x	as long as short
OKX XAU-USDT-SWAP	+0.0237%	8h	4,336.1	+0.023%	$170.8M	$361.3M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0253%	1h	4,331.5	−0.083%	$583K	$169K	25x	as long as short
BloFin XAU-USDT	+0.0334%	4h	4,334.6	−0.011%	$16.3M	$5.3M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0308%	1h	4,334.6	−0.011%	$253K	—	111x	as long as short
HTX XAU-USDT	+0.1073%	4h	4,341.1	+0.139%	$3.2M	$7.1M	75x	as long as short