Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.042%

Price spread now: gTrade (Gains Network) against MEXC−0.093%7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$271as in the Price arb table

costs, in and out, $10k−$2712.711% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.093%, 7d avg −0.091%

Together, before fees+0.030%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.091%, so right now this pair is about funding alone: −$2 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	4,358.6	0.0072	pay 0.0036% / 4h	1h 23m	$373.6M	$319.2M	1000x
Short	gTrade (Gains Network) XAU/USD	4,354.6	L +0.0002% / S −0.0003%	get 0.0000% / 1h	23m 10s	$267K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.093%Rate

Funding earned: −$14.46
Price spread: −0.093% → −0.091%: −$0.22
Slippage, 4 orders: −$260.09
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$285.77
Costs to cover: 2.711%
Break-even: never at this rate

Slippage from MEXC: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 6 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, 6 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	6.2 bp −$621	25.0 bp −$12.5K
Sell gTrade (Gains Network) virtual book (oracle venue), 6 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	doesn't fit

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	4,362.3	+0.084%	$93K	$9.2M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,354.6	−0.093%	$267K	—	250x
Gate XAU_USDT	+0.0006%	4h	4,359.9	+0.029%	$264.7M	$413.3M	100x	as long as short
RISEx XAU/USDC	+0.0010%	1h	4,357.4	−0.029%	$3.4M	$12.4M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,354.3	−0.100%	$13.6M	$38.9M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.188%	$619	$54	52x	as long as short
Kalshi KXGOLDPERP	+0.0039%	24h	4,355.3	−0.076%	$4.1M	$37.0M	15x	as long as short
StandX XAU-USD	+0.0040%	1h	4,359.3	+0.015%	$3.8M	$4.6M	40x	as long as short
Aster XAUUSD1	+0.0043%	4h	4,358.4	−0.006%	$70.6M	$333.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,391.3	+0.750%	—	$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	4,357	−0.037%	$5.6M	$1.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,355.7	−0.067%	$2.0M	$4.9M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,355.5	−0.072%	$294.2M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,353.8	−0.112%	$15.1M	$57.2M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0054%	4h	4,357.1	−0.035%	$1.4M	$3.0M	25x	as long as short
Lighter XAU	+0.0056%	1h	4,357.6	−0.023%	$20.7M	$42.3M	25x	as long as short
Variational Omni XAU	+0.0057%	4h	4,355.6	−0.069%	$48.3M	$27.9M	—	as long as short
Lighter RH XAU	+0.0064%	1h	4,359.8	+0.028%	$20.2M	$39.7M	25x	as long as short
MEXC XAU_USDTlong	+0.0072%	4h	4,358.6	long leg	$373.6M	$319.2M	1000x
Binance XAUUSDT	+0.0073%	4h	4,358.5	−0.003%	$412.1M	$2.10B	100x	as long as short
Paradex XAU-USD-PERP	+0.0080%	8h	4,357.8	−0.019%	$19K	$5K	5x	as long as short
edgeX XAUUSDC	+0.0090%	4h	4,351.8	−0.158%	$30.3M	$58.4M	50x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,357.1	−0.035%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,354.4	−0.097%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,354.7	−0.090%	$275K	$203K	50x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,354.5	−0.095%	$33K	—	25x	as long as short
Phemex XAUUSDT	+0.0123%	4h	4,358.8	+0.003%	$2.2M	$1.1M	100x	as long as short
Polymarket Perps GOLD-USD	+0.0123%	1h	4,357	−0.037%	$4.3M	$1.9M	20x	as long as short
Phoenix GOLD	+0.0136%	1h	4,356.1	−0.058%	$48K	$77K	25x	as long as short
Bybit XAUUSDT	+0.0199%	4h	4,360	+0.032%	$84.5M	$145.4M	150x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,358	−0.014%	$60K	$83K	10x	as long as short
Bitget XAUUSDT	+0.0212%	4h	4,359.2	+0.012%	$70.3M	$109.4M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0253%	8h	4,359.8	+0.027%	$165.3M	$282.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0255%	1h	4,357.3	−0.031%	$278K	$727K	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,354.8	−0.088%	$594K	$133K	25x	as long as short
BloFin XAU-USDT	+0.0292%	4h	4,358.7	0.000%	$15.6M	$4.6M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0401% / S −0.0214%	1h	4,358.4	−0.005%	$249K	—	111x	as long as short
Bluefin GOLD-PERP	+0.0419%	1h	4,351.8	−0.156%	$25K	$14K	20x	as long as short
HTX XAU-USDT	+0.0568%	4h	4,363.4	+0.109%	$2.9M	$4.2M	75x	as long as short