Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.018%

Price spread now: Injective against MEXC+1.003%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Injective

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—needs both histories

The price spread pays, funding is against you. Injective is 1.003% dearer against MEXC than usual: you sell high and buy low (spread +1.003% now, against zero (this spread has no 7-day history yet)): +$100 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 49 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,307.2	0.0102	pay 0.0051% / 4h	3h 35m	$361.8M	$337.4M	1000x
Short	Injective XAU/USDC PERP	4,350.4	0.0033	get 0.0004% / 1h	35m 15s	$619	$54	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.003%Rate

Funding earned: −$14.42
Price spread: +1.003% → 0.000%: $100.32
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $81.88
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 4 min ago; Injective: 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 −$209	15.3 bp −$7,655
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0032%	1h	4,305.5	−0.040%	$32K	—	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,311.4	+0.097%	$92K	$6.8M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,303.6	−0.085%	$278K	—	250x	as long as short
GRVT XAU_USDT_Perp	+0.0012%	4h	4,308	+0.019%	$1.4M	$3.0M	25x	as long as short
Injective XAU/USDC PERPshort	+0.0033%	1h	4,350.4	+1.003%	$619	$54	52x
StandX XAU-USD	+0.0040%	1h	4,306.8	−0.010%	$3.8M	$4.5M	40x	as long as short
Vest GC-PERP	+0.0046%	1h	4,338.7	+0.731%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,306.3	−0.021%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,304.1	−0.072%	$290.9M	$53.9M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,304.5	−0.063%	$4.3M	$1.8M	20x	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	4,303.5	−0.086%	$15.0M	$55.8M	25x	as long as short
Aster XAUUSD1	+0.0052%	4h	4,308.3	+0.025%	$73.4M	$271.9M	20x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,303.9	−0.077%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0061%	8h	4,306.2	−0.022%	$2K	$13K	5x	as long as short
Extended XAU-USD	+0.0064%	1h	4,303.2	−0.093%	$13.1M	$36.2M	25x	as long as short
Lighter XAU	+0.0080%	1h	4,306.2	−0.023%	$20.3M	$28.9M	25x	as long as short
Variational Omni XAU	+0.0089%	4h	4,305.9	−0.031%	$46.6M	$29.2M	—	as long as short
Phoenix GOLD	+0.0095%	1h	4,306.1	−0.026%	$42K	$86K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,302.7	−0.104%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,305.2	−0.047%	$275K	$218K	50x	as long as short
MEXC XAU_USDTlong	+0.0102%	4h	4,307.2	long leg	$361.8M	$337.4M	1000x
Binance XAUUSDT	+0.0103%	4h	4,307.4	+0.004%	$434.2M	$2.22B	100x	as long as short
Lighter RH XAU	+0.0104%	1h	4,308.9	+0.040%	$19.8M	$39.9M	25x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,306.2	−0.024%	$159K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0109%	24h	4,309.8	+0.060%	$3.7M	$46.5M	15x	as long as short
edgeX XAUUSDC	+0.0111%	4h	4,306.8	−0.011%	$30.0M	$61.5M	50x	as long as short
Bybit XAUUSDT	+0.0117%	4h	4,308.6	+0.032%	$77.5M	$157.2M	150x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,307.1	−0.003%	$4.4M	$13.1M	25x	as long as short
Gate XAU_USDT	+0.0160%	4h	4,310	+0.065%	$296.8M	$426.5M	100x	as long as short
Bitget XAUUSDT	+0.0190%	4h	4,307.5	+0.007%	$70.4M	$124.5M	100x	as long as short
Bullet GOLD-USD	+0.0195%	1h	4,307.2	−0.001%	$58K	$81K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0215%	1h	4,305.6	−0.037%	$134K	$846K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0249%	8h	4,308.8	+0.037%	$171.2M	$329.7M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,305.2	−0.048%	$573K	$138K	25x	as long as short
BloFin XAU-USDT	+0.0369%	4h	4,307.1	−0.002%	$16.2M	$5.0M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0314%	1h	4,307.6	+0.009%	$255K	—	111x	as long as short
Phemex XAUUSDT	+0.0527%	4h	4,310	+0.065%	$2.2M	$955K	100x	as long as short
HTX XAU-USDT	+0.1118%	4h	4,315.8	+0.199%	$3.2M	$6.2M	75x	as long as short
Bluefin GOLD-PERP	+0.4311%	1h	4,303.3	−0.091%	$25K	$1K	20x	as long as short