Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0008%/8h= −0.8% APRpaid last 24h −0.028%

Price spread now: Ondo Perps against MEXC−0.050%7-day average −0.134% · you buy dearer than you sell

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

Long on MEXC Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.083%−$8 on $10k

Price spread, last 7 days−0.155%−$15 · spread now −0.050%, 7d avg −0.134%

Together, before fees−0.237%+ Points / potential airdropOndo Perps: Active · farm board−$24 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Ondo Perps is 0.084% dearer against MEXC than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.134%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,361	0.0058	pay 0.0029% / 4h	2h 59m	$372.3M	$318.3M	1000x
Short	Ondo Perps XAU-USD.P	4,358.8	0.0050	get 0.0006% / 1h	59m 11s	$14.8M	$57.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.050%Rate

Funding earned: −$1.6
Price spread: −0.050% → −0.134%: $8.41
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$2.19
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Ondo Perps: 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, 5 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	2.3 bp −$233	22.2 bp −$11.1K
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Bluefin GOLD-PERP	−0.0167%	1h	4,355.4	−0.128%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,361.8	+0.018%	$69.8M	$241.9M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.3	+0.006%	$264.7M	$400.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360	−0.023%	$4.0M	$36.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.4	+0.100%	$93K	$10.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.4	−0.083%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,357.5	−0.080%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.243%	$619	$54	52x	as long as short
Variational Omni XAU	+0.0040%	4h	4,362	+0.022%	$48.4M	$28.5M	—	as long as short
StandX XAU-USD	+0.0040%	1h	4,363	+0.046%	$3.8M	$4.7M	40x	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	+0.0045%	1h	4,362.7	+0.039%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,396.2	+0.807%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,359.9	−0.025%	$33K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,357	−0.092%	$294.0M	$51.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,361	0.000%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.Pshort	+0.0050%	1h	4,358.8	−0.050%	$14.8M	$57.3M	25x
Phoenix GOLD	+0.0055%	1h	4,359.6	−0.032%	$48K	$64K	25x	as long as short
MEXC XAU_USDTlong	+0.0058%	4h	4,361	long leg	$372.3M	$318.3M	1000x
Binance XAUUSDT	+0.0060%	4h	4,361.4	+0.009%	$411.5M	$2.13B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.102%	$30.3M	$60.4M	50x	as long as short
Lighter RH XAU	+0.0064%	1h	4,361.6	+0.014%	$20.2M	$40.5M	25x	as long as short
Lighter XAU	+0.0072%	1h	4,359.9	−0.026%	$20.6M	$43.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,358.6	−0.055%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.3	+0.053%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,360.8	−0.004%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.1	−0.021%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.2	−0.043%	$275K	$204K	50x	as long as short
Bitget XAUUSDT	+0.0112%	4h	4,360.1	−0.022%	$69.5M	$111.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,359.8	−0.028%	$235K	$659K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,362.9	+0.043%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.3	+0.029%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,362.6	+0.036%	$59K	$82K	10x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,361.1	+0.002%	$83.6M	$145.1M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0216%	8h	4,361.7	+0.016%	$164.2M	$286.6M	100x	as long as short
BloFin XAU-USDT	+0.0241%	4h	4,362.7	+0.040%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358.7	−0.053%	$594K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0291%	4h	4,364.2	+0.072%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361.5	+0.011%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0558%	4h	4,368	+0.160%	$2.9M	$3.9M	75x	as long as short