Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.009%

Price spread now: Polymarket Perps against MEXC−0.026%7-day average −0.078% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$130.134% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days−0.043%−$4 · spread now −0.026%, 7d avg −0.078%

Together, before fees−0.082%−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Polymarket Perps is 0.052% dearer against MEXC than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.078%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,334.7	0.0110	pay 0.0055% / 4h	2h 09m	$364.9M	$330.5M	1000x
Short	Polymarket Perps GOLD-USD	4,333.6	0.0177	get 0.0022% / 1h	9m 53s	$4.2M	$2.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket 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 Polymarket PerpsbpOrdersPrice spread, now −0.026%Rate

Funding earned: $13.99
Price spread: −0.026% → −0.078%: $5.21
Slippage, 4 orders: −$1.4
Fee MEXC: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: $5.8
Costs to cover: 0.134%
Break-even: 4.1 days

Slippage from MEXC: live order book, 4 min ago; Polymarket Perps: live order book, 4 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, 4 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	5.2 bp −$517	26.2 bp −$13.1K
Sell Polymarket Perps live order book, 4 min ago	0.12 bp	5.2 bp −$5	5.7 bp −$57	6.3 bp −$635	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
Bluefin GOLD-PERP	−0.0049%	1h	4,326.7	−0.185%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,337.6	+0.068%	$92K	$8.1M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329.9	−0.112%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,334.7	−0.001%	$78.4M	$156.7M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,331.3	−0.078%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.362%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333	−0.039%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,332.7	−0.046%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.6	+0.713%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,334.5	−0.006%	$20.4M	$31.8M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:GOLD	+0.0050%	1h	4,331.4	−0.076%	$292.1M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.9	−0.110%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,334.8	+0.001%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,334.7	0.000%	$4.0M	$42.2M	15x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,335.1	+0.008%	$271.9M	$416.7M	100x	as long as short
Lighter RH XAU	+0.0072%	1h	4,336.3	+0.037%	$19.9M	$38.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,330.9	−0.088%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,333.3	−0.033%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,335.3	+0.014%	$72.3M	$330.7M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,329.6	−0.118%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,324.2	−0.243%	$272K	$208K	50x	as long as short
Variational Omni XAU	+0.0101%	4h	4,331.5	−0.075%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	−0.209%	$1.4M	$3.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,329.6	−0.118%	$32K	—	25x	as long as short
MEXC XAU_USDTlong	+0.0110%	4h	4,334.7	long leg	$364.9M	$330.5M	1000x
Binance XAUUSDT	+0.0112%	4h	4,333.8	−0.020%	$414.8M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,333.8	−0.020%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	−0.187%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0128%	4h	4,322.8	−0.275%	$30.1M	$60.2M	50x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,333.7	−0.023%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USDshort	+0.0177%	1h	4,333.6	−0.026%	$4.2M	$2.0M	20x
HTX XAU-USDT	+0.0232%	4h	4,336.7	+0.046%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,331.5	−0.075%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0256%	4h	4,334.6	−0.002%	$68.1M	$119.0M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,334.2	−0.012%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0332%	8h	4,333.6	−0.026%	$170.8M	$297.4M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,333.3	−0.032%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0387%	4h	4,335.2	+0.012%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0302%	1h	4,334	−0.016%	$253K	—	111x	as long as short