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: MEXC against Ondo Perps+0.050%7-day average +0.134% · you sell dearer than you buy

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

Long on Ondo Perps Short on MEXC

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: MEXC is 0.084% cheaper against Ondo Perps than usual: you would sell low and buy high, −$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	Ondo Perps XAU-USD.P	4,358.8	0.0050	pay 0.0006% / 1h	59m 08s	$14.8M	$57.3M	25x
Short	MEXC XAU_USDT	4,361	0.0058	get 0.0029% / 4h	2h 59m	$372.3M	$318.3M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Ondo Perps. 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 Ondo PerpsbpFee MEXCbpOrdersPrice 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 Ondo Perps: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$15.81
Costs to cover: 0.090%
Break-even: 76.3 days

Slippage unknown: Ondo Perps: no order-book sample; MEXC: live order book, 5 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell MEXC live order book, 5 min ago	0.03 bp	2.0 bp −$2	2.2 bp −$22	8.4 bp −$839	26.7 bp −$13.4K

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	−0.078%	$26K	$22K	20x	as long as short
Aster XAUUSD1	0.0000%	4h	4,361.8	+0.068%	$69.8M	$241.9M	20x	as long as short
Gate XAU_USDT	0.0000%	4h	4,361.3	+0.056%	$264.7M	$400.2M	100x	as long as short
Kalshi KXGOLDPERP	0.0000%	24h	4,360	+0.027%	$4.0M	$36.4M	15x	as long as short
SunX XAU-USDT	0.0000%	4h	4,365.4	+0.150%	$93K	$10.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,357.4	−0.033%	$269K	—	250x	as long as short
Extended XAU-USD	+0.0032%	1h	4,357.5	−0.030%	$13.5M	$43.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	−0.193%	$619	$54	52x	as long as short
Variational Omni XAU	+0.0040%	4h	4,362	+0.073%	$48.4M	$28.5M	—	as long as short
StandX XAU-USD	+0.0040%	1h	4,363	+0.096%	$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	+0.089%	$5.6M	$1.9M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,396.2	+0.858%	—	$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	−0.042%	$294.0M	$51.8M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,361	+0.050%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,358.8	long leg	$14.8M	$57.3M	25x
Phoenix GOLD	+0.0055%	1h	4,359.6	+0.018%	$48K	$64K	25x	as long as short
MEXC XAU_USDTshort	+0.0058%	4h	4,361	+0.050%	$372.3M	$318.3M	1000x
Binance XAUUSDT	+0.0060%	4h	4,361.4	+0.059%	$411.5M	$2.13B	100x	as long as short
edgeX XAUUSDC	+0.0063%	4h	4,356.5	−0.052%	$30.3M	$60.4M	50x	as long as short
Lighter RH XAU	+0.0064%	1h	4,361.6	+0.064%	$20.2M	$40.5M	25x	as long as short
Lighter XAU	+0.0072%	1h	4,359.9	+0.024%	$20.6M	$43.2M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,358.6	−0.005%	$2.0M	$5.0M	25x	as long as short
Paradex XAU-USD-PERP	+0.0088%	8h	4,363.3	+0.104%	$19K	$5K	5x	as long as short
Aevo XAU-PERP	+0.0096%	1h	4,360.8	+0.046%	$161K	$87	10x	as long as short
Pacifica XAU	+0.0100%	1h	4,360.1	+0.030%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,359.2	+0.008%	$275K	$204K	50x	as long as short
Bitget XAUUSDT	+0.0112%	4h	4,360.1	+0.029%	$69.5M	$111.5M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0117%	1h	4,359.8	+0.022%	$235K	$659K	25x	as long as short
RISEx XAU/USDC	+0.0135%	1h	4,362.9	+0.093%	$3.4M	$12.4M	25x	as long as short
GRVT XAU_USDT_Perp	+0.0152%	4h	4,362.3	+0.079%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0155%	1h	4,362.6	+0.086%	$59K	$82K	10x	as long as short
Bybit XAUUSDT	+0.0195%	4h	4,361.1	+0.052%	$83.6M	$145.1M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0216%	8h	4,361.7	+0.066%	$164.2M	$286.6M	100x	as long as short
BloFin XAU-USDT	+0.0241%	4h	4,362.7	+0.090%	$15.4M	$4.6M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0269%	1h	4,358.7	−0.002%	$594K	$141K	25x	as long as short
Phemex XAUUSDT	+0.0291%	4h	4,364.2	+0.122%	$2.2M	$1.1M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0394% / S −0.0199%	1h	4,361.5	+0.061%	$254K	—	111x	as long as short
HTX XAU-USDT	+0.0558%	4h	4,368	+0.210%	$2.9M	$3.9M	75x	as long as short