Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.006%

Price spread now: MEXC against ApeX Omni+0.209%66s7-day average +0.039% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$370.373% of the position

Long on ApeX Omni Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.029%−$3 on $10k

Price spread, last 4 days (all we have)−0.155%−$15 · spread now +0.209%, 7d avg +0.039%

Together, before fees−0.183%−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and MEXC is 0.170% dearer against ApeX Omni than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.039%. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAUUSDT	4,324.2	0.0100	pay 0.0013% / 1h	10m 24s	$272K	$208K	50x
Short	MEXC XAU_USDT	4,333.2	0.0110	get 0.0055% / 4h	2h 10m	$364.7M	$330.2M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against ApeX Omni. 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 ApeX OmnibpFee MEXCbpOrdersPrice spread, now +0.209%Rate

Funding earned: $2.1
Price spread: +0.209% → +0.039%: $16.96
Slippage, 4 orders: −$23.34
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$18.28
Costs to cover: 0.373%
Break-even: 67.9 days

Slippage from ApeX Omni: live order book, 37 min ago; MEXC: 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 ApeX Omni live order book, 37 min ago	4.63 bp	19.8 bp −$20	31.8 bp −$318	64.7 bp −$6,469	doesn't fit
Sell MEXC live order book, 4 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	2.3 bp −$230	18.9 bp −$9,430

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	−0.0042%	1h	4,325.2	+0.023%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,337.2	+0.300%	$92K	$8.2M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,329.9	+0.131%	$271K	—	250x	as long as short
Bybit XAUUSDT	+0.0006%	4h	4,334.7	+0.243%	$78.4M	$156.8M	150x	as long as short
Extended XAU-USD	+0.0032%	1h	4,329.7	+0.128%	$13.1M	$36.8M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.607%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,333	+0.204%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,332.7	+0.197%	$5.4M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,365.6	+0.958%	—	$1.0M	25x	as long as short
Lighter XAU	+0.0048%	1h	4,332.4	+0.191%	$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	4,329.8	+0.130%	$292.0M	$51.8M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,329.9	+0.133%	$15.0M	$56.5M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,334.8	+0.245%	$3.8M	$12.5M	25x	as long as short
Kalshi KXGOLDPERP	+0.0063%	24h	4,333.1	+0.207%	$4.0M	$42.1M	15x	as long as short
Gate XAU_USDT	+0.0068%	4h	4,334.9	+0.248%	$272.1M	$416.5M	100x	as long as short
Lighter RH XAU	+0.0072%	1h	4,334.7	+0.244%	$19.9M	$38.9M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0072%	1h	4,327.9	+0.086%	$2.0M	$4.8M	25x	as long as short
Paradex XAU-USD-PERP	+0.0072%	8h	4,333.3	+0.211%	$19K	$5K	5x	as long as short
Aster XAUUSD1	+0.0099%	4h	4,335	+0.251%	$72.3M	$330.6M	20x	as long as short
Pacifica XAU	+0.0100%	1h	4,329.6	+0.126%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDTlong	+0.0100%	1h	4,324.2	long leg	$272K	$208K	50x
Variational Omni XAU	+0.0101%	4h	4,331.5	+0.169%	$46.8M	$28.6M	—	as long as short
GRVT XAU_USDT_Perp	+0.0102%	4h	4,325.7	+0.035%	$1.4M	$3.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0104%	1h	4,329.6	+0.126%	$32K	—	25x	as long as short
MEXC XAU_USDTshort	+0.0110%	4h	4,333.2	+0.209%	$364.7M	$330.2M	1000x
Binance XAUUSDT	+0.0112%	4h	4,333.6	+0.219%	$414.8M	$2.12B	100x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,331.2	+0.162%	$160K	$87	10x	as long as short
Phoenix GOLD	+0.0127%	1h	4,326.6	+0.056%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0128%	4h	4,322.8	−0.032%	$30.1M	$60.2M	50x	as long as short
Bullet GOLD-USD	+0.0160%	1h	4,333.7	+0.220%	$58K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0177%	1h	4,333.6	+0.218%	$4.2M	$2.0M	20x	as long as short
HTX XAU-USDT	+0.0234%	4h	4,334.6	+0.242%	$2.8M	$5.0M	75x	as long as short
Kraken Futures PF_XAUUSD	+0.0247%	1h	4,329.4	+0.121%	$590K	$130K	25x	as long as short
Bitget XAUUSDT	+0.0256%	4h	4,333.2	+0.209%	$68.1M	$118.9M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0258%	1h	4,331.5	+0.170%	$195K	$826K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0332%	8h	4,334.9	+0.248%	$170.8M	$296.9M	100x	as long as short
BloFin XAU-USDT	+0.0359%	4h	4,333.3	+0.212%	$16.0M	$4.5M	100x	as long as short
Phemex XAUUSDT	+0.0404%	4h	4,335.2	+0.254%	$2.2M	$962K	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0460% / S −0.0302%	1h	4,334	+0.227%	$253K	—	111x	as long as short