Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h +0.009%

Price spread now: MEXC against Coinbase International+0.044%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.372%−$37 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now +0.044%, 7d avg +0.096%

Together, before fees−0.363%−$36 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.051% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.044% now, against its 7-day average of +0.096%). If the spread goes back, that is −$5 on $10k: about 3.7 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.372%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International GOLD-PERP-INTX	4,348.6	0.0072	pay 0.0009% / 1h	45m 56s	$2.1M	$4.7M	25x
Short	MEXC XAU_USDT	4,350.5	0.0118	get 0.0059% / 4h	2h 45m	$370.2M	$318.0M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Coinbase International. 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 Coinbase InternationalbpFee MEXCbpOrdersPrice spread, now +0.044%Rate

Funding earned: $9.66
Price spread: +0.044% → +0.096%: −$5.11
Slippage, 4 orders: −$1.33
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$10.79
Costs to cover: 0.153%
Break-even: 14.8 days

Slippage from Coinbase International: live order book, 3 min ago; MEXC: live order book, 3 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 Coinbase International live order book, 3 min ago	0.12 bp	5.6 bp −$6	7.5 bp −$75	42.9 bp −$4,287	doesn't fit
Sell MEXC live order book, 3 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	2.1 bp −$215	23.4 bp −$11.7K

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	−0.0052%	1h	4,344.4	−0.096%	$25K	$14K	20x	as long as short
SunX XAU-USDT	0.0000%	4h	4,354.9	+0.145%	$93K	$8.5M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,346.3	−0.054%	$272K	—	250x	as long as short
Hotstuff GOLD-PERP	+0.0024%	1h	4,346.8	−0.041%	$33K	—	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,346.1	−0.058%	$13.2M	$37.3M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.042%	$619	$54	52x	as long as short
StandX XAU-USD	+0.0040%	1h	4,351.5	+0.067%	$3.8M	$4.5M	40x	as long as short
QFEX GOLD-USD	+0.0044%	1h	4,348.9	+0.007%	$5.5M	$2.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,383.2	+0.796%	—	$1.0M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,346.7	−0.044%	$293.7M	$49.5M	25x	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	4,347.3	−0.031%	$15.1M	$56.7M	25x	as long as short
RISEx XAU/USDC	+0.0054%	1h	4,350.8	+0.050%	$3.7M	$12.6M	25x	as long as short
Kalshi KXGOLDPERP	+0.0054%	24h	4,349.3	+0.016%	$4.2M	$39.4M	15x	as long as short
Lighter XAU	+0.0056%	1h	4,349	+0.009%	$20.7M	$30.4M	25x	as long as short
Bybit XAUUSDT	+0.0067%	4h	4,351.1	+0.058%	$80.2M	$151.6M	150x	as long as short
Paradex XAU-USD-PERP	+0.0070%	8h	4,350.6	+0.046%	$19K	$5K	5x	as long as short
Coinbase International GOLD-PERP-INTXlong	+0.0072%	1h	4,348.6	long leg	$2.1M	$4.7M	25x
Gate XAU_USDT	+0.0074%	4h	4,351.7	+0.071%	$271.8M	$397.5M	100x	as long as short
Pacifica XAU	+0.0100%	1h	4,346.9	−0.040%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.9	−0.039%	$277K	$204K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,351.4	+0.065%	$20.1M	$38.1M	25x	as long as short
Aster XAUUSD1	+0.0106%	4h	4,352.4	+0.087%	$71.6M	$331.2M	20x	as long as short
Variational Omni XAU	+0.0107%	4h	4,349.4	+0.018%	$48.5M	$27.6M	—	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,349.5	+0.021%	$161K	$87	10x	as long as short
MEXC XAU_USDTshort	+0.0118%	4h	4,350.5	+0.044%	$370.2M	$318.0M	1000x
Binance XAUUSDT	+0.0118%	4h	4,350.5	+0.044%	$418.8M	$2.09B	100x	as long as short
GRVT XAU_USDT_Perp	+0.0124%	4h	4,350	+0.033%	$1.4M	$2.9M	25x	as long as short
Phoenix GOLD	+0.0127%	1h	4,347.7	−0.021%	$47K	$77K	25x	as long as short
edgeX XAUUSDC	+0.0132%	4h	4,345.7	−0.066%	$30.2M	$58.1M	50x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0141%	1h	4,348.6	0.000%	$203K	$822K	25x	as long as short
Bullet GOLD-USD	+0.0158%	1h	4,350.1	+0.036%	$59K	$82K	10x	as long as short
Polymarket Perps GOLD-USD	+0.0167%	1h	4,350	+0.032%	$4.3M	$2.0M	20x	as long as short
Phemex XAUUSDT	+0.0200%	4h	4,352.9	+0.098%	$2.2M	$967K	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0246%	1h	4,347.2	−0.033%	$591K	$128K	25x	as long as short
HTX XAU-USDT	+0.0266%	4h	4,352.4	+0.086%	$2.8M	$4.6M	75x	as long as short
Bitget XAUUSDT	+0.0278%	4h	4,350.9	+0.052%	$71.5M	$107.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0335%	8h	4,351.6	+0.069%	$168.1M	$282.2M	100x	as long as short
BloFin XAU-USDT	+0.0371%	4h	4,349.2	+0.015%	$15.8M	$4.4M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0428% / S −0.0252%	1h	4,350.1	+0.036%	$251K	—	111x	as long as short