Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.179%

Price spread now: Bluefin against MEXC−0.091%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Bluefin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Bluefin is 0.091% cheaper against MEXC than usual: you would sell low and buy high (−$9 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,305	0.0112	pay 0.0056% / 4h	3h 59m	$362.2M	$329.9M	1000x
Short	Bluefin GOLD-PERP	4,301.1	0.0100	get 0.0013% / 1h	59m 08s	$25K	$1K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bluefin 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 BluefinbpOrdersPrice spread, now −0.091%Rate

Funding earned: −$2.52
Price spread: −0.091% → 0.000%: −$9.06
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Bluefin: 3.5 bp × 2 orders: −$7
Net: −$22.58
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Bluefin: 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	0.04 bp	2.0 bp −$2	2.0 bp −$20	7.2 bp −$717	28.6 bp −$14.3K
Sell Bluefin no order-book sample	—	—	—	—	—

Bluefin: 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
Bybit XAUUSDT	0.0000%	4h	4,305.4	+0.009%	$77.0M	$156.5M	150x	as long as short
SunX XAU-USDT	0.0000%	4h	4,308.7	+0.086%	$92K	$7.0M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,300.5	−0.105%	$268K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+1.056%	$619	$54	52x	as long as short
QFEX GOLD-USD	+0.0045%	1h	4,304	−0.023%	$6.6M	$3.1M	20x	as long as short
Vest GC-PERP	+0.0046%	1h	4,336.8	+0.739%	—	$1.0M	25x	as long as short
Hotstuff GOLD-PERP	+0.0048%	1h	4,301.3	−0.085%	$32K	—	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,300.7	−0.099%	$289.9M	$53.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,306	+0.024%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,301.2	−0.087%	$15.0M	$55.4M	25x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,301.3	−0.085%	$2.0M	$5.1M	25x	as long as short
Aster XAUUSD1	+0.0058%	4h	4,306	+0.025%	$72.9M	$272.1M	20x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,304.3	−0.016%	$2K	$14K	5x	as long as short
Lighter RH XAU	+0.0064%	1h	4,306.3	+0.030%	$19.8M	$39.0M	25x	as long as short
Lighter XAU	+0.0072%	1h	4,303.7	−0.031%	$20.2M	$28.2M	25x	as long as short
Extended XAU-USD	+0.0096%	1h	4,300.6	−0.101%	$13.1M	$36.3M	25x	as long as short
Phoenix GOLD	+0.0096%	1h	4,302.4	−0.060%	$42K	$79K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,301.5	−0.081%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,303.7	−0.029%	$269K	$214K	50x	as long as short
Bluefin GOLD-PERPshort	+0.0100%	1h	4,301.1	−0.091%	$25K	$1K	20x
Kalshi KXGOLDPERP	+0.0102%	24h	4,306.6	+0.038%	$3.6M	$45.8M	15x	as long as short
Variational Omni XAU	+0.0102%	4h	4,304.4	−0.013%	$46.7M	$29.3M	—	as long as short
MEXC XAU_USDTlong	+0.0112%	4h	4,305	long leg	$362.2M	$329.9M	1000x
Aevo XAU-PERP	+0.0112%	1h	4,304.3	−0.016%	$159K	$87	10x	as long as short
Binance XAUUSDT	+0.0115%	4h	4,304.9	−0.002%	$428.4M	$2.19B	100x	as long as short
Gate XAU_USDT	+0.0120%	4h	4,306.9	+0.044%	$291.9M	$415.8M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0120%	4h	4,305	+0.001%	$1.4M	$3.0M	25x	as long as short
edgeX XAUUSDC	+0.0123%	4h	4,304	−0.024%	$29.9M	$60.6M	50x	as long as short
RISEx XAU/USDC	+0.0126%	1h	4,304.9	−0.001%	$4.4M	$13.1M	25x	as long as short
Bullet GOLD-USD	+0.0166%	1h	4,305	+0.001%	$59K	$81K	10x	as long as short
StandX XAU-USD	+0.0189%	1h	4,306.6	+0.038%	$3.8M	$4.5M	40x	as long as short
Bitget XAUUSDT	+0.0192%	4h	4,304.9	−0.003%	$70.8M	$122.8M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0256%	8h	4,305.1	+0.003%	$171.7M	$316.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,302.5	−0.056%	$572K	$138K	25x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0378%	1h	4,303.7	−0.030%	$135K	$869K	25x	as long as short
BloFin XAU-USDT	+0.0458%	4h	4,304.8	−0.004%	$16.6M	$4.9M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0466% / S −0.0313%	1h	4,304.7	−0.007%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0513%	4h	4,310.3	+0.123%	$2.2M	$950K	100x	as long as short
HTX XAU-USDT	+0.1186%	4h	4,313.5	+0.198%	$3.2M	$6.2M	75x	as long as short