Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h −0.042%

Price spread now: gTrade (Gains Network) against MEXC−0.094%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$271as in the Price arb table

costs, in and out, $10k−$2712.711% of the position

Long on MEXC Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.048%−$5 on $10k

Price spread, last 4 days (all we have)+0.079%+$8 · spread now −0.094%, 7d avg −0.092%

Together, before fees+0.031%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.092%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,347.1	0.0094	pay 0.0047% / 4h	34m 31s	$372.8M	$317.6M	1000x
Short	gTrade (Gains Network) XAU/USD	4,343	L +0.0002% / S −0.0003%	get 0.0000% / 1h	34m 31s	$271K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.094%Rate

Funding earned: −$19.1
Price spread: −0.094% → −0.092%: −$0.21
Slippage, 4 orders: −$260.09
Fee MEXC: 2 bp × 2 orders: −$4
Fee gTrade (Gains Network): 3.5 bp × 2 orders: −$7
Net: −$290.41
Costs to cover: 2.711%
Break-even: never at this rate

Slippage from MEXC: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 55 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, 5 min ago	0.03 bp	2.0 bp −$2	2.0 bp −$20	2.2 bp −$222	16.9 bp −$8,436
Sell gTrade (Gains Network) virtual book (oracle venue), 55 min ago	130.01 bp	133.5 bp −$134	243.0 bp −$2,430	1975.4 bp −$197.5K	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
RISEx XAU/USDC	0.0000%	1h	4,347	−0.002%	$3.4M	$12.3M	25x	as long as short
SunX XAU-USDT	0.0000%	4h	4,350.2	+0.072%	$92K	$9.0M	20x	as long as short
gTrade (Gains Network) XAU/USDshort	L +0.0002% / S −0.0003%	1h	4,343	−0.094%	$271K	—	250x
Gate XAU_USDT	+0.0008%	4h	4,348	+0.019%	$267.7M	$412.0M	100x	as long as short
Lighter XAU	+0.0032%	1h	4,345.7	−0.032%	$20.8M	$37.8M	25x	as long as short
Extended XAU-USD	+0.0032%	1h	4,343.2	−0.090%	$13.3M	$38.5M	25x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.076%	$619	$54	52x	as long as short
Lighter RH XAU	+0.0040%	1h	4,347.7	+0.014%	$20.1M	$39.2M	25x	as long as short
StandX XAU-USD	+0.0040%	1h	4,347.1	0.000%	$3.8M	$4.6M	40x	as long as short
QFEX GOLD-USD	+0.0041%	1h	4,346.8	−0.007%	$5.7M	$2.0M	20x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kalshi KXGOLDPERP	+0.0045%	24h	4,344.5	−0.060%	$4.1M	$37.2M	15x	as long as short
Vest GC-PERP	+0.0046%	1h	4,379.8	+0.752%	—	$1.1M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0048%	1h	4,343.1	−0.092%	$2.0M	$4.8M	25x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,343.7	−0.078%	$293.7M	$48.7M	25x	as long as short
Ondo Perps XAU-USD.P	+0.0050%	1h	4,343.7	−0.079%	$15.1M	$56.8M	25x	as long as short
Aster XAUUSD1	+0.0064%	4h	4,347.5	+0.008%	$71.0M	$333.7M	20x	as long as short
Variational Omni XAU	+0.0080%	4h	4,346.7	−0.010%	$48.5M	$27.8M	—	as long as short
Paradex XAU-USD-PERP	+0.0085%	8h	4,347.3	+0.003%	$19K	$5K	5x	as long as short
GRVT XAU_USDT_Perp	+0.0088%	4h	4,348.2	+0.026%	$1.4M	$3.0M	25x	as long as short
Binance XAUUSDT	+0.0093%	4h	4,347.1	0.000%	$413.9M	$2.09B	100x	as long as short
MEXC XAU_USDTlong	+0.0094%	4h	4,347.1	long leg	$372.8M	$317.6M	1000x
edgeX XAUUSDC	+0.0095%	4h	4,343.4	−0.086%	$30.2M	$58.3M	50x	as long as short
Pacifica XAU	+0.0100%	1h	4,343.3	−0.088%	$1.4M	$1.1M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,346.8	−0.007%	$275K	$203K	50x	as long as short
Aevo XAU-PERP	+0.0104%	1h	4,345.6	−0.034%	$161K	$87	10x	as long as short
Phoenix GOLD	+0.0142%	1h	4,347.3	+0.004%	$47K	$77K	25x	as long as short
Polymarket Perps GOLD-USD	+0.0151%	1h	4,346.6	−0.012%	$4.3M	$1.9M	20x	as long as short
Hotstuff GOLD-PERP	+0.0160%	1h	4,343.7	−0.078%	$33K	—	25x	as long as short
Kraken Futures PF_XAUUSD	+0.0194%	1h	4,343.4	−0.085%	$592K	$132K	25x	as long as short
Bullet GOLD-USD	+0.0199%	1h	4,346.9	−0.005%	$59K	$82K	10x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0210%	1h	4,345.3	−0.042%	$243K	$789K	25x	as long as short
Phemex XAUUSDT	+0.0218%	4h	4,349.7	+0.059%	$2.2M	$967K	100x	as long as short
Bitget XAUUSDT	+0.0232%	4h	4,347.3	+0.004%	$70.0M	$109.2M	100x	as long as short
Bybit XAUUSDT	+0.0238%	4h	4,348.4	+0.030%	$85.0M	$145.0M	150x	as long as short
OKX XAU-USDT-SWAP	+0.0284%	8h	4,348.4	+0.030%	$165.6M	$281.7M	100x	as long as short
Bluefin GOLD-PERP	+0.0285%	1h	4,340.5	−0.151%	$25K	$14K	20x	as long as short
BloFin XAU-USDT	+0.0344%	4h	4,346.1	−0.023%	$15.6M	$4.5M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0413% / S −0.0230%	1h	4,347	−0.003%	$248K	—	111x	as long as short
HTX XAU-USDT	+0.0626%	4h	4,351.6	+0.103%	$2.9M	$4.3M	75x	as long as short