Funding arb · Price arb /

XAU

RWAall XAU markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0072%/8h= −7.8% APRpaid last 24h −0.015%

Price spread now: Ondo Perps against MEXC−0.153%7-day average −0.128% · you buy dearer than you sell

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

Long on MEXC Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 7 days+0.113%+$11 · spread now −0.153%, 7d avg −0.128%

Together, before fees+0.037%+ Points / potential airdropOndo Perps: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Ondo Perps is 0.025% cheaper against MEXC than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.128%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,314.1	0.0122	pay 0.0061% / 4h	3h 19m	$356.3M	$348.6M	1000x
Short	Ondo Perps XAU-USD.P	4,307.5	0.0050	get 0.0006% / 1h	19m 49s	$15.0M	$56.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against MEXC. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.153%Rate

Funding earned: −$15.04
Price spread: −0.153% → −0.128%: −$2.46
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$26.5
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Ondo Perps: 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, 4 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	2.3 bp −$230	16.7 bp −$8,369
Sell Ondo Perps no order-book sample	—	—	—	—	—

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
SunX XAU-USDT	0.0000%	4h	4,315.6	+0.037%	$92K	$6.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,307.7	−0.147%	$273K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.843%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,343.5	+0.683%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,309.1	−0.115%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,310.7	−0.078%	$291.2M	$54.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,310.3	−0.087%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.Pshort	+0.0050%	1h	4,307.5	−0.153%	$15.0M	$56.0M	25x
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,306.7	−0.170%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,309.8	−0.099%	$2K	$13K	5x	as long as short

Show all 39 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAUUSD1	+0.0071%	4h	4,314.6	+0.013%	$73.9M	$271.4M	20x	as long as short
Lighter XAU	+0.0080%	1h	4,313.7	−0.009%	$20.3M	$29.6M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,306.8	−0.168%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,308.3	−0.133%	$13.0M	$36.1M	25x	as long as short
StandX XAU-USD	+0.0093%	1h	4,311.3	−0.064%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0095%	1h	4,301.6	−0.289%	$42K	$86K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,306.5	−0.176%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,301.8	−0.285%	$273K	$219K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,314.9	+0.019%	$19.8M	$40.6M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,310.3	−0.086%	$160K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0114%	24h	4,313.8	−0.006%	$3.6M	$47.1M	15x	as long as short
Variational Omni XAU	+0.0115%	4h	4,311.4	−0.061%	$46.9M	$29.9M	—	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,300.7	−0.309%	$30.0M	$62.5M	50x	as long as short
MEXC XAU_USDTlong	+0.0122%	4h	4,314.1	long leg	$356.3M	$348.6M	1000x
RISEx XAU/USDC	+0.0126%	1h	4,312	−0.047%	$4.5M	$13.4M	25x	as long as short
Binance XAUUSDT	+0.0129%	4h	4,313.2	−0.019%	$437.4M	$2.26B	100x	as long as short
Bybit XAUUSDT	+0.0145%	4h	4,314	−0.001%	$79.8M	$161.4M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0168%	1h	4,310.9	−0.073%	$133K	$832K	25x	as long as short
Gate XAU_USDT	+0.0178%	4h	4,316.6	+0.060%	$302.0M	$436.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0188%	4h	4,306.4	−0.177%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,311.9	−0.050%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,314.5	+0.010%	$70.4M	$127.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0251%	8h	4,313.6	−0.010%	$170.8M	$341.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,309.2	−0.112%	$573K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0394%	4h	4,311.7	−0.054%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0313%	1h	4,311.5	−0.059%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0473%	4h	4,312.9	−0.027%	$2.2M	$959K	100x	as long as short
HTX XAU-USDT	+0.1204%	4h	4,317.3	+0.075%	$3.2M	$6.9M	75x	as long as short
Bluefin GOLD-PERP	+0.2382%	1h	4,305.5	−0.199%	$25K	$1K	20x	as long as short