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= −7.9% APRpaid last 24h +0.019%

Price spread now: Polymarket Perps against MEXC−0.036%7-day average −0.076% · you buy dearer than you sell

Net, funding: paid 7d − costs−$1,071as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1,064as in the Price arb table

costs, in and out, $10k−$1,06810.677% of the position

Long on MEXC Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.030%−$3 on $10k

Price spread, last 7 days−0.038%−$4 · spread now −0.036%, 7d avg −0.076%

Together, before fees−0.068%−$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.040% dearer against MEXC than usual: you sell high and buy low (spread −0.036% now, against its 7-day average of −0.076%): +$4 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 45 hours. At the pace of the last 7 days (−0.030% in total) that is about 9.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC XAU_USDT	4,311.8	0.0122	pay 0.0061% / 4h	3h 20m	$360.3M	$347.7M	1000x
Short	Polymarket Perps GOLD-USD	4,310.3	0.0050	get 0.0006% / 1h	20m 25s	$4.3M	$1.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.036%Rate

Funding earned: −$15.12
Price spread: −0.036% → −0.076%: $4.02
Slippage, 4 orders: −$1,055.74
Fee MEXC: 2 bp × 2 orders: −$4
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$1,078.84
Costs to cover: 10.677%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; Polymarket Perps: 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 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 Polymarket Perps live order book, 4 min ago	166.20 bp	833.1 bp −$833	doesn't fit	doesn't fit	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
SunX XAU-USDT	0.0000%	4h	4,315.2	+0.078%	$92K	$6.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,305.5	−0.146%	$273K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.895%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,343.5	+0.734%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,309.1	−0.064%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,308.3	−0.082%	$291.0M	$54.5M	25x	as long as short
Polymarket Perps GOLD-USDshort	+0.0050%	1h	4,310.3	−0.036%	$4.3M	$1.8M	20x
Ondo Perps XAU-USD.P	+0.0050%	1h	4,307.5	−0.102%	$15.0M	$56.0M	25x	as long as short
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,306.7	−0.119%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,309.8	−0.048%	$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	+0.0069%	4h	4,312.9	+0.025%	$73.6M	$271.5M	20x	as long as short
Lighter XAU	+0.0080%	1h	4,309.4	−0.056%	$20.2M	$29.6M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,306.8	−0.117%	$32K	—	25x	as long as short
StandX XAU-USD	+0.0093%	1h	4,311.3	−0.013%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0095%	1h	4,301.6	−0.237%	$42K	$86K	25x	as long as short
Extended XAU-USD	+0.0096%	1h	4,307	−0.113%	$13.0M	$36.1M	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,306.5	−0.124%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,301.8	−0.234%	$273K	$219K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,312	+0.003%	$19.8M	$40.6M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,310.5	−0.032%	$160K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0114%	24h	4,312.8	+0.022%	$3.6M	$47.1M	15x	as long as short
Variational Omni XAU	+0.0115%	4h	4,311.4	−0.009%	$46.9M	$29.9M	—	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,300.7	−0.257%	$30.0M	$62.5M	50x	as long as short
MEXC XAU_USDTlong	+0.0122%	4h	4,311.8	long leg	$360.3M	$347.7M	1000x
RISEx XAU/USDC	+0.0126%	1h	4,312	+0.004%	$4.5M	$13.4M	25x	as long as short
Binance XAUUSDT	+0.0130%	4h	4,311.6	−0.005%	$437.3M	$2.26B	100x	as long as short
Bybit XAUUSDT	+0.0141%	4h	4,313.6	+0.040%	$79.7M	$161.2M	150x	as long as short
Gate XAU_USDT	+0.0178%	4h	4,313.2	+0.030%	$302.0M	$436.3M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0188%	4h	4,306.4	−0.126%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,311.9	+0.001%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,311.6	−0.005%	$70.3M	$127.4M	100x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0214%	1h	4,310.4	−0.033%	$133K	$831K	25x	as long as short
OKX XAU-USDT-SWAP	+0.0251%	8h	4,312.8	+0.022%	$170.6M	$341.2M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,308.6	−0.076%	$573K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0394%	4h	4,311.7	−0.003%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0313%	1h	4,311.9	+0.002%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0512%	4h	4,312.6	+0.018%	$2.2M	$986K	100x	as long as short
HTX XAU-USDT	+0.1220%	4h	4,318.1	+0.145%	$3.2M	$6.8M	75x	as long as short
Bluefin GOLD-PERP	+0.2471%	1h	4,304.6	−0.167%	$25K	$1K	20x	as long as short