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: MEXC against Ondo Perps+0.153%7-day average +0.128% · you sell dearer than you buy

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

Long on Ondo Perps Short on MEXC

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 for this trade now. Funding pays +$2 a day on $10k at the current rate, and MEXC is 0.025% dearer against Ondo Perps than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.128%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAU-USD.P	4,307.5	0.0050	pay 0.0006% / 1h	19m 46s	$15.0M	$56.0M	25x
Short	MEXC XAU_USDT	4,314.1	0.0122	get 0.0061% / 4h	3h 19m	$356.3M	$348.6M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Ondo Perps. 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 Ondo PerpsbpFee MEXCbpOrdersPrice spread, now +0.153%Rate

Funding earned: $15.04
Price spread: +0.153% → +0.128%: $2.48
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee MEXC: 2 bp × 2 orders: −$4
Net: $8.52
Costs to cover: 0.090%
Break-even: 3.0 days

Slippage unknown: Ondo Perps: no order-book sample; MEXC: live order book, 4 min ago. 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 Ondo Perps no order-book sample	—	—	—	—	—
Sell MEXC live order book, 4 min ago	0.04 bp	2.0 bp −$2	2.0 bp −$20	4.2 bp −$422	18.6 bp −$9,283

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	+0.190%	$92K	$6.7M	20x	as long as short
gTrade (Gains Network) XAU/USD	L +0.0002% / S −0.0003%	1h	4,307.7	+0.005%	$273K	—	250x	as long as short
Injective XAU/USDC PERP	+0.0033%	1h	4,350.4	+0.997%	$619	$54	52x	as long as short
Vest GC-PERP	+0.0046%	1h	4,343.5	+0.837%	—	$1.0M	25x	as long as short
QFEX GOLD-USD	+0.0046%	1h	4,309.1	+0.038%	$6.6M	$3.1M	20x	as long as short
tradeXYZ xyz:GOLD	+0.0050%	1h	4,310.7	+0.075%	$291.2M	$54.5M	25x	as long as short
Polymarket Perps GOLD-USD	+0.0050%	1h	4,310.3	+0.066%	$4.3M	$1.8M	20x	as long as short
Ondo Perps XAU-USD.Plong	+0.0050%	1h	4,307.5	long leg	$15.0M	$56.0M	25x
Coinbase International GOLD-PERP-INTX	+0.0056%	1h	4,306.7	−0.018%	$2.0M	$5.1M	25x	as long as short
Paradex XAU-USD-PERP	+0.0062%	8h	4,309.8	+0.054%	$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	+0.166%	$73.9M	$271.4M	20x	as long as short
Lighter XAU	+0.0080%	1h	4,313.7	+0.144%	$20.3M	$29.6M	25x	as long as short
Hotstuff GOLD-PERP	+0.0080%	1h	4,306.8	−0.015%	$32K	—	25x	as long as short
Extended XAU-USD	+0.0088%	1h	4,308.3	+0.020%	$13.0M	$36.1M	25x	as long as short
StandX XAU-USD	+0.0093%	1h	4,311.3	+0.089%	$3.8M	$4.5M	40x	as long as short
Phoenix GOLD	+0.0095%	1h	4,301.6	−0.136%	$42K	$86K	25x	as long as short
Pacifica XAU	+0.0100%	1h	4,306.5	−0.023%	$1.4M	$1.2M	10x	as long as short
ApeX Omni XAUUSDT	+0.0100%	1h	4,301.8	−0.133%	$273K	$219K	50x	as long as short
Lighter RH XAU	+0.0104%	1h	4,314.9	+0.172%	$19.8M	$40.6M	25x	as long as short
Aevo XAU-PERP	+0.0112%	1h	4,310.3	+0.066%	$160K	$87	10x	as long as short
Kalshi KXGOLDPERP	+0.0114%	24h	4,313.8	+0.147%	$3.6M	$47.1M	15x	as long as short
Variational Omni XAU	+0.0115%	4h	4,311.4	+0.092%	$46.9M	$29.9M	—	as long as short
edgeX XAUUSDC	+0.0117%	4h	4,300.7	−0.156%	$30.0M	$62.5M	50x	as long as short
MEXC XAU_USDTshort	+0.0122%	4h	4,314.1	+0.153%	$356.3M	$348.6M	1000x
RISEx XAU/USDC	+0.0126%	1h	4,312	+0.106%	$4.5M	$13.4M	25x	as long as short
Binance XAUUSDT	+0.0129%	4h	4,313.2	+0.134%	$437.4M	$2.26B	100x	as long as short
Bybit XAUUSDT	+0.0145%	4h	4,314	+0.152%	$79.8M	$161.4M	150x	as long as short
Deribit GOLD_USDC-PERPETUAL	+0.0168%	1h	4,310.9	+0.080%	$133K	$832K	25x	as long as short
Gate XAU_USDT	+0.0178%	4h	4,316.6	+0.213%	$302.0M	$436.6M	100x	as long as short
GRVT XAU_USDT_Perp	+0.0188%	4h	4,306.4	−0.025%	$1.4M	$3.1M	25x	as long as short
Bullet GOLD-USD	+0.0197%	1h	4,311.9	+0.103%	$58K	$77K	10x	as long as short
Bitget XAUUSDT	+0.0202%	4h	4,314.5	+0.163%	$70.4M	$127.9M	100x	as long as short
OKX XAU-USDT-SWAP	+0.0251%	8h	4,313.6	+0.143%	$170.8M	$341.5M	100x	as long as short
Kraken Futures PF_XAUUSD	+0.0328%	1h	4,309.2	+0.041%	$573K	$139K	25x	as long as short
BloFin XAU-USDT	+0.0394%	4h	4,311.7	+0.099%	$16.4M	$5.2M	100x	as long as short
GMX GOLD/USD [ETH-USDC]	L +0.0465% / S −0.0313%	1h	4,311.5	+0.093%	$254K	—	111x	as long as short
Phemex XAUUSDT	+0.0473%	4h	4,312.9	+0.126%	$2.2M	$959K	100x	as long as short
HTX XAU-USDT	+0.1204%	4h	4,317.3	+0.228%	$3.2M	$6.9M	75x	as long as short
Bluefin GOLD-PERP	+0.2382%	1h	4,305.5	−0.046%	$25K	$1K	20x	as long as short