Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h −0.033%

Price spread now: Phemex against Aevo+0.032%7-day average — · you sell dearer than you buy

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

Long on Aevo Short on Phemex

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

The price spread pays, funding is against you. Phemex is 0.032% dearer against Aevo than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 40 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aevo XAG-PERP	66.089	0.0064	pay 0.0008% / 1h	59m 36s	$47K	—	10x
Short	Phemex XAGUSDT	66.110	0	get 0.0000% / 4h	1h 59m	$1.5M	$248K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aevo. 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 AevobpFee PhemexbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$13.44
Price spread: +0.032% → 0.000%: $3.19
Slippage, 4 orders: no order book: not counted
Fee Aevo: 8 bp × 2 orders: −$16
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$38.25
Costs to cover: 0.280%
Break-even: never at this rate

Slippage unknown: Aevo: no order-book sample; Phemex: live order book, 3 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 Aevo no order-book sample	—	—	—	—	—
Sell Phemex live order book, 3 min ago	1.51 bp	17.3 bp −$17	30.3 bp −$303	doesn't fit	doesn't fit

Aevo: 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.

XAG on 42 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
Hotstuff SILVER-PERP	−0.0120%	1h	66.037	−0.079%	$35K	$21K	20x	as long as short
Nado XAG-PERP	−0.0001%	1h	66.081	−0.011%	$1.3M	$6.5M	10x	as long as short
dYdX XAG-USD	0.0000%	1h	66.057	−0.048%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.150	+0.092%	$25.5M	$35.8M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.117	+0.042%	$1.3M	$4.3M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.080	−0.013%	$146.9M	$170.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.100	+0.017%	$2K	$3.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.062%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.110	+0.032%	$1.5M	$248K	100x
Bullet SILVER-USD	0.0000%	1h	66.106	+0.025%	$44K	$74K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps XAGUSD	+0.0010%	1h	66.042	−0.071%	$79K	$40K	10x	as long as short
Bitget XAGUSDT	+0.0012%	4h	66.090	+0.002%	$23.6M	$49.6M	100x	as long as short
Aster XAGUSDT	+0.0014%	4h	66.079	−0.015%	$2.8M	$1.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0016%	4h	66.084	−0.007%	$392K	$1.6M	25x	as long as short
Lighter XAG	+0.0032%	1h	66.036	−0.081%	$5.1M	$10.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.034	−0.082%	$4.4M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.038	−0.077%	$5.3M	$14.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.471%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.030	−0.089%	$790K	$2.8M	40x	as long as short
Variational Omni XAG	+0.0045%	4h	66.103	+0.021%	$5.3M	$11.1M	—	as long as short
Vest SI-PERP	+0.0046%	1h	66.535	+0.675%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.043	−0.069%	$3.9M	$742K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.020	−0.104%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.040	−0.074%	$5.4M	$9.7M	25x	as long as short
MEXC SILVER_USDT	+0.0052%	4h	66.080	−0.013%	$122.1M	$179.5M	1000x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	66.054	−0.053%	$638K	$21.7M	8.1x	as long as short
Binance XAGUSDT	+0.0056%	4h	66.150	+0.092%	$190.3M	$781.4M	100x	as long as short
edgeX XAGUSDC	+0.0057%	4h	66.096	+0.011%	$670K	$316K	30x	as long as short
BloFin XAG-USDT	+0.0058%	4h	66.050	−0.059%	$2.6M	$1.2M	100x	as long as short
Aevo XAG-PERPlong	+0.0064%	1h	66.089	long leg	$47K	—	10x
Phoenix SILVER	+0.0073%	1h	66.019	−0.106%	$56K	$26K	25x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.090	+0.002%	$143K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0086%	1h	66.046	−0.065%	$163.7M	$95.8M	25x	as long as short
Paradex XAG-USD-PERP	+0.0100%	8h	66.091	+0.003%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.057	−0.048%	$473K	$643K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.050	−0.059%	$24.2M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.080	−0.013%	$112K	$85K	50x	as long as short
OKX XAG-USDT-SWAP	+0.0142%	8h	66.120	+0.047%	$27.4M	$68.4M	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.060	−0.044%	$1.9M	$1.2M	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0359% / S −0.0369%	1h	66.105	+0.024%	$103K	—	29x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0507%	1h	66.110	+0.032%	$76K	$347K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0614%	1h	66.083	−0.010%	$776K	$610K	25x	as long as short