Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0228%/8h= −24.9% APRpaid last 24h −0.048%

Price spread now: Phemex against Aftermath Perps+0.076%7-day average — · you sell dearer than you buy

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

Long on Aftermath Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 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 0.076% dearer against Aftermath Perps than usual: you sell high and buy low (spread +0.076% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aftermath Perps XAGUSD	66.180	0.0228	pay 0.0028% / 1h	8m 31s	$80K	$37K	10x
Short	Phemex XAGUSDT	66.230	0	get 0.0000% / 4h	1h 08m	$1.5M	$252K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Aftermath 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 Aftermath PerpsbpFee PhemexbpOrdersPrice spread, now +0.076%Rate

Funding earned: −$47.79
Price spread: +0.076% → 0.000%: $7.59
Slippage, 4 orders: no order book: not counted
Fee Aftermath Perps: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$61.2
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Aftermath Perps: no order-book sample; Phemex: 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 Aftermath Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 4 min ago	0.75 bp	11.1 bp −$11	14.5 bp −$145	doesn't fit	doesn't fit

Aftermath 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.

XAG on 44 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
dYdX XAG-USD	0.0000%	1h	66.142	−0.057%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.169	−0.016%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.240	+0.091%	$149.9M	$165.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.210	+0.046%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.230	+0.076%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.230	+0.076%	$1.5M	$252K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.134	−0.070%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.206	+0.039%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.151	−0.044%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.333%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.180	0.000%	$796K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.632	+0.683%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.080	−0.151%	$5.7M	$9.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.172	−0.012%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.132	−0.072%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.230	+0.076%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0066%	24h	66.168	−0.018%	$545K	$24.8M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.217	+0.056%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.178	−0.003%	$165.9M	$73.5M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.170	−0.015%	$471K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.015%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.220	+0.061%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0125%	4h	66.190	+0.015%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0125%	4h	66.240	+0.091%	$26.9M	$36.1M	150x	as long as short
Paradex XAG-USD-PERP	+0.0127%	8h	66.210	+0.045%	$30K	$1K	5x	as long as short
BloFin XAG-USDT	+0.0134%	4h	66.210	+0.046%	$2.6M	$552K	100x	as long as short
Variational Omni XAG	+0.0174%	4h	66.172	−0.012%	$5.6M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.201	+0.033%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.227	+0.071%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.213	+0.050%	$5.2M	$10.6M	25x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.220	+0.061%	$106.2M	$154.0M	1000x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.227	+0.072%	$191.9M	$705.9M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.180	0.000%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0199%	4h	66.176	−0.006%	$671K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.230	+0.076%	$27.7M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0222%	1h	66.169	−0.016%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSDlong	+0.0228%	1h	66.180	long leg	$80K	$37K	10x
Bitget XAGUSDT	+0.0240%	4h	66.220	+0.061%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0254%	4h	66.225	+0.068%	$390K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0272%	1h	66.204	+0.037%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.150	−0.045%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.180	0.000%	$57K	$329K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0358% / S −0.0384%	1h	66.205	+0.038%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.180	+0.001%	$913K	$674K	25x	as long as short