Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0175%/8h= +19.1% APRpaid last 24h −0.010%

Price spread now: Bybit against ApeX Omni+0.076%109s7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.545% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.168%−$17 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.076%, 7d avg +0.023%

Together, before fees−0.229%−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bybit is 0.053% dearer against ApeX Omni than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.023%. Mind the row above: over the last 7 days funding on this pair cost −0.168%, so the current rate has only just turned in your favour. The two prices were read 109 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAGUSDT	65.590	0.0100	pay 0.0013% / 1h	59m 39s	$112K	$19K	50x
Short	Bybit XAGUSDT	65.640	0.0275	get 0.0137% / 4h	2h 59m	$30.7M	$45.0M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against ApeX Omni. 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 ApeX OmnibpFee BybitbpOrdersPrice spread, now +0.076%Rate

Funding earned: $36.68
Price spread: +0.076% → +0.023%: $5.29
Slippage, 4 orders: −$33.52
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$12.55
Costs to cover: 0.545%
Break-even: 9.4 days

Slippage from ApeX Omni: live order book, 31 min ago; Bybit: 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 ApeX Omni live order book, 31 min ago	6.95 bp	19.1 bp −$19	64.4 bp −$644	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	0.76 bp	7.4 bp −$7	8.8 bp −$88	14.7 bp −$1,471	83.0 bp −$41.5K

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
Ondo Perps XAG-USD.P	−0.0040%	1h	65.530	−0.091%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.533	−0.087%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.670	+0.122%	$138.2M	$195.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.640	+0.076%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.670	+0.122%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.640	+0.076%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.002%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.602	+0.018%	$4.5M	$9.2M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.594	+0.006%	$5.1M	$11.9M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.506%	$11K	$240	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	65.560	−0.046%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.056	+0.710%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	65.620	+0.046%	$436K	$1.5M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.605	+0.023%	$174.4M	$92.3M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.611	+0.032%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.583	−0.011%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.620	+0.046%	$77K	$434K	20x	as long as short
Variational Omni XAG	+0.0076%	4h	65.573	−0.026%	$5.4M	$9.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0078%	8h	65.608	+0.027%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	65.600	+0.015%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0090%	24h	65.564	−0.040%	$660K	$36.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.581	−0.014%	$467K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.610	+0.030%	$25.4M	$4.6M	75x	as long as short
ApeX Omni XAGUSDTlong	+0.0100%	1h	65.590	long leg	$112K	$19K	50x
Phoenix SILVER	+0.0111%	1h	65.549	−0.063%	$56K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	65.592	+0.003%	$35K	$22K	20x	as long as short
MEXC SILVER_USDT	+0.0120%	4h	65.620	+0.046%	$114.6M	$156.3M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.637	+0.072%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0122%	4h	65.620	+0.046%	$195.4M	$822.4M	100x	as long as short
Aster XAGUSDT	+0.0135%	4h	65.639	+0.075%	$2.7M	$1.1M	100x	as long as short
edgeX XAGUSDC	+0.0143%	4h	65.604	+0.022%	$668K	$314K	30x	as long as short
Nado XAG-PERP	+0.0148%	1h	65.582	−0.012%	$1.3M	$4.1M	10x	as long as short
RISEx XAG/USDC	+0.0158%	1h	65.645	+0.083%	$1.2M	$4.9M	20x	as long as short
Aftermath Perps XAGUSD	+0.0196%	1h	65.527	−0.095%	$79K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0211%	8h	65.630	+0.061%	$28.3M	$81.1M	50x	as long as short
Lighter XAG	+0.0216%	1h	65.622	+0.049%	$5.1M	$11.2M	25x	as long as short
Bitget XAGUSDT	+0.0232%	4h	65.640	+0.076%	$23.0M	$49.3M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.585	−0.008%	$93K	—	111x	as long as short
Bybit XAGUSDTshort	+0.0275%	4h	65.640	+0.076%	$30.7M	$45.0M	150x
Bullet SILVER-USD	+0.0304%	1h	65.643	+0.081%	$45K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0350%	4h	65.590	0.000%	$384K	$1.6M	25x	as long as short
BloFin XAG-USDT	+0.0364%	4h	65.580	−0.015%	$2.7M	$710K	100x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	65.523	−0.102%	$21K	$12K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0415%	1h	65.612	+0.033%	$1.0M	$893K	25x	as long as short