Funding arb · Price arb / RWA

XAG

RWAAll XAG markets →

LONGAvantis▾KuCoin 0.0000%SunX 0.0000%HTX 0.0000%Injective +0.0033%StandX +0.0040%Avantis +0.0042%Vest Markets +0.0046%SoDEX +0.0050%Ondo Perps +0.0050%Kalshi +0.0062%QFEX +0.0065%Polymarket Perps +0.0079%ApeX Omni +0.0100%dYdX +0.0118%Paradex +0.0154%Aevo +0.0280%Nado +0.0289%Coinbase International +0.0296%Lighter RH +0.0312%Popdex +0.0312%Variational Omni +0.0314%Phoenix +0.0318%Pacifica +0.0323%MEXC +0.0324%Binance +0.0326%tradeXYZ +0.0331%edgeX +0.0341%gTrade (Gains Network) +0.0344%Lighter +0.0352%Aftermath Perps +0.0355%Gate +0.0364%Aster +0.0369%Bitget +0.0390%OKX +0.0408%Bybit +0.0412%BingX +0.0414%Bullet +0.0481%Phemex +0.0522%Extended +0.0536%BloFin +0.0567%Deribit +0.0578%GMX +0.0605%RISEx +0.0705%Kraken Futures +0.0739%Hibachi +0.0960%

⇄⇅

SHORTGRVT▾Hibachi +0.0960%GMX −0.0799%Kraken Futures +0.0739%GRVT +0.0726%RISEx +0.0705%Deribit +0.0578%BloFin +0.0567%Extended +0.0536%Phemex +0.0522%Bullet +0.0481%BingX +0.0414%Bybit +0.0412%OKX +0.0408%Bitget +0.0390%Aster +0.0369%Gate +0.0364%Aftermath Perps +0.0355%Lighter +0.0352%edgeX +0.0341%tradeXYZ +0.0331%Binance +0.0326%MEXC +0.0324%Pacifica +0.0323%Phoenix +0.0318%Variational Omni +0.0314%Lighter RH +0.0312%Popdex +0.0312%Coinbase International +0.0296%Nado +0.0289%Aevo +0.0280%Paradex +0.0154%dYdX +0.0118%gTrade (Gains Network) −0.0117%ApeX Omni +0.0100%Polymarket Perps +0.0079%QFEX +0.0065%Kalshi +0.0062%Ondo Perps +0.0050%SoDEX +0.0050%Vest Markets +0.0046%StandX +0.0040%Injective +0.0033%KuCoin 0.0000%SunX 0.0000%HTX 0.0000%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	AvantisXAG/USD	60.404	L +0.0042S +0.0026	pay 0.0005% / 1h	0m 42s	$1.4M	—	75x	Long Avantis
SHORT	GRVTXAG_USDT_Perp	60.571	+0.0726	get 0.0363% / 4h	3h 00m	$501K	$1.6M	25x	Short GRVT

Price gap+0.276%61s

Funding gap+0.0684% /8h

Both sides work: funding pays +$21 a day on $10k, and the gap is 0.080% above its 7d average: +$8 more if it goes back.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid +0.394% in total, about +0.0188%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

PRICE SPREAD · 7D

Now+0.276%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

AvantisGRVT

XAG on 46 exchanges

lowest funding first

Before you open

2 ok · 3 to watch

• i
  Note: Order book unknown—

  No order-book sample for Avantis: its slippage is not counted.
• i
  Note: Margin at max leverage$133 + $400

  Avantis 75x, GRVT 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• !
  Watch: Payment intervals differ1h / 4h

  Payments land at different times. Close right after the slower leg pays.

  Long Avantis · 1h−$1.27

  Short GRVT · 4h+$21.78

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: +$20.51Long Avantis: 24 payments, −$1.27; short GRVT: 6 payments, +$21.78.
• !
  Watch: Prices read 61 s apart+0.276% vs +0.196%

  Part of this gap may be the market moving.
• !
  Watch: Short leg is thinner$501K vs $1.4M OI

  GRVT sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legAvantis Season 3 · GRVT points

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legAvantis No · GRVT No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned+0.0188%/8h × 21 periods+$39.39

Price spreadprices read too far apart to compare—

Slippage, 4 ordersno data for Avantis—

Fee Avantis bp × 2 orders−$8.00

Fee GRVT bp × 2 orders−$9.00

Net, fees only · 7 days · $10k+$22.39

price spread not counted: prices read too far apart

Costs to cover0.170%Break-even3.0 days

Slippage: Avantis: no order-book sample; GRVT: live order book, 4 min ago

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGAvantis—————

SELL · SHORTGRVT0.827.0 bp−$78.5 bp−$8541.6 bp−$4,158doesn’t fit

Closing costs about the same again.
Avantis: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

XAG news

posts that mention XAG or Silver, from every exchangeSearch all news →

09-30 18:40	Hotstuff	Listing	SILVER-PERP no longer reported ($XAG) seen by our collector
09-30 07:14	Aster	Listing	new market SIUSDT ($XAG) seen by our collector
09-30 03:46	Gate	Listing	new market SI_USDT ($XAG) seen by our collector
09-28 15:17	Ondo Perps	Product	Introducing spot trading for @Ondo Stocks. This brings the basis trade onto a single platform: 1. Buy Ondo Stocks 2. Deploy them as collateral 3. Short the corresponding perp to collect funding Because the spot holding doubles as long exposure and collateral, delta-neutral strategies become more capital efficient. Running both legs on a single platform also eliminates the risks of managing positions across separate platforms. Starting with 12 assets: ✅ Silver (SLVon) ✅ Gold (GLDon) ✅ Micron (MUon) ✅ Tesla (TSLAon) ✅ Circle (CRCLon) ✅ NVIDIA (NVDAon) ✅ SpaceX (SPCXon) ✅ Sandisk (SNDKon) ✅ Alphabet (GOOGLon) ✅ S&P 500 ETF (SPYon) ✅ Invesco QQQ (QQQon) ✅ Roundhill Memory ETF (DRAMon) ✅ & more to come For the first time, Ondo Stocks are available for permissionless trading (outside the US) on a spot central limit order book. Ondo Stocks opened access to tokenized equities, supporting them as collateral made those holdings productive, and now, spot trading on Ondo Perps brings the entire workflow to a single platform. Another step closer to onchain prime brokerage. To celebrate the launch, spot trading is fee-free for the first 30 days. Build a basis trade → @OndoPerps on X ↗
09-26 13:03	MEXC	Listing	new market SI_USDT ($XAG) seen by our collector
09-24 04:18	BingX	Listing	new market SI-USDT ($XAG) seen by our collector