Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h +0.037%

Price spread now: Bullet against Binance−0.043%53s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Bullet

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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Bullet is 0.043% cheaper against Binance than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 53 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	Binance XAGUSDT	66.080	0.0051	pay 0.0026% / 4h	2h 03m	$190.5M	$784.3M	100x
Short	Bullet SILVER-USD	66.051	0	get 0.0000% / 1h	3m 33s	$44K	$74K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Binance. 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 BinancebpFee BulletbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$10.76
Price spread: −0.043% → 0.000%: −$4.31
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Bullet: 4 bp × 2 orders: −$8
Net: −$33.08
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; Bullet: no order-book sample. 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 Binance live order book, 10 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	11.5 bp −$1,150	27.2 bp −$13.6K
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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	−0.0064%	1h	66.018	−0.094%	$35K	$21K	20x	as long as short
Nado XAG-PERP	−0.0004%	1h	66.067	−0.020%	$1.3M	$6.5M	10x	as long as short
dYdX XAG-USD	0.0000%	1h	66.057	−0.035%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.070	−0.015%	$25.7M	$35.8M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.070	−0.015%	$146.9M	$185.8M	100x	as long as short
GRVT XAG_USDT_Perp	0.0000%	4h	66.047	−0.051%	$392K	$1.6M	25x	as long as short
Bullet SILVER-USDshort	0.0000%	1h	66.051	−0.043%	$44K	$74K	10x
SunX XAG-USDT	0.0000%	4h	66.060	−0.030%	$2K	$3.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.070	−0.015%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.070	−0.015%	$1.5M	$248K	100x	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	+0.0011%	1h	66.026	−0.082%	$79K	$40K	10x	as long as short
Aster XAGUSDT	+0.0013%	4h	66.040	−0.061%	$2.8M	$1.1M	100x	as long as short
Bitget XAGUSDT	+0.0016%	4h	66.080	0.000%	$23.6M	$51.9M	100x	as long as short
Lighter XAG	+0.0032%	1h	66.022	−0.088%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.021	−0.089%	$4.4M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.026	−0.082%	$5.3M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.484%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.030	−0.076%	$790K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.570	+0.742%	—	—	25x	as long as short
BloFin XAG-USDT	+0.0046%	4h	65.990	−0.136%	$2.6M	$1.2M	100x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.018	−0.094%	$164.1M	$95.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.019	−0.092%	$3.9M	$742K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.013	−0.101%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.030	−0.076%	$5.4M	$9.7M	25x	as long as short
Binance XAGUSDTlong	+0.0051%	4h	66.080	long leg	$190.5M	$784.3M	100x
MEXC SILVER_USDT	+0.0052%	4h	66.080	0.000%	$122.7M	$192.7M	1000x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0053%	1h	66.070	−0.015%	$76K	$347K	20x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	66.004	−0.115%	$637K	$21.7M	8.1x	as long as short
Variational Omni XAG	+0.0057%	4h	66.002	−0.118%	$5.3M	$11.3M	—	as long as short
Aevo XAG-PERP	+0.0072%	1h	66.033	−0.071%	$47K	—	10x	as long as short
Phoenix SILVER	+0.0073%	1h	66.022	−0.088%	$56K	$26K	25x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.040	−0.061%	$143K	$2.8M	20x	as long as short
edgeX XAGUSDC	+0.0090%	4h	66.002	−0.117%	$670K	$315K	30x	as long as short
Paradex XAG-USD-PERP	+0.0097%	8h	66.060	−0.030%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.034	−0.070%	$472K	$645K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.040	−0.061%	$24.2M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.030	−0.076%	$112K	$85K	50x	as long as short
OKX XAG-USDT-SWAP	+0.0140%	8h	66.080	0.000%	$27.4M	$69.9M	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.040	−0.061%	$1.9M	$1.2M	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0359% / S −0.0369%	1h	66.065	−0.023%	$103K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.086	+0.009%	$1.3M	$4.3M	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0614%	1h	66.035	−0.069%	$775K	$612K	25x	as long as short