Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h +0.046%

Price spread now: Deribit against Binance−0.031%7-day average −0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.031%, 7d avg −0.010%

Together, before fees+0.148%+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.020% cheaper against Binance than usual: you would sell low and buy high (spread −0.031% now, against its 7-day average of −0.010%). If the spread goes back, that is −$2 on $10k: about 11 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	65.320	0.0056	pay 0.0028% / 4h	1h 05m	$191.4M	$762.8M	100x
Short	Deribit SILVER_USDC-PERPETUAL	65.300	0.0210	get 0.0026% / 1h	5m 14s	$65K	$384K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.031%Rate

Funding earned: $32.34
Price spread: −0.031% → −0.010%: −$2.04
Slippage, 4 orders: −$7.58
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $5.72
Costs to cover: 0.246%
Break-even: 5.8 days

Slippage from Binance: live order book, 9 min ago; Deribit: live order book, 38 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 Binance live order book, 9 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	8.1 bp −$805	18.1 bp −$9,055
Sell Deribit live order book, 38 min ago	0.76 bp	4.3 bp −$4	6.4 bp −$64	doesn't fit	doesn't fit

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	−0.0076%	1h	65.220	−0.153%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0008%	1h	65.326	+0.009%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.303	−0.026%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.320	0.000%	$27.8M	$39.5M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.320	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.400	+0.122%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.340	+0.031%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.261	−0.091%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.340	+0.031%	$141.0M	$184.3M	100x	as long as short
Variational Omni XAG	+0.0031%	4h	65.344	+0.036%	$5.5M	$9.3M	—	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.310	−0.015%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.260	−0.092%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.653%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0040%	4h	65.323	+0.005%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.360	+0.061%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.739	+0.641%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.310	−0.015%	$152K	$1.4M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.292	−0.043%	$3.8M	$854K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.256	−0.098%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.307	−0.021%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.310	−0.015%	$117.2M	$157.9M	1000x	as long as short
Binance XAGUSDTlong	+0.0056%	4h	65.320	long leg	$191.4M	$762.8M	100x
edgeX XAGUSDC	+0.0058%	4h	65.376	+0.085%	$665K	$312K	30x	as long as short
tradeXYZ xyz:SILVER	+0.0058%	1h	65.289	−0.047%	$170.2M	$82.9M	25x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.333	+0.019%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.287	−0.051%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.313	−0.010%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0078%	24h	65.290	−0.046%	$469K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.266	−0.082%	$468K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.280	−0.061%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.340	+0.031%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.290	−0.046%	$1.6M	$1.4M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0136%	4h	65.371	+0.079%	$391K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0148%	1h	65.282	−0.058%	$1.2M	$5.1M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.314	−0.009%	$5.3M	$11.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0160%	1h	65.300	−0.031%	$20K	$19K	10x	as long as short
Bitget XAGUSDT	+0.0172%	4h	65.320	0.000%	$23.8M	$46.3M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0183%	8h	65.320	0.000%	$28.0M	$70.7M	50x	as long as short
Bullet SILVER-USD	+0.0203%	1h	65.330	+0.015%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0210%	1h	65.300	−0.031%	$65K	$384K	20x
Aftermath Perps XAGUSD	+0.0210%	1h	65.312	−0.013%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0222%	4h	65.340	+0.031%	$2.6M	$591K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.325	+0.008%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.304	−0.024%	$934K	$770K	25x	as long as short