Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0140%/8h= −15.3% APRpaid last 24h −0.017%

Price spread now: Polymarket Perps against Binance+0.030%7-day average −0.102% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$230.233% of the position

Long on Binance Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 7 days−0.084%−$8 · spread now +0.030%, 7d avg −0.102%

Together, before fees−0.048%−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Polymarket Perps is 0.132% dearer against Binance than usual: you sell high and buy low (spread +0.030% now, against its 7-day average of −0.102%): +$13 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	66.157	0.0190	pay 0.0095% / 4h	1h 11m	$191.7M	$706.0M	100x
Short	Polymarket Perps SILVER-USD	66.177	0.0050	get 0.0006% / 1h	11m 59s	$3.9M	$672K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$29.38
Price spread: +0.030% → −0.102%: $13.19
Slippage, 4 orders: −$5.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$39.49
Costs to cover: 0.233%
Break-even: never at this rate

Slippage from Binance: live order book, 2 min ago; Polymarket Perps: live order book, 2 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, 2 min ago	0.75 bp	5.8 bp −$6	5.8 bp −$58	8.6 bp −$860	22.1 bp −$11.0K
Sell Polymarket Perps live order book, 2 min ago	1.21 bp	6.1 bp −$6	6.3 bp −$63	7.5 bp −$750	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
dYdX XAG-USD	0.0000%	1h	66.212	+0.082%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.160	+0.004%	$149.6M	$165.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	+0.095%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.220	+0.095%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.190	+0.050%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.146	−0.017%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.149	−0.013%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.092	−0.098%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.367%	$11K	$94K	52x	as long as short
Hotstuff SILVER-PERP	+0.0040%	1h	66.209	+0.078%	$35K	$21K	20x	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	66.210	+0.080%	$796K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.660	+0.760%	—	—	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	66.177	+0.030%	$3.9M	$672K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.106	−0.077%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.140	−0.026%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.210	+0.080%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0065%	24h	66.206	+0.074%	$560K	$24.8M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.217	+0.090%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0092%	1h	66.118	−0.059%	$165.7M	$73.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.172	+0.022%	$471K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.120	−0.056%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.270	+0.170%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0124%	4h	66.180	+0.034%	$26.8M	$36.1M	150x	as long as short
Paradex XAG-USD-PERP	+0.0125%	8h	66.226	+0.103%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0127%	4h	66.160	+0.004%	$2.7M	$877K	100x	as long as short
BloFin XAG-USDT	+0.0165%	4h	66.280	+0.186%	$2.6M	$552K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.202	+0.067%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0180%	4h	66.272	+0.174%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.230	+0.110%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.151	−0.010%	$5.2M	$10.5M	25x	as long as short
Binance XAGUSDTlong	+0.0190%	4h	66.157	long leg	$191.7M	$706.0M	100x
MEXC SILVER_USDT	+0.0190%	4h	66.150	−0.011%	$106.2M	$153.9M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.170	+0.019%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0202%	4h	66.279	+0.184%	$672K	$315K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0215%	8h	66.170	+0.019%	$27.7M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0219%	1h	66.183	+0.039%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0226%	1h	66.226	+0.104%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0240%	4h	66.160	+0.004%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0260%	4h	66.300	+0.216%	$390K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0270%	1h	66.226	+0.104%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.198	+0.062%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.190	+0.050%	$50K	$322K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0357% / S −0.0382%	1h	66.225	+0.102%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.172	+0.023%	$913K	$671K	25x	as long as short