Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h −0.018%

Price spread now: QFEX against Binance−0.029%7-day average −0.014% · 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−$28as in the Price arb table

costs, in and out, $10k−$260.260% of the position

Long on Binance Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.015%−$2 on $10k

Price spread, last 2 days (all we have)−0.024%−$2 · spread now −0.029%, 7d avg −0.014%

Together, before fees−0.040%−$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	66.279	0.0085	pay 0.0043% / 4h	1h 13m	$189.8M	$728.3M	100x
Short	QFEX SILVER-USD	66.260	0.0016	get 0.0002% / 1h	13m 19s	$144K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$14.46
Price spread: −0.029% → −0.014%: −$1.51
Slippage, 4 orders: −$6.04
Fee Binance: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$42.01
Costs to cover: 0.260%
Break-even: never at this rate

Slippage from Binance: live order book, 16 min ago; QFEX: 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 Binance live order book, 16 min ago	0.75 bp	5.8 bp −$6	5.8 bp −$58	8.2 bp −$817	22.2 bp −$11.1K
Sell QFEX live order book, 4 min ago	2.27 bp	7.3 bp −$7	7.3 bp −$73	8.9 bp −$887	13.0 bp −$6,502

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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.249	−0.046%	$767K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.157%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.290	+0.016%	$25.7M	$33.4M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.281	+0.003%	$1.3M	$4.2M	20x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.237	−0.064%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.270	−0.014%	$146.3M	$173.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.290	+0.016%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.290	+0.016%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.280	+0.001%	$1.5M	$249K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.203	−0.115%	$120K	—	250x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SILVER-USDshort	+0.0016%	1h	66.260	−0.029%	$144K	$2.8M	20x
Lighter RH XAG	+0.0032%	1h	66.260	−0.029%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.201	−0.118%	$5.5M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.182%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.200	−0.119%	$792K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.703	+0.639%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.244	−0.053%	$3.9M	$698K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.201	−0.118%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.180	−0.150%	$5.7M	$9.9M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	66.237	−0.064%	$165.1M	$88.4M	25x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.207	−0.109%	$583K	$21.3M	8.1x	as long as short
Variational Omni XAG	+0.0067%	4h	66.237	−0.064%	$5.5M	$10.5M	—	as long as short
Aster XAGUSDT	+0.0069%	4h	66.280	+0.001%	$2.8M	$1.0M	100x	as long as short
Bitget XAGUSDT	+0.0070%	4h	66.280	+0.001%	$24.0M	$47.8M	100x	as long as short
Phoenix SILVER	+0.0073%	1h	66.194	−0.129%	$56K	$26K	25x	as long as short
MEXC SILVER_USDT	+0.0084%	4h	66.270	−0.014%	$121.8M	$182.2M	1000x	as long as short
Binance XAGUSDTlong	+0.0085%	4h	66.279	long leg	$189.8M	$728.3M	100x
Aevo XAG-PERP	+0.0088%	1h	66.268	−0.016%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0094%	4h	66.237	−0.064%	$672K	$316K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.223	−0.085%	$474K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.250	−0.044%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.180	−0.150%	$113K	$26K	50x	as long as short
BloFin XAG-USDT	+0.0101%	4h	66.240	−0.059%	$2.5M	$846K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.220	−0.089%	$1.9M	$861K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0114%	4h	66.240	−0.059%	$390K	$1.5M	25x	as long as short
Paradex XAG-USD-PERP	+0.0117%	8h	66.260	−0.029%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0127%	1h	66.214	−0.098%	$80K	$40K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.258	−0.032%	$5.2M	$11.0M	25x	as long as short
Hibachi XAG/USDT-P	+0.0160%	1h	66.196	−0.125%	$20K	$22K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0175%	8h	66.280	+0.001%	$27.3M	$66.3M	50x	as long as short
Nado XAG-PERP	+0.0222%	1h	66.218	−0.092%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0266%	1h	66.285	+0.008%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0303% / S −0.0300%	1h	66.275	−0.006%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0505%	1h	66.260	−0.029%	$51K	$359K	20x	as long as short