Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0161%/8h= −17.6% APRpaid last 24h −0.051%

Price spread now: QFEX against Bitget−0.122%46s7-day average −0.051% · 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—prices read too far apart to compare

costs, in and out, $10k−$270.274% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.071%−$7 on $10k

Price spread, last 7 days+0.083%+$8 · spread now −0.122%, 7d avg −0.051%

Together, before fees+0.012%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and QFEX is 0.072% cheaper against Bitget than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.051%). Swap the legs. The two prices were read 46 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	Bitget XAGUSDT	65.460	0.0212	pay 0.0106% / 4h	2h 13m	$23.7M	$46.6M	100x
Short	QFEX SILVER-USD	65.380	0.0051	get 0.0006% / 1h	13m 47s	$156K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Bitget. 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 BitgetbpFee QFEXbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$33.77
Price spread: −0.122% → −0.051%: −$7.16
Slippage, 4 orders: −$5.35
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$68.28
Costs to cover: 0.274%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 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 Bitget live order book, 5 min ago	0.76 bp	6.8 bp −$7	8.7 bp −$87	18.1 bp −$1,806	36.4 bp −$18.2K
Sell QFEX live order book, 4 min ago	1.53 bp	6.5 bp −$7	6.5 bp −$65	8.7 bp −$868	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	65.342	−0.180%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.450	−0.015%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.510	+0.076%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.460	0.000%	$1.5M	$280K	100x	as long as short
Ondo Perps XAG-USD.P	+0.0002%	1h	65.280	−0.275%	$5.6M	$9.6M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.422	−0.058%	$118K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.399	−0.094%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.441	−0.030%	$4.7M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.400	−0.092%	$5.1M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.436%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SILVER	+0.0036%	1h	65.388	−0.110%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	−0.076%	$787K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.824	+0.556%	—	—	25x	as long as short
Gate XAG_USDT	+0.0050%	4h	65.480	+0.031%	$144.7M	$178.4M	100x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.364	−0.147%	$3.9M	$712K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.397	−0.096%	$3K	$6K	20x	as long as short
QFEX SILVER-USDshort	+0.0051%	1h	65.380	−0.122%	$156K	$2.8M	20x
Paradex XAG-USD-PERP	+0.0065%	8h	65.382	−0.119%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERP	+0.0076%	24h	65.420	−0.061%	$476K	$29.0M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0081%	1h	65.423	−0.057%	$170.6M	$82.5M	25x	as long as short
Aster XAGUSDT	+0.0090%	4h	65.461	+0.002%	$2.7M	$953K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.335	−0.192%	$466K	$626K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.420	−0.061%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.380	−0.122%	$112K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0124%	4h	65.470	+0.015%	$28.7M	$39.2M	150x	as long as short
Lighter XAG	+0.0128%	1h	65.437	−0.035%	$5.3M	$11.2M	25x	as long as short
Variational Omni XAG	+0.0131%	4h	65.414	−0.070%	$5.5M	$9.6M	—	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.453	−0.010%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0140%	4h	65.450	−0.015%	$120.9M	$160.6M	1000x	as long as short
Binance XAGUSDT	+0.0141%	4h	65.460	0.000%	$189.6M	$748.0M	100x	as long as short
edgeX XAGUSDC	+0.0156%	4h	65.411	−0.076%	$666K	$314K	30x	as long as short
Nado XAG-PERP	+0.0159%	1h	65.365	−0.145%	$1.3M	$5.6M	10x	as long as short
Hotstuff SILVER-PERP	+0.0160%	1h	65.383	−0.118%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.150	−0.474%	$1.6M	$1.3M	20x	as long as short
Hibachi XAG/USDT-P	+0.0192%	1h	65.300	−0.244%	$20K	$19K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0198%	4h	65.408	−0.080%	$385K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0209%	1h	65.390	−0.107%	$79K	$37K	10x	as long as short
Bitget XAGUSDTlong	+0.0212%	4h	65.460	long leg	$23.7M	$46.6M	100x
OKX XAG-USDT-SWAP	+0.0217%	8h	65.460	0.000%	$27.9M	$70.0M	50x	as long as short
Bullet SILVER-USD	+0.0245%	1h	65.470	+0.015%	$43K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0361%	1h	65.460	0.000%	$66K	$372K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0361%	1h	65.465	+0.008%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0382%	4h	65.390	−0.107%	$2.6M	$628K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0471%	1h	65.416	−0.068%	$913K	$756K	25x	as long as short