Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0201%/8h= −22.0% APRpaid last 24h −0.028%

Price spread now: Binance against Bullet−0.036%7-day average — · you buy dearer than you sell

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

Long on Bullet Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 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 −$6 a day on $10k at the current rate, and Binance is 0.036% cheaper against Bullet 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.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SILVER-USD	65.143	0.0232	pay 0.0029% / 1h	20m 13s	$45K	$75K	10x
Short	Binance XAGUSDT	65.120	0.0032	get 0.0016% / 4h	20m 13s	$191.5M	$757.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Bullet. 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 BulletbpFee BinancebpOrdersPrice spread, now −0.036%Rate

Funding earned: −$42.11
Price spread: −0.036% → 0.000%: −$3.6
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Binance: 5 bp × 2 orders: −$10
Net: −$63.7
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; Binance: live order book, 9 min ago. 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 Bullet no order-book sample	—	—	—	—	—
Sell Binance live order book, 9 min ago	0.77 bp	5.8 bp −$6	5.8 bp −$58	8.9 bp −$890	21.6 bp −$10.8K

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 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
Hotstuff SILVER-PERP	−0.0056%	1h	65.059	−0.130%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0032%	1h	65.030	−0.174%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.070	−0.113%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.120	−0.036%	$27.6M	$39.3M	150x	as long as short
Variational Omni XAG	0.0000%	4h	65.124	−0.030%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.140	−0.005%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.160	+0.025%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.130	−0.021%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.043	−0.154%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.160	+0.025%	$140.6M	$180.9M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SILVER_USDT	+0.0030%	4h	65.120	−0.036%	$125.0M	$160.6M	1000x	as long as short
Binance XAGUSDTshort	+0.0032%	4h	65.120	−0.036%	$191.5M	$757.4M	100x
Lighter RH XAG	+0.0032%	1h	65.106	−0.057%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.079	−0.098%	$5.0M	$11.7M	10x	as long as short
edgeX XAGUSDC	+0.0033%	4h	65.105	−0.059%	$663K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.929%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0034%	4h	65.120	−0.036%	$2.7M	$971K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.120	−0.036%	$783K	$2.9M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.130	−0.021%	$161K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.546	+0.618%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.120	−0.036%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.112	−0.048%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.065	−0.120%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.123	−0.031%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.047	−0.148%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0062%	1h	65.114	−0.045%	$173.0M	$84.5M	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.085	−0.090%	$476K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.266%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.082	−0.094%	$463K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.100	−0.067%	$25.2M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.080	−0.097%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.148	+0.006%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDT	+0.0120%	4h	65.140	−0.005%	$2.7M	$624K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0132%	4h	65.067	−0.118%	$386K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0154%	4h	65.120	−0.036%	$23.2M	$44.9M	100x	as long as short
Nado XAG-PERP	+0.0166%	1h	65.074	−0.106%	$1.2M	$4.7M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0170%	8h	65.110	−0.051%	$28.4M	$70.4M	50x	as long as short
Lighter XAG	+0.0176%	1h	65.107	−0.056%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0195%	1h	65.107	−0.055%	$78K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.071	−0.112%	$20K	$17K	10x	as long as short
Bullet SILVER-USDlong	+0.0232%	1h	65.143	long leg	$45K	$75K	10x
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.115	−0.044%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.119	−0.038%	$1.0M	$869K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0365%	1h	65.130	−0.021%	$65K	$394K	20x	as long as short