Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.033%

Price spread now: Variational Omni against Bullet+0.021%7-day average — · you sell dearer than you buy

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

Long on Bullet Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.021% dearer against Bullet than usual: you sell high and buy low (spread +0.021% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SILVER-USD	65.330	0.0203	pay 0.0025% / 1h	5m 24s	$44K	$76K	10x
Short	Variational Omni XAG	65.344	0.0031	get 0.0015% / 4h	1h 05m	$5.5M	$9.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.021%Rate

Funding earned: −$36.1
Price spread: +0.021% → 0.000%: $2.1
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$42
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Bullet: no order-book sample; Variational Omni: RFQ quote, 4 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 Variational Omni RFQ quote, 4 min ago	2.58 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit

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
Ondo Perps XAG-USD.P	−0.0076%	1h	65.220	−0.168%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0008%	1h	65.326	−0.006%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.303	−0.041%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.330	0.000%	$27.8M	$39.5M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.330	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.400	+0.107%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.340	+0.016%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.261	−0.106%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.340	+0.016%	$141.0M	$184.3M	100x	as long as short
Variational Omni XAGshort	+0.0031%	4h	65.344	+0.021%	$5.5M	$9.3M	—

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.325	−0.007%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.262	−0.104%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.638%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0040%	4h	65.329	−0.001%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.360	+0.046%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.739	+0.626%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.310	−0.030%	$152K	$1.4M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.292	−0.058%	$3.8M	$854K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.277	−0.081%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.307	−0.036%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.320	−0.015%	$117.2M	$157.9M	1000x	as long as short
Binance XAGUSDT	+0.0056%	4h	65.325	−0.007%	$191.4M	$762.8M	100x	as long as short
edgeX XAGUSDC	+0.0058%	4h	65.376	+0.070%	$665K	$312K	30x	as long as short
tradeXYZ xyz:SILVER	+0.0058%	1h	65.289	−0.063%	$170.2M	$82.9M	25x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.333	+0.004%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.287	−0.066%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.313	−0.025%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0078%	24h	65.314	−0.024%	$469K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.266	−0.097%	$468K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.290	−0.061%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.340	+0.016%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.290	−0.061%	$1.6M	$1.4M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0136%	4h	65.371	+0.063%	$391K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0148%	1h	65.282	−0.073%	$1.2M	$5.1M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.328	−0.003%	$5.3M	$11.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0160%	1h	65.300	−0.046%	$20K	$19K	10x	as long as short
Bitget XAGUSDT	+0.0172%	4h	65.320	−0.015%	$23.8M	$46.3M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0183%	8h	65.330	0.000%	$28.0M	$70.7M	50x	as long as short
Bullet SILVER-USDlong	+0.0203%	1h	65.330	long leg	$44K	$76K	10x
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.330	0.000%	$65K	$383K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.333	+0.005%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0224%	4h	65.380	+0.077%	$2.6M	$591K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.325	−0.007%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.314	−0.024%	$917K	$748K	25x	as long as short