Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.031%

Price spread now: Coinbase International against Bybit+0.092%7-day average −0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$270.272% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now +0.092%, 7d avg −0.036%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.128% dearer against Bybit than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of −0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	65.230	0	get 0.0000% / 4h	1h 03m	$27.7M	$39.5M	150x
Short	Coinbase International SILVER-PERP-INTX	65.290	0.0120	get 0.0015% / 1h	3m 37s	$1.6M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.092%Rate

Funding earned: $25.2
Price spread: +0.092% → −0.036%: $12.84
Slippage, 4 orders: −$6.22
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $10.82
Costs to cover: 0.272%
Break-even: 4.0 days

Slippage from Bybit: live order book, 5 min ago; Coinbase International: live order book, 5 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 Bybit live order book, 5 min ago	0.76 bp	6.3 bp −$6	7.1 bp −$71	12.1 bp −$1,208	51.4 bp −$25.7K
Sell Coinbase International live order book, 5 min ago	0.77 bp	7.2 bp −$7	8.2 bp −$82	doesn't fit	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
Ondo Perps XAG-USD.P	−0.0074%	1h	65.140	−0.138%	$5.6M	$9.6M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.174	−0.086%	$12K	$5K	5x	as long as short
Bybit XAGUSDTlong	0.0000%	4h	65.230	long leg	$27.7M	$39.5M	150x
SunX XAG-USDT	0.0000%	4h	65.270	+0.061%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.330	+0.153%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.300	+0.107%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.209	−0.032%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.240	+0.015%	$140.8M	$184.5M	100x	as long as short
Variational Omni XAG	+0.0031%	4h	65.344	+0.174%	$5.5M	$9.3M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.218	−0.019%	$4.6M	$9.8M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.165	−0.100%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.794%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.280	+0.077%	$785K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0040%	4h	65.234	+0.006%	$2.7M	$975K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.646	+0.638%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.220	−0.015%	$151K	$1.4M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.245	+0.023%	$3.8M	$854K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.210	−0.031%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.204	−0.040%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.220	−0.015%	$116.4M	$158.0M	1000x	as long as short
Binance XAGUSDT	+0.0054%	4h	65.228	−0.004%	$191.2M	$762.8M	100x	as long as short
edgeX XAGUSDC	+0.0057%	4h	65.322	+0.141%	$665K	$313K	30x	as long as short
tradeXYZ xyz:SILVER	+0.0059%	1h	65.197	−0.051%	$170.2M	$83.0M	25x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.238	+0.013%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.287	+0.087%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.265	+0.054%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0078%	24h	65.260	+0.046%	$473K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.168	−0.095%	$468K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.190	−0.061%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.310	+0.123%	$112K	$19K	50x	as long as short
Hotstuff SILVER-PERP	+0.0104%	1h	65.212	−0.028%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0120%	1h	65.290	+0.092%	$1.6M	$1.4M	20x
GRVT XAG_USDT_Perp	+0.0138%	4h	65.328	+0.151%	$391K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0151%	1h	65.177	−0.082%	$1.2M	$5.1M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.222	−0.013%	$5.3M	$11.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0160%	1h	65.300	+0.107%	$20K	$19K	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.220	−0.015%	$23.7M	$46.2M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0183%	8h	65.230	0.000%	$28.0M	$70.7M	50x	as long as short
Bullet SILVER-USD	+0.0203%	1h	65.281	+0.079%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0210%	1h	65.250	+0.031%	$65K	$384K	20x	as long as short
Aftermath Perps XAGUSD	+0.0214%	1h	65.291	+0.094%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0222%	4h	65.340	+0.169%	$2.6M	$591K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.275	+0.069%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.252	+0.034%	$1.0M	$877K	25x	as long as short