Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h −0.042%

Price spread now: Hotstuff against Bybit−0.052%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Hotstuff

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—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.052% cheaper against Bybit than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 2.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	65.380	0	get 0.0000% / 4h	1h 32m	$28.3M	$39.4M	150x
Short	Hotstuff SILVER-PERP	65.346	0.0064	get 0.0008% / 1h	32m 00s	$35K	$21K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.052%Rate

Funding earned: $13.44
Price spread: −0.052% → 0.000%: −$5.2
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$7.76
Costs to cover: 0.160%
Break-even: 11.0 days

Slippage unknown: Bybit: live order book, 7 min ago; Hotstuff: no order-book sample. 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 Bybit live order book, 7 min ago	0.76 bp	6.3 bp −$6	7.4 bp −$74	13.8 bp −$1,379	57.4 bp −$28.7K
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Hibachi XAG/USDT-P	−0.0160%	1h	65.313	−0.103%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0086%	1h	65.230	−0.229%	$5.6M	$9.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.130%	$12K	$5K	5x	as long as short
Bybit XAGUSDTlong	0.0000%	4h	65.380	long leg	$28.3M	$39.4M	150x
SunX XAG-USDT	0.0000%	4h	65.380	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.410	+0.046%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.380	0.000%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.308	−0.110%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0020%	4h	65.380	0.000%	$141.3M	$181.7M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.361	−0.029%	$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	65.312	−0.104%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.560%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.390	+0.015%	$787K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0044%	4h	65.350	−0.046%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.781	+0.613%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.340	−0.061%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.336	−0.067%	$170.3M	$83.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.322	−0.089%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.310	−0.107%	$3K	$6K	20x	as long as short
Variational Omni XAG	+0.0056%	4h	65.364	−0.025%	$5.5M	$9.4M	—	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	65.349	−0.047%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.369	−0.017%	$1.3M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.317	−0.096%	$56K	$31K	25x	as long as short
Hotstuff SILVER-PERPshort	+0.0064%	1h	65.346	−0.052%	$35K	$21K	20x
MEXC SILVER_USDT	+0.0068%	4h	65.350	−0.046%	$116.5M	$157.3M	1000x	as long as short
Binance XAGUSDT	+0.0069%	4h	65.368	−0.018%	$190.2M	$762.9M	100x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.354	−0.040%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.326	−0.083%	$480K	$30.8M	8.1x	as long as short
edgeX XAGUSDC	+0.0084%	4h	65.366	−0.021%	$665K	$313K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.315	−0.099%	$466K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.330	−0.076%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.330	−0.076%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0120%	4h	65.406	+0.040%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	0.000%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0126%	1h	65.310	−0.108%	$1.2M	$5.5M	10x	as long as short
Lighter XAG	+0.0128%	1h	65.369	−0.017%	$5.4M	$11.4M	25x	as long as short
Bullet SILVER-USD	+0.0173%	1h	65.371	−0.013%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0182%	4h	65.370	−0.015%	$23.8M	$46.4M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0186%	8h	65.370	−0.015%	$27.9M	$71.0M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.350	−0.046%	$65K	$377K	20x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.342	−0.058%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.365	−0.023%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0277%	4h	65.400	+0.031%	$2.6M	$610K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.329	−0.078%	$915K	$746K	25x	as long as short