Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0093%/8h= +10.2% APRpaid last 24h +0.034%

Price spread now: Nado against Bybit−0.025%7-day average −0.046% · 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−$20as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Bybit Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.056%+$6 on $10k

Price spread, last 7 days−0.011%−$1 · spread now −0.025%, 7d avg −0.046%

Together, before fees+0.044%+ Points / potential airdropNado: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Nado is 0.021% dearer against Bybit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.140	0.0130	pay 0.0065% / 4h	1h 04m	$26.9M	$36.1M	150x
Short	Nado XAG-PERP	66.124	0.0223	get 0.0028% / 1h	4m 51s	$1.3M	$6.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.025%Rate

Funding earned: $19.54
Price spread: −0.025% → −0.046%: $2.1
Slippage, 4 orders: −$4.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$0.65
Costs to cover: 0.223%
Break-even: 7.2 days

Slippage from Bybit: live order book, 4 min ago; Nado: 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 Bybit live order book, 4 min ago	0.75 bp	7.5 bp −$8	9.6 bp −$96	15.6 bp −$1,560	53.2 bp −$26.6K
Sell Nado live order book, 4 min ago	0.08 bp	4.1 bp −$4	8.9 bp −$89	36.4 bp −$3,639	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	66.087	−0.080%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.130	−0.015%	$149.5M	$165.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.160	+0.030%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.200	+0.091%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.160	+0.030%	$1.5M	$255K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.110	−0.045%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.122	−0.027%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.106	−0.051%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.062	−0.117%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.393%	$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
StandX XAG-USD	+0.0040%	1h	66.160	+0.030%	$796K	$3.0M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0046%	1h	66.030	−0.166%	$5.7M	$9.7M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.602	+0.699%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.136	−0.006%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.087	−0.080%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.170	+0.045%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0066%	24h	66.121	−0.029%	$544K	$24.8M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.097	−0.065%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0093%	1h	66.077	−0.095%	$165.3M	$73.8M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.113	−0.041%	$470K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.080	−0.091%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.150	+0.015%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0124%	4h	66.130	−0.015%	$2.7M	$878K	100x	as long as short
Paradex XAG-USD-PERP	+0.0127%	8h	66.167	+0.040%	$30K	$1K	5x	as long as short
Bybit XAGUSDTlong	+0.0130%	4h	66.140	long leg	$26.9M	$36.1M	150x
Aevo XAG-PERP	+0.0176%	1h	66.155	+0.023%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.142	+0.003%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.171	+0.047%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.114	−0.040%	$5.2M	$10.6M	25x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.120	−0.030%	$106.7M	$154.1M	1000x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.117	−0.035%	$191.7M	$705.7M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.180	+0.060%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0197%	4h	66.162	+0.033%	$671K	$314K	30x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.140	0.000%	$63K	$336K	20x	as long as short
BloFin XAG-USDT	+0.0207%	4h	66.170	+0.045%	$2.6M	$551K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.130	−0.015%	$27.6M	$65.8M	50x	as long as short
Nado XAG-PERPshort	+0.0223%	1h	66.124	−0.025%	$1.3M	$6.5M	10x
Aftermath Perps XAGUSD	+0.0230%	1h	66.152	+0.019%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0240%	4h	66.110	−0.045%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0256%	4h	66.200	+0.091%	$397K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0272%	1h	66.174	+0.051%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.108	−0.049%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0360% / S −0.0387%	1h	66.175	+0.053%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0551%	1h	66.130	−0.015%	$912K	$674K	25x	as long as short