Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0208%/8h= +22.8% APRpaid last 24h +0.027%

Price spread now: RISEx against Bybit+0.035%45s7-day average −0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$220.216% of the position

Long on Bybit Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days−0.083%−$8 · spread now +0.035%, 7d avg −0.025%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and RISEx is 0.060% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.025%. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.041% in total (about 4.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.450	0	get 0.0000% / 4h	39m 59s	$25.9M	$33.7M	150x
Short	RISEx XAG/USDC	66.473	0.0208	get 0.0026% / 1h	39m 59s	$1.3M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.035%Rate

Funding earned: $43.7
Price spread: +0.035% → −0.025%: $5.97
Slippage, 4 orders: −$4.56
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee RISEx: 3 bp × 2 orders: −$6
Net: $28.11
Costs to cover: 0.216%
Break-even: 2.5 days

Slippage from Bybit: live order book, 4 min ago; RISEx: 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	6.4 bp −$6	9.8 bp −$98	16.3 bp −$1,626	66.3 bp −$33.2K
Sell RISEx live order book, 4 min ago	1.23 bp	4.2 bp −$4	5.2 bp −$52	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
dYdX XAG-USD	0.0000%	1h	66.370	−0.121%	$15K	—	5x	as long as short
Bybit XAGUSDTlong	0.0000%	4h	66.450	long leg	$25.9M	$33.7M	150x
Gate XAG_USDT	0.0000%	4h	66.440	−0.015%	$147.2M	$170.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.470	+0.030%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.500	+0.075%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.470	+0.030%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.372	−0.117%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.427	−0.034%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.369	−0.122%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.075%	$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
Phoenix SILVER	+0.0036%	1h	66.418	−0.048%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.410	−0.060%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.898	+0.674%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.426	−0.036%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.374	−0.114%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.360	−0.135%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.413	−0.056%	$589K	$21.2M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.460	+0.015%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0070%	1h	66.403	−0.071%	$165.5M	$87.6M	25x	as long as short
Hotstuff SILVER-PERP	+0.0080%	1h	66.435	−0.023%	$35K	$21K	20x	as long as short
BloFin XAG-USDT	+0.0082%	4h	66.460	+0.015%	$2.6M	$650K	100x	as long as short
Variational Omni XAG	+0.0090%	4h	66.457	+0.010%	$5.6M	$10.1M	—	as long as short
Aster XAGUSDT	+0.0092%	4h	66.443	−0.011%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.414	−0.054%	$475K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.410	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.370	−0.120%	$126K	$26K	50x	as long as short
MEXC SILVER_USDT	+0.0102%	4h	66.430	−0.030%	$114.4M	$152.9M	1000x	as long as short
Paradex XAG-USD-PERP	+0.0102%	8h	66.451	+0.001%	$30K	$1K	5x	as long as short
Binance XAGUSDT	+0.0103%	4h	66.440	−0.015%	$191.8M	$721.6M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.441	−0.014%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0110%	4h	66.443	−0.011%	$674K	$316K	30x	as long as short
Lighter XAG	+0.0112%	1h	66.425	−0.037%	$5.2M	$10.3M	25x	as long as short
Bitget XAGUSDT	+0.0122%	4h	66.440	−0.015%	$24.2M	$47.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0149%	1h	66.433	−0.025%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0156%	4h	66.486	+0.053%	$399K	$1.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.420	−0.045%	$1.9M	$848K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0188%	8h	66.440	−0.015%	$27.6M	$66.1M	50x	as long as short
RISEx XAG/USDCshort	+0.0208%	1h	66.473	+0.035%	$1.3M	$4.2M	20x
Bullet SILVER-USD	+0.0245%	1h	66.448	−0.003%	$46K	$75K	10x	as long as short
Nado XAG-PERP	+0.0250%	1h	66.403	−0.070%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.445	−0.008%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	66.409	−0.061%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.430	−0.030%	$50K	$360K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.420	−0.045%	$768K	$566K	25x	as long as short