Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.025%

Price spread now: Binance against Coinbase International+0.101%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 2 days (all we have)−0.018%−$2 · spread now +0.101%, 7d avg +0.013%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.087% dearer against Coinbase International than usual: you sell high and buy low (spread +0.101% now, against its 7-day average of +0.013%): +$9 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 28 days. At the pace of the last 7 days (−0.194% in total) that is about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SILVER-PERP-INTX	66.350	0.0184	pay 0.0023% / 1h	20m 39s	$1.9M	$969K	20x
Short	Binance XAGUSDT	66.417	0.0174	get 0.0087% / 4h	2h 20m	$192.4M	$707.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.101%Rate

Funding earned: −$2.18
Price spread: +0.101% → +0.013%: $8.75
Slippage, 4 orders: −$6.14
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$19.57
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Binance: live order book, 8 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 Coinbase International live order book, 3 min ago	0.75 bp	6.1 bp −$6	7.5 bp −$75	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	0.75 bp	5.8 bp −$6	5.9 bp −$59	9.3 bp −$927	24.3 bp −$12.1K

XAG on 43 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	66.363	+0.020%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.430	+0.121%	$152.6M	$164.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.450	+0.151%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.470	+0.181%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.450	+0.151%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.383	+0.050%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.415	+0.098%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.347	−0.005%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.075%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.450	+0.151%	$799K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.867	+0.779%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.309	−0.062%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.340	−0.015%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.410	+0.090%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.379	+0.044%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.420	+0.106%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.395	+0.068%	$567K	$23.4M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0072%	1h	66.400	+0.075%	$35K	$21K	20x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.422	+0.108%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.353	+0.005%	$165.6M	$75.8M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.367	+0.026%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.360	+0.015%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.370	+0.030%	$126K	$23K	50x	as long as short
Bybit XAGUSDT	+0.0127%	4h	66.460	+0.166%	$26.6M	$36.4M	150x	as long as short
Aster XAGUSDT	+0.0130%	4h	66.413	+0.096%	$2.8M	$939K	100x	as long as short
Paradex XAG-USD-PERP	+0.0132%	8h	66.423	+0.110%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0159%	4h	66.443	+0.140%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.436	+0.129%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0172%	4h	66.410	+0.090%	$102.7M	$158.5M	1000x	as long as short
Binance XAGUSDTshort	+0.0174%	4h	66.417	+0.101%	$192.4M	$707.5M	100x
Coinbase International SILVER-PERP-INTXlong	+0.0184%	1h	66.350	long leg	$1.9M	$969K	20x
edgeX XAGUSDC	+0.0188%	4h	66.375	+0.038%	$673K	$314K	30x	as long as short
Lighter XAG	+0.0192%	1h	66.423	+0.110%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0206%	8h	66.440	+0.136%	$28.0M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.389	+0.059%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0228%	1h	66.381	+0.047%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.358	+0.012%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0244%	4h	66.410	+0.090%	$23.9M	$46.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.440	+0.136%	$397K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0285%	1h	66.458	+0.163%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.455	+0.158%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.430	+0.121%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.409	+0.089%	$766K	$478K	25x	as long as short