Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.037%

Price spread now: Bybit against Coinbase International+0.030%7-day average +0.034% · 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−$26as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Coinbase International Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 3 days (all we have)−0.075%−$8 · spread now +0.030%, 7d avg +0.034%

Together, before fees−0.278%−$28 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.034%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SILVER-PERP-INTX	66.460	0.0160	pay 0.0020% / 1h	47m 37s	$1.9M	$861K	20x
Short	Bybit XAGUSDT	66.480	0	get 0.0000% / 4h	47m 37s	$25.8M	$33.4M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$33.6
Price spread: +0.030% → +0.034%: −$0.37
Slippage, 4 orders: −$4.65
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$59.63
Costs to cover: 0.257%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Bybit: live order book, 1 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, 1 min ago	1.51 bp	6.5 bp −$7	7.8 bp −$78	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.75 bp	6.3 bp −$6	7.6 bp −$76	14.1 bp −$1,407	61.0 bp −$30.5K

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	66.428	−0.047%	$15K	—	5x	as long as short
Bybit XAGUSDTshort	0.0000%	4h	66.480	+0.030%	$25.8M	$33.4M	150x
Gate XAG_USDT	0.0000%	4h	66.460	0.000%	$147.4M	$169.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.450	−0.015%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.490	+0.045%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.460	0.000%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.386	−0.111%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.450	−0.016%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.399	−0.092%	$5.5M	$12.3M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.431	−0.044%	$35K	$21K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.090%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.397	−0.095%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.400	−0.090%	$795K	$2.7M	40x	as long as short
BloFin XAG-USDT	+0.0042%	4h	66.460	0.000%	$2.6M	$650K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.886	+0.641%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.417	−0.065%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.383	−0.116%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.350	−0.166%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.407	−0.080%	$592K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.440	−0.030%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	66.425	−0.053%	$165.5M	$87.5M	25x	as long as short
Variational Omni XAG	+0.0086%	4h	66.457	−0.005%	$5.6M	$10.3M	—	as long as short
Aster XAGUSDT	+0.0088%	4h	66.469	+0.014%	$2.8M	$1.1M	100x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.450	−0.015%	$113.9M	$152.8M	1000x	as long as short
edgeX XAGUSDC	+0.0099%	4h	66.467	+0.011%	$674K	$315K	30x	as long as short
Binance XAGUSDT	+0.0100%	4h	66.463	+0.005%	$191.6M	$726.2M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.401	−0.089%	$475K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.420	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.400	−0.090%	$126K	$26K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.443	−0.026%	$48K	—	10x	as long as short
Paradex XAG-USD-PERP	+0.0106%	8h	66.453	−0.011%	$30K	$1K	5x	as long as short
Bitget XAGUSDT	+0.0112%	4h	66.470	+0.015%	$24.2M	$47.9M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.450	−0.015%	$5.2M	$10.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0146%	1h	66.421	−0.058%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0150%	4h	66.464	+0.006%	$390K	$1.4M	25x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0160%	1h	66.460	long leg	$1.9M	$861K	20x
OKX XAG-USDT-SWAP	+0.0187%	8h	66.470	+0.015%	$27.6M	$66.3M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.457	−0.005%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0247%	1h	66.459	−0.002%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.394	−0.099%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.455	−0.008%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.400	−0.090%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.430	−0.045%	$51K	$360K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.420	−0.060%	$768K	$569K	25x	as long as short