Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.025%

Price spread now: MEXC against Coinbase International−0.136%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$150.146% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$20 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.136%, 7d avg +0.007%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.143% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.136% now, against its 7-day average of +0.007%). If the spread goes back, that is −$14 on $10k: about 48 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.195%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SILVER-PERP-INTX	66.170	0.0200	pay 0.0025% / 1h	14m 54s	$1.8M	$1.0M	20x
Short	MEXC SILVER_USDT	66.080	0.0210	get 0.0105% / 4h	14m 54s	$110.3M	$152.9M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.136%Rate

Funding earned: $2.1
Price spread: −0.136% → +0.007%: −$14.33
Slippage, 4 orders: −$4.61
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$26.84
Costs to cover: 0.146%
Break-even: 96.5 days

Slippage from Coinbase International: live order book, 4 min ago; MEXC: 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 Coinbase International live order book, 4 min ago	0.76 bp	5.8 bp −$6	6.6 bp −$66	doesn't fit	doesn't fit
Sell MEXC live order book, 4 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	1.3 bp −$133	4.1 bp −$2,072

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	66.018	−0.230%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.100	−0.106%	$150.1M	$163.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.080	−0.136%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.120	−0.076%	$1.0M	$970K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.100	−0.106%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.020	−0.227%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.062	−0.163%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.012	−0.238%	$5.2M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.348%	$11K	$94K	52x	as long as short
Ondo Perps XAG-USD.P	+0.0040%	1h	66.040	−0.196%	$5.7M	$9.6M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0040%	1h	66.057	−0.171%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.170	0.000%	$796K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.525	+0.536%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.056	−0.172%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.008	−0.245%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.080	−0.136%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.108	−0.094%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0070%	24h	66.045	−0.189%	$546K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.027	−0.216%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.060	−0.166%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	−0.076%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0124%	1h	66.056	−0.172%	$165.8M	$74.2M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.079	−0.138%	$1.3M	$4.5M	20x	as long as short
Paradex XAG-USD-PERP	+0.0140%	8h	66.075	−0.144%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0144%	4h	66.083	−0.131%	$2.7M	$881K	100x	as long as short
Bybit XAGUSDT	+0.0163%	4h	66.110	−0.091%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0176%	1h	66.066	−0.157%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.081	−0.135%	$47K	—	10x	as long as short
BloFin XAG-USDT	+0.0195%	4h	66.120	−0.076%	$2.6M	$554K	100x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0200%	1h	66.170	long leg	$1.8M	$1.0M	20x
Variational Omni XAG	+0.0203%	4h	66.163	−0.010%	$5.6M	$9.5M	—	as long as short
Nado XAG-PERP	+0.0208%	1h	66.033	−0.207%	$1.4M	$6.4M	10x	as long as short
MEXC SILVER_USDTshort	+0.0210%	4h	66.080	−0.136%	$110.3M	$152.9M	1000x
Binance XAGUSDT	+0.0211%	4h	66.095	−0.113%	$192.3M	$700.5M	100x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.093	−0.117%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0224%	4h	66.144	−0.040%	$671K	$312K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.090	−0.121%	$27.7M	$65.1M	50x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.090	−0.121%	$23.8M	$45.4M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0276%	4h	66.174	+0.005%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.093	−0.116%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.070	−0.151%	$62K	$349K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	66.110	−0.091%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.095	−0.113%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.043	−0.191%	$912K	$681K	25x	as long as short