Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0200%/8h= −21.9% APRpaid last 24h −0.057%

Price spread now: SunX against Coinbase International−0.045%7-day average +0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$89as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.255%−$25 on $10k

Price spread, last 4 days (all we have)+0.098%+$10 · spread now −0.045%, 7d avg +0.044%

Together, before fees−0.157%−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and SunX is 0.089% cheaper against Coinbase International than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.044%). Swap the legs.

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	16m 38s	$1.8M	$1.0M	20x
Short	SunX XAG-USDT	66.140	0	get 0.0000% / 4h	16m 38s	$2K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.045%Rate

Funding earned: −$42
Price spread: −0.045% → +0.044%: −$8.93
Slippage, 4 orders: −$62.04
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$130.97
Costs to cover: 0.800%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 2 min ago; SunX: live order book, 11 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, 2 min ago	0.76 bp	5.8 bp −$6	6.6 bp −$66	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	29.47 bp	33.5 bp −$33	doesn't fit	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	66.080	−0.136%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.190	+0.030%	$150.2M	$163.5M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.140	−0.045%	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.180	+0.015%	$1.0M	$971K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.160	−0.015%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.082	−0.133%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.156	−0.022%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.102	−0.103%	$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
Hotstuff SILVER-PERP	+0.0040%	1h	66.137	−0.050%	$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
StandX XAG-USD	+0.0040%	1h	66.150	−0.030%	$796K	$3.1M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0042%	1h	66.040	−0.196%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.585	+0.627%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.119	−0.077%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.079	−0.138%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.150	−0.030%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.143	−0.041%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0070%	24h	66.114	−0.085%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.109	−0.092%	$471K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.120	−0.076%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.130	−0.060%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0124%	1h	66.137	−0.050%	$166.0M	$74.2M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.167	−0.005%	$1.3M	$4.5M	20x	as long as short
Paradex XAG-USD-PERP	+0.0140%	8h	66.163	−0.010%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0143%	4h	66.150	−0.030%	$2.7M	$878K	100x	as long as short
Bybit XAGUSDT	+0.0162%	4h	66.190	+0.030%	$27.0M	$36.0M	150x	as long as short
Lighter XAG	+0.0176%	1h	66.160	−0.015%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.143	−0.040%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0200%	1h	66.170	long leg	$1.8M	$1.0M	20x
Variational Omni XAG	+0.0206%	4h	66.183	+0.019%	$5.6M	$9.6M	—	as long as short
Nado XAG-PERP	+0.0206%	1h	66.102	−0.103%	$1.4M	$6.5M	10x	as long as short
MEXC SILVER_USDT	+0.0210%	4h	66.170	0.000%	$110.2M	$152.8M	1000x	as long as short
Binance XAGUSDT	+0.0211%	4h	66.180	+0.015%	$192.6M	$700.4M	100x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.129	−0.063%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0221%	4h	66.189	+0.029%	$672K	$312K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.180	+0.015%	$27.8M	$65.2M	50x	as long as short
BloFin XAG-USDT	+0.0256%	4h	66.150	−0.030%	$2.6M	$554K	100x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.170	0.000%	$23.9M	$45.3M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0276%	4h	66.193	+0.035%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.156	−0.021%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.130	−0.060%	$62K	$349K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	66.092	−0.117%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.155	−0.023%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.122	−0.073%	$913K	$681K	25x	as long as short