Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0026%/8h= −2.8% APRpaid last 24h −0.037%

Price spread now: OKX against Deribit+0.061%7-day average +0.004% · 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−$19as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.101%−$10 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.061%, 7d avg +0.004%

Together, before fees−0.196%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.058% dearer against Deribit than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.004%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.4 days. At the pace of the last 4 days (−0.101% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SILVER_USDC-PERPETUAL	65.300	0.0210	pay 0.0026% / 1h	1m 12s	$66K	$385K	20x
Short	OKX XAG-USDT-SWAP	65.340	0.0184	get 0.0184% / 8h	1h 01m	$28.1M	$71.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$5.41
Price spread: +0.061% → +0.004%: $5.76
Slippage, 4 orders: −$7.58
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.24
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from Deribit: live order book, 42 min ago; OKX: live order book, 3 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 Deribit live order book, 42 min ago	0.76 bp	8.8 bp −$9	9.2 bp −$92	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.77 bp	5.8 bp −$6	6.3 bp −$63	12.7 bp −$1,274	41.6 bp −$20.8K

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
Ondo Perps XAG-USD.P	−0.0070%	1h	65.220	−0.123%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0008%	1h	65.239	−0.093%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.233	−0.103%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.330	+0.046%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.320	+0.031%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.380	+0.123%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.340	+0.061%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.264	−0.056%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.340	+0.061%	$141.3M	$184.8M	100x	as long as short
Variational Omni XAG	+0.0031%	4h	65.344	+0.067%	$5.5M	$9.3M	—	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.314	+0.022%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.262	−0.058%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.685%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.300	0.000%	$785K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.336	+0.054%	$2.7M	$977K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.725	+0.651%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.320	+0.031%	$152K	$1.4M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.291	−0.014%	$3.8M	$854K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.254	−0.070%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.325	+0.038%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.320	+0.031%	$116.5M	$158.1M	1000x	as long as short
Binance XAGUSDT	+0.0056%	4h	65.330	+0.046%	$191.5M	$763.7M	100x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	65.292	−0.012%	$170.5M	$83.1M	25x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.333	+0.051%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.274	−0.040%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0064%	4h	65.236	−0.098%	$664K	$314K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.317	+0.026%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.291	−0.014%	$477K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.275	−0.038%	$468K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.290	−0.015%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.310	+0.015%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.230	−0.107%	$1.6M	$1.4M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0140%	4h	65.286	−0.021%	$391K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0152%	1h	65.293	−0.011%	$1.2M	$5.1M	10x	as long as short
Lighter XAG	+0.0168%	1h	65.319	+0.028%	$5.3M	$11.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0168%	1h	65.237	−0.096%	$20K	$19K	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.320	+0.031%	$23.7M	$46.2M	100x	as long as short
OKX XAG-USDT-SWAPshort	+0.0184%	8h	65.340	+0.061%	$28.1M	$71.1M	50x
Bullet SILVER-USD	+0.0207%	1h	65.327	+0.041%	$44K	$75K	10x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0210%	1h	65.300	long leg	$66K	$385K	20x
Aftermath Perps XAGUSD	+0.0213%	1h	65.292	−0.012%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0224%	4h	65.310	+0.015%	$2.6M	$598K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.325	+0.038%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.305	+0.008%	$1.0M	$877K	25x	as long as short