Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.022%

Price spread now: QFEX against edgeX−0.039%57s7-day average −0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$280.278% of the position

Long on edgeX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.030%−$3 on $10k

Price spread, last 3 days (all we have)+0.019%+$2 · spread now −0.039%, 7d avg −0.009%

Together, before fees−0.011%+ Points / potential airdropedgeX: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.029% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XAGUSDC	66.546	0.0099	pay 0.0049% / 4h	3h 28m	$675K	$316K	30x
Short	QFEX SILVER-USD	66.520	0.0051	get 0.0006% / 1h	28m 31s	$115K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against edgeX. 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 edgeXbpFee QFEXbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$10.13
Price spread: −0.039% → −0.009%: −$2.94
Slippage, 4 orders: −$8.83
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$40.9
Costs to cover: 0.278%
Break-even: never at this rate

Slippage from edgeX: live order book, 45 min ago; QFEX: 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 edgeX live order book, 45 min ago	1.50 bp	6.0 bp −$6	6.0 bp −$60	8.4 bp −$840	20.2 bp −$10.1K
Sell QFEX live order book, 4 min ago	1.50 bp	7.9 bp −$8	8.0 bp −$80	9.1 bp −$914	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
Hotstuff SILVER-PERP	−0.0016%	1h	66.490	−0.084%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.490	−0.084%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.530	−0.024%	$26.0M	$35.4M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.540	−0.009%	$155.0M	$167.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.550	+0.006%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.600	+0.081%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.610	+0.096%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.472	−0.110%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.515	−0.047%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.461	−0.128%	$5.4M	$12.4M	10x	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	−0.219%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.540	−0.009%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.964	+0.628%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.492	−0.081%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.474	−0.108%	$165.3M	$85.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.499	−0.070%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.472	−0.111%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.430	−0.174%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USDshort	+0.0051%	1h	66.520	−0.039%	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0059%	24h	66.498	−0.072%	$567K	$21.5M	8.1x	as long as short
BloFin XAG-USDT	+0.0083%	4h	66.570	+0.036%	$2.6M	$703K	100x	as long as short
Aster XAGUSDT	+0.0084%	4h	66.520	−0.039%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0087%	4h	66.545	−0.002%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0096%	8h	66.523	−0.035%	$30K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.510	−0.054%	$108.7M	$160.2M	1000x	as long as short
Binance XAGUSDT	+0.0099%	4h	66.527	−0.028%	$192.4M	$722.5M	100x	as long as short
edgeX XAGUSDClong	+0.0099%	4h	66.546	long leg	$675K	$316K	30x
Pacifica XAG	+0.0100%	1h	66.473	−0.109%	$474K	$623K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.490	−0.084%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.540	−0.009%	$127K	$24K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0104%	4h	66.559	+0.019%	$394K	$1.5M	25x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.531	−0.023%	$48K	—	10x	as long as short
Lighter XAG	+0.0112%	1h	66.519	−0.041%	$5.4M	$10.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.526	−0.030%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0166%	1h	66.482	−0.096%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	66.540	−0.009%	$24.5M	$48.1M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.051%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.530	−0.024%	$27.9M	$67.2M	50x	as long as short
Aftermath Perps XAGUSD	+0.0193%	1h	66.532	−0.021%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0220%	1h	66.543	−0.004%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.496	−0.075%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.545	−0.001%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	−0.039%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.507	−0.058%	$765K	$565K	25x	as long as short