Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.019%

Price spread now: Phemex against Extended+0.099%55s7-day average +0.083% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

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

costs, in and out, $10k−$280.279% of the position

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now +0.099%, 7d avg +0.083%

Together, before fees−0.005%+ Points / potential airdropExtended: Active · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.083%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 55 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	Extended XAG-USD	65.965	0.0032	pay 0.0004% / 1h	24m 25s	$5.2M	$11.5M	10x
Short	Phemex XAGUSDT	66.030	0	get 0.0000% / 4h	3h 24m	$1.5M	$320K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Extended. 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 ExtendedbpFee PhemexbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$6.72
Price spread: +0.099% → +0.083%: $1.65
Slippage, 4 orders: −$10.93
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$33
Costs to cover: 0.279%
Break-even: never at this rate

Slippage from Extended: live order book, 5 min ago; Phemex: 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 Extended live order book, 5 min ago	0.08 bp	3.0 bp −$3	4.8 bp −$48	12.4 bp −$1,238	doesn't fit
Sell Phemex live order book, 3 min ago	1.51 bp	10.5 bp −$10	15.9 bp −$159	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
Ondo Perps XAG-USD.P	−0.0054%	1h	65.900	−0.098%	$5.7M	$9.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.047%	$14K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.020	+0.084%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.060	+0.145%	$1.0M	$964K	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.030	+0.099%	$1.5M	$320K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.967	+0.004%	$120K	—	250x	as long as short
Gate XAG_USDT	+0.0004%	4h	66.040	+0.114%	$149.8M	$163.8M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.002	+0.057%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USDlong	+0.0032%	1h	65.965	long leg	$5.2M	$11.5M	10x
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.660%	$11K	$94K	52x	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	66.030	+0.099%	$794K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.449	+0.734%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.988	+0.036%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.963	−0.002%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	65.989	+0.037%	$165.9M	$73.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	66.001	+0.056%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.000	+0.054%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	65.955	−0.014%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	65.998	+0.051%	$517K	$26.1M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0080%	1h	65.992	+0.042%	$35K	$21K	20x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.019	+0.082%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.957	−0.012%	$470K	$608K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.980	+0.023%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.980	+0.023%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0104%	1h	65.999	+0.053%	$5.2M	$10.7M	25x	as long as short
Bybit XAGUSDT	+0.0127%	4h	66.040	+0.114%	$27.7M	$36.6M	150x	as long as short
Aster XAGUSDT	+0.0131%	4h	66.025	+0.091%	$2.7M	$871K	100x	as long as short
Nado XAG-PERP	+0.0171%	1h	65.984	+0.030%	$1.4M	$5.8M	10x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.009	+0.067%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.013	+0.073%	$5.6M	$9.4M	—	as long as short
Binance XAGUSDT	+0.0187%	4h	66.020	+0.084%	$191.0M	$701.4M	100x	as long as short
MEXC SILVER_USDT	+0.0188%	4h	66.020	+0.084%	$114.6M	$152.5M	1000x	as long as short
BloFin XAG-USDT	+0.0191%	4h	66.030	+0.099%	$2.6M	$562K	100x	as long as short
Aftermath Perps XAGUSD	+0.0195%	1h	65.985	+0.031%	$79K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0196%	4h	66.015	+0.076%	$670K	$310K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0204%	4h	66.021	+0.086%	$394K	$1.5M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	66.000	+0.054%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.022%	$1.8M	$1.0M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0227%	8h	66.020	+0.084%	$27.7M	$64.6M	50x	as long as short
Bullet SILVER-USD	+0.0228%	1h	66.030	+0.099%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0232%	4h	66.020	+0.084%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	65.981	+0.025%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.025	+0.092%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.996	+0.048%	$911K	$683K	25x	as long as short