Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0087%/8h= +9.5% APRpaid last 24h +0.024%

Price spread now: Bybit against gTrade (Gains Network)+0.063%7-day average +0.111% · 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−$289as in the Price arb table

costs, in and out, $10k−$2842.837% of the position

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.063%, 7d avg +0.111%

Together, before fees−0.031%−$3 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.048% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.063% now, against its 7-day average of +0.111%). If the spread goes back, that is −$5 on $10k: about 44 hours of funding at the current rate (+$3 a day). At the pace of the last 3 days (+0.028% in total) that is about 5.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) XAG/USD	65.659	L +0.0004% / S −0.0006%	pay 0.0000% / 1h	29m 41s	$120K	—	250x
Short	Bybit XAGUSDT	65.700	0.0091	get 0.0045% / 4h	2h 29m	$28.4M	$38.7M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.063%Rate

Funding earned: $18.29
Price spread: +0.063% → +0.111%: −$4.82
Slippage, 4 orders: −$262.68
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$270.21
Costs to cover: 2.837%
Break-even: 110.4 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 49 min ago; Bybit: 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 gTrade (Gains Network) virtual book (oracle venue), 49 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	580.0 bp −$58.0K	2587.5 bp −$1.29M
Sell Bybit live order book, 4 min ago	0.76 bp	7.1 bp −$7	11.3 bp −$113	29.7 bp −$2,966	101.4 bp −$50.7K

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	−0.0034%	1h	65.620	−0.059%	$5.6M	$9.4M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.655	−0.005%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.720	+0.094%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.740	+0.124%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.750	+0.139%	$1.5M	$264K	100x	as long as short
gTrade (Gains Network) XAG/USDlong	L +0.0004% / S −0.0006%	1h	65.659	long leg	$120K	—	250x
RISEx XAG/USDC	+0.0030%	1h	65.740	+0.124%	$1.3M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.637	−0.033%	$4.7M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.657	−0.003%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.129%	$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
Phoenix SILVER	+0.0036%	1h	65.634	−0.037%	$56K	$26K	25x	as long as short
Gate XAG_USDT	+0.0040%	4h	65.720	+0.094%	$148.1M	$167.6M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.700	+0.063%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.140	+0.733%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.694	+0.054%	$3.9M	$704K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.662	+0.005%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.720	+0.094%	$156K	$2.8M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.700	+0.063%	$72K	$366K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.560	−0.150%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0059%	8h	65.692	+0.051%	$29K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0063%	1h	65.642	−0.025%	$166.2M	$76.4M	25x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	65.697	+0.059%	$562K	$27.3M	8.1x	as long as short
Bybit XAGUSDTshort	+0.0091%	4h	65.700	+0.063%	$28.4M	$38.7M	150x
Aster XAGUSDT	+0.0099%	4h	65.640	−0.028%	$2.7M	$928K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.641	−0.027%	$467K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.640	−0.028%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.600	−0.089%	$112K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.629	−0.044%	$5.4M	$11.0M	25x	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.712	+0.081%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0137%	4h	65.665	+0.010%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0148%	4h	65.640	−0.028%	$127.2M	$156.5M	1000x	as long as short
Binance XAGUSDT	+0.0148%	4h	65.660	+0.002%	$190.8M	$720.0M	100x	as long as short
Nado XAG-PERP	+0.0156%	1h	65.696	+0.057%	$1.3M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0157%	4h	65.780	+0.186%	$669K	$313K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.680	+0.033%	$1.7M	$1.3M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	65.700	+0.063%	$390K	$1.5M	25x	as long as short
BloFin XAG-USDT	+0.0206%	4h	65.670	+0.018%	$2.6M	$605K	100x	as long as short
Bitget XAGUSDT	+0.0212%	4h	65.720	+0.094%	$24.5M	$46.8M	100x	as long as short
Aftermath Perps XAGUSD	+0.0214%	1h	65.773	+0.175%	$79K	$36K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	65.710	+0.078%	$27.4M	$68.6M	50x	as long as short
Bullet SILVER-USD	+0.0230%	1h	65.730	+0.109%	$43K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.608	−0.077%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0360%	1h	65.725	+0.101%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0469%	1h	65.706	+0.072%	$919K	$749K	25x	as long as short