Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.027%

Price spread now: ApeX Omni against Gate−0.091%51s7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$40as 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−$560.558% of the position

Long on Gate Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.159%+$16 on $10k

Price spread, last 3 days (all we have)+0.102%+$10 · spread now −0.091%, 7d avg −0.012%

Together, before fees+0.261%+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. ApeX Omni is 0.079% cheaper against Gate than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of −0.012%). If the spread goes back, that is −$8 on $10k: about 2.6 days of funding at the current rate (+$3 a day). The two prices were read 51 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	Gate XAG_USDT	66.240	0	get 0.0000% / 4h	1h 16m	$146.2M	$173.0M	100x
Short	ApeX Omni XAGUSDT	66.180	0.0100	get 0.0013% / 1h	16m 37s	$113K	$26K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Gate. 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 GatebpFee ApeX OmnibpOrdersPrice spread, now −0.091%Rate

Funding earned: $21
Price spread: −0.091% → −0.012%: −$7.87
Slippage, 4 orders: −$30.82
Fee Gate: 7.5 bp × 2 orders: −$15
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$42.69
Costs to cover: 0.558%
Break-even: 21.2 days

Slippage from Gate: live order book, 2 min ago; ApeX Omni: live order book, 64 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 Gate live order book, 2 min ago	0.75 bp	8.3 bp −$8	9.2 bp −$92	11.8 bp −$1,179	14.5 bp −$7,256
Sell ApeX Omni live order book, 64 min ago	9.08 bp	19.8 bp −$20	51.9 bp −$519	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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.209	−0.046%	$766K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.098%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.250	+0.015%	$25.6M	$33.3M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.240	−0.001%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDTlong	0.0000%	4h	66.240	long leg	$146.2M	$173.0M	100x
SunX XAG-USDT	0.0000%	4h	66.250	+0.015%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.060%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.260	+0.030%	$1.5M	$248K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.179	−0.093%	$120K	—	250x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.220	−0.030%	$144K	$2.8M	20x	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	66.225	−0.022%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.169	−0.107%	$5.5M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.242%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	−0.091%	$792K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.679	+0.663%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.201	−0.059%	$165.0M	$88.3M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.211	−0.044%	$3.9M	$698K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.176	−0.097%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.150	−0.136%	$5.7M	$9.9M	25x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.194	−0.069%	$583K	$21.3M	8.1x	as long as short
Aster XAGUSDT	+0.0063%	4h	66.249	+0.013%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0064%	4h	66.237	−0.005%	$5.5M	$10.5M	—	as long as short
Bitget XAGUSDT	+0.0064%	4h	66.250	+0.015%	$24.0M	$47.7M	100x	as long as short
Hotstuff SILVER-PERP	+0.0072%	1h	66.210	−0.045%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0073%	1h	66.194	−0.069%	$56K	$26K	25x	as long as short
MEXC SILVER_USDT	+0.0080%	4h	66.230	−0.015%	$118.1M	$181.8M	1000x	as long as short
Binance XAGUSDT	+0.0082%	4h	66.239	−0.002%	$189.7M	$727.3M	100x	as long as short
edgeX XAGUSDC	+0.0084%	4h	66.235	−0.007%	$672K	$315K	30x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.237	−0.004%	$48K	—	10x	as long as short
Pacifica XAG	+0.0100%	1h	66.184	−0.085%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.045%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTshort	+0.0100%	1h	66.180	−0.091%	$113K	$26K	50x
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.220	−0.030%	$1.9M	$862K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0110%	4h	66.240	0.000%	$390K	$1.5M	25x	as long as short
Paradex XAG-USD-PERP	+0.0116%	8h	66.224	−0.024%	$30K	$1K	5x	as long as short
BloFin XAG-USDT	+0.0123%	4h	66.250	+0.015%	$2.5M	$847K	100x	as long as short
Aftermath Perps XAGUSD	+0.0125%	1h	66.191	−0.073%	$80K	$40K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.226	−0.021%	$5.2M	$11.0M	25x	as long as short
Hibachi XAG/USDT-P	+0.0144%	1h	66.193	−0.070%	$20K	$22K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0172%	8h	66.260	+0.030%	$27.3M	$66.4M	50x	as long as short
Nado XAG-PERP	+0.0221%	1h	66.188	−0.078%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0264%	1h	66.249	+0.014%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0303% / S −0.0300%	1h	66.245	+0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.230	−0.015%	$51K	$359K	20x	as long as short