Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0184%/8h= +20.1% APRpaid last 24h +0.054%

Price spread now: Coinbase International against Gate−0.060%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$34as in the Price arb table

costs, in and out, $10k−$310.310% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 3 days (all we have)+0.087%+$9 · spread now −0.060%, 7d avg −0.029%

Together, before fees+0.294%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.031% cheaper against Gate than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.029%). If the spread goes back, that is −$3 on $10k: about 13 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAG_USDT	66.570	0	get 0.0000% / 4h	3h 05m	$155.1M	$169.4M	100x
Short	Coinbase International SILVER-PERP-INTX	66.530	0.0184	get 0.0023% / 1h	5m 37s	$1.9M	$934K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.060%Rate

Funding earned: $38.64
Price spread: −0.060% → −0.029%: −$3.06
Slippage, 4 orders: −$6
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $4.58
Costs to cover: 0.310%
Break-even: 6.2 days

Slippage from Gate: live order book, 3 min ago; Coinbase International: 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 Gate live order book, 3 min ago	0.75 bp	9.7 bp −$10	9.7 bp −$97	11.5 bp −$1,152	14.9 bp −$7,435
Sell Coinbase International live order book, 3 min ago	0.75 bp	7.3 bp −$7	9.2 bp −$92	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
dYdX XAG-USD	0.0000%	1h	66.473	−0.146%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.580	+0.015%	$25.6M	$35.6M	150x	as long as short
Gate XAG_USDTlong	0.0000%	4h	66.570	long leg	$155.1M	$169.4M	100x
SunX XAG-USDT	0.0000%	4h	66.570	0.000%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.610	+0.060%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.600	+0.045%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.500	−0.105%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.533	−0.056%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.536	−0.051%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.488	−0.123%	$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	−0.255%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.570	0.000%	$801K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.988	+0.628%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.468	−0.153%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.526	−0.066%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.498	−0.108%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.460	−0.165%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.540	−0.045%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.503	−0.101%	$563K	$21.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	66.520	−0.075%	$165.8M	$84.7M	25x	as long as short
Aster XAGUSDT	+0.0094%	4h	66.569	−0.002%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.498	−0.108%	$474K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.520	−0.075%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.480	−0.135%	$126K	$24K	50x	as long as short
Variational Omni XAG	+0.0102%	4h	66.563	−0.011%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0111%	8h	66.546	−0.037%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.550	−0.030%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0116%	4h	66.560	−0.015%	$108.8M	$160.6M	1000x	as long as short
Binance XAGUSDT	+0.0117%	4h	66.560	−0.015%	$193.5M	$717.0M	100x	as long as short
Lighter XAG	+0.0128%	1h	66.546	−0.036%	$5.4M	$10.6M	25x	as long as short
edgeX XAGUSDC	+0.0132%	4h	66.514	−0.084%	$675K	$314K	30x	as long as short
BloFin XAG-USDT	+0.0139%	4h	66.540	−0.045%	$2.6M	$698K	100x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.560	−0.015%	$1.3M	$4.2M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.550	−0.029%	$402K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0184%	1h	66.530	−0.060%	$1.9M	$934K	20x
Nado XAG-PERP	+0.0187%	1h	66.510	−0.091%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0192%	4h	66.560	−0.015%	$24.6M	$47.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.560	−0.015%	$28.0M	$66.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0204%	1h	66.505	−0.098%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0248%	1h	66.571	+0.002%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	66.509	−0.092%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.565	−0.008%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0488%	1h	66.533	−0.055%	$765K	$564K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.560	−0.015%	$50K	$336K	20x	as long as short