Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.004%

Price spread now: Phemex against Gate−0.076%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Gate Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 4 days (all we have)+0.227%+$23 · spread now −0.076%, 7d avg +0.034%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.110% cheaper against Gate than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAG_USDT	65.630	0	get 0.0000% / 4h	2h 59m	$138.1M	$191.4M	100x
Short	Phemex XAGUSDT	65.580	0	get 0.0000% / 4h	2h 59m	$1.5M	$253K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.076%Rate

Funding earned: $0
Price spread: −0.076% → +0.034%: −$10.97
Slippage, 4 orders: −$12.08
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$50.05
Costs to cover: 0.391%
Break-even: never at this rate

Slippage from Gate: live order book, 5 min ago; Phemex: 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 Gate live order book, 5 min ago	0.76 bp	8.4 bp −$8	9.7 bp −$97	12.7 bp −$1,274	15.3 bp −$7,656
Sell Phemex live order book, 4 min ago	0.76 bp	11.2 bp −$11	14.6 bp −$146	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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.566%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0040%	1h	65.530	−0.152%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.592	−0.058%	$12K	$6K	5x	as long as short
Gate XAG_USDTlong	0.0000%	4h	65.630	long leg	$138.1M	$191.4M	100x
SunX XAG-USDT	0.0000%	4h	65.610	−0.030%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.640	+0.015%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.580	−0.076%	$1.5M	$253K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	−0.059%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.602	−0.043%	$4.5M	$9.2M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.565	−0.100%	$5.1M	$12.0M	10x	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	65.600	−0.046%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.066	+0.664%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	65.630	0.000%	$436K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.619	−0.017%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.534	−0.146%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.570	−0.091%	$77K	$435K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	65.589	−0.062%	$174.4M	$92.3M	25x	as long as short
Nado XAG-PERP	+0.0061%	1h	65.601	−0.045%	$1.3M	$4.1M	10x	as long as short
Variational Omni XAG	+0.0076%	4h	65.573	−0.087%	$5.4M	$9.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0078%	8h	65.608	−0.034%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.570	−0.091%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0090%	24h	65.564	−0.101%	$660K	$36.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.581	−0.075%	$467K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.610	−0.030%	$25.4M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.570	−0.091%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.549	−0.123%	$56K	$12K	25x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	65.612	−0.027%	$35K	$22K	20x	as long as short
MEXC SILVER_USDT	+0.0120%	4h	65.620	−0.015%	$114.6M	$156.3M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.579	−0.077%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0122%	4h	65.620	−0.015%	$193.7M	$822.4M	100x	as long as short
edgeX XAGUSDC	+0.0128%	4h	65.632	+0.003%	$669K	$315K	30x	as long as short
Aster XAGUSDT	+0.0135%	4h	65.636	+0.009%	$2.7M	$1.1M	100x	as long as short
Bullet SILVER-USD	+0.0184%	1h	65.636	+0.009%	$45K	$75K	10x	as long as short
Aftermath Perps XAGUSD	+0.0197%	1h	65.537	−0.142%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.630	0.000%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0211%	8h	65.610	−0.030%	$28.3M	$81.1M	50x	as long as short
Lighter XAG	+0.0216%	1h	65.622	−0.012%	$5.1M	$11.2M	25x	as long as short
Bitget XAGUSDT	+0.0232%	4h	65.600	−0.046%	$23.0M	$49.3M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.585	−0.069%	$93K	—	111x	as long as short
Bybit XAGUSDT	+0.0275%	4h	65.620	−0.015%	$30.7M	$45.0M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0302%	4h	65.567	−0.096%	$384K	$1.6M	25x	as long as short
BloFin XAG-USDT	+0.0364%	4h	65.580	−0.076%	$2.7M	$710K	100x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	65.589	−0.063%	$21K	$12K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0772%	1h	65.587	−0.065%	$1.0M	$893K	25x	as long as short