Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.009%

Price spread now: Phoenix against Gate−0.006%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Gate Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAG_USDT	66.030	0	get 0.0000% / 4h	2h 21m	$147.5M	$184.7M	100x
Short	Phoenix SILVER	66.026	0.0073	get 0.0009% / 1h	21m 12s	$56K	$26K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.006%Rate

Funding earned: $15.26
Price spread: −0.006% → 0.000%: −$0.61
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$7.34
Costs to cover: 0.220%
Break-even: 10.4 days

Slippage unknown: Gate: live order book, 3 min ago; Phoenix: no order-book sample. Net counts fees only.

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	0.76 bp	8.9 bp −$9	12.3 bp −$123	12.9 bp −$1,293	16.8 bp −$8,408
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XAG on 43 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	65.992	−0.057%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.030	0.000%	$25.8M	$36.9M	150x	as long as short
Gate XAG_USDTlong	0.0000%	4h	66.030	long leg	$147.5M	$184.7M	100x
SunX XAG-USDT	0.0000%	4h	66.020	−0.015%	$3K	$3.4M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	0.0000%	1h	66.050	+0.030%	$91K	$360K	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.070	+0.061%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.060	+0.045%	$1.5M	$249K	100x	as long as short
Aftermath Perps XAGUSD	+0.0020%	1h	66.009	−0.032%	$79K	$40K	10x	as long as short
Nado XAG-PERP	+0.0027%	1h	66.028	−0.004%	$1.3M	$6.6M	10x	as long as short
Bullet SILVER-USD	+0.0029%	1h	66.036	+0.010%	$44K	$74K	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0030%	1h	65.970	−0.091%	$5.4M	$9.8M	25x	as long as short
Lighter XAG	+0.0032%	1h	66.018	−0.018%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.022	−0.011%	$4.4M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.037	+0.011%	$5.3M	$15.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.560%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.970	−0.091%	$790K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.495	+0.704%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.013	−0.026%	$164.6M	$96.4M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.006	−0.036%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.013	−0.026%	$4K	$5K	20x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	65.969	−0.092%	$637K	$21.8M	8.1x	as long as short
Phoenix SILVERshort	+0.0073%	1h	66.026	−0.006%	$56K	$26K	25x
QFEX SILVER-USD	+0.0080%	1h	66.020	−0.015%	$143K	$2.8M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.031	+0.002%	$472K	$647K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.000	−0.045%	$24.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.040	+0.015%	$112K	$85K	50x	as long as short
Aster XAGUSDT	+0.0115%	4h	66.042	+0.018%	$2.8M	$1.2M	100x	as long as short
Paradex XAG-USD-PERP	+0.0126%	8h	66.039	+0.013%	$30K	$1K	5x	as long as short
Bitget XAGUSDT	+0.0146%	4h	66.030	0.000%	$23.7M	$53.0M	100x	as long as short
Binance XAGUSDT	+0.0158%	4h	66.040	+0.015%	$191.6M	$804.2M	100x	as long as short
Aevo XAG-PERP	+0.0160%	1h	66.035	+0.008%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0162%	4h	66.040	+0.015%	$122.0M	$192.2M	1000x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	66.020	−0.015%	$27.5M	$70.3M	50x	as long as short
edgeX XAGUSDC	+0.0193%	4h	66.031	+0.002%	$670K	$315K	30x	as long as short
Variational Omni XAG	+0.0196%	4h	66.013	−0.026%	$5.3M	$12.2M	—	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.000	−0.045%	$1.9M	$1.2M	20x	as long as short
BloFin XAG-USDT	+0.0205%	4h	65.990	−0.061%	$2.5M	$1.2M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0224%	4h	66.030	0.000%	$390K	$1.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0288%	1h	66.015	−0.023%	$35K	$21K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0384% / S −0.0409%	1h	66.035	+0.008%	$102K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.040	+0.015%	$1.3M	$4.3M	20x	as long as short
Hibachi XAG/USDT-P	+0.0560%	1h	66.030	−0.001%	$20K	$22K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	65.980	−0.075%	$774K	$628K	25x	as long as short