Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.011%

Price spread now: QFEX against Gate−0.015%7-day average −0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$320.324% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days−0.082%−$8 · spread now −0.015%, 7d avg −0.063%

Together, before fees−0.063%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and QFEX is 0.048% dearer against Gate than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.063%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAG_USDT	65.570	0	get 0.0000% / 4h	8m 07s	$135.1M	$204.4M	100x
Short	QFEX SILVER-USD	65.560	0.0042	get 0.0005% / 1h	8m 07s	$446K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $8.89
Price spread: −0.015% → −0.063%: $4.8
Slippage, 4 orders: −$7.36
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$18.67
Costs to cover: 0.324%
Break-even: 21.7 days

Slippage from Gate: live order book, 4 min ago; QFEX: live order book, 2 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, 4 min ago	0.76 bp	8.3 bp −$8	8.3 bp −$83	11.6 bp −$1,160	15.9 bp −$7,926
Sell QFEX live order book, 2 min ago	1.52 bp	7.9 bp −$8	8.0 bp −$80	8.9 bp −$888	12.6 bp −$6,295

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−0.6920%	1h	65.534	−0.055%	$39K	$26K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.485	−0.130%	$13K	$8K	5x	as long as short
RISEx XAG/USDC	0.0000%	1h	65.573	+0.005%	$1.3M	$5.6M	20x	as long as short
Gate XAG_USDTlong	0.0000%	4h	65.570	long leg	$135.1M	$204.4M	100x
SunX XAG-USDT	0.0000%	4h	65.570	0.000%	$2K	$2.3M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.610	+0.061%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.570	0.000%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.501	−0.105%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0014%	4h	65.557	−0.020%	$5.4M	$9.3M	—	as long as short
Ondo Perps XAG-USD.P	+0.0031%	1h	65.470	−0.153%	$5.7M	$11.1M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.554	−0.025%	$4.6M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.498	−0.110%	$5.1M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.476%	$11K	$240	52x	as long as short
Aster XAGUSDT	+0.0039%	4h	65.550	−0.031%	$2.7M	$1.2M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.570	0.000%	$789K	$3.1M	40x	as long as short
MEXC SILVER_USDT	+0.0042%	4h	65.550	−0.031%	$120.6M	$166.6M	1000x	as long as short
QFEX SILVER-USDshort	+0.0042%	1h	65.560	−0.015%	$446K	$1.4M	20x
Binance XAGUSDT	+0.0044%	4h	65.560	−0.015%	$191.0M	$862.5M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.001	+0.657%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.532	−0.058%	$3.8M	$1.5M	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.492	−0.119%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.537	−0.051%	$29K	—	5x	as long as short
Aevo XAG-PERP	+0.0056%	1h	65.530	−0.061%	$47K	—	10x	as long as short
Bybit XAGUSDT	+0.0058%	4h	65.570	0.000%	$30.8M	$48.5M	150x	as long as short
edgeX XAGUSDC	+0.0065%	4h	65.539	−0.047%	$668K	$313K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0078%	4h	65.571	+0.002%	$390K	$1.6M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0086%	1h	65.524	−0.070%	$175.6M	$85.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.494	−0.116%	$462K	$501K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.520	−0.076%	$25.3M	$4.1M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.540	−0.046%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.540	−0.046%	$1.6M	$2.1M	20x	as long as short
Kalshi KXSILVERPERP	+0.0112%	24h	65.567	−0.005%	$782K	$38.8M	8.1x	as long as short
Phoenix SILVER	+0.0134%	1h	65.516	−0.082%	$55K	$15K	25x	as long as short
Nado XAG-PERP	+0.0135%	1h	65.512	−0.088%	$1.1M	$3.2M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.557	−0.019%	$5.3M	$12.2M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0161%	8h	65.560	−0.015%	$27.6M	$86.4M	50x	as long as short
BloFin XAG-USDT	+0.0171%	4h	65.590	+0.031%	$2.6M	$771K	100x	as long as short
Bitget XAGUSDT	+0.0186%	4h	65.570	0.000%	$23.4M	$53.4M	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.530	−0.061%	$77K	$381K	20x	as long as short
Aftermath Perps XAGUSD	+0.0225%	1h	65.547	−0.036%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0239%	1h	65.578	+0.013%	$43K	$70K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	65.520	−0.076%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0244% / S −0.0204%	1h	65.575	+0.008%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0540%	1h	65.537	−0.051%	$1.0M	$959K	25x	as long as short