Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0286%/8h= −31.3% APRpaid last 24h −0.040%

Price spread now: Variational Omni against GMX+0.073%7-day average −0.022% · you sell dearer than you buy

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

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.182%−$18 on $10k

Price spread, last 3 days (all we have)−0.149%−$15 · spread now +0.073%, 7d avg −0.022%

Together, before fees−0.331%+ Points / potential airdropVariational Omni: Active · farm board−$33 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.095% dearer against GMX than usual: you sell high and buy low (spread +0.073% now, against its 7-day average of −0.022%): +$9 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SILVER/USD [ETH-USDC]	66.005	L +0.0392% / S −0.0420%	pay 0.0049% / 1h	5m 52s	$102K	—	29x
Short	Variational Omni XAG	66.053	0.0107	get 0.0053% / 4h	2h 05m	$5.3M	$11.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now +0.073%Rate

Funding earned: −$60
Price spread: +0.073% → −0.022%: $9.48
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$62.52
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 3 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 3 min ago	2.57 bp	doesn't fit	2.6 bp −$26	16.2 bp −$1,621	doesn't fit

GMX: 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 42 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
Nado XAG-PERP	−0.0003%	1h	65.994	−0.017%	$1.3M	$6.5M	10x	as long as short
dYdX XAG-USD	0.0000%	1h	65.988	−0.026%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.000	−0.008%	$25.7M	$36.1M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.000	−0.008%	$147.1M	$185.6M	100x	as long as short
Bullet SILVER-USD	0.0000%	1h	66.004	−0.002%	$44K	$74K	10x	as long as short
SunX XAG-USDT	0.0000%	4h	66.000	−0.008%	$2K	$3.4M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	0.0000%	1h	66.020	+0.023%	$76K	$360K	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.040	+0.053%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.030	+0.038%	$1.5M	$249K	100x	as long as short
Aftermath Perps XAGUSD	+0.0011%	1h	65.961	−0.067%	$79K	$40K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAGUSDT	+0.0027%	4h	66.030	+0.038%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0032%	1h	65.991	−0.021%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.990	−0.022%	$4.4M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.027	+0.034%	$5.3M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.598%	$11K	$94K	52x	as long as short
Bitget XAGUSDT	+0.0036%	4h	66.010	+0.008%	$23.7M	$52.3M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	66.020	+0.023%	$790K	$2.8M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0045%	1h	65.930	−0.114%	$5.4M	$9.8M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.555	+0.833%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.977	−0.042%	$164.4M	$94.8M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.969	−0.055%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.997	−0.012%	$4K	$5K	20x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	65.962	−0.065%	$637K	$21.8M	8.1x	as long as short
BloFin XAG-USDT	+0.0060%	4h	65.950	−0.083%	$2.6M	$1.2M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0070%	4h	65.949	−0.084%	$389K	$1.6M	25x	as long as short
Binance XAGUSDT	+0.0070%	4h	66.003	−0.003%	$190.3M	$796.4M	100x	as long as short
Phoenix SILVER	+0.0073%	1h	66.027	+0.033%	$56K	$26K	25x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.000	−0.008%	$143K	$2.8M	20x	as long as short
MEXC SILVER_USDT	+0.0080%	4h	66.010	+0.008%	$122.6M	$192.5M	1000x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.011	+0.009%	$47K	—	10x	as long as short
Paradex XAG-USD-PERP	+0.0100%	8h	65.995	−0.015%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	65.984	−0.032%	$472K	$645K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.960	−0.068%	$24.2M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.040	+0.053%	$112K	$85K	50x	as long as short
Variational Omni XAGshort	+0.0107%	4h	66.053	+0.073%	$5.3M	$11.4M	—
edgeX XAGUSDC	+0.0108%	4h	66.053	+0.073%	$670K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0147%	8h	66.000	−0.008%	$27.5M	$69.9M	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	65.920	−0.129%	$1.9M	$1.2M	20x	as long as short
Hotstuff SILVER-PERP	+0.0312%	1h	65.977	−0.042%	$35K	$21K	20x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0392% / S −0.0420%	1h	66.005	long leg	$102K	—	29x
RISEx XAG/USDC	+0.0432%	1h	66.003	−0.003%	$1.3M	$4.3M	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	65.963	−0.063%	$774K	$616K	25x	as long as short