Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0182%/8h= −19.9% APRpaid last 24h −0.037%

Price spread now: ApeX Omni against GRVT−0.120%7-day average −0.036% · 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−$59as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on GRVT Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.070%+$7 on $10k

Price spread, last 4 days (all we have)+0.105%+$11 · spread now −0.120%, 7d avg −0.036%

Together, before fees+0.176%+ Points / potential airdropGRVT: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and ApeX Omni is 0.084% cheaper against GRVT than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.036%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.070%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	66.410	0.0282	pay 0.0141% / 4h	1h 53m	$399K	$1.5M	25x
Short	ApeX Omni XAGUSDT	66.330	0.0100	get 0.0013% / 1h	53m 04s	$113K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against GRVT. 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 GRVTbpFee ApeX OmnibpOrdersPrice spread, now −0.120%Rate

Funding earned: −$38.22
Price spread: −0.120% → −0.036%: −$8.41
Slippage, 4 orders: −$31.32
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$96.94
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from GRVT: live order book, 5 min ago; ApeX Omni: live order book, 7 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 GRVT live order book, 5 min ago	0.75 bp	6.5 bp −$6	8.4 bp −$84	41.0 bp −$4,102	doesn't fit
Sell ApeX Omni live order book, 7 min ago	10.56 bp	17.3 bp −$17	52.4 bp −$524	doesn't fit	doesn't fit

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	66.294	−0.175%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	−0.030%	$152.4M	$161.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.380	−0.045%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.410	0.000%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.380	−0.045%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.305	−0.158%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.353	−0.086%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.306	−0.157%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.015%	$11K	$94K	52x	as long as short
Ondo Perps XAG-USD.P	+0.0034%	1h	66.260	−0.226%	$5.7M	$9.7M	25x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.390	−0.030%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.808	+0.599%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.341	−0.104%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.304	−0.160%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.360	−0.075%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.324	−0.129%	$544K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.303	−0.161%	$56K	$26K	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.316	−0.142%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	−0.120%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTshort	+0.0100%	1h	66.330	−0.120%	$113K	$30K	50x
tradeXYZ xyz:SILVER	+0.0101%	1h	66.343	−0.101%	$166.0M	$74.7M	25x	as long as short
Paradex XAG-USD-PERP	+0.0140%	8h	66.368	−0.063%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0143%	4h	66.376	−0.051%	$2.7M	$925K	100x	as long as short
Bybit XAGUSDT	+0.0148%	4h	66.390	−0.030%	$26.7M	$36.2M	150x	as long as short
Lighter XAG	+0.0160%	1h	66.364	−0.070%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.373	−0.055%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.354	−0.084%	$5.5M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.381	−0.044%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.370	−0.060%	$111.6M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	−0.090%	$1.9M	$972K	20x	as long as short
Binance XAGUSDT	+0.0193%	4h	66.380	−0.045%	$192.3M	$706.7M	100x	as long as short
edgeX XAGUSDC	+0.0212%	4h	66.351	−0.090%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.380	−0.045%	$27.9M	$65.7M	50x	as long as short
Aftermath Perps XAGUSD	+0.0232%	1h	66.341	−0.104%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.320	−0.136%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0241%	1h	66.323	−0.130%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.380	−0.045%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.387	−0.035%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perplong	+0.0282%	4h	66.410	long leg	$399K	$1.5M	25x
GMX SILVER/USD [ETH-USDC]	L +0.0330% / S −0.0340%	1h	66.375	−0.053%	$103K	—	111x	as long as short
Hotstuff SILVER-PERP	+0.0344%	1h	66.376	−0.051%	$35K	$21K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	−0.090%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.333	−0.115%	$765K	$475K	25x	as long as short