Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0130%/8h= +14.2% APRpaid last 24h +0.026%

Price spread now: Coinbase International against GRVT−0.045%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$370.374% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.153%+$15 on $10k

Price spread, last 3 days (all we have)+0.081%+$8 · spread now −0.045%, 7d avg −0.071%

Together, before fees+0.234%+ Points / potential airdropGRVT: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Coinbase International is 0.026% dearer against GRVT than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	65.949	0.0070	pay 0.0035% / 4h	2h 07m	$389K	$1.6M	25x
Short	Coinbase International SILVER-PERP-INTX	65.920	0.0200	get 0.0025% / 1h	7m 07s	$1.9M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.045%Rate

Funding earned: $27.3
Price spread: −0.045% → −0.071%: $2.61
Slippage, 4 orders: −$18.38
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$7.47
Costs to cover: 0.374%
Break-even: 8.9 days

Slippage from GRVT: live order book, 1 min ago; Coinbase International: 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 GRVT live order book, 1 min ago	0.76 bp	8.1 bp −$8	12.8 bp −$128	46.5 bp −$4,649	doesn't fit
Sell Coinbase International live order book, 2 min ago	3.03 bp	8.0 bp −$8	10.9 bp −$109	doesn't fit	doesn't fit

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
Deribit SILVER_USDC-PERPETUAL	−0.0053%	1h	66.010	+0.092%	$76K	$361K	20x	as long as short
Nado XAG-PERP	−0.0002%	1h	65.996	+0.071%	$1.3M	$6.5M	10x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.024%	$14K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.000	+0.077%	$25.7M	$36.2M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.000	+0.077%	$147.1M	$185.5M	100x	as long as short
Bullet SILVER-USD	0.0000%	1h	66.019	+0.106%	$44K	$74K	10x	as long as short
SunX XAG-USDT	0.0000%	4h	66.000	+0.077%	$2K	$3.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.040	+0.137%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.030	+0.122%	$1.5M	$249K	100x	as long as short
Aftermath Perps XAGUSD	+0.0013%	1h	65.965	+0.024%	$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
Lighter XAG	+0.0032%	1h	65.991	+0.063%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.992	+0.065%	$4.4M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.030	+0.122%	$5.3M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.683%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0038%	4h	66.036	+0.131%	$2.8M	$1.1M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	66.020	+0.107%	$790K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.525	+0.873%	—	—	25x	as long as short
Bitget XAGUSDT	+0.0046%	4h	66.000	+0.077%	$23.7M	$52.4M	100x	as long as short
Ondo Perps XAG-USD.P	+0.0049%	1h	65.930	−0.029%	$5.4M	$9.8M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.978	+0.043%	$164.4M	$94.8M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.966	+0.025%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.995	+0.069%	$4K	$5K	20x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	65.925	−0.037%	$637K	$21.8M	8.1x	as long as short
BloFin XAG-USDT	+0.0060%	4h	65.950	+0.001%	$2.6M	$1.2M	100x	as long as short
GRVT XAG_USDT_Perplong	+0.0070%	4h	65.949	long leg	$389K	$1.6M	25x
Phoenix SILVER	+0.0073%	1h	66.027	+0.118%	$56K	$26K	25x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.000	+0.077%	$143K	$2.8M	20x	as long as short
Binance XAGUSDT	+0.0082%	4h	66.000	+0.077%	$190.2M	$799.7M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.021	+0.108%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0092%	4h	66.010	+0.092%	$122.7M	$192.5M	1000x	as long as short
Pacifica XAG	+0.0100%	1h	65.985	+0.054%	$472K	$645K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.960	+0.016%	$24.2M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.040	+0.137%	$112K	$85K	50x	as long as short
Paradex XAG-USD-PERP	+0.0101%	8h	65.990	+0.061%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0107%	4h	66.053	+0.158%	$5.3M	$11.4M	—	as long as short
edgeX XAGUSDC	+0.0108%	4h	66.053	+0.158%	$670K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0151%	8h	65.990	+0.062%	$27.5M	$70.0M	50x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0200%	1h	65.920	−0.045%	$1.9M	$1.2M	20x
Hotstuff SILVER-PERP	+0.0320%	1h	65.990	+0.062%	$35K	$21K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0392% / S −0.0419%	1h	66.005	+0.084%	$102K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.000	+0.077%	$1.3M	$4.4M	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	65.962	+0.020%	$774K	$616K	25x	as long as short