Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0098%/8h= −10.7% APRpaid last 24h −0.017%

Price spread now: gTrade (Gains Network) against GRVT−0.136%68s7-day average −0.091% · 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—prices read too far apart to compare

costs, in and out, $10k−$2842.842% of the position

Long on GRVT Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.036%−$4 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.136%, 7d avg −0.091%

Together, before fees+0.080%+ Points / potential airdropGRVT: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.045% cheaper against GRVT than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.091%). Swap the legs. The two prices were read 68 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	66.559	0.0104	pay 0.0052% / 4h	3h 25m	$394K	$1.5M	25x
Short	gTrade (Gains Network) XAG/USD	66.468	L +0.0004% / S −0.0006%	get 0.0001% / 1h	25m 52s	$120K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.136%Rate

Funding earned: −$20.61
Price spread: −0.136% → −0.091%: −$4.51
Slippage, 4 orders: −$265.19
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$309.31
Costs to cover: 2.842%
Break-even: never at this rate

Slippage from GRVT: live order book, 2 min ago; gTrade (Gains Network): virtual book (oracle venue), 13 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, 2 min ago	0.75 bp	7.7 bp −$8	8.2 bp −$82	38.4 bp −$3,840	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 13 min ago	130.00 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2012.7 bp −$1.01M

XAG on 44 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	66.490	−0.104%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.530	−0.043%	$25.9M	$35.4M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.520	−0.058%	$154.9M	$168.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.530	−0.043%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.570	+0.017%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.550	−0.013%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USDshort	L +0.0004% / S −0.0006%	1h	66.468	−0.136%	$120K	—	250x
Hotstuff SILVER-PERP	+0.0016%	1h	66.482	−0.115%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.511	−0.071%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.452	−0.160%	$5.4M	$12.4M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.238%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.550	−0.013%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.954	+0.594%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.492	−0.100%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.483	−0.114%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.462	−0.145%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.440	−0.178%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.510	−0.073%	$115K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	66.486	−0.109%	$165.4M	$85.6M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.464	−0.142%	$562K	$21.5M	8.1x	as long as short
BloFin XAG-USDT	+0.0064%	4h	66.590	+0.047%	$2.6M	$703K	100x	as long as short
Aster XAGUSDT	+0.0085%	4h	66.520	−0.058%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0089%	4h	66.514	−0.067%	$5.6M	$9.9M	—	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.510	−0.073%	$108.7M	$160.3M	1000x	as long as short
Paradex XAG-USD-PERP	+0.0099%	8h	66.514	−0.068%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0099%	4h	66.535	−0.036%	$675K	$313K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.476	−0.125%	$474K	$623K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.490	−0.103%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.500	−0.088%	$126K	$24K	50x	as long as short
Binance XAGUSDT	+0.0101%	4h	66.510	−0.073%	$192.3M	$722.2M	100x	as long as short
GRVT XAG_USDT_Perplong	+0.0104%	4h	66.559	long leg	$394K	$1.5M	25x
Aevo XAG-PERP	+0.0104%	1h	66.513	−0.069%	$48K	—	10x	as long as short
Lighter XAG	+0.0120%	1h	66.525	−0.051%	$5.4M	$10.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.520	−0.058%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0167%	1h	66.463	−0.143%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0172%	4h	66.520	−0.058%	$24.5M	$48.0M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.032%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	66.530	−0.043%	$27.9M	$67.3M	50x	as long as short
Aftermath Perps XAGUSD	+0.0195%	1h	66.501	−0.087%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0225%	1h	66.528	−0.047%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	66.483	−0.114%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.535	−0.036%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	−0.058%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.489	−0.105%	$764K	$565K	25x	as long as short