Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h +0.025%

Price spread now: Nado against GRVT−0.002%61s7-day average −0.039% · 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−$240.238% of the position

Long on GRVT Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.039%+$4 on $10k

Price spread, last 7 days+0.008%+$1 · spread now −0.002%, 7d avg −0.039%

Together, before fees+0.047%+ Points / potential airdropGRVT: Active · Nado: Active · farm board+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Nado is 0.038% dearer against GRVT than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.039%. The two prices were read 61 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	66.490	0.0178	pay 0.0089% / 4h	20m 22s	$390K	$1.5M	25x
Short	Nado XAG-PERP	66.489	0.0257	get 0.0032% / 1h	20m 22s	$1.3M	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.002%Rate

Funding earned: $16.55
Price spread: −0.002% → −0.039%: $3.78
Slippage, 4 orders: −$7.79
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$3.45
Costs to cover: 0.238%
Break-even: 8.5 days

Slippage from GRVT: live order book, 3 min ago; Nado: live order book, 4 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, 3 min ago	0.75 bp	7.9 bp −$8	8.2 bp −$82	42.5 bp −$4,249	doesn't fit
Sell Nado live order book, 4 min ago	0.08 bp	5.3 bp −$5	9.9 bp −$99	35.7 bp −$3,573	doesn't fit

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	66.484	−0.009%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.550	+0.091%	$26.2M	$34.5M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.530	+0.061%	$154.5M	$173.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.520	+0.046%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.580	+0.136%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.540	+0.076%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.468	−0.032%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.491	+0.002%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.528	+0.057%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.467	−0.035%	$5.5M	$12.2M	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	−0.135%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.485	−0.007%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.480	−0.015%	$796K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.966	+0.716%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.490	0.000%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.464	−0.039%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.440	−0.075%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.489	−0.001%	$581K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.510	+0.030%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0072%	1h	66.487	−0.004%	$165.7M	$86.8M	25x	as long as short
BloFin XAG-USDT	+0.0080%	4h	66.510	+0.030%	$2.6M	$651K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.479	−0.017%	$480K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.490	0.000%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.450	−0.060%	$126K	$26K	50x	as long as short
Variational Omni XAG	+0.0106%	4h	66.526	+0.055%	$5.6M	$10.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0108%	8h	66.526	+0.054%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.523	+0.051%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.529	+0.060%	$5.2M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.525	+0.053%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0122%	4h	66.478	−0.018%	$674K	$314K	30x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.510	+0.030%	$115.0M	$153.2M	1000x	as long as short
Binance XAGUSDT	+0.0123%	4h	66.531	+0.063%	$192.5M	$722.8M	100x	as long as short
Bitget XAGUSDT	+0.0148%	4h	66.530	+0.061%	$24.4M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.410	−0.120%	$1.9M	$848K	20x	as long as short
Aftermath Perps XAGUSD	+0.0167%	1h	66.453	−0.055%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perplong	+0.0178%	4h	66.490	long leg	$390K	$1.5M	25x
OKX XAG-USDT-SWAP	+0.0196%	8h	66.530	+0.061%	$27.9M	$66.6M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.530	+0.061%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0255%	1h	66.528	+0.058%	$45K	$76K	10x	as long as short
Nado XAG-PERPshort	+0.0257%	1h	66.489	−0.002%	$1.3M	$6.6M	10x
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.535	+0.068%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.484	−0.009%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	+0.046%	$50K	$367K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.499	+0.013%	$762K	$586K	25x	as long as short