Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.033%

Price spread now: QFEX against GRVT−0.071%7-day average −0.062% · 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−$32as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on GRVT Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.088%−$9 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.071%, 7d avg −0.062%

Together, before fees−0.076%+ Points / potential airdropGRVT: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.062%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	65.726	0.0146	pay 0.0073% / 4h	1h 53m	$396K	$1.5M	25x
Short	QFEX SILVER-USD	65.680	0.0051	get 0.0006% / 1h	53m 15s	$447K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$19.89
Price spread: −0.071% → −0.062%: −$0.81
Slippage, 4 orders: −$11.82
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$51.52
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from GRVT: live order book, 3 min ago; QFEX: live order book, 1 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	0.76 bp	6.7 bp −$7	6.8 bp −$68	41.3 bp −$4,132	doesn't fit
Sell QFEX live order book, 1 min ago	2.28 bp	8.7 bp −$9	8.8 bp −$88	9.6 bp −$958	13.1 bp −$6,557

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−1.5176%	1h	65.532	−0.296%	$36K	$23K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.651	−0.115%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.730	+0.006%	$138.6M	$203.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.700	−0.040%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.720	−0.010%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.730	+0.006%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.658	−0.104%	$119K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0009%	1h	65.590	−0.207%	$5.7M	$11.0M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.709	−0.027%	$4.5M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.643	−0.126%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.711%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.680	−0.071%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.128	+0.611%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.661	−0.099%	$3.8M	$894K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.651	−0.115%	$3K	$6K	20x	as long as short
QFEX SILVER-USDshort	+0.0051%	1h	65.680	−0.071%	$447K	$1.4M	20x
tradeXYZ xyz:SILVER	+0.0054%	1h	65.685	−0.063%	$174.7M	$93.9M	25x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.687	−0.060%	$29K	$166	5x	as long as short
Variational Omni XAG	+0.0096%	4h	65.678	−0.073%	$5.7M	$9.1M	—	as long as short
Kalshi KXSILVERPERP	+0.0099%	24h	65.694	−0.049%	$711K	$38.6M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.648	−0.120%	$467K	$570K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.690	−0.055%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.650	−0.116%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.640	−0.131%	$1.6M	$1.9M	20x	as long as short
Aster XAGUSDT	+0.0115%	4h	65.719	−0.012%	$2.7M	$1.1M	100x	as long as short
Binance XAGUSDT	+0.0116%	4h	65.719	−0.011%	$191.9M	$863.9M	100x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.706	−0.031%	$1.2M	$4.9M	20x	as long as short
MEXC SILVER_USDT	+0.0118%	4h	65.710	−0.025%	$121.9M	$162.8M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.697	−0.044%	$47K	—	10x	as long as short
Phoenix SILVER	+0.0122%	1h	65.676	−0.077%	$55K	$14K	25x	as long as short
edgeX XAGUSDC	+0.0134%	4h	65.652	−0.113%	$669K	$313K	30x	as long as short
Nado XAG-PERP	+0.0144%	1h	65.665	−0.093%	$1.2M	$3.6M	10x	as long as short
Bybit XAGUSDT	+0.0144%	4h	65.730	+0.006%	$30.6M	$48.2M	150x	as long as short
GRVT XAG_USDT_Perplong	+0.0146%	4h	65.726	long leg	$396K	$1.5M	25x
Lighter XAG	+0.0152%	1h	65.717	−0.014%	$5.2M	$11.6M	25x	as long as short
Bullet SILVER-USD	+0.0206%	1h	65.709	−0.026%	$45K	$74K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.700	−0.040%	$77K	$411K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0213%	8h	65.730	+0.006%	$28.0M	$85.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	65.664	−0.095%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.730	+0.006%	$23.2M	$52.7M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0268% / S −0.0236%	1h	65.705	−0.032%	$93K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	65.654	−0.109%	$21K	$12K	10x	as long as short
BloFin XAG-USDT	+0.0358%	4h	65.720	−0.010%	$2.7M	$772K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0547%	1h	65.676	−0.076%	$1.0M	$943K	25x	as long as short