Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.028%

Price spread now: tradeXYZ against GRVT−0.157%46s7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.331% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.157%, 7d avg −0.092%

Together, before fees+0.106%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and tradeXYZ is 0.065% cheaper against GRVT than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.092%). Swap the legs. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	65.567	0.0302	pay 0.0151% / 4h	2h 56m	$384K	$1.6M	25x
Short	tradeXYZ xyz:SILVER	65.464	0.0050	get 0.0006% / 1h	56m 31s	$174.0M	$92.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.157%Rate

Funding earned: −$52.92
Price spread: −0.157% → −0.092%: −$6.48
Slippage, 4 orders: −$6.08
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$92.48
Costs to cover: 0.331%
Break-even: never at this rate

Slippage from GRVT: live order book, 1 min ago; tradeXYZ: live order book, 3 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	9.7 bp −$10	9.8 bp −$98	42.3 bp −$4,226	doesn't fit
Sell tradeXYZ live order book, 3 min ago	0.08 bp	9.1 bp −$9	9.1 bp −$91	11.0 bp −$1,104	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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.471%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0070%	1h	65.390	−0.269%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.477	−0.136%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.500	−0.102%	$137.0M	$192.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.530	−0.056%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.580	+0.020%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.540	−0.041%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.037%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.493	−0.113%	$4.5M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.445	−0.186%	$5.0M	$12.0M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	65.560	−0.010%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.984	+0.636%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.511	−0.085%	$36K	$22K	20x	as long as short
tradeXYZ xyz:SILVERshort	+0.0050%	1h	65.464	−0.157%	$174.0M	$92.5M	25x
Polymarket Perps SILVER-USD	+0.0050%	1h	65.518	−0.074%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.483	−0.128%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.510	−0.086%	$77K	$436K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.490	−0.117%	$435K	$1.5M	20x	as long as short
Variational Omni XAG	+0.0076%	4h	65.573	+0.009%	$5.4M	$9.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0076%	8h	65.477	−0.137%	$29K	$166	5x	as long as short
Nado XAG-PERP	+0.0082%	1h	65.509	−0.088%	$1.3M	$4.1M	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.570	+0.005%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0090%	24h	65.562	−0.007%	$659K	$36.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.444	−0.187%	$466K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.480	−0.132%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.570	+0.005%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.549	−0.027%	$56K	$12K	25x	as long as short
MEXC SILVER_USDT	+0.0118%	4h	65.500	−0.102%	$117.1M	$160.1M	1000x	as long as short
Binance XAGUSDT	+0.0118%	4h	65.500	−0.102%	$193.4M	$825.3M	100x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.533	−0.052%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0127%	4h	65.630	+0.097%	$669K	$313K	30x	as long as short
Aster XAGUSDT	+0.0132%	4h	65.510	−0.086%	$2.7M	$1.1M	100x	as long as short
Bullet SILVER-USD	+0.0166%	1h	65.556	−0.016%	$45K	$75K	10x	as long as short
Lighter XAG	+0.0176%	1h	65.502	−0.098%	$5.1M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0196%	1h	65.538	−0.044%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.511	−0.084%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	65.500	−0.102%	$28.2M	$81.1M	50x	as long as short
Bitget XAGUSDT	+0.0228%	4h	65.500	−0.102%	$23.0M	$49.5M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.585	+0.028%	$93K	—	111x	as long as short
Bybit XAGUSDT	+0.0242%	4h	65.510	−0.086%	$30.7M	$45.1M	150x	as long as short
GRVT XAG_USDT_Perplong	+0.0302%	4h	65.567	long leg	$384K	$1.6M	25x
BloFin XAG-USDT	+0.0359%	4h	65.560	−0.010%	$2.7M	$710K	100x	as long as short
Hibachi XAG/USDT-P	+0.0360%	1h	65.523	−0.066%	$21K	$12K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0773%	1h	65.509	−0.087%	$1.0M	$893K	25x	as long as short