Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.058%

Price spread now: Bybit against Hibachi+0.148%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.148% dearer against Hibachi than usual: you sell high and buy low (spread +0.148% now, against zero (this spread has no 7-day history yet)): +$15 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XAG/USDT-P	66.282	0.0264	pay 0.0033% / 1h	30m 13s	$20K	$22K	10x
Short	Bybit XAGUSDT	66.380	0.0164	get 0.0082% / 4h	1h 30m	$26.9M	$36.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hibachi. 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 HibachibpFee BybitbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$20.97
Price spread: +0.148% → 0.000%: $14.78
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.19
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Bybit: live order book, 4 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	0.75 bp	6.3 bp −$6	8.9 bp −$89	14.0 bp −$1,402	56.2 bp −$28.1K

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	66.279	−0.004%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.301	+0.029%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.370	+0.133%	$150.5M	$163.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.350	+0.102%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.360	+0.118%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.360	+0.118%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.290	+0.012%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.338	+0.084%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.288	+0.009%	$5.2M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.178%	$11K	$94K	52x	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	66.280	−0.003%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.780	+0.751%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.325	+0.065%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.285	+0.004%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.250	−0.048%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.340	+0.087%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.304	+0.033%	$571K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.244	−0.057%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.320	+0.057%	$166.1M	$74.1M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.285	+0.004%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.310	+0.042%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.210	−0.109%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0135%	8h	66.344	+0.094%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0137%	4h	66.350	+0.102%	$2.7M	$877K	100x	as long as short
BloFin XAG-USDT	+0.0149%	4h	66.300	+0.027%	$2.6M	$553K	100x	as long as short
Bybit XAGUSDTshort	+0.0164%	4h	66.380	+0.148%	$26.9M	$36.2M	150x
Aevo XAG-PERP	+0.0176%	1h	66.352	+0.105%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0179%	4h	66.321	+0.059%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.359	+0.116%	$1.3M	$4.5M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.347	+0.098%	$5.3M	$10.5M	25x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.360	+0.118%	$111.3M	$152.2M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.250	−0.048%	$1.9M	$980K	20x	as long as short
Binance XAGUSDT	+0.0195%	4h	66.364	+0.124%	$192.3M	$706.4M	100x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.273	−0.013%	$672K	$315K	30x	as long as short
Nado XAG-PERP	+0.0214%	1h	66.299	+0.025%	$1.3M	$6.5M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.360	+0.118%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.236	−0.070%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.360	+0.118%	$23.8M	$45.9M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.280	−0.003%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-Plong	+0.0264%	1h	66.282	long leg	$20K	$22K	10x
Bullet SILVER-USD	+0.0280%	1h	66.358	+0.115%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0348% / S −0.0368%	1h	66.365	+0.125%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.340	+0.087%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.330	+0.072%	$916K	$674K	25x	as long as short