Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0166%/8h= +18.2% APRpaid last 24h +0.036%

Price spread now: Bybit against Hotstuff+0.159%7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

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

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Bybit is 0.159% dearer against Hotstuff than usual: you sell high and buy low: +$16 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SILVER-PERP	66.175	−0.0008	get 0.0001% / 1h	35m 57s	$35K	$21K	20x
Short	Bybit XAGUSDT	66.280	0.0158	get 0.0079% / 4h	1h 35m	$26.6M	$36.3M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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 HotstuffbpFee BybitbpOrdersPrice spread, now +0.159%Rate

Funding earned: $34.94
Price spread: +0.159% → 0.000%: $15.87
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $34.81
Costs to cover: 0.160%
Break-even: 0.0 days

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 3 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	0.75 bp	7.2 bp −$7	8.7 bp −$87	15.0 bp −$1,504	85.1 bp −$42.5K

Hotstuff: 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
Hotstuff SILVER-PERPlong	−0.0008%	1h	66.175	long leg	$35K	$21K	20x
dYdX XAG-USD	0.0000%	1h	66.160	−0.023%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.270	+0.144%	$150.1M	$163.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.270	+0.144%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.159%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.270	+0.144%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.198	+0.034%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.242	+0.101%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.189	+0.021%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.340%	$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	66.180	+0.008%	$796K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.691	+0.780%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.239	+0.097%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.191	+0.024%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.100	−0.113%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.270	+0.144%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.216	+0.062%	$571K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.122	−0.080%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0085%	1h	66.220	+0.068%	$165.8M	$74.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.213	+0.057%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	+0.053%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	−0.083%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0130%	8h	66.260	+0.128%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0134%	4h	66.265	+0.136%	$2.7M	$895K	100x	as long as short
Bybit XAGUSDTshort	+0.0158%	4h	66.280	+0.159%	$26.6M	$36.3M	150x
Lighter XAG	+0.0168%	1h	66.251	+0.115%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.259	+0.127%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.252	+0.116%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.277	+0.154%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0188%	4h	66.250	+0.113%	$111.1M	$152.2M	1000x	as long as short
Binance XAGUSDT	+0.0189%	4h	66.260	+0.128%	$191.4M	$705.8M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.240	+0.098%	$1.9M	$973K	20x	as long as short
edgeX XAGUSDC	+0.0197%	4h	66.096	−0.120%	$671K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0215%	8h	66.260	+0.128%	$27.6M	$65.7M	50x	as long as short
BloFin XAG-USDT	+0.0226%	4h	66.210	+0.053%	$2.6M	$553K	100x	as long as short
Nado XAG-PERP	+0.0228%	1h	66.224	+0.074%	$1.3M	$6.6M	10x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.158	−0.026%	$80K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.157	−0.027%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.260	+0.128%	$23.8M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.186	+0.017%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0265%	1h	66.275	+0.152%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0337% / S −0.0350%	1h	66.275	+0.151%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.240	+0.098%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.239	+0.097%	$920K	$674K	25x	as long as short