Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h +0.046%

Price spread now: Variational Omni against Hotstuff+0.052%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 Variational Omni

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 · Variational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.052% dearer against Hotstuff than usual: you sell high and buy low (spread +0.052% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SILVER-PERP	65.570	0.0104	pay 0.0013% / 1h	3m 27s	$35K	$22K	20x
Short	Variational Omni XAG	65.604	0.0081	get 0.0040% / 4h	3h 03m	$5.4M	$9.2M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.052%Rate

Funding earned: −$4.86
Price spread: +0.052% → 0.000%: $5.21
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$4.65
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Hotstuff: no order-book sample; Variational Omni: RFQ quote, 1 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 Variational Omni RFQ quote, 1 min ago	2.58 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit

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
dYdX XAG-USD	0.0000%	1h	65.519	−0.079%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.610	+0.061%	$137.9M	$193.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.580	+0.015%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.630	+0.092%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.570	0.000%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.516	−0.083%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.592	+0.034%	$4.5M	$10.1M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.543	−0.041%	$5.1M	$11.9M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.476%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.540	−0.046%	$788K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.018	+0.683%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	65.580	+0.015%	$435K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.556	−0.021%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.522	−0.073%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	65.490	−0.122%	$5.7M	$10.2M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	65.530	−0.061%	$1.6M	$1.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0081%	8h	65.584	+0.022%	$29K	$166	5x	as long as short
Variational Omni XAGshort	+0.0081%	4h	65.604	+0.052%	$5.4M	$9.2M	—
Kalshi KXSILVERPERP	+0.0089%	24h	65.577	+0.011%	$607K	$36.1M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.545	−0.039%	$467K	$590K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.570	0.000%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.590	+0.031%	$112K	$19K	50x	as long as short
Hotstuff SILVER-PERPlong	+0.0104%	1h	65.570	long leg	$35K	$22K	20x
Phoenix SILVER	+0.0111%	1h	65.561	−0.014%	$56K	$31K	25x	as long as short
MEXC SILVER_USDT	+0.0124%	4h	65.600	+0.046%	$115.0M	$164.1M	1000x	as long as short
Binance XAGUSDT	+0.0125%	4h	65.590	+0.031%	$195.3M	$816.6M	100x	as long as short
tradeXYZ xyz:SILVER	+0.0126%	1h	65.565	−0.008%	$174.2M	$91.5M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.575	+0.008%	$47K	—	10x	as long as short
Aster XAGUSDT	+0.0138%	4h	65.580	+0.015%	$2.7M	$1.1M	100x	as long as short
edgeX XAGUSDC	+0.0143%	4h	65.604	+0.052%	$668K	$314K	30x	as long as short
Nado XAG-PERP	+0.0154%	1h	65.536	−0.052%	$1.2M	$4.1M	10x	as long as short
RISEx XAG/USDC	+0.0158%	1h	65.601	+0.048%	$1.2M	$4.9M	20x	as long as short
Aftermath Perps XAGUSD	+0.0201%	1h	65.465	−0.160%	$79K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.570	0.000%	$77K	$440K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	65.580	+0.015%	$28.3M	$80.2M	50x	as long as short
Lighter XAG	+0.0224%	1h	65.601	+0.047%	$5.1M	$12.0M	25x	as long as short
Bitget XAGUSDT	+0.0236%	4h	65.590	+0.031%	$23.1M	$48.9M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.555	−0.023%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0311%	1h	65.615	+0.069%	$45K	$75K	10x	as long as short
Bybit XAGUSDT	+0.0338%	4h	65.600	+0.046%	$30.7M	$44.9M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0350%	4h	65.590	+0.031%	$384K	$1.6M	25x	as long as short
BloFin XAG-USDT	+0.0366%	4h	65.630	+0.092%	$2.7M	$703K	100x	as long as short
Hibachi XAG/USDT-P	+0.0400%	1h	65.506	−0.098%	$21K	$12K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0415%	1h	65.553	−0.025%	$1.0M	$893K	25x	as long as short