Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.057%

Price spread now: Coinbase International against HTX−0.106%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$340.341% of the position

Long on HTX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.253%+$25 on $10k

Price spread, last 3 days (all we have)+0.101%+$10 · spread now −0.106%, 7d avg −0.082%

Together, before fees+0.354%+$35 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.023% cheaper against HTX than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.082%). If the spread goes back, that is −$2 on $10k: about 18 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	66.260	0	get 0.0000% / 4h	1h 20m	$1.0M	$1.1M	75x
Short	Coinbase International SILVER-PERP-INTX	66.190	0.0104	get 0.0013% / 1h	20m 54s	$1.9M	$859K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against HTX. 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 HTXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.106%Rate

Funding earned: $21.84
Price spread: −0.106% → −0.082%: −$2.34
Slippage, 4 orders: −$12.08
Fee HTX: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$14.58
Costs to cover: 0.341%
Break-even: 11.7 days

Slippage from HTX: live order book, 3 min ago; Coinbase International: 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 HTX live order book, 3 min ago	5.28 bp	11.3 bp −$11	11.3 bp −$113	25.6 bp −$2,561	doesn't fit
Sell Coinbase International live order book, 3 min ago	0.75 bp	5.8 bp −$6	9.7 bp −$97	doesn't fit	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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.208	−0.079%	$766K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.128%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.240	−0.030%	$25.6M	$33.3M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.241	−0.029%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.240	−0.030%	$146.3M	$172.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.260	0.000%	$2K	$3.1M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	66.260	long leg	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.260	0.000%	$1.5M	$248K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.175	−0.128%	$120K	—	250x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.220	−0.060%	$144K	$2.8M	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	66.228	−0.049%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.170	−0.136%	$5.5M	$12.4M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.210	−0.075%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.211%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	−0.121%	$792K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.676	+0.628%	—	—	25x	as long as short
Aster XAGUSDT	+0.0049%	4h	66.246	−0.021%	$2.8M	$1.0M	100x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.197	−0.095%	$164.9M	$88.2M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.212	−0.072%	$3.9M	$694K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.174	−0.130%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.140	−0.181%	$5.7M	$9.9M	25x	as long as short
Bitget XAGUSDT	+0.0056%	4h	66.250	−0.015%	$23.9M	$47.7M	100x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.198	−0.094%	$583K	$21.3M	8.1x	as long as short
Variational Omni XAG	+0.0064%	4h	66.227	−0.050%	$5.5M	$10.5M	—	as long as short
Phoenix SILVER	+0.0073%	1h	66.167	−0.140%	$56K	$26K	25x	as long as short
BloFin XAG-USDT	+0.0075%	4h	66.250	−0.015%	$2.6M	$847K	100x	as long as short
edgeX XAGUSDC	+0.0077%	4h	66.226	−0.051%	$672K	$314K	30x	as long as short
MEXC SILVER_USDT	+0.0078%	4h	66.220	−0.060%	$118.1M	$181.8M	1000x	as long as short
Binance XAGUSDT	+0.0078%	4h	66.240	−0.031%	$189.8M	$728.0M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.233	−0.041%	$48K	—	10x	as long as short
Pacifica XAG	+0.0100%	1h	66.183	−0.116%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.075%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.170	−0.136%	$113K	$26K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0102%	4h	66.231	−0.044%	$390K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0104%	1h	66.190	−0.106%	$1.9M	$859K	20x
Paradex XAG-USD-PERP	+0.0118%	8h	66.225	−0.052%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0125%	1h	66.188	−0.108%	$80K	$40K	10x	as long as short
Hibachi XAG/USDT-P	+0.0128%	1h	66.174	−0.130%	$20K	$22K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.227	−0.051%	$5.1M	$10.9M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0167%	8h	66.250	−0.015%	$27.3M	$66.3M	50x	as long as short
Nado XAG-PERP	+0.0220%	1h	66.188	−0.109%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0267%	1h	66.244	−0.024%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0302% / S −0.0300%	1h	66.245	−0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.220	−0.060%	$51K	$359K	20x	as long as short