Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0353%/8h= +38.7% APRpaid last 24h +0.087%

Price spread now: Deribit against HTX−0.075%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$340.340% of the position

Long on HTX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.133%+$13 on $10k

Price spread, last 3 days (all we have)+0.050%+$5 · spread now −0.075%, 7d avg −0.059%

Together, before fees+0.183%+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.059%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	66.390	0	get 0.0000% / 4h	2h 03m	$1.1M	$1.1M	75x
Short	Deribit SILVER_USDC-PERPETUAL	66.340	0.0353	get 0.0044% / 1h	3m 00s	$50K	$325K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.075%Rate

Funding earned: $74.2
Price spread: −0.075% → −0.059%: −$1.64
Slippage, 4 orders: −$15.05
Fee HTX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $38.51
Costs to cover: 0.340%
Break-even: 3.4 days

Slippage from HTX: live order book, 6 min ago; Deribit: live order book, 1 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, 6 min ago	5.28 bp	11.3 bp −$11	11.3 bp −$113	14.2 bp −$1,416	doesn't fit
Sell Deribit live order book, 1 min ago	0.75 bp	4.3 bp −$4	5.9 bp −$59	doesn't fit	doesn't fit

XAG on 43 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	66.241	−0.225%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.380	−0.015%	$152.0M	$165.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.340	−0.075%	$2K	$2.8M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	66.390	long leg	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.370	−0.030%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.283	−0.161%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.341	−0.075%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.278	−0.169%	$5.3M	$12.2M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.282	−0.163%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.015%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.350	−0.060%	$798K	$2.9M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0042%	1h	66.230	−0.241%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.765	+0.565%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.266	−0.187%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.306	−0.127%	$3.9M	$671K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.281	−0.164%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.320	−0.105%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0062%	24h	66.271	−0.179%	$550K	$24.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.326	−0.097%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.327	−0.095%	$166.0M	$75.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.262	−0.193%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	−0.105%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.270	−0.181%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.357	−0.050%	$2.7M	$935K	100x	as long as short
Paradex XAG-USD-PERP	+0.0138%	8h	66.299	−0.137%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0151%	4h	66.390	0.000%	$26.7M	$36.5M	150x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.343	−0.070%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0170%	4h	66.313	−0.115%	$5.5M	$9.8M	—	as long as short
MEXC SILVER_USDT	+0.0184%	4h	66.360	−0.045%	$111.2M	$159.8M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.280	−0.166%	$1.9M	$970K	20x	as long as short
Binance XAGUSDT	+0.0186%	4h	66.377	−0.020%	$192.5M	$707.3M	100x	as long as short
Lighter XAG	+0.0192%	1h	66.348	−0.063%	$5.3M	$10.7M	25x	as long as short
edgeX XAGUSDC	+0.0200%	4h	66.297	−0.140%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	66.360	−0.045%	$27.8M	$65.9M	50x	as long as short
Nado XAG-PERP	+0.0217%	1h	66.265	−0.189%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.276	−0.172%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0238%	1h	66.298	−0.138%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.380	−0.015%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0270%	4h	66.330	−0.091%	$398K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.361	−0.044%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0325% / S −0.0333%	1h	66.355	−0.053%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0353%	1h	66.340	−0.075%	$50K	$325K	20x
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.308	−0.124%	$765K	$478K	25x	as long as short