Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0220%/8h= −24.1% APRpaid last 24h +0.010%

Price spread now: Injective against HTX−1.190%65s7-day average — · you buy dearer than you sell

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

Long on HTX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Injective is 1.190% cheaper against HTX than usual: you would sell low and buy high (−$119 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	65.380	0	get 0.0000% / 4h	2h 19m	$1.1M	$1.3M	75x
Short	Injective XAG/USDC PERP	64.602	−0.0220	pay 0.0028% / 1h	19m 34s	$11K	$240	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.190%Rate

Funding earned: −$46.2
Price spread: −1.190% → 0.000%: −$119
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$177.22
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: HTX: live order book, 2 min ago; Injective: no order-book sample. 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 HTX live order book, 2 min ago	4.59 bp	10.6 bp −$11	10.6 bp −$106	13.6 bp −$1,356	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 exchanges

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
Injective XAG/USDC PERPshort	−0.0220%	1h	64.602	−1.190%	$11K	$240	52x
Ondo Perps XAG-USD.P	−0.0003%	1h	65.230	−0.229%	$5.7M	$10.4M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.257	−0.189%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.360	−0.031%	$139.3M	$199.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.330	−0.076%	$2K	$2.4M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	65.380	long leg	$1.1M	$1.3M	75x
Phemex XAGUSDT	0.0000%	4h	65.350	−0.046%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.272	−0.165%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.330	−0.076%	$4.5M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.270	−0.168%	$5.1M	$11.6M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	65.330	−0.076%	$786K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.762	+0.584%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.307	−0.112%	$36K	$23K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.312	−0.104%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.272	−0.165%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0058%	8h	65.312	−0.105%	$29K	$166	5x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.330	−0.076%	$444K	$1.4M	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.300	−0.122%	$1.6M	$1.7M	20x	as long as short
Variational Omni XAG	+0.0094%	4h	65.332	−0.074%	$5.7M	$9.2M	—	as long as short
Kalshi KXSILVERPERP	+0.0095%	24h	65.333	−0.072%	$637K	$36.8M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.271	−0.167%	$465K	$574K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.310	−0.107%	$25.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.270	−0.168%	$111K	$19K	50x	as long as short
Phoenix SILVER	+0.0110%	1h	65.307	−0.112%	$55K	$13K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0123%	1h	65.305	−0.115%	$174.0M	$92.9M	25x	as long as short
MEXC SILVER_USDT	+0.0128%	4h	65.330	−0.076%	$119.5M	$166.6M	1000x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.331	−0.075%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0128%	4h	65.348	−0.049%	$193.0M	$836.4M	100x	as long as short
Aster XAGUSDT	+0.0137%	4h	65.350	−0.047%	$2.7M	$1.1M	100x	as long as short
edgeX XAGUSDC	+0.0138%	4h	65.348	−0.049%	$666K	$314K	30x	as long as short
Nado XAG-PERP	+0.0181%	1h	65.304	−0.116%	$1.2M	$3.9M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	65.335	−0.068%	$394K	$1.6M	25x	as long as short
Lighter XAG	+0.0200%	1h	65.329	−0.078%	$5.1M	$11.7M	25x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.338	−0.065%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0211%	8h	65.350	−0.046%	$27.9M	$82.2M	50x	as long as short
Bybit XAGUSDT	+0.0215%	4h	65.370	−0.015%	$30.4M	$46.8M	150x	as long as short
Aftermath Perps XAGUSD	+0.0216%	1h	65.312	−0.103%	$78K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.350	−0.046%	$23.1M	$50.2M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0262% / S −0.0228%	1h	65.345	−0.054%	$93K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	65.280	−0.153%	$21K	$12K	10x	as long as short
Bullet SILVER-USD	+0.0275%	1h	65.340	−0.061%	$44K	$74K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0363%	1h	65.320	−0.092%	$77K	$418K	20x	as long as short
BloFin XAG-USDT	+0.0368%	4h	65.360	−0.031%	$2.7M	$754K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0776%	1h	65.298	−0.125%	$1.0M	$936K	25x	as long as short