Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: QFEX against HTX−0.135%7-day average −0.068% · 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−$46as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.017%+$2 on $10k

Price spread, last 3 days (all we have)+0.093%+$9 · spread now −0.135%, 7d avg −0.068%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.067% cheaper against HTX than usual: you would sell low and buy high (spread −0.135% now, against its 7-day average of −0.068%). If the spread goes back, that is −$7 on $10k: about 4.4 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.017% in total) that is about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	66.630	0	get 0.0000% / 4h	3h 32m	$1.1M	$1.1M	75x
Short	QFEX SILVER-USD	66.540	0.0051	get 0.0006% / 1h	32m 39s	$115K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.135%Rate

Funding earned: $10.63
Price spread: −0.135% → −0.068%: −$6.68
Slippage, 4 orders: −$17.18
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$35.23
Costs to cover: 0.392%
Break-even: 30.2 days

Slippage from HTX: live order book, 1 min ago; QFEX: live order book, 5 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, 1 min ago	1.50 bp	7.5 bp −$8	7.5 bp −$75	11.2 bp −$1,121	doesn't fit
Sell QFEX live order book, 5 min ago	1.50 bp	6.5 bp −$7	6.5 bp −$65	8.6 bp −$864	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
dYdX XAG-USD	0.0000%	1h	66.490	−0.211%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.590	−0.060%	$26.1M	$35.3M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.580	−0.075%	$155.3M	$167.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.570	−0.090%	$2K	$3.0M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	66.630	long leg	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.600	−0.045%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.484	−0.220%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.541	−0.133%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.501	−0.193%	$5.4M	$12.4M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.512	−0.177%	$35K	$21K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.345%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.590	−0.060%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.992	+0.543%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.543	−0.131%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.522	−0.162%	$165.4M	$85.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.516	−0.171%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.490	−0.210%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.460	−0.255%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USDshort	+0.0051%	1h	66.540	−0.135%	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0059%	24h	66.503	−0.191%	$566K	$21.5M	8.1x	as long as short
Aster XAGUSDT	+0.0084%	4h	66.550	−0.120%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0086%	4h	66.625	−0.008%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0093%	8h	66.558	−0.109%	$30K	$1K	5x	as long as short
BloFin XAG-USDT	+0.0093%	4h	66.590	−0.060%	$2.6M	$703K	100x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.560	−0.105%	$108.2M	$160.1M	1000x	as long as short
Binance XAGUSDT	+0.0099%	4h	66.570	−0.090%	$192.8M	$721.8M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.516	−0.171%	$475K	$626K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.530	−0.150%	$24.6M	$4.5M	75x	as long as short
GRVT XAG_USDT_Perp	+0.0100%	4h	66.606	−0.036%	$394K	$1.5M	25x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.550	−0.120%	$127K	$26K	50x	as long as short
Lighter XAG	+0.0104%	1h	66.555	−0.113%	$5.4M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.545	−0.127%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0117%	4h	66.616	−0.021%	$676K	$315K	30x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.573	−0.086%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0163%	1h	66.496	−0.202%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0168%	4h	66.570	−0.090%	$24.5M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	−0.075%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0188%	8h	66.580	−0.075%	$28.1M	$66.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0189%	1h	66.560	−0.105%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0215%	1h	66.561	−0.103%	$46K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.540	−0.135%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.555	−0.113%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.550	−0.120%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.516	−0.171%	$765K	$565K	25x	as long as short