Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0020%/8h= +2.2% APRpaid last 24h +0.026%

Price spread now: Coinbase International against KuCoin−0.061%7-day average +0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.127%+$13 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.061%, 7d avg +0.029%

Together, before fees+0.269%+$27 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.091% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.061% now, against its 7-day average of +0.029%). If the spread goes back, that is −$9 on $10k: about 15 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.127% in total) that is about 5.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XAGUSDTM	65.330	0.0100	pay 0.0050% / 4h	1h 18m	$25.3M	$5.0M	75x
Short	Coinbase International SILVER-PERP-INTX	65.290	0.0120	get 0.0015% / 1h	18m 18s	$1.6M	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.061%Rate

Funding earned: $4.2
Price spread: −0.061% → +0.029%: −$9.06
Slippage, 4 orders: −$8.26
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$35.12
Costs to cover: 0.303%
Break-even: 65.5 days

Slippage from KuCoin: live order book, 11 min ago; Coinbase International: live order book, just now.

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 KuCoin live order book, 11 min ago	0.76 bp	8.6 bp −$9	15.7 bp −$157	doesn't fit	doesn't fit
Sell Coinbase International live order book, just now	0.77 bp	7.2 bp −$7	9.1 bp −$91	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
Hibachi XAG/USDT-P	−0.0144%	1h	65.301	−0.045%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0080%	1h	65.240	−0.138%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0008%	1h	65.330	0.000%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.253	−0.118%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.370	+0.061%	$27.8M	$39.9M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.380	+0.077%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.410	+0.122%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.390	+0.092%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.296	−0.052%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0024%	4h	65.370	+0.061%	$141.1M	$183.1M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAG	+0.0028%	4h	65.404	+0.113%	$5.5M	$9.4M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.354	+0.037%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.296	−0.052%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.638%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0034%	4h	65.360	+0.046%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.350	+0.031%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.766	+0.667%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.340	+0.015%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.322	−0.012%	$170.3M	$83.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.321	−0.014%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.295	−0.054%	$3K	$6K	20x	as long as short
MEXC SILVER_USDT	+0.0052%	4h	65.360	+0.046%	$116.5M	$157.6M	1000x	as long as short
Binance XAGUSDT	+0.0053%	4h	65.366	+0.056%	$191.0M	$766.4M	100x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	65.337	+0.010%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.362	+0.050%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.371	+0.063%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0064%	1h	65.345	+0.023%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0073%	4h	65.369	+0.060%	$665K	$313K	30x	as long as short
Kalshi KXSILVERPERP	+0.0078%	24h	65.331	+0.002%	$507K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.301	−0.044%	$469K	$628K	10x	as long as short
KuCoin XAGUSDTMlong	+0.0100%	4h	65.330	long leg	$25.3M	$5.0M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	65.360	+0.046%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.408	+0.119%	$385K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0120%	1h	65.290	−0.061%	$1.6M	$1.4M	20x
Nado XAG-PERP	+0.0133%	1h	65.307	−0.035%	$1.2M	$5.2M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.358	+0.042%	$5.3M	$11.5M	25x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.370	+0.061%	$23.7M	$46.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.370	+0.061%	$28.0M	$71.0M	50x	as long as short
Bullet SILVER-USD	+0.0182%	1h	65.364	+0.052%	$44K	$76K	10x	as long as short
BloFin XAG-USDT	+0.0214%	4h	65.370	+0.061%	$2.6M	$600K	100x	as long as short
Aftermath Perps XAGUSD	+0.0214%	1h	65.324	−0.009%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0272% / S −0.0241%	1h	65.365	+0.054%	$93K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0362%	1h	65.350	+0.031%	$65K	$380K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.331	+0.001%	$915K	$746K	25x	as long as short