Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0053%/8h= −5.9% APRpaid last 24h −0.016%

Price spread now: QFEX against KuCoin−0.031%7-day average +0.021% · 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−$310.310% of the position

Long on KuCoin Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.018%−$2 on $10k

Price spread, last 7 days+0.026%+$3 · spread now −0.031%, 7d avg +0.021%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.051% cheaper against KuCoin than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.021%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin XAGUSDTM	64.970	0.0100	pay 0.0050% / 4h	3h 21m	$25.1M	$4.6M	75x
Short	QFEX SILVER-USD	64.950	0.0047	get 0.0006% / 1h	21m 02s	$446K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$11.22
Price spread: −0.031% → +0.021%: −$5.13
Slippage, 4 orders: −$9.02
Fee KuCoin: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$47.37
Costs to cover: 0.310%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; QFEX: live order book, 10 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 KuCoin live order book, 8 min ago	1.55 bp	8.9 bp −$9	17.3 bp −$173	doesn't fit	doesn't fit
Sell QFEX live order book, 10 min ago	1.54 bp	8.0 bp −$8	8.1 bp −$81	8.8 bp −$884	13.9 bp −$6,939

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	64.859	−0.171%	$12K	$6K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.010	+0.062%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.010	+0.062%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.020	+0.077%	$1.5M	$346K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.861	−0.167%	$117K	—	250x	as long as short
Gate XAG_USDT	+0.0012%	4h	65.060	+0.139%	$138.8M	$187.7M	100x	as long as short
Variational Omni XAG	+0.0021%	4h	64.652	−0.489%	$5.4M	$9.1M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.020	+0.076%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.923	−0.073%	$5.0M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−0.566%	$11K	$240	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	64.930	−0.062%	$781K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.369	+0.614%	—	—	25x	as long as short
QFEX SILVER-USDshort	+0.0047%	1h	64.950	−0.031%	$446K	$1.5M	20x
Polymarket Perps SILVER-USD	+0.0050%	1h	64.933	−0.057%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.948	−0.034%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.850	−0.185%	$5.6M	$10.0M	25x	as long as short
edgeX XAGUSDC	+0.0071%	4h	64.801	−0.261%	$660K	$314K	30x	as long as short
Paradex XAG-USD-PERP	+0.0075%	8h	64.937	−0.051%	$29K	$166	5x	as long as short
MEXC SILVER_USDT	+0.0078%	4h	65.030	+0.092%	$123.8M	$160.1M	1000x	as long as short
Aevo XAG-PERP	+0.0080%	1h	65.007	+0.057%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.840	−0.200%	$1.6M	$1.5M	20x	as long as short
Kalshi KXSILVERPERP	+0.0087%	24h	64.950	−0.031%	$489K	$35.1M	8.1x	as long as short
Binance XAGUSDT	+0.0096%	4h	65.040	+0.108%	$198.3M	$788.3M	100x	as long as short
Pacifica XAG	+0.0100%	1h	64.882	−0.135%	$463K	$591K	10x	as long as short
KuCoin XAGUSDTMlong	+0.0100%	4h	64.970	long leg	$25.1M	$4.6M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	64.750	−0.339%	$111K	$19K	50x	as long as short
Aster XAGUSDT	+0.0102%	4h	65.020	+0.077%	$2.6M	$1.0M	100x	as long as short
Phoenix SILVER	+0.0111%	1h	64.615	−0.546%	$55K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0128%	1h	64.913	−0.088%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0136%	1h	64.998	+0.043%	$173.3M	$88.9M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.929	−0.063%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0165%	1h	64.885	−0.131%	$1.2M	$4.2M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	65.040	+0.108%	$29.0M	$76.0M	50x	as long as short
Bitget XAGUSDT	+0.0216%	4h	65.040	+0.108%	$22.8M	$48.0M	100x	as long as short
Aftermath Perps XAGUSD	+0.0218%	1h	64.798	−0.265%	$78K	$37K	10x	as long as short
Lighter XAG	+0.0232%	1h	65.013	+0.067%	$5.2M	$11.3M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	65.035	+0.100%	$92K	—	111x	as long as short
GRVT XAG_USDT_Perp	+0.0298%	4h	64.847	−0.190%	$386K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	65.001	+0.048%	$45K	$75K	10x	as long as short
BloFin XAG-USDT	+0.0336%	4h	64.980	+0.015%	$2.7M	$697K	100x	as long as short
Bybit XAGUSDT	+0.0366%	4h	65.050	+0.123%	$30.2M	$43.7M	150x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0366%	1h	64.990	+0.031%	$76K	$435K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	64.890	−0.123%	$20K	$15K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0419%	1h	64.975	+0.007%	$1.0M	$894K	25x	as long as short