Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h +0.028%

Price spread now: Coinbase International against MEXC−0.060%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs+$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on MEXC Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 3 days (all we have)+0.136%+$14 · spread now −0.060%, 7d avg −0.005%

Together, before fees+0.325%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.056% cheaper against MEXC than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.005%). If the spread goes back, that is −$6 on $10k: about 19 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.190% in total) that is about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SILVER_USDT	66.420	0.0094	pay 0.0047% / 4h	1h 04m	$123.9M	$182.7M	1000x
Short	Coinbase International SILVER-PERP-INTX	66.380	0.0104	get 0.0013% / 1h	4m 34s	$1.9M	$864K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against MEXC. 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 MEXCbpFee Coinbase InternationalbpOrdersPrice spread, now −0.060%Rate

Funding earned: $2.1
Price spread: −0.060% → −0.005%: −$5.57
Slippage, 4 orders: −$6.03
Fee MEXC: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$19.5
Costs to cover: 0.160%
Break-even: 72.0 days

Slippage from MEXC: live order book, 10 min ago; Coinbase International: live order book, 4 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 MEXC live order book, 10 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$75	3.2 bp −$1,587
Sell Coinbase International live order book, 4 min ago	2.26 bp	7.3 bp −$7	8.8 bp −$88	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
Kraken Futures PF_XAGUSD	−0.0271%	1h	66.380	−0.060%	$768K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.359	−0.092%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.450	+0.045%	$25.7M	$33.5M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.435	+0.023%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.430	+0.015%	$146.5M	$174.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.430	+0.015%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.410	−0.015%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.400	−0.030%	$1.5M	$249K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.353	−0.101%	$120K	—	250x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.420	0.000%	$125K	$2.8M	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	66.422	+0.003%	$4.8M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.368	−0.078%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.030%	$11K	$94K	52x	as long as short
BloFin XAG-USDT	+0.0040%	4h	66.380	−0.060%	$2.6M	$848K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	66.370	−0.075%	$794K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.864	+0.668%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.398	−0.033%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.354	−0.099%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.340	−0.120%	$5.7M	$10.0M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0054%	1h	66.405	−0.023%	$165.4M	$88.2M	25x	as long as short
Kalshi KXSILVERPERP	+0.0058%	24h	66.372	−0.072%	$588K	$21.4M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	66.345	−0.113%	$56K	$26K	25x	as long as short
Aster XAGUSDT	+0.0079%	4h	66.428	+0.012%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0080%	4h	66.386	−0.051%	$5.5M	$10.5M	—	as long as short
Bitget XAGUSDT	+0.0086%	4h	66.440	+0.030%	$24.2M	$48.0M	100x	as long as short
MEXC SILVER_USDTlong	+0.0094%	4h	66.420	long leg	$123.9M	$182.7M	1000x
Binance XAGUSDT	+0.0094%	4h	66.430	+0.015%	$191.0M	$729.7M	100x	as long as short
edgeX XAGUSDC	+0.0098%	4h	66.377	−0.065%	$673K	$315K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.381	−0.059%	$475K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.400	−0.030%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	−0.136%	$113K	$19K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.407	−0.020%	$48K	—	10x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0104%	1h	66.380	−0.060%	$1.9M	$864K	20x
Paradex XAG-USD-PERP	+0.0115%	8h	66.413	−0.011%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0131%	1h	66.309	−0.168%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0134%	4h	66.378	−0.063%	$402K	$1.4M	25x	as long as short
Lighter XAG	+0.0136%	1h	66.429	+0.013%	$5.2M	$11.0M	25x	as long as short
Hotstuff SILVER-PERP	+0.0136%	1h	66.405	−0.023%	$35K	$21K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	66.440	+0.030%	$27.5M	$66.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0200%	1h	66.330	−0.136%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0218%	1h	66.375	−0.067%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.415	−0.008%	$103K	—	111x	as long as short
Bullet SILVER-USD	+0.0269%	1h	66.415	−0.007%	$46K	$75K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.410	−0.015%	$51K	$359K	20x	as long as short