Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h +0.046%

Price spread now: Deribit against MEXC−0.015%52s7-day average +0.013% · 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—prices read too far apart to compare

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

Long on MEXC Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.063%+$6 · spread now −0.015%, 7d avg +0.013%

Together, before fees+0.164%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Deribit is 0.029% cheaper against MEXC than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.013%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.100%, so the current rate has only just turned against you. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SILVER_USDT	65.380	0.0086	pay 0.0043% / 4h	1h 47m	$114.0M	$156.8M	1000x
Short	Deribit SILVER_USDC-PERPETUAL	65.370	0.0056	get 0.0007% / 1h	47m 24s	$65K	$371K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$6.29
Price spread: −0.015% → +0.013%: −$2.86
Slippage, 4 orders: −$9.03
Fee MEXC: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$25.18
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from MEXC: live order book, 2 min ago; Deribit: live order book, 61 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, 2 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	3.1 bp −$1,550
Sell Deribit live order book, 61 min ago	0.76 bp	4.3 bp −$4	4.3 bp −$43	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	−0.0120%	1h	65.343	−0.057%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0084%	1h	65.250	−0.199%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.338	−0.064%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.400	+0.031%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.470	+0.138%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.410	+0.046%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.333	−0.072%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0026%	4h	65.410	+0.046%	$141.3M	$179.9M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.355	−0.038%	$4.6M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.317	−0.096%	$5.1M	$11.6M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0032%	1h	65.368	−0.018%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.560%	$11K	$94K	52x	as long as short
Bybit XAGUSDT	+0.0034%	4h	65.400	+0.031%	$28.5M	$39.6M	150x	as long as short
StandX XAG-USD	+0.0040%	1h	65.460	+0.122%	$787K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.813	+0.662%	—	—	25x	as long as short
Aster XAGUSDT	+0.0048%	4h	65.380	0.000%	$2.7M	$966K	100x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.360	−0.031%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.353	−0.041%	$170.4M	$83.4M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.340	−0.061%	$3.8M	$716K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.341	−0.060%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0056%	1h	65.370	−0.015%	$65K	$371K	20x
Paradex XAG-USD-PERP	+0.0058%	8h	65.348	−0.049%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.381	+0.001%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.337	−0.066%	$56K	$31K	25x	as long as short
Lighter XAG	+0.0072%	1h	65.368	−0.018%	$5.4M	$11.3M	25x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.382	+0.003%	$510K	$30.0M	8.1x	as long as short
Binance XAGUSDT	+0.0083%	4h	65.385	+0.007%	$189.3M	$762.3M	100x	as long as short
Variational Omni XAG	+0.0084%	4h	65.404	+0.037%	$5.5M	$9.4M	—	as long as short
MEXC SILVER_USDTlong	+0.0086%	4h	65.380	long leg	$114.0M	$156.8M	1000x
Aevo XAG-PERP	+0.0096%	1h	65.365	−0.024%	$47K	—	10x	as long as short
Pacifica XAG	+0.0100%	1h	65.319	−0.094%	$466K	$627K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.350	−0.046%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.430	+0.076%	$112K	$19K	50x	as long as short
edgeX XAGUSDC	+0.0101%	4h	65.447	+0.102%	$666K	$313K	30x	as long as short
Nado XAG-PERP	+0.0102%	1h	65.375	−0.007%	$1.2M	$5.5M	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	0.000%	$1.6M	$1.4M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0132%	4h	65.425	+0.070%	$384K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0134%	1h	65.391	+0.017%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0186%	4h	65.390	+0.015%	$23.8M	$46.7M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0192%	8h	65.390	+0.015%	$27.8M	$71.2M	50x	as long as short
Aftermath Perps XAGUSD	+0.0211%	1h	65.429	+0.076%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0320% / S −0.0301%	1h	65.395	+0.023%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0329%	4h	65.470	+0.138%	$2.6M	$617K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.357	−0.036%	$916K	$746K	25x	as long as short