Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.022%

Price spread now: QFEX against MEXC−0.076%7-day average −0.036% · 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−$23as in the Price arb table

costs, in and out, $10k−$190.188% of the position

Long on MEXC Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.027%−$3 on $10k

Price spread, last 7 days+0.036%+$4 · spread now −0.076%, 7d avg −0.036%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and QFEX is 0.040% cheaper against MEXC than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SILVER_USDT	66.010	0.0206	pay 0.0103% / 4h	3h 45m	$112.2M	$151.8M	1000x
Short	QFEX SILVER-USD	65.960	0.0060	get 0.0007% / 1h	45m 06s	$114K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.076%Rate

Funding earned: −$30.68
Price spread: −0.076% → −0.036%: −$3.99
Slippage, 4 orders: −$8.82
Fee MEXC: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$53.49
Costs to cover: 0.188%
Break-even: never at this rate

Slippage from MEXC: live order book, 4 min ago; QFEX: live order book, 8 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, 4 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	3.9 bp −$1,954
Sell QFEX live order book, 8 min ago	1.52 bp	9.4 bp −$9	9.5 bp −$95	10.0 bp −$999	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
Ondo Perps XAG-USD.P	−0.0042%	1h	65.890	−0.182%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.116%	$14K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.010	0.000%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.030	+0.030%	$1.0M	$967K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.030	+0.030%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.943	−0.101%	$120K	—	250x	as long as short
Gate XAG_USDT	+0.0024%	4h	66.030	+0.030%	$149.6M	$163.3M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.997	−0.020%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.932	−0.118%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.591%	$11K	$94K	52x	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	+0.0040%	1h	65.974	−0.055%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.010	0.000%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.412	+0.609%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.981	−0.044%	$166.0M	$73.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.948	−0.094%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.945	−0.098%	$3K	$6K	20x	as long as short
QFEX SILVER-USDshort	+0.0060%	1h	65.960	−0.076%	$114K	$2.7M	20x
Kalshi KXSILVERPERP	+0.0072%	24h	65.959	−0.077%	$535K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.967	−0.065%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.986	−0.036%	$1.3M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0100%	4h	66.030	+0.030%	$27.3M	$36.4M	150x	as long as short
Pacifica XAG	+0.0100%	1h	65.942	−0.102%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.970	−0.061%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.970	−0.061%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0120%	1h	66.010	+0.001%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0124%	8h	65.973	−0.056%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0141%	4h	65.976	−0.052%	$2.7M	$862K	100x	as long as short
BloFin XAG-USDT	+0.0159%	4h	66.000	−0.015%	$2.6M	$556K	100x	as long as short
Nado XAG-PERP	+0.0169%	1h	65.936	−0.112%	$1.4M	$6.1M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	65.999	−0.017%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0195%	4h	66.003	−0.010%	$5.6M	$9.4M	—	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.990	−0.030%	$75K	$363K	20x	as long as short
Binance XAGUSDT	+0.0206%	4h	66.019	+0.014%	$191.0M	$702.6M	100x	as long as short
MEXC SILVER_USDTlong	+0.0206%	4h	66.010	long leg	$112.2M	$151.8M	1000x
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.091%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0212%	4h	66.009	−0.001%	$394K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.014	+0.006%	$670K	$312K	30x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	65.967	−0.065%	$79K	$36K	10x	as long as short
Bullet SILVER-USD	+0.0231%	1h	65.980	−0.045%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0233%	8h	66.020	+0.015%	$27.6M	$64.8M	50x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.020	+0.015%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	65.968	−0.064%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.995	−0.023%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.962	−0.072%	$910K	$683K	25x	as long as short