Funding arb · Price arb /

XAG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0062%/8h= +6.8% APRpaid last 24h −0.038%

Price spread now: Aster against Nado+0.005%7-day average +0.031% · you sell dearer than you buy

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−$200.200% of the position

Long on Nado Short on Aster

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.047%−$5 on $10k

Price spread, last 7 days+0.039%+$4 · spread now +0.005%, 7d avg +0.031%

Together, before fees−0.008%+ Points / potential airdropNado: Active · Aster: Stage 5 · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.026% cheaper against Nado than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.031%). If the spread goes back, that is −$3 on $10k: about 34 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XAG-PERP	66.040	0.0005	pay 0.0001% / 1h	12m 12s	$1.3M	$6.6M	10x
Short	Aster XAGUSDT	66.043	0.0067	get 0.0033% / 4h	2h 12m	$2.8M	$1.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Nado. 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 NadobpFee AsterbpOrdersPrice spread, now +0.005%Rate

Funding earned: $13.01
Price spread: +0.005% → +0.031%: −$2.64
Slippage, 4 orders: −$5.02
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Aster: 4 bp × 2 orders: −$8
Net: −$9.65
Costs to cover: 0.200%
Break-even: 12.2 days

Slippage from Nado: live order book, 2 min ago; Aster: live order book, 1 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 Nado live order book, 2 min ago	0.08 bp	4.8 bp −$5	9.9 bp −$99	doesn't fit	doesn't fit
Sell Aster live order book, 1 min ago	0.76 bp	4.8 bp −$5	7.1 bp −$71	19.8 bp −$1,981	doesn't fit

XAG on 42 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	65.992	−0.072%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.040	0.000%	$25.8M	$36.9M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.040	0.000%	$147.5M	$185.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.040	0.000%	$2K	$3.4M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	0.0000%	1h	66.060	+0.031%	$91K	$354K	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.090	+0.076%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.060	+0.031%	$1.5M	$249K	100x	as long as short
Nado XAG-PERPlong	+0.0005%	1h	66.040	long leg	$1.3M	$6.6M	10x
Bullet SILVER-USD	+0.0006%	1h	66.059	+0.029%	$44K	$74K	10x	as long as short
Aftermath Perps XAGUSD	+0.0016%	1h	66.009	−0.047%	$79K	$40K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAG	+0.0032%	1h	66.033	−0.010%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.033	−0.010%	$4.4M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.035	−0.008%	$5.3M	$14.9M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.546%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.040	0.000%	$790K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.557	+0.783%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.020	−0.030%	$164.6M	$96.4M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.012	−0.042%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.015	−0.037%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	65.980	−0.090%	$5.4M	$9.8M	25x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	66.007	−0.049%	$638K	$21.8M	8.1x	as long as short
Aster XAGUSDTshort	+0.0067%	4h	66.043	+0.005%	$2.8M	$1.2M	100x
Phoenix SILVER	+0.0073%	1h	66.026	−0.021%	$56K	$26K	25x	as long as short
BloFin XAG-USDT	+0.0078%	4h	66.020	−0.030%	$2.6M	$1.2M	100x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.040	0.000%	$143K	$2.8M	20x	as long as short
Bitget XAGUSDT	+0.0088%	4h	66.050	+0.016%	$23.7M	$53.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.032	−0.012%	$472K	$647K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.010	−0.045%	$24.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	+0.031%	$112K	$85K	50x	as long as short
Binance XAGUSDT	+0.0110%	4h	66.054	+0.022%	$190.5M	$804.9M	100x	as long as short
Paradex XAG-USD-PERP	+0.0112%	8h	66.063	+0.035%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.050	+0.015%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0114%	4h	66.060	+0.031%	$123.1M	$192.4M	1000x	as long as short
Variational Omni XAG	+0.0127%	4h	66.052	+0.019%	$5.3M	$11.7M	—	as long as short
edgeX XAGUSDC	+0.0142%	4h	66.052	+0.018%	$670K	$316K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0144%	4h	66.046	+0.009%	$390K	$1.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0167%	8h	66.040	0.000%	$27.5M	$70.3M	50x	as long as short
Hotstuff SILVER-PERP	+0.0168%	1h	66.016	−0.036%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.000	−0.060%	$1.9M	$1.2M	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0389% / S −0.0416%	1h	66.055	+0.023%	$102K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.054	+0.022%	$1.3M	$4.3M	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	66.007	−0.050%	$775K	$628K	25x	as long as short