Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h −0.035%

Price spread now: GRVT against Nado+0.238%7-day average +0.043% · 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−$4as in the Price arb table

costs, in and out, $10k−$240.241% of the position

Long on Nado Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.035%−$4 on $10k

Price spread, last 7 days−0.197%−$20 · spread now +0.238%, 7d avg +0.043%

Together, before fees−0.232%+ Points / potential airdropNado: Active · GRVT: Active · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and GRVT is 0.196% dearer against Nado than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.043%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XAG-PERP	66.432	0.0223	pay 0.0028% / 1h	40m 58s	$1.3M	$6.5M	10x
Short	GRVT XAG_USDT_Perp	66.591	0.0238	get 0.0119% / 4h	2h 40m	$395K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.238%Rate

Funding earned: $3.16
Price spread: +0.238% → +0.043%: $19.56
Slippage, 4 orders: −$8.06
Fee Nado: 3.5 bp × 2 orders: −$7
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$1.34
Costs to cover: 0.241%
Break-even: 10.0 days

Slippage from Nado: live order book, 3 min ago; GRVT: live order book, 2 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, 3 min ago	0.08 bp	4.4 bp −$4	7.7 bp −$77	31.1 bp −$3,110	doesn't fit
Sell GRVT live order book, 2 min ago	0.75 bp	8.1 bp −$8	12.3 bp −$123	45.6 bp −$4,562	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
Hotstuff SILVER-PERP	−0.0032%	1h	66.441	+0.013%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.423	−0.015%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.510	+0.117%	$154.5M	$161.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.500	+0.102%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.520	+0.132%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.530	+0.147%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.439	+0.011%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.501	+0.103%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.452	+0.029%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.049%	$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
StandX XAG-USD	+0.0040%	1h	66.560	+0.192%	$801K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.924	+0.740%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	−0.029%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0049%	1h	66.370	−0.094%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.456	+0.036%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.450	+0.027%	$3K	$5K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.490	+0.087%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.438	+0.009%	$574K	$23.1M	8.1x	as long as short
Bybit XAGUSDT	+0.0065%	4h	66.540	+0.162%	$26.4M	$35.9M	150x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.485	+0.079%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0096%	1h	66.490	+0.087%	$166.0M	$79.4M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.418	−0.021%	$473K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.480	+0.072%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.490	+0.087%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.207%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.520	+0.132%	$2.8M	$971K	100x	as long as short
Paradex XAG-USD-PERP	+0.0122%	8h	66.463	+0.047%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	+0.109%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0136%	1h	66.507	+0.112%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0146%	4h	66.520	+0.132%	$108.2M	$156.6M	1000x	as long as short
Binance XAGUSDT	+0.0148%	4h	66.527	+0.142%	$193.1M	$708.0M	100x	as long as short
edgeX XAGUSDC	+0.0153%	4h	66.569	+0.205%	$676K	$313K	30x	as long as short
Lighter XAG	+0.0160%	1h	66.517	+0.128%	$5.4M	$10.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.132%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.540	+0.162%	$28.1M	$66.0M	50x	as long as short
Bitget XAGUSDT	+0.0220%	4h	66.520	+0.132%	$24.4M	$45.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0223%	1h	66.470	+0.056%	$80K	$38K	10x	as long as short
Nado XAG-PERPlong	+0.0223%	1h	66.432	long leg	$1.3M	$6.5M	10x
GRVT XAG_USDT_Perpshort	+0.0238%	4h	66.591	+0.238%	$395K	$1.5M	25x
Hibachi XAG/USDT-P	+0.0280%	1h	66.430	−0.004%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0281%	1h	66.500	+0.102%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.485	+0.079%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.466	+0.051%	$766K	$491K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.520	+0.132%	$50K	$325K	20x	as long as short