Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.007%

Price spread now: Phemex against Ondo Perps+0.229%7-day average +0.223% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Ondo Perps Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.018%+$2 on $10k

Price spread, last 4 days (all we have)+0.016%+$2 · spread now +0.229%, 7d avg +0.223%

Together, before fees+0.034%+ Points / potential airdropOndo Perps: Active · farm board+$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Ondo Perps XAG-USD.P	65.460	−0.0009	get 0.0001% / 1h	1m 08s	$5.6M	$9.7M	25x
Short	Phemex XAGUSDT	65.610	0	get 0.0000% / 4h	2h 01m	$1.5M	$280K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Ondo Perps. 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 Ondo PerpsbpFee PhemexbpOrdersPrice spread, now +0.229%Rate

Funding earned: $1.85
Price spread: +0.229% → +0.223%: $0.57
Slippage, 4 orders: no order book: not counted
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$14.59
Costs to cover: 0.170%
Break-even: 62.2 days

Slippage unknown: Ondo Perps: no order-book sample; Phemex: live order book, 2 min ago. Net counts fees only.

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 Ondo Perps no order-book sample	—	—	—	—	—
Sell Phemex live order book, 2 min ago	1.52 bp	12.0 bp −$12	15.3 bp −$153	doesn't fit	doesn't fit

Ondo Perps: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0072%	1h	65.546	+0.131%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.Plong	−0.0009%	1h	65.460	long leg	$5.6M	$9.7M	25x
dYdX XAG-USD	0.0000%	1h	65.526	+0.101%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.610	+0.229%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.630	+0.260%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.610	+0.229%	$1.5M	$280K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.544	+0.129%	$119K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.568	+0.166%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.600	+0.215%	$4.7M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.537	+0.117%	$5.1M	$11.7M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.436%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0036%	4h	65.610	+0.229%	$144.3M	$181.6M	100x	as long as short
Phoenix SILVER	+0.0036%	1h	65.534	+0.113%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.590	+0.199%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.001	+0.826%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.545	+0.130%	$3.9M	$711K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.539	+0.121%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.560	+0.153%	$152K	$2.8M	20x	as long as short
Paradex XAG-USD-PERP	+0.0061%	8h	65.555	+0.144%	$29K	$1K	5x	as long as short
Aster XAGUSDT	+0.0064%	4h	65.580	+0.183%	$2.7M	$945K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0075%	1h	65.557	+0.148%	$170.9M	$82.5M	25x	as long as short
Kalshi KXSILVERPERP	+0.0076%	24h	65.561	+0.154%	$465K	$29.3M	8.1x	as long as short
Bybit XAGUSDT	+0.0082%	4h	65.620	+0.244%	$28.9M	$39.1M	150x	as long as short
Hotstuff SILVER-PERP	+0.0096%	1h	65.606	+0.223%	$35K	$21K	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.523	+0.097%	$468K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.550	+0.137%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.640	+0.275%	$112K	$19K	50x	as long as short
Binance XAGUSDT	+0.0108%	4h	65.609	+0.228%	$188.5M	$744.3M	100x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.565	+0.161%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0114%	4h	65.600	+0.214%	$112.9M	$162.5M	1000x	as long as short
Variational Omni XAG	+0.0120%	4h	65.674	+0.326%	$5.5M	$9.5M	—	as long as short
Lighter XAG	+0.0128%	1h	65.600	+0.213%	$5.4M	$11.4M	25x	as long as short
edgeX XAGUSDC	+0.0140%	4h	65.623	+0.250%	$668K	$314K	30x	as long as short
Nado XAG-PERP	+0.0146%	1h	65.533	+0.112%	$1.2M	$5.6M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0158%	4h	65.636	+0.269%	$388K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.690	+0.351%	$1.6M	$1.3M	20x	as long as short
Bitget XAGUSDT	+0.0202%	4h	65.610	+0.229%	$23.8M	$46.2M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0207%	8h	65.610	+0.229%	$27.8M	$70.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.580	+0.183%	$66K	$368K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.568	+0.165%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0233%	1h	65.598	+0.210%	$44K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0320% / S −0.0301%	1h	65.605	+0.222%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0348%	4h	65.590	+0.199%	$2.6M	$621K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0470%	1h	65.561	+0.154%	$914K	$735K	25x	as long as short