Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Pacifica+0.097%7-day average +0.098% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$380.375% of the position

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now +0.097%, 7d avg +0.098%

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

The price spread sits at its 7-day average of +0.098%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XAG	66.126	0.0100	pay 0.0013% / 1h	24m 26s	$471K	$622K	10x
Short	Phemex XAGUSDT	66.190	0	get 0.0000% / 4h	24m 26s	$1.5M	$317K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$21
Price spread: +0.097% → +0.098%: −$0.08
Slippage, 4 orders: −$17.54
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$58.62
Costs to cover: 0.375%
Break-even: never at this rate

Slippage from Pacifica: live order book, 34 min ago; Phemex: live order book, 3 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 Pacifica live order book, 34 min ago	0.08 bp	8.0 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 3 min ago	2.27 bp	9.7 bp −$10	11.9 bp −$119	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
dYdX XAG-USD	0.0000%	1h	66.086	−0.060%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.190	+0.097%	$150.2M	$163.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.180	+0.082%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.200	+0.112%	$1.0M	$971K	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.190	+0.097%	$1.5M	$317K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.122	−0.006%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.167	+0.063%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.119	−0.011%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.414%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	+0.082%	$796K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.620	+0.747%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.060	−0.100%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.153	+0.041%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.120	−0.009%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.160	+0.051%	$115K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.154	+0.042%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.141	+0.023%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0070%	24h	66.150	+0.036%	$526K	$25.4M	8.1x	as long as short
Pacifica XAGlong	+0.0100%	1h	66.126	long leg	$471K	$622K	10x
KuCoin XAGUSDTM	+0.0100%	4h	66.160	+0.051%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.130	+0.006%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0125%	1h	66.147	+0.032%	$165.6M	$73.9M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.179	+0.081%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.180	+0.082%	$2.7M	$877K	100x	as long as short
Paradex XAG-USD-PERP	+0.0147%	8h	66.171	+0.068%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0166%	4h	66.200	+0.112%	$27.0M	$36.2M	150x	as long as short
Lighter XAG	+0.0192%	1h	66.173	+0.071%	$5.2M	$10.6M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.184	+0.087%	$48K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.120	−0.009%	$1.8M	$1.0M	20x	as long as short
Nado XAG-PERP	+0.0201%	1h	66.136	+0.015%	$1.3M	$6.5M	10x	as long as short
Variational Omni XAG	+0.0208%	4h	66.193	+0.101%	$5.6M	$9.7M	—	as long as short
Binance XAGUSDT	+0.0214%	4h	66.190	+0.096%	$192.9M	$701.1M	100x	as long as short
MEXC SILVER_USDT	+0.0214%	4h	66.170	+0.067%	$110.0M	$152.6M	1000x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.144	+0.027%	$80K	$37K	10x	as long as short
edgeX XAGUSDC	+0.0229%	4h	66.149	+0.034%	$671K	$310K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.190	+0.097%	$27.7M	$65.4M	50x	as long as short
BloFin XAG-USDT	+0.0254%	4h	66.170	+0.067%	$2.6M	$554K	100x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.190	+0.097%	$23.8M	$45.5M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.200	+0.111%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0294%	1h	66.197	+0.107%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.170	+0.067%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	66.140	+0.021%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0381% / S −0.0421%	1h	66.195	+0.104%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.153	+0.041%	$913K	$676K	25x	as long as short