Funding arb · Price arb /

XAG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h −0.004%

Price spread now: Variational Omni against Pacifica+0.066%7-day average +0.066% · you sell dearer than you buy

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

Long on Pacifica Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.041%+$4 on $10k

Price spread, last 4 days (all we have)+0.252%+$25 · spread now +0.066%, 7d avg +0.066%

Together, before fees+0.293%+ Points / potential airdropPacifica: Active · Variational Omni: Active · farm board+$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.066%, so right now this pair is about funding alone: $0 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	66.662	0.0100	pay 0.0013% / 1h	1m 22s	$482K	$624K	10x
Short	Variational Omni XAG	66.706	0.0090	get 0.0045% / 4h	1m 22s	$5.6M	$10.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.066%Rate

Funding earned: −$2.17
Price spread: +0.066% → +0.066%: −$0.03
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$10.21
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 12 min ago; Variational Omni: RFQ quote, 3 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 Pacifica live order book, 12 min ago	0.08 bp	5.1 bp −$5	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 3 min ago	2.56 bp	doesn't fit	2.6 bp −$26	6.0 bp −$604	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	66.615	−0.071%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.750	+0.132%	$26.5M	$34.8M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.730	+0.102%	$155.8M	$176.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.730	+0.102%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.740	+0.117%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.740	+0.117%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.677	+0.023%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.697	+0.053%	$4.8M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.675	+0.020%	$5.4M	$12.9M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.393%	$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
Phoenix SILVER	+0.0036%	1h	66.555	−0.160%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.650	−0.018%	$798K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.165	+0.755%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.685	+0.035%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.676	+0.021%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.580	−0.123%	$5.7M	$9.9M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.634	−0.042%	$552K	$21.6M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.690	+0.042%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0064%	1h	66.690	+0.042%	$166.2M	$86.9M	25x	as long as short
Hotstuff SILVER-PERP	+0.0080%	1h	66.651	−0.016%	$35K	$21K	20x	as long as short
Variational Omni XAGshort	+0.0090%	4h	66.706	+0.066%	$5.6M	$10.1M	—
Paradex XAG-USD-PERP	+0.0097%	8h	66.693	+0.047%	$30K	$1K	5x	as long as short
Pacifica XAGlong	+0.0100%	1h	66.662	long leg	$482K	$624K	10x
KuCoin XAGUSDTM	+0.0100%	4h	66.680	+0.027%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.620	−0.063%	$127K	$26K	50x	as long as short
Lighter XAG	+0.0104%	1h	66.707	+0.067%	$5.4M	$10.7M	25x	as long as short
Aster XAGUSDT	+0.0106%	4h	66.710	+0.072%	$2.8M	$1.1M	100x	as long as short
Binance XAGUSDT	+0.0110%	4h	66.733	+0.107%	$192.1M	$725.3M	100x	as long as short
MEXC SILVER_USDT	+0.0110%	4h	66.720	+0.087%	$116.3M	$155.4M	1000x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.721	+0.089%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0114%	4h	66.676	+0.022%	$677K	$315K	30x	as long as short
BloFin XAG-USDT	+0.0154%	4h	66.690	+0.042%	$2.6M	$669K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.640	−0.033%	$1.9M	$932K	20x	as long as short
Bitget XAGUSDT	+0.0162%	4h	66.740	+0.117%	$24.9M	$48.4M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0170%	4h	66.600	−0.093%	$400K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0171%	1h	66.607	−0.082%	$80K	$40K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0192%	8h	66.730	+0.102%	$28.2M	$67.5M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.720	+0.087%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0234%	1h	66.731	+0.104%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0241%	1h	66.673	+0.017%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	66.627	−0.053%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.735	+0.110%	$104K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0350%	1h	66.730	+0.102%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0594%	1h	66.701	+0.058%	$767K	$593K	25x	as long as short