Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: dYdX against Phemex−0.105%7-day average — · you buy dearer than you sell

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

Long on Phemex Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: dYdX is 0.105% cheaper against Phemex than usual: you would sell low and buy high, −$11 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	66.630	0	get 0.0000% / 4h	16m 58s	$1.5M	$250K	100x
Short	dYdX XAG-USD	66.560	0	get 0.0000% / 1h	16m 58s	$15K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Phemex. 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 PhemexbpFee dYdXbpOrdersPrice spread, now −0.105%Rate

Funding earned: $0
Price spread: −0.105% → 0.000%: −$10.51
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$32.51
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phemex: live order book, 1 min ago; dYdX: no order-book sample. 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 Phemex live order book, 1 min ago	0.75 bp	15.5 bp −$15	21.2 bp −$212	doesn't fit	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
dYdX XAG-USDshort	0.0000%	1h	66.560	−0.105%	$15K	—	5x
Bybit XAGUSDT	0.0000%	4h	66.640	+0.015%	$26.2M	$34.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.640	+0.015%	$156.1M	$174.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.640	+0.015%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.630	0.000%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	66.630	long leg	$1.5M	$250K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.570	−0.091%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.613	−0.026%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.566	−0.096%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.345%	$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	66.531	−0.149%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.530	−0.150%	$796K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.076	+0.669%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.601	−0.044%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.565	−0.098%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.530	−0.150%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.587	−0.065%	$582K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.610	−0.030%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0072%	1h	66.591	−0.059%	$166.0M	$87.0M	25x	as long as short
BloFin XAG-USDT	+0.0084%	4h	66.630	0.000%	$2.6M	$652K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.577	−0.079%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.590	−0.060%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.570	−0.090%	$127K	$26K	50x	as long as short
Paradex XAG-USD-PERP	+0.0106%	8h	66.619	−0.016%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0106%	4h	66.526	−0.156%	$5.6M	$10.1M	—	as long as short
Aster XAGUSDT	+0.0116%	4h	66.636	+0.009%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.615	−0.023%	$5.2M	$10.4M	25x	as long as short
MEXC SILVER_USDT	+0.0124%	4h	66.620	−0.015%	$115.2M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0125%	4h	66.620	−0.015%	$192.8M	$724.7M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.630	0.000%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0133%	4h	66.541	−0.133%	$675K	$315K	30x	as long as short
Hotstuff SILVER-PERP	+0.0152%	1h	66.598	−0.048%	$35K	$21K	20x	as long as short
Bitget XAGUSDT	+0.0152%	4h	66.630	0.000%	$24.4M	$48.4M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.640	+0.015%	$1.9M	$853K	20x	as long as short
Aftermath Perps XAGUSD	+0.0166%	1h	66.516	−0.171%	$80K	$39K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.640	+0.015%	$392K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0196%	8h	66.630	0.000%	$28.0M	$67.0M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.634	+0.006%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0252%	1h	66.633	+0.005%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.588	−0.064%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.610	−0.030%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.635	+0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.620	−0.015%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.600	−0.046%	$764K	$588K	25x	as long as short