Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.002%

Price spread now: gTrade (Gains Network) against Phemex−0.107%7-day average −0.119% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$291as in the Price arb table

costs, in and out, $10k−$2922.923% of the position

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.048%−$5 · spread now −0.107%, 7d avg −0.119%

Together, before fees−0.046%−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	66.160	0	get 0.0000% / 4h	37m 57s	$1.5M	$317K	100x
Short	gTrade (Gains Network) XAG/USD	66.089	L +0.0004% / S −0.0006%	get 0.0001% / 1h	37m 57s	$121K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.107%Rate

Funding earned: $1.24
Price spread: −0.107% → −0.119%: $1.14
Slippage, 4 orders: −$270.3
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$289.92
Costs to cover: 2.923%
Break-even: 1639.1 days

Slippage from Phemex: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 51 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 Phemex live order book, 5 min ago	1.51 bp	14.8 bp −$15	22.5 bp −$225	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 51 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2012.7 bp −$1.01M

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	66.085	−0.113%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.170	+0.015%	$150.2M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.170	+0.015%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.170	+0.015%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	66.160	long leg	$1.5M	$317K	100x
gTrade (Gains Network) XAG/USDshort	L +0.0004% / S −0.0006%	1h	66.089	−0.107%	$121K	—	250x
Lighter RH XAG	+0.0032%	1h	66.136	−0.037%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.088	−0.109%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.363%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.150	−0.015%	$796K	$3.0M	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	66.581	+0.636%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.127	−0.050%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.087	−0.110%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.030	−0.196%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.150	−0.015%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.074	−0.130%	$56K	$26K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.110	−0.076%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERP	+0.0068%	24h	66.111	−0.074%	$509K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.078	−0.124%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	−0.076%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	−0.060%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0134%	1h	66.131	−0.044%	$165.5M	$73.8M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.153	−0.011%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.167	+0.011%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0151%	4h	66.180	+0.030%	$27.0M	$36.1M	150x	as long as short
Paradex XAG-USD-PERP	+0.0152%	8h	66.138	−0.033%	$30K	$1K	5x	as long as short
Nado XAG-PERP	+0.0189%	1h	66.088	−0.109%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.145	−0.023%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.158	−0.003%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	−0.045%	$1.8M	$999K	20x	as long as short
Variational Omni XAG	+0.0202%	4h	66.133	−0.041%	$5.6M	$9.7M	—	as long as short
BloFin XAG-USDT	+0.0212%	4h	66.130	−0.045%	$2.6M	$554K	100x	as long as short
MEXC SILVER_USDT	+0.0214%	4h	66.160	0.000%	$109.2M	$152.4M	1000x	as long as short
Binance XAGUSDT	+0.0217%	4h	66.167	+0.010%	$192.9M	$701.2M	100x	as long as short
edgeX XAGUSDC	+0.0226%	4h	66.170	+0.016%	$671K	$310K	30x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.106	−0.082%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.160	0.000%	$27.8M	$65.5M	50x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.160	0.000%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.144	−0.024%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0314%	1h	66.173	+0.020%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	66.080	−0.121%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.140	−0.030%	$62K	$348K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0374% / S −0.0407%	1h	66.165	+0.008%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.126	−0.052%	$912K	$676K	25x	as long as short