Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.004%

Price spread now: Gate against Phemex0.000%7-day average −0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$400.401% of the position

Long on Phemex Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

Price spread, last 4 days (all we have)−0.110%−$11 · spread now 0.000%, 7d avg −0.031%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.031% dearer against Phemex than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.680	0	get 0.0000% / 4h	1h 28m	$1.5M	$255K	100x
Short	Gate XAG_USDT	65.680	0	get 0.0000% / 4h	1h 28m	$138.3M	$205.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → −0.031%: $3.13
Slippage, 4 orders: −$13.13
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$36.99
Costs to cover: 0.401%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Gate: live order book, 4 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, 3 min ago	0.76 bp	12.6 bp −$13	17.1 bp −$171	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.76 bp	8.3 bp −$8	9.5 bp −$95	12.5 bp −$1,246	15.5 bp −$7,737

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−3.2000%	1h	65.632	−0.073%	$36K	$23K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.586	−0.143%	$13K	$8K	5x	as long as short
Gate XAG_USDTshort	0.0000%	4h	65.680	0.000%	$138.3M	$205.4M	100x
SunX XAG-USDT	0.0000%	4h	65.670	−0.015%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.680	0.000%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.680	long leg	$1.5M	$255K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.603	−0.118%	$119K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0028%	1h	65.580	−0.152%	$5.6M	$11.1M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.671	−0.014%	$4.5M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.601	−0.120%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.641%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.670	−0.015%	$790K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.088	+0.621%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.630	−0.076%	$3.8M	$907K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.602	−0.119%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.650	−0.046%	$447K	$1.4M	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.648	−0.049%	$29K	—	5x	as long as short
Variational Omni XAG	+0.0067%	4h	65.630	−0.077%	$5.7M	$9.1M	—	as long as short
tradeXYZ xyz:SILVER	+0.0071%	1h	65.634	−0.070%	$175.4M	$95.0M	25x	as long as short
Bybit XAGUSDT	+0.0080%	4h	65.680	0.000%	$30.5M	$48.3M	150x	as long as short
Aster XAGUSDT	+0.0089%	4h	65.640	−0.061%	$2.7M	$1.2M	100x	as long as short
Binance XAGUSDT	+0.0092%	4h	65.665	−0.023%	$191.6M	$865.6M	100x	as long as short
MEXC SILVER_USDT	+0.0092%	4h	65.660	−0.030%	$118.7M	$164.6M	1000x	as long as short
Pacifica XAG	+0.0100%	1h	65.612	−0.103%	$464K	$559K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.630	−0.076%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.580	−0.152%	$112K	$19K	50x	as long as short
Kalshi KXSILVERPERP	+0.0102%	24h	65.642	−0.058%	$788K	$38.7M	8.1x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.651	−0.044%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.620	−0.091%	$1.6M	$1.9M	20x	as long as short
edgeX XAGUSDC	+0.0107%	4h	65.625	−0.083%	$669K	$315K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0108%	4h	65.649	−0.047%	$386K	$1.6M	25x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.664	−0.025%	$1.3M	$5.2M	20x	as long as short
Phoenix SILVER	+0.0122%	1h	65.611	−0.105%	$55K	$14K	25x	as long as short
Lighter XAG	+0.0128%	1h	65.675	−0.007%	$5.1M	$11.7M	25x	as long as short
Nado XAG-PERP	+0.0137%	1h	65.622	−0.089%	$1.2M	$3.5M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	65.650	−0.046%	$28.1M	$85.8M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.640	−0.061%	$77K	$414K	20x	as long as short
Bullet SILVER-USD	+0.0216%	1h	65.674	−0.010%	$45K	$73K	10x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.633	−0.071%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0228%	4h	65.670	−0.015%	$23.2M	$53.0M	100x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.617	−0.096%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0274% / S −0.0243%	1h	65.685	+0.008%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0333%	4h	65.670	−0.015%	$2.7M	$764K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0547%	1h	65.643	−0.056%	$1.0M	$952K	25x	as long as short