Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0130%/8h= +14.3% APRpaid last 24h +0.052%

Price spread now: Nado against Phemex−0.071%7-day average −0.076% · 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−$30as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.086%+$9 on $10k

Price spread, last 4 days (all we have)−0.031%−$3 · spread now −0.071%, 7d avg −0.076%

Together, before fees+0.054%+ Points / potential airdropNado: Active · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.076%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.360	0	get 0.0000% / 4h	1h 27m	$1.5M	$280K	100x
Short	Nado XAG-PERP	65.314	0.0130	get 0.0016% / 1h	27m 20s	$1.2M	$5.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.071%Rate

Funding earned: $27.35
Price spread: −0.071% → −0.076%: $0.46
Slippage, 4 orders: −$11.8
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$2.98
Costs to cover: 0.308%
Break-even: 7.8 days

Slippage from Phemex: live order book, 1 min ago; Nado: live order book, 2 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, 1 min ago	0.76 bp	6.8 bp −$7	15.4 bp −$154	doesn't fit	doesn't fit
Sell Nado live order book, 2 min ago	0.08 bp	5.4 bp −$5	9.5 bp −$95	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
Hibachi XAG/USDT-P	−0.0176%	1h	65.292	−0.104%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0094%	1h	65.220	−0.214%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0048%	1h	65.312	−0.073%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.099%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.370	+0.015%	$27.9M	$39.8M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.380	+0.031%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.390	+0.046%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.360	long leg	$1.5M	$280K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.281	−0.121%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0020%	4h	65.390	+0.046%	$141.1M	$182.3M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.348	−0.019%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.307	−0.081%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.591%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	−0.046%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0041%	4h	65.340	−0.031%	$2.7M	$966K	100x	as long as short
Variational Omni XAG	+0.0043%	4h	65.344	−0.025%	$5.5M	$9.4M	—	as long as short
Vest SI-PERP	+0.0046%	1h	65.785	+0.650%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.350	−0.015%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.340	−0.031%	$170.4M	$83.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.330	−0.046%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.292	−0.104%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	65.328	−0.049%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.377	+0.027%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.313	−0.072%	$56K	$31K	25x	as long as short
Binance XAGUSDT	+0.0064%	4h	65.360	0.000%	$190.9M	$763.6M	100x	as long as short
MEXC SILVER_USDT	+0.0064%	4h	65.360	0.000%	$116.0M	$157.4M	1000x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.351	−0.014%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.316	−0.067%	$487K	$30.8M	8.1x	as long as short
edgeX XAGUSDC	+0.0082%	4h	65.326	−0.052%	$665K	$312K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.292	−0.104%	$467K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.330	−0.046%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.290	−0.107%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0114%	4h	65.360	0.000%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	+0.031%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERPshort	+0.0130%	1h	65.314	−0.071%	$1.2M	$5.4M	10x
Lighter XAG	+0.0136%	1h	65.349	−0.017%	$5.4M	$11.4M	25x	as long as short
Bullet SILVER-USD	+0.0178%	1h	65.370	+0.015%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0178%	4h	65.360	0.000%	$23.8M	$46.3M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0184%	8h	65.360	0.000%	$28.0M	$70.6M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.330	−0.046%	$65K	$378K	20x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	65.330	−0.045%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0260%	4h	65.350	−0.015%	$2.6M	$611K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.335	−0.038%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.332	−0.043%	$915K	$746K	25x	as long as short