Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h −0.010%

Price spread now: Ondo Perps against Phemex−0.105%7-day average −0.227% · you buy dearer than you sell

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

Long on Phemex Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.020%−$2 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now −0.105%, 7d avg −0.227%

Together, before fees−0.160%+ Points / potential airdropOndo Perps: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Ondo Perps is 0.122% dearer against Phemex than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.227%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	66.420	0	get 0.0000% / 4h	45m 08s	$1.5M	$250K	100x
Short	Ondo Perps XAG-USD.P	66.350	0.0050	get 0.0006% / 1h	45m 08s	$5.7M	$10.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.105%Rate

Funding earned: $10.58
Price spread: −0.105% → −0.227%: $12.2
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: $5.78
Costs to cover: 0.170%
Break-even: 3.2 days

Slippage unknown: Phemex: live order book, 3 min ago; Ondo Perps: 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, 3 min ago	1.50 bp	35.4 bp −$35	doesn't fit	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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-USD	0.0000%	1h	66.428	+0.013%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.420	0.000%	$25.7M	$33.4M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.410	−0.015%	$147.3M	$169.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.440	+0.030%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.470	+0.075%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	66.420	long leg	$1.5M	$250K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.362	−0.087%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.394	−0.039%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.364	−0.085%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.030%	$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	66.397	−0.035%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.400	−0.030%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.881	+0.694%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.402	−0.027%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.353	−0.101%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.Pshort	+0.0050%	1h	66.350	−0.105%	$5.7M	$10.0M	25x
Hotstuff SILVER-PERP	+0.0056%	1h	66.411	−0.014%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.407	−0.020%	$589K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.440	+0.030%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0068%	1h	66.375	−0.068%	$165.4M	$87.5M	25x	as long as short
Variational Omni XAG	+0.0088%	4h	66.467	+0.070%	$5.6M	$10.3M	—	as long as short
Aster XAGUSDT	+0.0089%	4h	66.420	0.000%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.389	−0.047%	$475K	$625K	10x	as long as short
MEXC SILVER_USDT	+0.0100%	4h	66.400	−0.030%	$114.2M	$152.9M	1000x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.380	−0.060%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.400	−0.030%	$126K	$26K	50x	as long as short
Binance XAGUSDT	+0.0101%	4h	66.410	−0.015%	$191.5M	$723.0M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.420	0.000%	$48K	—	10x	as long as short
Paradex XAG-USD-PERP	+0.0105%	8h	66.430	+0.015%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0110%	4h	66.444	+0.036%	$674K	$315K	30x	as long as short
Lighter XAG	+0.0112%	1h	66.403	−0.025%	$5.2M	$10.3M	25x	as long as short
Bitget XAGUSDT	+0.0116%	4h	66.420	0.000%	$24.2M	$47.9M	100x	as long as short
BloFin XAG-USDT	+0.0133%	4h	66.410	−0.015%	$2.6M	$650K	100x	as long as short
Aftermath Perps XAGUSD	+0.0146%	1h	66.421	+0.002%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0152%	4h	66.460	+0.060%	$395K	$1.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.460	+0.060%	$1.9M	$859K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0188%	8h	66.420	0.000%	$27.6M	$66.3M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.451	+0.046%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0243%	1h	66.443	+0.035%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0256%	1h	66.381	−0.058%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0257% / S −0.0231%	1h	66.425	+0.008%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.409	−0.017%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.410	−0.015%	$51K	$360K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.394	−0.039%	$767K	$569K	25x	as long as short