Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: Pacifica against Phemex−0.140%7-day average −0.097% · you buy dearer than you sell

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

Long on Phemex Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.140%, 7d avg −0.097%

Together, before fees+0.058%+ Points / potential airdropPacifica: Active · farm board+$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.043% cheaper against Phemex than usual: you would sell low and buy high (spread −0.140% now, against its 7-day average of −0.097%). If the spread goes back, that is −$4 on $10k: about 34 hours of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.074% in total) that is about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	66.370	0	get 0.0000% / 4h	2h 01m	$1.5M	$250K	100x
Short	Pacifica XAG	66.277	0.0100	get 0.0013% / 1h	1m 12s	$472K	$606K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.140%Rate

Funding earned: $21
Price spread: −0.140% → −0.097%: −$4.29
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$3.29
Costs to cover: 0.200%
Break-even: 8.1 days

Slippage unknown: Phemex: live order book, 1 min ago; Pacifica: live order book, 3 min ago. 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	12.2 bp −$12	18.0 bp −$180	doesn't fit	doesn't fit
Sell Pacifica live order book, 3 min ago	0.23 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

XAG on 43 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	66.300	−0.106%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.350	−0.030%	$152.0M	$166.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.340	−0.045%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.380	+0.015%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	66.370	long leg	$1.5M	$250K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.272	−0.147%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.317	−0.080%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.270	−0.151%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.045%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.390	+0.030%	$799K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0042%	1h	66.220	−0.226%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.774	+0.609%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.315	−0.083%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.308	−0.093%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.266	−0.157%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.330	−0.060%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.299	−0.107%	$490K	$24.5M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.335	−0.053%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.302	−0.102%	$165.9M	$75.7M	25x	as long as short
Pacifica XAGshort	+0.0100%	1h	66.277	−0.140%	$472K	$606K	10x
KuCoin XAGUSDTM	+0.0100%	4h	66.290	−0.121%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.300	−0.105%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0104%	1h	66.292	−0.118%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0139%	8h	66.323	−0.071%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0139%	4h	66.341	−0.043%	$2.7M	$934K	100x	as long as short
Bybit XAGUSDT	+0.0149%	4h	66.380	+0.015%	$26.7M	$36.5M	150x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.334	−0.055%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0170%	4h	66.313	−0.085%	$5.5M	$9.8M	—	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.280	−0.136%	$1.9M	$970K	20x	as long as short
MEXC SILVER_USDT	+0.0186%	4h	66.340	−0.045%	$111.5M	$159.8M	1000x	as long as short
Binance XAGUSDT	+0.0188%	4h	66.353	−0.026%	$192.4M	$707.2M	100x	as long as short
edgeX XAGUSDC	+0.0190%	4h	66.322	−0.073%	$673K	$315K	30x	as long as short
Lighter XAG	+0.0192%	1h	66.350	−0.029%	$5.3M	$10.7M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0215%	8h	66.350	−0.030%	$27.8M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0217%	1h	66.276	−0.141%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.320	−0.075%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0238%	1h	66.312	−0.088%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.340	−0.045%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.382	+0.017%	$399K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0288%	1h	66.352	−0.027%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0326% / S −0.0335%	1h	66.345	−0.038%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.300	−0.105%	$765K	$478K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.330	−0.060%	$50K	$325K	20x	as long as short