Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: SunX against Phemex−0.045%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$890.890% of the position

Long on Phemex Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now −0.045%, 7d avg −0.024%

Together, before fees−0.005%−$1 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: SunX is 0.021% cheaper against Phemex than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	66.450	0	get 0.0000% / 4h	2h 19m	$1.5M	$250K	100x
Short	SunX XAG-USDT	66.420	0	get 0.0000% / 4h	2h 19m	$2K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0
Price spread: −0.045% → −0.024%: −$2.1
Slippage, 4 orders: −$69.05
Fee Phemex: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$91.15
Costs to cover: 0.890%
Break-even: never at this rate

Slippage from Phemex: live order book, 4 min ago; SunX: live order book, 8 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, 4 min ago	1.50 bp	10.5 bp −$10	18.0 bp −$180	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	29.38 bp	33.4 bp −$33	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	66.363	−0.131%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.420	−0.045%	$152.6M	$164.1M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.420	−0.045%	$2K	$2.8M	20x
HTX XAG-USDT	0.0000%	4h	66.450	0.000%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	66.450	long leg	$1.5M	$250K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.350	−0.150%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.422	−0.043%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.349	−0.152%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.075%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.440	−0.015%	$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
Vest SI-PERP	+0.0046%	1h	66.847	+0.597%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.352	−0.147%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.300	−0.226%	$5.7M	$9.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.391	−0.089%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.355	−0.143%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.420	−0.045%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.385	−0.098%	$555K	$23.5M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.440	−0.015%	$1.3M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.366	−0.126%	$165.7M	$75.8M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.383	−0.101%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.390	−0.090%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.360	−0.135%	$126K	$23K	50x	as long as short
Aster XAGUSDT	+0.0129%	4h	66.423	−0.040%	$2.8M	$939K	100x	as long as short
Bybit XAGUSDT	+0.0130%	4h	66.460	+0.015%	$26.6M	$36.3M	150x	as long as short
Paradex XAG-USD-PERP	+0.0133%	8h	66.426	−0.037%	$30K	$1K	5x	as long as short
Hotstuff SILVER-PERP	+0.0144%	1h	66.367	−0.125%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0159%	4h	66.443	−0.011%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.434	−0.024%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0172%	4h	66.410	−0.060%	$102.7M	$158.5M	1000x	as long as short
Binance XAGUSDT	+0.0175%	4h	66.435	−0.022%	$192.5M	$706.9M	100x	as long as short
edgeX XAGUSDC	+0.0180%	4h	66.431	−0.028%	$674K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	−0.060%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.433	−0.025%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0207%	8h	66.440	−0.015%	$28.0M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.390	−0.091%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.389	−0.092%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.390	−0.090%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0244%	4h	66.430	−0.030%	$23.9M	$46.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.440	−0.015%	$397K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.416	−0.051%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.425	−0.038%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.395	−0.083%	$766K	$478K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.420	−0.045%	$50K	$325K	20x	as long as short