Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.019%

Price spread now: tradeXYZ against Phemex−0.056%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

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

costs, in and out, $10k−$410.409% of the position

Long on Phemex Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 4 days (all we have)−0.114%−$11 · spread now −0.056%, 7d avg −0.096%

Together, before fees+0.018%+ Points / potential airdroptradeXYZ: Active · farm board+$2 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 tradeXYZ is 0.040% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.096%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	66.060	0	get 0.0000% / 4h	3h 03m	$1.5M	$317K	100x
Short	tradeXYZ xyz:SILVER	66.023	0.0060	get 0.0008% / 1h	3m 02s	$166.3M	$73.9M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.056%Rate

Funding earned: $12.62
Price spread: −0.056% → −0.096%: $4.03
Slippage, 4 orders: −$10.94
Fee Phemex: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$24.3
Costs to cover: 0.409%
Break-even: 20.5 days

Slippage from Phemex: live order book, 5 min ago; tradeXYZ: live order book, 6 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, 5 min ago	1.51 bp	10.4 bp −$10	13.7 bp −$137	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 6 min ago	0.08 bp	9.4 bp −$9	11.1 bp −$111	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
Ondo Perps XAG-USD.P	−0.0050%	1h	65.930	−0.197%	$5.7M	$9.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.108%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.060	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.140	+0.121%	$1.1M	$1.0M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	66.060	long leg	$1.5M	$317K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.996	−0.097%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.050	−0.015%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.998	−0.094%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.515%	$11K	$94K	52x	as long as short
Hotstuff SILVER-PERP	+0.0040%	1h	66.041	−0.029%	$35K	$21K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.080	+0.030%	$795K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0044%	4h	66.070	+0.015%	$149.8M	$164.5M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.482	+0.639%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.029	−0.047%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.993	−0.101%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	66.034	−0.040%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.030	−0.045%	$114K	$2.7M	20x	as long as short
tradeXYZ xyz:SILVERshort	+0.0060%	1h	66.023	−0.056%	$166.3M	$73.9M	25x
Phoenix SILVER	+0.0073%	1h	65.995	−0.098%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0074%	24h	66.024	−0.054%	$530K	$26.7M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.052	−0.012%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.984	−0.115%	$469K	$604K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.030	−0.045%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.990	−0.106%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0109%	4h	66.080	+0.030%	$27.8M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0120%	4h	66.069	+0.014%	$2.7M	$871K	100x	as long as short
Lighter XAG	+0.0120%	1h	66.052	−0.011%	$5.2M	$10.9M	25x	as long as short
Variational Omni XAG	+0.0164%	4h	66.053	−0.010%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.037	−0.035%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0174%	4h	66.060	0.000%	$191.1M	$703.2M	100x	as long as short
MEXC SILVER_USDT	+0.0174%	4h	66.060	0.000%	$115.2M	$152.9M	1000x	as long as short
edgeX XAGUSDC	+0.0183%	4h	66.054	−0.010%	$670K	$311K	30x	as long as short
Nado XAG-PERP	+0.0187%	1h	66.010	−0.075%	$1.4M	$5.8M	10x	as long as short
Aftermath Perps XAGUSD	+0.0199%	1h	66.027	−0.050%	$79K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.040	−0.030%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.980	−0.121%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0210%	4h	66.073	+0.020%	$395K	$1.5M	25x	as long as short
BloFin XAG-USDT	+0.0221%	4h	66.040	−0.030%	$2.6M	$570K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0223%	8h	66.060	0.000%	$27.8M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.060	0.000%	$23.9M	$44.9M	100x	as long as short
Bullet SILVER-USD	+0.0237%	1h	66.063	+0.004%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	66.042	−0.028%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0440%	1h	66.065	+0.008%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	66.029	−0.047%	$911K	$685K	25x	as long as short