Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.015%

Price spread now: SunX against Phoenix+0.087%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.135%−$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. SunX is 0.087% dearer against Phoenix than usual: you sell high and buy low (spread +0.087% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SILVER	66.492	0.0048	pay 0.0006% / 1h	28m 51s	$56K	$26K	25x
Short	SunX XAG-USDT	66.550	0	get 0.0000% / 4h	3h 28m	$2K	$3.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX against Phoenix. 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 PhoenixbpFee SunXbpOrdersPrice spread, now +0.087%Rate

Funding earned: −$10.08
Price spread: +0.087% → 0.000%: $8.72
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$16.36
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; SunX: live order book, 9 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 Phoenix no order-book sample	—	—	—	—	—
Sell SunX live order book, 9 min ago	501.01 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

Phoenix: 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	66.490	−0.003%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.570	+0.117%	$155.1M	$167.8M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.550	+0.087%	$2K	$3.0M	20x
HTX XAG-USDT	0.0000%	4h	66.600	+0.162%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.610	+0.177%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.472	−0.029%	$120K	—	250x	as long as short
Bybit XAGUSDT	+0.0007%	4h	66.570	+0.117%	$26.1M	$35.4M	150x	as long as short
Lighter RH XAG	+0.0032%	1h	66.525	+0.049%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.494	+0.002%	$5.4M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.138%	$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
StandX XAG-USD	+0.0040%	1h	66.540	+0.072%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.972	+0.722%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.505	+0.020%	$35K	$21K	20x	as long as short
Phoenix SILVERlong	+0.0048%	1h	66.492	long leg	$56K	$26K	25x
tradeXYZ xyz:SILVER	+0.0050%	1h	66.519	+0.041%	$165.4M	$85.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.502	+0.015%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.472	−0.030%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.440	−0.078%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.530	+0.057%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.498	+0.009%	$567K	$21.5M	8.1x	as long as short
BloFin XAG-USDT	+0.0083%	4h	66.570	+0.117%	$2.6M	$703K	100x	as long as short
Aster XAGUSDT	+0.0083%	4h	66.540	+0.072%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0087%	4h	66.545	+0.079%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0095%	8h	66.534	+0.063%	$30K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.570	+0.117%	$108.7M	$160.2M	1000x	as long as short
Binance XAGUSDT	+0.0099%	4h	66.555	+0.095%	$192.5M	$723.0M	100x	as long as short
edgeX XAGUSDC	+0.0099%	4h	66.546	+0.081%	$675K	$316K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.486	−0.009%	$474K	$623K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.510	+0.027%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.540	+0.072%	$127K	$24K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0104%	4h	66.559	+0.100%	$394K	$1.5M	25x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.531	+0.058%	$48K	—	10x	as long as short
Lighter XAG	+0.0112%	1h	66.540	+0.073%	$5.4M	$10.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.540	+0.072%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0165%	1h	66.484	−0.012%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	66.530	+0.057%	$24.5M	$48.1M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.132%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.550	+0.087%	$28.0M	$67.3M	50x	as long as short
Aftermath Perps XAGUSD	+0.0193%	1h	66.532	+0.060%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0220%	1h	66.543	+0.077%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.496	+0.006%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.545	+0.080%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	+0.042%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.507	+0.023%	$765K	$565K	25x	as long as short