Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0005%/8h= −0.6% APRpaid last 24h +0.021%

Price spread now: Variational Omni against Phoenix+0.071%84s7-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 Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.071% dearer against Phoenix than usual: you sell high and buy low, +$7 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 84 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SILVER	65.317	0.0061	pay 0.0008% / 1h	31m 56s	$56K	$31K	25x
Short	Variational Omni XAG	65.364	0.0056	get 0.0028% / 4h	1h 31m	$5.5M	$9.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.071%Rate

Funding earned: −$1.11
Price spread: +0.071% → 0.000%: $7.13
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$0.98
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 2 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 Variational Omni RFQ quote, 2 min ago	2.58 bp	doesn't fit	2.7 bp −$27	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
Hibachi XAG/USDT-P	−0.0160%	1h	65.313	−0.007%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0086%	1h	65.230	−0.133%	$5.6M	$9.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.033%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.380	+0.096%	$28.3M	$39.4M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.380	+0.096%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.410	+0.142%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.380	+0.096%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.308	−0.014%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0020%	4h	65.380	+0.096%	$141.3M	$181.7M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.361	+0.068%	$4.6M	$9.8M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.312	−0.008%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.658%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.390	+0.112%	$787K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0044%	4h	65.350	+0.051%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.781	+0.710%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.340	+0.035%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.336	+0.029%	$170.3M	$83.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.322	+0.008%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.310	−0.011%	$3K	$6K	20x	as long as short
Variational Omni XAGshort	+0.0056%	4h	65.364	+0.071%	$5.5M	$9.4M	—
Paradex XAG-USD-PERP	+0.0056%	8h	65.349	+0.049%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.369	+0.080%	$1.3M	$4.9M	20x	as long as short
Phoenix SILVERlong	+0.0061%	1h	65.317	long leg	$56K	$31K	25x
Hotstuff SILVER-PERP	+0.0064%	1h	65.346	+0.044%	$35K	$21K	20x	as long as short
MEXC SILVER_USDT	+0.0068%	4h	65.350	+0.051%	$116.5M	$157.3M	1000x	as long as short
Binance XAGUSDT	+0.0069%	4h	65.368	+0.078%	$190.2M	$762.9M	100x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.354	+0.056%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.326	+0.014%	$480K	$30.8M	8.1x	as long as short
edgeX XAGUSDC	+0.0084%	4h	65.366	+0.075%	$665K	$313K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.315	−0.003%	$466K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.330	+0.020%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.330	+0.020%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0120%	4h	65.406	+0.136%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	+0.096%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0126%	1h	65.310	−0.011%	$1.2M	$5.5M	10x	as long as short
Lighter XAG	+0.0128%	1h	65.369	+0.080%	$5.4M	$11.4M	25x	as long as short
Bullet SILVER-USD	+0.0173%	1h	65.371	+0.083%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0182%	4h	65.370	+0.081%	$23.8M	$46.4M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0186%	8h	65.370	+0.081%	$27.9M	$71.0M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.350	+0.051%	$65K	$377K	20x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.342	+0.038%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.365	+0.073%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0277%	4h	65.400	+0.127%	$2.6M	$610K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.329	+0.018%	$915K	$746K	25x	as long as short