Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.010%

Price spread now: Bybit against Polymarket Perps+0.147%47s7-day average +0.112% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.238% of the position

Long on Polymarket Perps Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.147%, 7d avg +0.112%

Together, before fees−0.111%−$11 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 Bybit is 0.035% dearer against Polymarket Perps than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.112%. Mind the row above: over the last 7 days funding on this pair cost −0.051%, so the current rate has only just turned in your favour. The two prices were read 47 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	Polymarket Perps SILVER-USD	65.364	0.0050	pay 0.0006% / 1h	13m 35s	$3.9M	$712K	20x
Short	Bybit XAGUSDT	65.460	0.0126	get 0.0063% / 4h	2h 13m	$28.7M	$39.2M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Polymarket Perps. 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 Polymarket PerpsbpFee BybitbpOrdersPrice spread, now +0.147%Rate

Funding earned: $15.88
Price spread: +0.147% → +0.112%: $3.53
Slippage, 4 orders: −$4.84
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$4.43
Costs to cover: 0.238%
Break-even: 9.0 days

Slippage from Polymarket Perps: live order book, 5 min ago; Bybit: live order book, 5 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 Polymarket Perps live order book, 5 min ago	1.15 bp	6.2 bp −$6	6.6 bp −$66	8.7 bp −$871	doesn't fit
Sell Bybit live order book, 5 min ago	0.76 bp	6.3 bp −$6	9.1 bp −$91	19.3 bp −$1,926	62.0 bp −$31.0K

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	65.424	+0.093%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.450	+0.132%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.510	+0.223%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.460	+0.147%	$1.5M	$280K	100x	as long as short
Ondo Perps XAG-USD.P	+0.0001%	1h	65.330	−0.052%	$5.6M	$9.6M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.422	+0.089%	$118K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.461	+0.148%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.432	+0.104%	$4.7M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.390	+0.040%	$5.1M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.585%	$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
Phoenix SILVER	+0.0036%	1h	65.388	+0.037%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	+0.070%	$787K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.824	+0.704%	—	—	25x	as long as short
Gate XAG_USDT	+0.0048%	4h	65.460	+0.147%	$144.7M	$178.4M	100x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	65.364	long leg	$3.9M	$712K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.397	+0.050%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.450	+0.132%	$157K	$2.8M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.362	−0.003%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0065%	8h	65.440	+0.117%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERP	+0.0076%	24h	65.420	+0.086%	$476K	$29.0M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0081%	1h	65.423	+0.090%	$170.6M	$82.5M	25x	as long as short
Aster XAGUSDT	+0.0090%	4h	65.450	+0.132%	$2.7M	$953K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.389	+0.038%	$467K	$626K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.420	+0.086%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.380	+0.024%	$112K	$30K	50x	as long as short
Bybit XAGUSDTshort	+0.0126%	4h	65.460	+0.147%	$28.7M	$39.2M	150x
Lighter XAG	+0.0128%	1h	65.437	+0.112%	$5.3M	$11.2M	25x	as long as short
Variational Omni XAG	+0.0131%	4h	65.414	+0.077%	$5.5M	$9.6M	—	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.453	+0.137%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0140%	4h	65.440	+0.116%	$120.9M	$160.7M	1000x	as long as short
Binance XAGUSDT	+0.0140%	4h	65.440	+0.116%	$189.5M	$743.8M	100x	as long as short
edgeX XAGUSDC	+0.0152%	4h	65.410	+0.070%	$666K	$314K	30x	as long as short
Nado XAG-PERP	+0.0159%	1h	65.365	+0.002%	$1.3M	$5.6M	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.150	−0.327%	$1.6M	$1.3M	20x	as long as short
Hibachi XAG/USDT-P	+0.0192%	1h	65.300	−0.098%	$20K	$19K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0198%	4h	65.408	+0.067%	$385K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0209%	1h	65.390	+0.040%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.460	+0.147%	$23.7M	$46.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	65.450	+0.132%	$27.9M	$69.6M	50x	as long as short
Bullet SILVER-USD	+0.0245%	1h	65.470	+0.162%	$43K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0361%	1h	65.460	+0.147%	$66K	$372K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0361%	1h	65.465	+0.155%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0382%	4h	65.390	+0.040%	$2.6M	$628K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0471%	1h	65.416	+0.079%	$913K	$756K	25x	as long as short