Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.012%

Price spread now: Gate against Polymarket Perps+0.081%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Polymarket Perps Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 7 days+0.034%+$3 · spread now +0.081%, 7d avg +0.117%

Together, before fees−0.015%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.036% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.117%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	66.526	0.0050	pay 0.0006% / 1h	6m 00s	$3.9M	$700K	20x
Short	Gate XAG_USDT	66.580	0	get 0.0000% / 4h	3h 06m	$155.1M	$169.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.081%Rate

Funding earned: −$10.5
Price spread: +0.081% → +0.117%: −$3.57
Slippage, 4 orders: −$5.89
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$42.96
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; Gate: live order book, 3 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, 3 min ago	0.68 bp	5.7 bp −$6	5.8 bp −$58	6.8 bp −$676	doesn't fit
Sell Gate live order book, 3 min ago	0.75 bp	8.3 bp −$8	9.0 bp −$90	13.1 bp −$1,305	16.3 bp −$8,151

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	66.473	−0.080%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.580	+0.081%	$25.6M	$35.6M	150x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.580	+0.081%	$155.1M	$169.4M	100x
SunX XAG-USDT	0.0000%	4h	66.570	+0.066%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.610	+0.126%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.600	+0.111%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.500	−0.039%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.533	+0.011%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.551	+0.037%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.497	−0.044%	$5.4M	$12.4M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.189%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.570	+0.066%	$801K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.988	+0.694%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.468	−0.087%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	66.526	long leg	$3.9M	$700K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.498	−0.042%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.460	−0.099%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.540	+0.021%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.503	−0.035%	$563K	$21.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	66.529	+0.005%	$165.8M	$84.6M	25x	as long as short
Aster XAGUSDT	+0.0094%	4h	66.567	+0.061%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.489	−0.056%	$474K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.520	−0.009%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.480	−0.069%	$126K	$24K	50x	as long as short
Variational Omni XAG	+0.0102%	4h	66.563	+0.055%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0110%	8h	66.537	+0.017%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.550	+0.036%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0116%	4h	66.560	+0.051%	$108.8M	$160.6M	1000x	as long as short
Binance XAGUSDT	+0.0116%	4h	66.569	+0.065%	$193.5M	$717.7M	100x	as long as short
Lighter XAG	+0.0128%	1h	66.556	+0.045%	$5.4M	$10.6M	25x	as long as short
edgeX XAGUSDC	+0.0132%	4h	66.514	−0.018%	$675K	$314K	30x	as long as short
BloFin XAG-USDT	+0.0139%	4h	66.540	+0.021%	$2.6M	$698K	100x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.556	+0.045%	$1.3M	$4.2M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.550	+0.037%	$402K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.530	+0.006%	$1.9M	$934K	20x	as long as short
Nado XAG-PERP	+0.0187%	1h	66.510	−0.025%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0190%	4h	66.570	+0.066%	$24.6M	$47.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.570	+0.066%	$28.0M	$66.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0204%	1h	66.505	−0.032%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0248%	1h	66.571	+0.068%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	66.509	−0.026%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.565	+0.059%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0488%	1h	66.533	+0.011%	$765K	$564K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.560	+0.051%	$50K	$336K	20x	as long as short