Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0174%/8h= +19.1% APRpaid last 24h +0.004%

Price spread now: GRVT against Polymarket Perps+0.166%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on Polymarket Perps Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.005%$0 on $10k

Price spread, last 7 days−0.079%−$8 · spread now +0.166%, 7d avg +0.117%

Together, before fees−0.084%+ Points / potential airdropGRVT: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and GRVT is 0.049% dearer against Polymarket Perps than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	66.491	0.0050	pay 0.0006% / 1h	46m 47s	$3.9M	$669K	20x
Short	GRVT XAG_USDT_Perp	66.601	0.0224	get 0.0112% / 4h	2h 46m	$398K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.166%Rate

Funding earned: $36.54
Price spread: +0.166% → +0.117%: $4.92
Slippage, 4 orders: −$8.1
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $16.37
Costs to cover: 0.251%
Break-even: 3.9 days

Slippage from Polymarket Perps: live order book, 2 min ago; GRVT: live order book, 1 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, 2 min ago	0.75 bp	4.8 bp −$5	5.9 bp −$59	8.2 bp −$823	doesn't fit
Sell GRVT live order book, 1 min ago	0.75 bp	8.1 bp −$8	8.2 bp −$82	38.3 bp −$3,830	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
Hotstuff SILVER-PERP	−0.0032%	1h	66.478	−0.020%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.486	−0.008%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.570	+0.119%	$154.8M	$161.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.530	+0.059%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.570	+0.119%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.580	+0.134%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.479	−0.018%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.548	+0.085%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.489	−0.004%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.137%	$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	66.590	+0.149%	$801K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.966	+0.714%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.496	+0.008%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	66.491	long leg	$3.9M	$669K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.491	0.000%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.450	−0.062%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.520	+0.044%	$115K	$2.7M	20x	as long as short
Bybit XAGUSDT	+0.0056%	4h	66.570	+0.119%	$26.4M	$36.0M	150x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.503	+0.018%	$566K	$23.0M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.568	+0.116%	$1.3M	$4.3M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.490	−0.002%	$473K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.520	+0.044%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.550	+0.089%	$127K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.119%	$2.6M	$624K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0104%	1h	66.533	+0.063%	$166.1M	$79.2M	25x	as long as short
Aster XAGUSDT	+0.0112%	4h	66.560	+0.104%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0120%	4h	66.595	+0.156%	$5.6M	$9.7M	—	as long as short
Paradex XAG-USD-PERP	+0.0121%	8h	66.559	+0.102%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0136%	1h	66.546	+0.083%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0140%	4h	66.550	+0.089%	$108.5M	$156.6M	1000x	as long as short
edgeX XAGUSDC	+0.0141%	4h	66.584	+0.141%	$676K	$315K	30x	as long as short
Binance XAGUSDT	+0.0144%	4h	66.560	+0.104%	$193.0M	$712.2M	100x	as long as short
Lighter XAG	+0.0168%	1h	66.525	+0.052%	$5.4M	$10.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.550	+0.089%	$1.9M	$966K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0195%	8h	66.550	+0.089%	$28.1M	$66.3M	50x	as long as short
Bitget XAGUSDT	+0.0216%	4h	66.560	+0.104%	$24.4M	$46.2M	100x	as long as short
Aftermath Perps XAGUSD	+0.0219%	1h	66.515	+0.036%	$80K	$39K	10x	as long as short
Nado XAG-PERP	+0.0220%	1h	66.467	−0.036%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perpshort	+0.0224%	4h	66.601	+0.166%	$398K	$1.5M	25x
Hibachi XAG/USDT-P	+0.0280%	1h	66.528	+0.055%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0285%	1h	66.542	+0.077%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.555	+0.096%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0461%	1h	66.510	+0.029%	$767K	$546K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.560	+0.104%	$50K	$331K	20x	as long as short