Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0066%/8h= +7.2% APRpaid last 24h +0.018%

Price spread now: Binance against QFEX+0.030%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.015%+$2 on $10k

Price spread, last 2 days (all we have)+0.024%+$2 · spread now +0.030%, 7d avg +0.014%

Together, before fees+0.039%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	66.230	0.0016	pay 0.0002% / 1h	16m 09s	$144K	$2.8M	20x
Short	Binance XAGUSDT	66.250	0.0082	get 0.0041% / 4h	1h 16m	$189.7M	$728.5M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. 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 QFEXbpFee BinancebpOrdersPrice spread, now +0.030%Rate

Funding earned: $13.85
Price spread: +0.030% → +0.014%: $1.56
Slippage, 4 orders: −$8.79
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$13.38
Costs to cover: 0.288%
Break-even: 13.8 days

Slippage from QFEX: live order book, 6 min ago; Binance: live order book, 13 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 QFEX live order book, 6 min ago	2.27 bp	10.0 bp −$10	10.3 bp −$103	10.3 bp −$1,028	14.7 bp −$7,327
Sell Binance live order book, 13 min ago	0.75 bp	5.8 bp −$6	5.8 bp −$58	8.5 bp −$849	17.5 bp −$8,745

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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.211	−0.029%	$766K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.083%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.260	+0.045%	$25.6M	$33.3M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.240	+0.014%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.240	+0.015%	$146.2M	$173.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.030%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.270	+0.060%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.260	+0.045%	$1.5M	$248K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.171	−0.090%	$120K	—	250x	as long as short
QFEX SILVER-USDlong	+0.0016%	1h	66.230	long leg	$144K	$2.8M	20x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	66.228	−0.003%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.167	−0.095%	$5.5M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.257%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.190	−0.060%	$792K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.671	+0.666%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.203	−0.041%	$165.0M	$88.4M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.206	−0.036%	$3.9M	$698K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.170	−0.091%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.150	−0.121%	$5.7M	$9.9M	25x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.195	−0.053%	$583K	$21.3M	8.1x	as long as short
Aster XAGUSDT	+0.0063%	4h	66.248	+0.027%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0064%	4h	66.237	+0.010%	$5.5M	$10.5M	—	as long as short
Bitget XAGUSDT	+0.0064%	4h	66.260	+0.045%	$24.0M	$47.8M	100x	as long as short
Hotstuff SILVER-PERP	+0.0072%	1h	66.203	−0.041%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0073%	1h	66.194	−0.054%	$56K	$26K	25x	as long as short
MEXC SILVER_USDT	+0.0080%	4h	66.240	+0.015%	$121.6M	$182.2M	1000x	as long as short
Binance XAGUSDTshort	+0.0082%	4h	66.250	+0.030%	$189.7M	$728.5M	100x
edgeX XAGUSDC	+0.0084%	4h	66.235	+0.008%	$672K	$315K	30x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.233	+0.004%	$48K	—	10x	as long as short
Pacifica XAG	+0.0100%	1h	66.184	−0.069%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.030%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.180	−0.075%	$113K	$26K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.220	−0.015%	$1.9M	$862K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0110%	4h	66.240	+0.015%	$390K	$1.5M	25x	as long as short
Paradex XAG-USD-PERP	+0.0116%	8h	66.224	−0.008%	$30K	$1K	5x	as long as short
BloFin XAG-USDT	+0.0123%	4h	66.250	+0.030%	$2.5M	$847K	100x	as long as short
Aftermath Perps XAGUSD	+0.0125%	1h	66.196	−0.051%	$80K	$40K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.229	−0.002%	$5.2M	$11.0M	25x	as long as short
Hibachi XAG/USDT-P	+0.0144%	1h	66.193	−0.055%	$20K	$22K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0172%	8h	66.260	+0.045%	$27.3M	$66.4M	50x	as long as short
Nado XAG-PERP	+0.0221%	1h	66.181	−0.074%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0264%	1h	66.244	+0.022%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0302% / S −0.0300%	1h	66.245	+0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.220	−0.015%	$51K	$359K	20x	as long as short