Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0173%/8h= +18.9% APRpaid last 24h +0.051%

Price spread now: Bitget against QFEX+0.030%7-day average +0.050% · 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−$33as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.072%+$7 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.030%, 7d avg +0.050%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.020% cheaper against QFEX than usual: you would sell low and buy high (spread +0.030% now, against its 7-day average of +0.050%). If the spread goes back, that is −$2 on $10k: about 9 hours of funding at the current rate (+$5 a day). At the pace of the last 4 days (+0.072% in total) that is about 24 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	66.090	0.0051	pay 0.0006% / 1h	53m 01s	$114K	$2.7M	20x
Short	Bitget XAGUSDT	66.110	0.0224	get 0.0112% / 4h	2h 53m	$24.0M	$44.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.030%Rate

Funding earned: $36.29
Price spread: +0.030% → +0.050%: −$2.01
Slippage, 4 orders: −$8.81
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $3.47
Costs to cover: 0.308%
Break-even: 6.3 days

Slippage from QFEX: live order book, 5 min ago; Bitget: 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 QFEX live order book, 5 min ago	1.51 bp	7.9 bp −$8	8.0 bp −$80	9.5 bp −$950	doesn't fit
Sell Bitget live order book, 1 min ago	0.76 bp	6.8 bp −$7	8.8 bp −$88	15.6 bp −$1,562	38.8 bp −$19.4K

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	65.989	−0.154%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.110	+0.030%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.150	+0.091%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.110	+0.030%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.050	−0.060%	$120K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0008%	1h	65.990	−0.151%	$5.7M	$9.2M	25x	as long as short
RISEx XAG/USDC	+0.0030%	1h	66.110	+0.030%	$1.3M	$4.8M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.099	+0.013%	$4.8M	$9.2M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.050	−0.060%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.469%	$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	66.018	−0.109%	$56K	$26K	25x	as long as short
Hotstuff SILVER-PERP	+0.0040%	1h	66.052	−0.057%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.090	0.000%	$795K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.521	+0.652%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.075	−0.023%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.048	−0.064%	$3K	$6K	20x	as long as short
QFEX SILVER-USDlong	+0.0051%	1h	66.090	long leg	$114K	$2.7M	20x
Gate XAG_USDT	+0.0054%	4h	66.130	+0.061%	$149.8M	$153.9M	100x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	66.074	−0.024%	$30K	$1K	5x	as long as short
Kalshi KXSILVERPERP	+0.0074%	24h	66.065	−0.038%	$530K	$26.7M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.077	−0.020%	$166.6M	$73.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.026	−0.097%	$470K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.070	−0.030%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.000	−0.136%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0109%	4h	66.120	+0.045%	$27.8M	$36.4M	150x	as long as short
Aster XAGUSDT	+0.0116%	4h	66.100	+0.015%	$2.7M	$871K	100x	as long as short
Lighter XAG	+0.0144%	1h	66.106	+0.025%	$5.2M	$10.6M	25x	as long as short
Aevo XAG-PERP	+0.0152%	1h	66.097	+0.010%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0157%	4h	66.083	−0.010%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0166%	4h	66.110	+0.030%	$116.5M	$151.7M	1000x	as long as short
Binance XAGUSDT	+0.0167%	4h	66.117	+0.041%	$191.5M	$703.0M	100x	as long as short
edgeX XAGUSDC	+0.0170%	4h	66.074	−0.025%	$671K	$310K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.980	−0.166%	$1.8M	$1.0M	20x	as long as short
Nado XAG-PERP	+0.0195%	1h	66.067	−0.034%	$1.4M	$5.6M	10x	as long as short
Aftermath Perps XAGUSD	+0.0201%	1h	66.038	−0.079%	$79K	$36K	10x	as long as short
BloFin XAG-USDT	+0.0207%	4h	66.080	−0.015%	$2.6M	$570K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0210%	4h	66.063	−0.041%	$395K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0222%	8h	66.120	+0.045%	$27.7M	$64.7M	50x	as long as short
Bitget XAGUSDTshort	+0.0224%	4h	66.110	+0.030%	$24.0M	$44.9M	100x
Bullet SILVER-USD	+0.0255%	1h	66.110	+0.030%	$44K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0328%	1h	66.053	−0.056%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.100	+0.015%	$75K	$363K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0443%	1h	66.115	+0.038%	$106K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0466%	1h	66.079	−0.017%	$908K	$688K	25x	as long as short