Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0096%/8h= +10.6% APRpaid last 24h +0.022%

Price spread now: BloFin against QFEX+0.015%7-day average +0.026% · 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−$28as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on QFEX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.100%−$10 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now +0.015%, 7d avg +0.026%

Together, before fees−0.087%−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.026%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.100%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	65.210	0.0044	pay 0.0006% / 1h	13m 13s	$161K	$1.4M	20x
Short	BloFin XAG-USDT	65.220	0.0141	get 0.0070% / 4h	13m 13s	$2.7M	$626K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.015%Rate

Funding earned: $20.24
Price spread: +0.015% → +0.026%: −$1.03
Slippage, 4 orders: −$4.61
Fee QFEX: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$7.4
Costs to cover: 0.266%
Break-even: 9.6 days

Slippage from QFEX: live order book, 3 min ago; BloFin: 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 QFEX live order book, 3 min ago	1.54 bp	6.5 bp −$7	6.5 bp −$65	9.3 bp −$930	doesn't fit
Sell BloFin live order book, 5 min ago	0.77 bp	6.8 bp −$7	6.8 bp −$68	8.8 bp −$885	17.8 bp −$8,915

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
Ondo Perps XAG-USD.P	−0.0028%	1h	65.120	−0.138%	$5.6M	$9.8M	25x	as long as short
Hotstuff SILVER-PERP	−0.0016%	1h	65.081	−0.198%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.145	−0.100%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.280	+0.107%	$27.7M	$39.1M	150x	as long as short
Variational Omni XAG	0.0000%	4h	65.125	−0.130%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.260	+0.077%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.290	+0.123%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.270	+0.092%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.195	−0.023%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0026%	4h	65.270	+0.092%	$140.6M	$181.4M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.267	+0.087%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.199	−0.016%	$5.0M	$11.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.825%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0034%	4h	65.260	+0.077%	$126.7M	$162.1M	1000x	as long as short
Binance XAGUSDT	+0.0035%	4h	65.279	+0.106%	$191.8M	$755.7M	100x	as long as short
Aster XAGUSDT	+0.0039%	4h	65.270	+0.092%	$2.7M	$976K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.110	−0.153%	$783K	$2.9M	40x	as long as short
QFEX SILVER-USDlong	+0.0044%	1h	65.210	long leg	$161K	$1.4M	20x
edgeX XAGUSDC	+0.0046%	4h	65.107	−0.157%	$663K	$314K	30x	as long as short
Vest SI-PERP	+0.0046%	1h	65.639	+0.658%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.253	+0.065%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.221	+0.017%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.208	−0.003%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.170	−0.061%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.101	−0.167%	$56K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	65.221	+0.017%	$173.4M	$84.8M	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.197	−0.020%	$483K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.368%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.130	−0.123%	$463K	$600K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.230	+0.031%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.070	−0.215%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.237	+0.042%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDTshort	+0.0141%	4h	65.220	+0.015%	$2.7M	$626K	100x
GRVT XAG_USDT_Perp	+0.0144%	4h	65.139	−0.109%	$394K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0158%	1h	65.215	+0.008%	$1.2M	$4.7M	10x	as long as short
Bitget XAGUSDT	+0.0160%	4h	65.270	+0.092%	$23.2M	$44.9M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0172%	8h	65.270	+0.092%	$28.5M	$70.5M	50x	as long as short
Lighter XAG	+0.0184%	1h	65.264	+0.083%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0193%	1h	65.109	−0.154%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0210%	1h	65.250	+0.061%	$65K	$396K	20x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.106	−0.160%	$20K	$17K	10x	as long as short
Bullet SILVER-USD	+0.0236%	1h	65.256	+0.071%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.115	−0.146%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.239	+0.045%	$1.0M	$869K	25x	as long as short