Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0061%/8h= +6.7% APRpaid last 24h +0.007%

Price spread now: Bybit against QFEX+0.045%7-day average +0.060% · 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−$32as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.002%$0 on $10k

Price spread, last 7 days−0.006%−$1 · spread now +0.045%, 7d avg +0.060%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.060%, 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	66.210	0.0062	pay 0.0008% / 1h	12m 27s	$115K	$2.7M	20x
Short	Bybit XAGUSDT	66.240	0.0124	get 0.0062% / 4h	1h 12m	$26.9M	$36.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.045%Rate

Funding earned: $12.84
Price spread: +0.045% → +0.060%: −$1.46
Slippage, 4 orders: −$9.21
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$18.83
Costs to cover: 0.302%
Break-even: 17.3 days

Slippage from QFEX: live order book, 5 min ago; Bybit: 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	2.26 bp	8.7 bp −$9	8.8 bp −$88	10.1 bp −$1,007	doesn't fit
Sell Bybit live order book, 1 min ago	0.75 bp	6.3 bp −$6	8.9 bp −$89	13.4 bp −$1,340	54.7 bp −$27.4K

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	66.212	+0.002%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.240	+0.045%	$149.9M	$165.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.060%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.106%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.270	+0.091%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.180	−0.045%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.221	+0.017%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.168	−0.064%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.287%	$11K	$94K	52x	as long as short
Hotstuff SILVER-PERP	+0.0040%	1h	66.209	−0.002%	$35K	$21K	20x	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	66.210	0.000%	$796K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.660	+0.680%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.177	−0.050%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.177	−0.050%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.140	−0.106%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USDlong	+0.0062%	1h	66.210	long leg	$115K	$2.7M	20x
Kalshi KXSILVERPERP	+0.0065%	24h	66.207	−0.005%	$543K	$24.8M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.217	+0.011%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0092%	1h	66.182	−0.042%	$165.9M	$73.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.172	−0.057%	$471K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	0.000%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.270	+0.091%	$113K	$30K	50x	as long as short
Bybit XAGUSDTshort	+0.0124%	4h	66.240	+0.045%	$26.9M	$36.1M	150x
Paradex XAG-USD-PERP	+0.0125%	8h	66.226	+0.023%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0127%	4h	66.230	+0.030%	$2.7M	$874K	100x	as long as short
BloFin XAG-USDT	+0.0165%	4h	66.280	+0.106%	$2.6M	$552K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.242	+0.048%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0180%	4h	66.272	+0.094%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.230	+0.030%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.218	+0.012%	$5.2M	$10.5M	25x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.220	+0.015%	$191.9M	$705.8M	100x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.230	+0.030%	$106.2M	$153.9M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.220	+0.015%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0202%	4h	66.279	+0.104%	$672K	$315K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0215%	8h	66.220	+0.015%	$27.8M	$65.9M	50x	as long as short
Nado XAG-PERP	+0.0219%	1h	66.183	−0.040%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0226%	1h	66.237	+0.041%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0240%	4h	66.220	+0.015%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0260%	4h	66.300	+0.136%	$390K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0270%	1h	66.226	+0.024%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.198	−0.018%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.230	+0.030%	$50K	$322K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0356% / S −0.0381%	1h	66.255	+0.068%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.221	+0.017%	$914K	$671K	25x	as long as short