Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h −0.009%

Price spread now: Gate against QFEX+0.030%7-day average +0.065% · 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−$35as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.012%−$1 on $10k

Price spread, last 7 days+0.022%+$2 · spread now +0.030%, 7d avg +0.065%

Together, before fees+0.011%+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Gate is 0.035% cheaper against QFEX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	66.220	0.0016	pay 0.0002% / 1h	20m 53s	$144K	$2.8M	20x
Short	Gate XAG_USDT	66.240	0	get 0.0000% / 4h	1h 20m	$146.3M	$172.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.030%Rate

Funding earned: −$3.44
Price spread: +0.030% → +0.065%: −$3.47
Slippage, 4 orders: −$6.97
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.88
Costs to cover: 0.320%
Break-even: never at this rate

Slippage from QFEX: live order book, 7 min ago; Gate: live order book, 3 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, 7 min ago	2.27 bp	7.3 bp −$7	7.3 bp −$73	8.9 bp −$888	13.9 bp −$6,968
Sell Gate live order book, 3 min ago	0.75 bp	9.2 bp −$9	10.5 bp −$105	13.1 bp −$1,313	16.6 bp −$8,318

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	66.208	−0.018%	$766K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.068%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.240	+0.030%	$25.6M	$33.3M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.241	+0.032%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.240	+0.030%	$146.3M	$172.9M	100x
SunX XAG-USDT	0.0000%	4h	66.260	+0.060%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.260	+0.060%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.260	+0.060%	$1.5M	$248K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.175	−0.068%	$120K	—	250x	as long as short
QFEX SILVER-USDlong	+0.0016%	1h	66.220	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	+0.012%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.170	−0.076%	$5.5M	$12.4M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.210	−0.015%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.272%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	−0.060%	$792K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.676	+0.689%	—	—	25x	as long as short
Aster XAGUSDT	+0.0049%	4h	66.246	+0.039%	$2.8M	$1.0M	100x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.197	−0.035%	$164.9M	$88.2M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.212	−0.012%	$3.9M	$694K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.174	−0.069%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.140	−0.121%	$5.7M	$9.9M	25x	as long as short
Bitget XAGUSDT	+0.0056%	4h	66.250	+0.045%	$23.9M	$47.7M	100x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.198	−0.033%	$583K	$21.3M	8.1x	as long as short
Variational Omni XAG	+0.0064%	4h	66.227	+0.010%	$5.5M	$10.5M	—	as long as short
Phoenix SILVER	+0.0073%	1h	66.167	−0.080%	$56K	$26K	25x	as long as short
BloFin XAG-USDT	+0.0075%	4h	66.250	+0.045%	$2.6M	$847K	100x	as long as short
edgeX XAGUSDC	+0.0077%	4h	66.226	+0.009%	$672K	$314K	30x	as long as short
MEXC SILVER_USDT	+0.0078%	4h	66.220	0.000%	$118.1M	$181.8M	1000x	as long as short
Binance XAGUSDT	+0.0078%	4h	66.240	+0.030%	$189.8M	$728.0M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.233	+0.019%	$48K	—	10x	as long as short
Pacifica XAG	+0.0100%	1h	66.183	−0.056%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.015%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.170	−0.076%	$113K	$26K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0102%	4h	66.231	+0.017%	$390K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.190	−0.045%	$1.9M	$859K	20x	as long as short
Paradex XAG-USD-PERP	+0.0118%	8h	66.225	+0.008%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0125%	1h	66.188	−0.048%	$80K	$40K	10x	as long as short
Hibachi XAG/USDT-P	+0.0128%	1h	66.174	−0.069%	$20K	$22K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.227	+0.010%	$5.1M	$10.9M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0167%	8h	66.250	+0.045%	$27.3M	$66.3M	50x	as long as short
Nado XAG-PERP	+0.0220%	1h	66.188	−0.048%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0267%	1h	66.244	+0.036%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0302% / S −0.0300%	1h	66.245	+0.038%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.220	0.000%	$51K	$359K	20x	as long as short