Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0049%/8h= +5.4% APRpaid last 24h +0.005%

Price spread now: GRVT against QFEX+0.099%7-day average +0.062% · 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−$25as in the Price arb table

costs, in and out, $10k−$290.287% of the position

Long on QFEX Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.024%+$2 on $10k

Price spread, last 7 days−0.114%−$11 · spread now +0.099%, 7d avg +0.062%

Together, before fees−0.090%+ Points / potential airdropGRVT: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and GRVT is 0.037% dearer against QFEX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.062%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	66.540	0.0051	pay 0.0006% / 1h	31m 06s	$115K	$2.8M	20x
Short	GRVT XAG_USDT_Perp	66.606	0.0100	get 0.0050% / 4h	3h 31m	$394K	$1.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.099%Rate

Funding earned: $10.37
Price spread: +0.099% → +0.062%: $3.72
Slippage, 4 orders: −$9.69
Fee QFEX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$14.6
Costs to cover: 0.287%
Break-even: 16.9 days

Slippage from QFEX: live order book, 6 min ago; GRVT: live order book, 2 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	1.50 bp	7.9 bp −$8	8.0 bp −$80	9.5 bp −$947	doesn't fit
Sell GRVT live order book, 2 min ago	0.75 bp	6.6 bp −$7	6.7 bp −$67	38.2 bp −$3,820	doesn't fit

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
Hotstuff SILVER-PERP	−0.0008%	1h	66.517	−0.035%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.490	−0.076%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.570	+0.045%	$26.1M	$35.3M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.560	+0.030%	$155.3M	$167.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.560	+0.030%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.610	+0.105%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.600	+0.090%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.490	−0.075%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.535	−0.007%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.490	−0.075%	$5.4M	$12.4M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.210%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.560	+0.030%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.990	+0.676%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.543	+0.005%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.516	−0.036%	$165.4M	$85.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.524	−0.024%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.488	−0.078%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.440	−0.150%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USDlong	+0.0051%	1h	66.540	long leg	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0059%	24h	66.503	−0.056%	$567K	$21.5M	8.1x	as long as short
Aster XAGUSDT	+0.0084%	4h	66.550	+0.015%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0087%	4h	66.545	+0.007%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0093%	8h	66.544	+0.006%	$30K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.550	+0.015%	$108.4M	$160.2M	1000x	as long as short
Binance XAGUSDT	+0.0099%	4h	66.548	+0.012%	$192.7M	$722.2M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.496	−0.066%	$475K	$626K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.520	−0.030%	$24.6M	$4.5M	75x	as long as short
GRVT XAG_USDT_Perpshort	+0.0100%	4h	66.606	+0.099%	$394K	$1.5M	25x
ApeX Omni XAGUSDT	+0.0100%	1h	66.540	0.000%	$127K	$24K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.540	0.000%	$48K	—	10x	as long as short
BloFin XAG-USDT	+0.0111%	4h	66.600	+0.090%	$2.6M	$703K	100x	as long as short
Lighter XAG	+0.0112%	1h	66.544	+0.006%	$5.4M	$10.5M	25x	as long as short
edgeX XAGUSDC	+0.0117%	4h	66.616	+0.114%	$676K	$315K	30x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.553	+0.020%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0164%	1h	66.500	−0.060%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0168%	4h	66.550	+0.015%	$24.5M	$48.1M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.060%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.560	+0.030%	$27.9M	$67.3M	50x	as long as short
Aftermath Perps XAGUSD	+0.0190%	1h	66.537	−0.004%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0217%	1h	66.567	+0.041%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.519	−0.032%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.555	+0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.540	0.000%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.514	−0.039%	$765K	$565K	25x	as long as short