Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0065%/8h= +7.2% APRpaid last 24h +0.018%

Price spread now: MEXC against QFEX+0.030%7-day average +0.036% · 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−$17as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on QFEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days−0.009%−$1 · spread now +0.030%, 7d avg +0.036%

Together, before fees+0.010%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.036%, 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	66.550	0.0051	pay 0.0006% / 1h	4m 17s	$115K	$2.8M	20x
Short	MEXC SILVER_USDT	66.570	0.0116	get 0.0058% / 4h	3h 04m	$108.8M	$160.6M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.030%Rate

Funding earned: $13.73
Price spread: +0.030% → +0.036%: −$0.6
Slippage, 4 orders: −$6.01
Fee QFEX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$2.89
Costs to cover: 0.160%
Break-even: 8.5 days

Slippage from QFEX: live order book, 3 min ago; MEXC: 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	2.25 bp	7.3 bp −$7	7.3 bp −$73	8.3 bp −$831	doesn't fit
Sell MEXC live order book, 5 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	1.0 bp −$104	4.8 bp −$2,378

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	66.473	−0.116%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.580	+0.045%	$25.6M	$35.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.580	+0.045%	$155.1M	$169.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.580	+0.045%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.620	+0.105%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.580	+0.045%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.498	−0.078%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.539	−0.017%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.495	−0.083%	$5.4M	$12.4M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.523	−0.041%	$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
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.225%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.570	+0.030%	$801K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.993	+0.666%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.497	−0.080%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.535	−0.023%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.487	−0.095%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.460	−0.135%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USDlong	+0.0051%	1h	66.550	long leg	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0059%	24h	66.513	−0.056%	$563K	$21.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0070%	1h	66.533	−0.026%	$165.8M	$84.7M	25x	as long as short
Aster XAGUSDT	+0.0095%	4h	66.575	+0.037%	$2.8M	$1.1M	100x	as long as short
BloFin XAG-USDT	+0.0098%	4h	66.550	0.000%	$2.6M	$696K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.506	−0.066%	$474K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.530	−0.030%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.480	−0.105%	$126K	$24K	50x	as long as short
Variational Omni XAG	+0.0102%	4h	66.563	+0.019%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0111%	8h	66.548	−0.003%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.559	+0.014%	$48K	—	10x	as long as short
MEXC SILVER_USDTshort	+0.0116%	4h	66.570	+0.030%	$108.8M	$160.6M	1000x
Binance XAGUSDT	+0.0118%	4h	66.566	+0.024%	$193.5M	$717.0M	100x	as long as short
edgeX XAGUSDC	+0.0119%	4h	66.554	+0.006%	$675K	$314K	30x	as long as short
Lighter XAG	+0.0128%	1h	66.548	−0.004%	$5.4M	$10.6M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.567	+0.026%	$1.3M	$4.2M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.550	+0.001%	$402K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.530	−0.030%	$1.9M	$934K	20x	as long as short
Nado XAG-PERP	+0.0187%	1h	66.515	−0.052%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0192%	4h	66.570	+0.030%	$24.6M	$47.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0195%	8h	66.560	+0.015%	$28.0M	$66.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0206%	1h	66.520	−0.046%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0250%	1h	66.576	+0.039%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.500	−0.075%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.575	+0.038%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.540	−0.015%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0488%	1h	66.533	−0.025%	$765K	$564K	25x	as long as short