Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: Phemex against SoDEX+0.188%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Phemex is 0.188% dearer against SoDEX than usual: you sell high and buy low (spread +0.188% now, against zero (this spread has no 7-day history yet)): +$19 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 13 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SILVER-USD	64.838	0.0050	pay 0.0006% / 1h	21m 28s	$3K	$6K	20x
Short	Phemex XAGUSDT	64.960	0	get 0.0000% / 4h	3h 21m	$1.5M	$346K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against SoDEX. 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 SoDEXbpFee PhemexbpOrdersPrice spread, now +0.188%Rate

Funding earned: −$10.5
Price spread: +0.188% → 0.000%: $18.82
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$11.68
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; Phemex: live order book, 1 min ago. Net counts fees only.

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 SoDEX no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	3.08 bp	11.9 bp −$12	17.6 bp −$176	doesn't fit	doesn't fit

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	64.859	+0.032%	$12K	$6K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	64.930	+0.142%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	64.980	+0.219%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	64.960	+0.188%	$1.5M	$346K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.861	+0.036%	$117K	—	250x	as long as short
Gate XAG_USDT	+0.0012%	4h	65.020	+0.281%	$138.8M	$187.7M	100x	as long as short
Variational Omni XAG	+0.0021%	4h	64.652	−0.286%	$5.4M	$9.1M	—	as long as short
Lighter RH XAG	+0.0032%	1h	64.935	+0.149%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.873	+0.054%	$5.0M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−0.364%	$11K	$240	52x	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	64.930	+0.142%	$781K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.369	+0.819%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	64.950	+0.173%	$446K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	64.933	+0.147%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USDlong	+0.0050%	1h	64.838	long leg	$3K	$6K	20x
Ondo Perps XAG-USD.P	+0.0050%	1h	64.850	+0.019%	$5.6M	$10.0M	25x	as long as short
edgeX XAGUSDC	+0.0071%	4h	64.801	−0.058%	$660K	$314K	30x	as long as short
Paradex XAG-USD-PERP	+0.0075%	8h	64.937	+0.152%	$29K	$166	5x	as long as short
MEXC SILVER_USDT	+0.0078%	4h	64.980	+0.219%	$123.6M	$160.1M	1000x	as long as short
Aevo XAG-PERP	+0.0080%	1h	65.007	+0.261%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.840	+0.003%	$1.6M	$1.5M	20x	as long as short
Kalshi KXSILVERPERP	+0.0086%	24h	64.895	+0.088%	$488K	$35.1M	8.1x	as long as short
Binance XAGUSDT	+0.0096%	4h	65.000	+0.250%	$198.2M	$787.8M	100x	as long as short
Pacifica XAG	+0.0100%	1h	64.882	+0.068%	$463K	$591K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	64.910	+0.111%	$25.0M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.750	−0.136%	$111K	$19K	50x	as long as short
Aster XAGUSDT	+0.0102%	4h	64.959	+0.186%	$2.6M	$1.0M	100x	as long as short
Phoenix SILVER	+0.0111%	1h	64.615	−0.344%	$55K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0128%	1h	64.913	+0.116%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0136%	1h	64.952	+0.176%	$173.1M	$88.9M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.929	+0.140%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0165%	1h	64.885	+0.072%	$1.2M	$4.2M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	65.010	+0.265%	$29.0M	$75.9M	50x	as long as short
Bitget XAGUSDT	+0.0216%	4h	64.970	+0.204%	$22.8M	$48.0M	100x	as long as short
Aftermath Perps XAGUSD	+0.0218%	1h	64.798	−0.062%	$78K	$37K	10x	as long as short
Lighter XAG	+0.0232%	1h	64.932	+0.145%	$5.2M	$11.3M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	64.825	−0.020%	$92K	—	111x	as long as short
BloFin XAG-USDT	+0.0283%	4h	64.780	−0.089%	$2.7M	$695K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0298%	4h	64.847	+0.013%	$386K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	65.001	+0.251%	$45K	$75K	10x	as long as short
Bybit XAGUSDT	+0.0366%	4h	65.020	+0.281%	$30.2M	$43.7M	150x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0367%	1h	64.920	+0.126%	$76K	$434K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	64.890	+0.080%	$20K	$15K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0419%	1h	64.927	+0.138%	$1.0M	$894K	25x	as long as short