Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: Phemex against StandX+0.196%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$390.394% of the position

Long on StandX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)−0.046%−$5 · spread now +0.196%, 7d avg +0.058%

Together, before fees−0.122%+ Points / potential airdropStandX: Active · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.138% dearer against StandX than usual: you sell high and buy low (spread +0.196% now, against its 7-day average of +0.058%): +$14 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 12 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX XAG-USD	66.220	0.0040	pay 0.0005% / 1h	30m 54s	$796K	$2.9M	40x
Short	Phemex XAGUSDT	66.350	0	get 0.0000% / 4h	1h 30m	$1.5M	$251K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against StandX. 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 StandXbpFee PhemexbpOrdersPrice spread, now +0.196%Rate

Funding earned: −$8.4
Price spread: +0.196% → +0.058%: $13.83
Slippage, 4 orders: −$19.39
Fee StandX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$33.96
Costs to cover: 0.394%
Break-even: never at this rate

Slippage from StandX: live order book, 3 min ago; Phemex: 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 StandX live order book, 3 min ago	2.26 bp	7.7 bp −$8	12.0 bp −$120	38.5 bp −$3,852	doesn't fit
Sell Phemex live order book, 2 min ago	2.26 bp	12.7 bp −$13	16.0 bp −$160	doesn't fit	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
dYdX XAG-USD	0.0000%	1h	66.218	−0.004%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.301	+0.122%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.360	+0.211%	$150.5M	$163.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.320	+0.151%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.360	+0.211%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.350	+0.196%	$1.5M	$251K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.260	+0.060%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.312	+0.138%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.270	+0.076%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.272%	$11K	$94K	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-USDlong	+0.0040%	1h	66.220	long leg	$796K	$2.9M	40x
Vest SI-PERP	+0.0046%	1h	66.748	+0.797%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.296	+0.115%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.266	+0.069%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.230	+0.015%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.320	+0.151%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.282	+0.094%	$571K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.244	+0.036%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.302	+0.124%	$166.0M	$74.1M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.276	+0.085%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.290	+0.106%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.210	−0.015%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0135%	8h	66.325	+0.158%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.340	+0.181%	$2.7M	$877K	100x	as long as short
BloFin XAG-USDT	+0.0149%	4h	66.300	+0.121%	$2.6M	$553K	100x	as long as short
Bybit XAGUSDT	+0.0166%	4h	66.370	+0.227%	$26.9M	$36.2M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.330	+0.166%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0179%	4h	66.321	+0.153%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.331	+0.167%	$1.3M	$4.5M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.328	+0.163%	$5.3M	$10.5M	25x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.330	+0.166%	$111.2M	$152.2M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.250	+0.045%	$1.9M	$980K	20x	as long as short
Binance XAGUSDT	+0.0193%	4h	66.358	+0.208%	$192.3M	$707.0M	100x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.273	+0.080%	$672K	$315K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.350	+0.196%	$27.8M	$65.9M	50x	as long as short
Nado XAG-PERP	+0.0217%	1h	66.279	+0.089%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.221	+0.001%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.360	+0.211%	$23.8M	$45.9M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.280	+0.091%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	66.224	+0.006%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0279%	1h	66.340	+0.181%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0348% / S −0.0368%	1h	66.335	+0.174%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.330	+0.166%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.303	+0.126%	$916K	$675K	25x	as long as short