Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Bybit against SunX+0.030%46s7-day average −0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$800.797% of the position

Long on SunX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 3 days (all we have)−0.113%−$11 · spread now +0.030%, 7d avg −0.009%

Together, before fees−0.062%−$6 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.039% dearer against SunX than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.009%. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.020	0	get 0.0000% / 4h	2h 22m	$2K	$3.4M	20x
Short	Bybit XAGUSDT	66.040	0	get 0.0000% / 4h	2h 22m	$25.8M	$36.9M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SunX. 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 SunXbpFee BybitbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → −0.009%: $3.94
Slippage, 4 orders: −$60.7
Fee SunX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$75.76
Costs to cover: 0.797%
Break-even: never at this rate

Slippage from SunX: live order book, 5 min ago; Bybit: live order book, 1 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 SunX live order book, 5 min ago	29.59 bp	33.6 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 1 min ago	0.76 bp	6.3 bp −$6	11.4 bp −$114	17.1 bp −$1,715	68.3 bp −$34.1K

XAG on 43 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	65.992	−0.042%	$15K	—	5x	as long as short
Bybit XAGUSDTshort	0.0000%	4h	66.040	+0.030%	$25.8M	$36.9M	150x
Gate XAG_USDT	0.0000%	4h	66.030	+0.015%	$147.5M	$184.7M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.020	long leg	$2K	$3.4M	20x
Deribit SILVER_USDC-PERPETUAL	0.0000%	1h	66.040	+0.030%	$91K	$360K	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.060	+0.061%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.060	+0.061%	$1.5M	$250K	100x	as long as short
Aftermath Perps XAGUSD	+0.0022%	1h	66.009	−0.017%	$79K	$40K	10x	as long as short
Ondo Perps XAG-USD.P	+0.0028%	1h	65.970	−0.076%	$5.5M	$9.8M	25x	as long as short
Nado XAG-PERP	+0.0029%	1h	66.028	+0.012%	$1.3M	$6.6M	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAG	+0.0032%	1h	66.018	−0.003%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.022	+0.003%	$4.4M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.038	+0.027%	$5.3M	$15.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.576%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.970	−0.076%	$715K	$2.8M	40x	as long as short
Bullet SILVER-USD	+0.0042%	1h	66.038	+0.027%	$44K	$74K	10x	as long as short
Vest SI-PERP	+0.0046%	1h	66.500	+0.727%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.015	−0.008%	$164.7M	$96.3M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.005	−0.023%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.013	−0.011%	$4K	$5K	20x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	65.968	−0.079%	$637K	$21.8M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	66.027	+0.011%	$56K	$26K	25x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.020	0.000%	$143K	$2.8M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.031	+0.016%	$472K	$647K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.000	−0.030%	$24.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.020	0.000%	$112K	$85K	50x	as long as short
Aster XAGUSDT	+0.0121%	4h	66.044	+0.036%	$2.8M	$1.2M	100x	as long as short
Paradex XAG-USD-PERP	+0.0128%	8h	66.038	+0.028%	$30K	$1K	5x	as long as short
Bitget XAGUSDT	+0.0154%	4h	66.030	+0.015%	$23.7M	$53.0M	100x	as long as short
Binance XAGUSDT	+0.0164%	4h	66.032	+0.018%	$191.6M	$803.8M	100x	as long as short
MEXC SILVER_USDT	+0.0168%	4h	66.030	+0.015%	$122.0M	$192.2M	1000x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.033	+0.019%	$47K	—	10x	as long as short
BloFin XAG-USDT	+0.0174%	4h	65.970	−0.076%	$2.6M	$1.2M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.030	+0.015%	$27.5M	$70.2M	50x	as long as short
Variational Omni XAG	+0.0196%	4h	66.013	−0.011%	$5.3M	$12.2M	—	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.000	−0.030%	$1.9M	$1.2M	20x	as long as short
edgeX XAGUSDC	+0.0229%	4h	65.952	−0.103%	$669K	$314K	30x	as long as short
Hotstuff SILVER-PERP	+0.0288%	1h	66.015	−0.008%	$35K	$21K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0298%	4h	65.969	−0.077%	$398K	$1.7M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0384% / S −0.0407%	1h	66.035	+0.023%	$102K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.040	+0.030%	$1.3M	$4.3M	20x	as long as short
Hibachi XAG/USDT-P	+0.0560%	1h	66.030	+0.015%	$20K	$22K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	65.982	−0.058%	$774K	$628K	25x	as long as short