Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h +0.057%

Price spread now: Coinbase International against SunX+0.030%7-day average −0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$800.798% of the position

Long on SunX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now +0.030%, 7d avg −0.044%

Together, before fees+0.212%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Coinbase International is 0.074% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.044%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.390	0	get 0.0000% / 4h	27m 01s	$2K	$3.0M	20x
Short	Coinbase International SILVER-PERP-INTX	66.410	0.0160	get 0.0020% / 1h	27m 01s	$1.9M	$847K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.030%Rate

Funding earned: $33.6
Price spread: +0.030% → −0.044%: $7.4
Slippage, 4 orders: −$61.84
Fee SunX: 4 bp × 2 orders: −$8
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.84
Costs to cover: 0.798%
Break-even: 15.1 days

Slippage from SunX: live order book, 10 min ago; Coinbase International: 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 SunX live order book, 10 min ago	29.35 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 2 min ago	0.75 bp	7.4 bp −$7	10.4 bp −$104	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	66.313	−0.117%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.460	+0.105%	$26.1M	$34.1M	150x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.359	−0.047%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.450	+0.090%	$153.5M	$170.8M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.390	long leg	$2K	$3.0M	20x
HTX XAG-USDT	0.0000%	4h	66.460	+0.105%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.460	+0.105%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.305	−0.129%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.416	+0.039%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.368	−0.033%	$5.5M	$12.3M	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	+0.015%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.328	−0.093%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.330	−0.090%	$794K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.812	+0.636%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.346	−0.066%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.306	−0.127%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.290	−0.151%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.375	−0.023%	$593K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.380	−0.015%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0074%	1h	66.399	+0.014%	$165.5M	$87.0M	25x	as long as short
Variational Omni XAG	+0.0097%	4h	66.397	+0.011%	$5.6M	$10.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	66.327	−0.095%	$479K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.400	+0.015%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.370	−0.030%	$126K	$26K	50x	as long as short
Aster XAGUSDT	+0.0105%	4h	66.430	+0.060%	$2.8M	$1.1M	100x	as long as short
Paradex XAG-USD-PERP	+0.0108%	8h	66.367	−0.035%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.371	−0.029%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0114%	4h	66.430	+0.060%	$114.9M	$153.0M	1000x	as long as short
Binance XAGUSDT	+0.0115%	4h	66.449	+0.089%	$191.9M	$721.5M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.427	+0.056%	$5.2M	$10.4M	25x	as long as short
edgeX XAGUSDC	+0.0129%	4h	66.383	−0.011%	$674K	$313K	30x	as long as short
Bitget XAGUSDT	+0.0138%	4h	66.460	+0.105%	$24.2M	$48.2M	100x	as long as short
BloFin XAG-USDT	+0.0151%	4h	66.420	+0.045%	$2.6M	$650K	100x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0160%	1h	66.410	+0.030%	$1.9M	$847K	20x
GRVT XAG_USDT_Perp	+0.0164%	4h	66.378	−0.018%	$395K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0168%	1h	66.370	−0.030%	$80K	$40K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0193%	8h	66.470	+0.121%	$27.8M	$66.5M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.382	−0.012%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0255%	1h	66.388	−0.003%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0263%	1h	66.319	−0.108%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.385	−0.008%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.339	−0.076%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.370	−0.030%	$50K	$361K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0597%	1h	66.360	−0.046%	$761K	$586K	25x	as long as short