Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0355%/8h= +38.8% APRpaid last 24h +0.082%

Price spread now: Deribit against SunX0.000%7-day average −0.021% · 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−$73as in the Price arb table

costs, in and out, $10k−$750.754% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.138%+$14 on $10k

Price spread, last 4 days (all we have)−0.038%−$4 · spread now 0.000%, 7d avg −0.021%

Together, before fees+0.100%+$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Deribit is 0.021% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.180	0	get 0.0000% / 4h	23m 43s	$2K	$2.7M	20x
Short	Deribit SILVER_USDC-PERPETUAL	66.180	0.0355	get 0.0044% / 1h	23m 43s	$62K	$348K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $74.5
Price spread: 0.000% → −0.021%: $2.13
Slippage, 4 orders: −$60.45
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $1.19
Costs to cover: 0.754%
Break-even: 6.9 days

Slippage from SunX: live order book, 4 min ago; Deribit: live order book, 35 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, 4 min ago	29.47 bp	33.5 bp −$33	62.6 bp −$626	doesn't fit	doesn't fit
Sell Deribit live order book, 35 min ago	0.76 bp	4.3 bp −$4	5.9 bp −$59	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	66.086	−0.142%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.210	+0.045%	$150.2M	$163.4M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.180	long leg	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.220	+0.060%	$1.0M	$971K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.200	+0.030%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.122	−0.087%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.186	+0.009%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.139	−0.062%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.332%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	0.000%	$796K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.620	+0.665%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0048%	1h	66.060	−0.181%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.153	−0.041%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.128	−0.079%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.160	−0.030%	$115K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.154	−0.039%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.141	−0.059%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0070%	24h	66.141	−0.059%	$525K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.141	−0.059%	$471K	$622K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.015%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.130	−0.076%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0124%	1h	66.163	−0.026%	$165.7M	$73.9M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.199	+0.028%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.180	0.000%	$2.7M	$877K	100x	as long as short
Paradex XAG-USD-PERP	+0.0145%	8h	66.190	+0.015%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0166%	4h	66.200	+0.030%	$27.0M	$36.2M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.190	+0.015%	$5.2M	$10.6M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.184	+0.006%	$48K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.120	−0.091%	$1.8M	$1.0M	20x	as long as short
Nado XAG-PERP	+0.0201%	1h	66.136	−0.066%	$1.3M	$6.5M	10x	as long as short
Variational Omni XAG	+0.0208%	4h	66.193	+0.019%	$5.6M	$9.7M	—	as long as short
MEXC SILVER_USDT	+0.0212%	4h	66.190	+0.015%	$110.0M	$152.6M	1000x	as long as short
Binance XAGUSDT	+0.0213%	4h	66.200	+0.030%	$192.9M	$701.1M	100x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.144	−0.055%	$80K	$37K	10x	as long as short
edgeX XAGUSDC	+0.0229%	4h	66.149	−0.047%	$671K	$310K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.200	+0.030%	$27.8M	$65.4M	50x	as long as short
BloFin XAG-USDT	+0.0254%	4h	66.170	−0.015%	$2.6M	$554K	100x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.200	+0.030%	$23.8M	$45.5M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.200	+0.030%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0294%	1h	66.197	+0.026%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0355%	1h	66.180	0.000%	$62K	$348K	20x
Hibachi XAG/USDT-P	+0.0368%	1h	66.140	−0.060%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0381% / S −0.0421%	1h	66.195	+0.023%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0484%	1h	66.159	−0.032%	$913K	$676K	25x	as long as short