Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX0.000%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$880.882% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now 0.000%, 7d avg +0.022%

Together, before fees+0.025%+$3 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: Phemex is 0.022% cheaper against SunX than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	65.750	0	get 0.0000% / 4h	1h 51m	$2K	$2.4M	20x
Short	Phemex XAGUSDT	65.750	0	get 0.0000% / 4h	1h 51m	$1.5M	$251K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.022%: −$2.24
Slippage, 4 orders: −$68.22
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$90.46
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from SunX: live order book, 9 min ago; Phemex: live order book, 4 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, 9 min ago	29.65 bp	33.7 bp −$34	62.5 bp −$625	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	2.28 bp	8.3 bp −$8	12.7 bp −$127	doesn't fit	doesn't fit

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−1.5176%	1h	65.532	−0.332%	$36K	$23K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.651	−0.151%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.700	−0.076%	$138.6M	$204.0M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	65.750	long leg	$2K	$2.4M	20x
HTX XAG-USDT	0.0000%	4h	65.790	+0.061%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.750	0.000%	$1.5M	$251K	100x
Ondo Perps XAG-USD.P	+0.0002%	1h	65.580	−0.259%	$5.7M	$11.0M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.658	−0.140%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.662	−0.134%	$4.5M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.620	−0.198%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.746%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.690	−0.091%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.115	+0.555%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.656	−0.143%	$3.8M	$893K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.634	−0.176%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.670	−0.122%	$447K	$1.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	65.650	−0.152%	$174.6M	$94.0M	25x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	65.658	−0.140%	$29K	$166	5x	as long as short
Variational Omni XAG	+0.0096%	4h	65.678	−0.109%	$5.7M	$9.1M	—	as long as short
Kalshi KXSILVERPERP	+0.0099%	24h	65.716	−0.052%	$711K	$38.6M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.617	−0.202%	$467K	$570K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.650	−0.152%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.670	−0.122%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.690	−0.091%	$1.6M	$1.9M	20x	as long as short
Aster XAGUSDT	+0.0111%	4h	65.680	−0.106%	$2.7M	$1.1M	100x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.722	−0.042%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0113%	4h	65.683	−0.102%	$191.8M	$864.6M	100x	as long as short
MEXC SILVER_USDT	+0.0114%	4h	65.660	−0.137%	$121.9M	$162.8M	1000x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.689	−0.093%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0122%	1h	65.676	−0.113%	$55K	$14K	25x	as long as short
Bybit XAGUSDT	+0.0137%	4h	65.700	−0.076%	$30.6M	$48.2M	150x	as long as short
edgeX XAGUSDC	+0.0138%	4h	65.690	−0.091%	$669K	$314K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0140%	4h	65.730	−0.031%	$396K	$1.5M	25x	as long as short
Nado XAG-PERP	+0.0141%	1h	65.649	−0.154%	$1.2M	$3.6M	10x	as long as short
Lighter XAG	+0.0152%	1h	65.674	−0.116%	$5.2M	$11.6M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.720	−0.046%	$77K	$411K	20x	as long as short
Bullet SILVER-USD	+0.0209%	1h	65.755	+0.008%	$45K	$74K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0213%	8h	65.700	−0.076%	$28.0M	$85.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0216%	1h	65.665	−0.130%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0244%	4h	65.700	−0.076%	$23.2M	$52.8M	100x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	65.696	−0.082%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0269% / S −0.0236%	1h	65.745	−0.008%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0358%	4h	65.720	−0.046%	$2.7M	$772K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0547%	1h	65.712	−0.058%	$1.0M	$943K	25x	as long as short