Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0073%/8h= +8.0% APRpaid last 24h +0.012%

Price spread now: Phoenix against SunX−0.021%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.139%+$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.021% cheaper against SunX than usual: you would sell low and buy high (spread −0.021% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 23 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.040	0	get 0.0000% / 4h	2h 10m	$2K	$3.4M	20x
Short	Phoenix SILVER	66.026	0.0073	get 0.0009% / 1h	10m 25s	$56K	$26K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.021%Rate

Funding earned: $15.26
Price spread: −0.021% → 0.000%: −$2.12
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$1.86
Costs to cover: 0.150%
Break-even: 7.9 days

Slippage unknown: SunX: live order book, 7 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 7 min ago	29.52 bp	33.5 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XAG on 42 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	−0.072%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.050	+0.015%	$25.8M	$36.4M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.030	−0.015%	$147.5M	$185.2M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.040	long leg	$2K	$3.4M	20x
Deribit SILVER_USDC-PERPETUAL	0.0000%	1h	66.060	+0.030%	$76K	$367K	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.090	+0.076%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.070	+0.045%	$1.5M	$249K	100x	as long as short
Nado XAG-PERP	+0.0001%	1h	66.040	−0.001%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0004%	1h	66.056	+0.024%	$44K	$74K	10x	as long as short
Aftermath Perps XAGUSD	+0.0015%	1h	66.009	−0.047%	$79K	$40K	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAG	+0.0032%	1h	66.036	−0.006%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.034	−0.008%	$4.4M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.034	−0.009%	$5.3M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.545%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.030	−0.015%	$790K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.518	+0.724%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.019	−0.032%	$164.5M	$96.4M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.012	−0.042%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.016	−0.036%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	65.980	−0.091%	$5.4M	$9.8M	25x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	66.005	−0.053%	$638K	$21.8M	8.1x	as long as short
Aster XAGUSDT	+0.0061%	4h	66.046	+0.009%	$2.8M	$1.2M	100x	as long as short
Phoenix SILVERshort	+0.0073%	1h	66.026	−0.021%	$56K	$26K	25x
Bitget XAGUSDT	+0.0076%	4h	66.040	0.000%	$23.7M	$52.5M	100x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.040	0.000%	$143K	$2.8M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.031	−0.013%	$472K	$647K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.010	−0.045%	$24.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	+0.030%	$112K	$85K	50x	as long as short
Binance XAGUSDT	+0.0102%	4h	66.050	+0.015%	$190.5M	$798.3M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.051	+0.016%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	66.060	+0.030%	$123.0M	$192.4M	1000x	as long as short
Variational Omni XAG	+0.0107%	4h	66.053	+0.020%	$5.3M	$11.4M	—	as long as short
GRVT XAG_USDT_Perp	+0.0108%	4h	66.046	+0.010%	$390K	$1.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0109%	8h	66.062	+0.033%	$30K	$1K	5x	as long as short
BloFin XAG-USDT	+0.0130%	4h	66.020	−0.030%	$2.6M	$1.2M	100x	as long as short
edgeX XAGUSDC	+0.0142%	4h	66.052	+0.018%	$670K	$316K	30x	as long as short
Hotstuff SILVER-PERP	+0.0160%	1h	66.016	−0.036%	$35K	$21K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0162%	8h	66.040	0.000%	$27.5M	$69.9M	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.000	−0.061%	$1.9M	$1.2M	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0390% / S −0.0417%	1h	66.055	+0.023%	$102K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.050	+0.015%	$1.3M	$4.4M	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	66.006	−0.051%	$775K	$628K	25x	as long as short