Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0161%/8h= +17.7% APRpaid last 24h +0.051%

Price spread now: Deribit against Variational Omni−0.020%7-day average −0.005% · you buy dearer than you sell

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

Long on Variational Omni Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.090%+$9 on $10k

Price spread, last 4 days (all we have)+0.088%+$9 · spread now −0.020%, 7d avg −0.005%

Together, before fees+0.178%+ Points / potential airdropVariational Omni: Active · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	65.993	0.0195	pay 0.0098% / 4h	3h 50m	$5.6M	$9.4M	—
Short	Deribit SILVER_USDC-PERPETUAL	65.980	0.0357	get 0.0045% / 1h	50m 59s	$75K	$363K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Variational Omni. 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 Variational OmnibpFee DeribitbpOrdersPrice spread, now −0.020%Rate

Funding earned: $33.87
Price spread: −0.020% → −0.005%: −$1.54
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $25.33
Costs to cover: 0.070%
Break-even: 1.8 days

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Deribit: live order book, 3 min ago. 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 Variational Omni RFQ quote, 3 min ago	2.57 bp	doesn't fit	2.9 bp −$29	doesn't fit	doesn't fit
Sell Deribit live order book, 3 min ago	0.76 bp	8.8 bp −$9	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
Ondo Perps XAG-USD.P	−0.0054%	1h	65.880	−0.172%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.091%	$14K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.000	+0.010%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.030	+0.055%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.010	+0.025%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.933	−0.092%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.984	−0.015%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.933	−0.092%	$5.2M	$11.5M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	65.966	−0.042%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.616%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	65.990	−0.005%	$794K	$3.1M	40x	as long as short
Gate XAG_USDT	+0.0044%	4h	66.010	+0.025%	$149.6M	$163.2M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.420	+0.646%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.956	−0.057%	$165.9M	$73.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.966	−0.042%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.931	−0.095%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0060%	1h	65.990	−0.005%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0072%	24h	65.957	−0.055%	$536K	$25.8M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.935	−0.089%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.009	+0.023%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.927	−0.100%	$469K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.960	−0.051%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.950	−0.066%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0102%	4h	66.030	+0.055%	$27.3M	$36.3M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0108%	4h	65.990	−0.005%	$393K	$1.5M	25x	as long as short
Lighter XAG	+0.0120%	1h	65.988	−0.009%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0132%	8h	65.991	−0.004%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0143%	4h	65.970	−0.036%	$2.7M	$863K	100x	as long as short
Nado XAG-PERP	+0.0153%	1h	65.957	−0.055%	$1.4M	$6.1M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	65.983	−0.015%	$47K	—	10x	as long as short
Variational Omni XAGlong	+0.0195%	4h	65.993	long leg	$5.6M	$9.4M	—
Binance XAGUSDT	+0.0208%	4h	66.003	+0.014%	$191.2M	$702.8M	100x	as long as short
MEXC SILVER_USDT	+0.0208%	4h	66.000	+0.010%	$113.0M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.066%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0218%	4h	65.953	−0.062%	$669K	$311K	30x	as long as short
Aftermath Perps XAGUSD	+0.0219%	1h	65.966	−0.042%	$79K	$36K	10x	as long as short
BloFin XAG-USDT	+0.0220%	4h	66.020	+0.040%	$2.6M	$557K	100x	as long as short
Bullet SILVER-USD	+0.0225%	1h	66.009	+0.023%	$45K	$75K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	66.010	+0.025%	$27.7M	$64.8M	50x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.000	+0.010%	$23.9M	$45.4M	100x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0357%	1h	65.980	−0.020%	$75K	$363K	20x
Hibachi XAG/USDT-P	+0.0360%	1h	65.940	−0.081%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.005	+0.018%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.970	−0.036%	$911K	$683K	25x	as long as short