Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0236%/8h= +25.9% APRpaid last 24h +0.027%

Price spread now: GMX against Variational Omni−0.003%7-day average +0.022% · you buy dearer than you sell

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

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.123%+$12 on $10k

Price spread, last 3 days (all we have)+0.062%+$6 · spread now −0.003%, 7d avg +0.022%

Together, before fees+0.185%+ Points / potential airdropVariational Omni: Active · farm board+$18 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.025% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.022%). If the spread goes back, that is −$2 on $10k: about 8 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.237	0.0064	pay 0.0032% / 4h	1h 20m	$5.5M	$10.5M	—
Short	GMX SILVER/USD [ETH-USDC]	66.235	L +0.0302% / S −0.0300%	get 0.0038% / 1h	20m 03s	$103K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.003%Rate

Funding earned: $49.6
Price spread: −0.003% → +0.022%: −$2.47
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $35.13
Costs to cover: 0.120%
Break-even: 2.0 days

Slippage unknown: Variational Omni: RFQ quote, 4 min ago; GMX: 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 Variational Omni RFQ quote, 4 min ago	2.57 bp	doesn't fit	2.6 bp −$26	4.7 bp −$470	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.203	−0.051%	$766K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.093%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.240	+0.005%	$25.6M	$33.3M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.241	+0.006%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.230	−0.010%	$146.3M	$173.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.020%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.260	+0.035%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.250	+0.020%	$1.5M	$248K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.169	−0.101%	$120K	—	250x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.220	−0.025%	$144K	$2.8M	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	66.219	−0.026%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.167	−0.105%	$5.5M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.247%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	−0.086%	$792K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.675	+0.662%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.195	−0.063%	$164.9M	$88.3M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.203	−0.051%	$3.9M	$694K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.165	−0.108%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.130	−0.161%	$5.7M	$9.9M	25x	as long as short
Aster XAGUSDT	+0.0051%	4h	66.241	+0.006%	$2.8M	$1.0M	100x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.185	−0.078%	$583K	$21.3M	8.1x	as long as short
Bitget XAGUSDT	+0.0058%	4h	66.240	+0.005%	$23.8M	$47.7M	100x	as long as short
Variational Omni XAGlong	+0.0064%	4h	66.237	long leg	$5.5M	$10.5M	—
Hotstuff SILVER-PERP	+0.0064%	1h	66.197	−0.060%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0073%	1h	66.167	−0.105%	$56K	$26K	25x	as long as short
BloFin XAG-USDT	+0.0075%	4h	66.250	+0.020%	$2.6M	$847K	100x	as long as short
edgeX XAGUSDC	+0.0077%	4h	66.226	−0.016%	$672K	$314K	30x	as long as short
MEXC SILVER_USDT	+0.0078%	4h	66.230	−0.010%	$118.1M	$181.8M	1000x	as long as short
Binance XAGUSDT	+0.0079%	4h	66.230	−0.010%	$189.7M	$727.8M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.229	−0.012%	$48K	—	10x	as long as short
Pacifica XAG	+0.0100%	1h	66.179	−0.087%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.040%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.170	−0.101%	$113K	$26K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0102%	4h	66.231	−0.009%	$390K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.190	−0.071%	$1.9M	$859K	20x	as long as short
Paradex XAG-USD-PERP	+0.0117%	8h	66.223	−0.020%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0125%	1h	66.192	−0.067%	$80K	$40K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.218	−0.028%	$5.1M	$11.0M	25x	as long as short
Hibachi XAG/USDT-P	+0.0136%	1h	66.196	−0.062%	$20K	$22K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0168%	8h	66.250	+0.020%	$27.3M	$66.3M	50x	as long as short
Nado XAG-PERP	+0.0220%	1h	66.184	−0.080%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0266%	1h	66.234	−0.004%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0302% / S −0.0300%	1h	66.235	−0.003%	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.220	−0.025%	$51K	$359K	20x	as long as short