Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0033%/8h= −3.6% APRpaid last 24h −0.039%

Price spread now: Ondo Perps against Variational Omni−0.081%7-day average −0.161% · you buy dearer than you sell

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

Long on Variational Omni Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.038%−$4 on $10k

Price spread, last 7 days−0.001%$0 · spread now −0.081%, 7d avg −0.161%

Together, before fees−0.039%+ Points / potential airdropVariational Omni: Active · Ondo Perps: Active · farm board−$4 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Ondo Perps is 0.079% dearer against Variational Omni than usual: you sell high and buy low (spread −0.081% now, against its 7-day average of −0.161%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	65.043	0	get 0.0000% / 4h	21m 31s	$5.5M	$9.1M	—
Short	Ondo Perps XAG-USD.P	64.990	−0.0033	pay 0.0004% / 1h	21m 31s	$5.6M	$9.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps 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 Ondo PerpsbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$6.89
Price spread: −0.081% → −0.161%: $7.92
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$3.97
Costs to cover: 0.050%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Ondo Perps: 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, 3 min ago	2.58 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Hotstuff SILVER-PERP	−0.0056%	1h	65.059	+0.025%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.Pshort	−0.0033%	1h	64.990	−0.081%	$5.6M	$9.7M	25x
dYdX XAG-USD	0.0000%	1h	65.070	+0.042%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.130	+0.134%	$27.6M	$39.2M	150x	as long as short
Variational Omni XAGlong	0.0000%	4h	65.043	long leg	$5.5M	$9.1M	—
SunX XAG-USDT	0.0000%	4h	65.090	+0.072%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.110	+0.103%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.120	+0.118%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.069	+0.039%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.120	+0.118%	$140.4M	$180.7M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SILVER_USDT	+0.0030%	4h	65.110	+0.103%	$124.7M	$160.5M	1000x	as long as short
Binance XAGUSDT	+0.0030%	4h	65.118	+0.115%	$191.5M	$757.2M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.101	+0.089%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.042	−0.001%	$5.0M	$11.7M	10x	as long as short
Aster XAGUSDT	+0.0033%	4h	65.120	+0.118%	$2.7M	$971K	100x	as long as short
edgeX XAGUSDC	+0.0033%	4h	65.105	+0.095%	$663K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+2.086%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.140	+0.149%	$784K	$2.9M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.090	+0.072%	$160K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.530	+0.749%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.073	+0.047%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.087	+0.068%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.024	−0.029%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.085	+0.065%	$29K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0059%	1h	65.097	+0.083%	$172.3M	$83.9M	25x	as long as short
Phoenix SILVER	+0.0061%	1h	65.047	+0.006%	$55K	$31K	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.099	+0.086%	$475K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.112%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.041	−0.003%	$463K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.080	+0.057%	$25.2M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.080	+0.057%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.115	+0.111%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDT	+0.0120%	4h	65.170	+0.195%	$2.7M	$624K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0132%	4h	65.067	+0.036%	$386K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0154%	4h	65.120	+0.118%	$23.2M	$44.9M	100x	as long as short
Nado XAG-PERP	+0.0165%	1h	65.082	+0.060%	$1.2M	$4.7M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0169%	8h	65.130	+0.134%	$28.3M	$70.4M	50x	as long as short
Lighter XAG	+0.0176%	1h	65.105	+0.095%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0195%	1h	65.096	+0.082%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0211%	1h	65.060	+0.026%	$65K	$394K	20x	as long as short
Bullet SILVER-USD	+0.0230%	1h	65.098	+0.085%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.044	+0.002%	$20K	$17K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.135	+0.141%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.066	+0.036%	$1.0M	$869K	25x	as long as short