Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0109%/8h= −12.0% APRpaid last 24h +0.002%

Price spread now: Pacifica against Variational Omni−0.097%52s7-day average −0.067% · you buy dearer than you sell

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now −0.097%, 7d avg −0.067%

Together, before fees−0.193%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Pacifica is 0.031% cheaper against Variational Omni than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.067%). Swap the legs. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.033	0.0209	pay 0.0105% / 4h	3h 57m	$5.6M	$9.5M	—
Short	Pacifica XAG	65.969	0.0100	get 0.0013% / 1h	57m 48s	$469K	$615K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.097%Rate

Funding earned: −$22.99
Price spread: −0.097% → −0.067%: −$3.06
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$34.05
Costs to cover: 0.080%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Pacifica: live order book, 61 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, 1 min ago	2.58 bp	doesn't fit	3.3 bp −$33	doesn't fit	doesn't fit
Sell Pacifica live order book, 61 min ago	0.08 bp	5.7 bp −$6	doesn't fit	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	−0.0044%	1h	65.910	−0.187%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.942	−0.138%	$15K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.010	−0.036%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.060	+0.040%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.100	+0.101%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.959	−0.113%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.008	−0.039%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.951	−0.125%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.555%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.050	+0.025%	$794K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.455	+0.638%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.999	−0.052%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.984	−0.075%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.955	−0.119%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.010	−0.036%	$115K	$2.7M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	65.974	−0.090%	$166.0M	$73.8M	25x	as long as short
Phoenix SILVER	+0.0060%	1h	65.995	−0.058%	$56K	$25K	25x	as long as short
Kalshi KXSILVERPERP	+0.0072%	24h	65.990	−0.066%	$534K	$25.5M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.020	−0.020%	$1.3M	$4.9M	20x	as long as short
Pacifica XAGshort	+0.0100%	1h	65.969	−0.097%	$469K	$615K	10x
KuCoin XAGUSDTM	+0.0100%	4h	65.990	−0.066%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.970	−0.096%	$113K	$30K	50x	as long as short
Gate XAG_USDT	+0.0106%	4h	66.030	−0.005%	$149.9M	$162.4M	100x	as long as short
Paradex XAG-USD-PERP	+0.0141%	8h	66.019	−0.022%	$30K	$1K	5x	as long as short
Nado XAG-PERP	+0.0142%	1h	65.991	−0.065%	$1.4M	$6.3M	10x	as long as short
Lighter XAG	+0.0144%	1h	66.010	−0.036%	$5.2M	$10.6M	25x	as long as short
Aster XAGUSDT	+0.0152%	4h	66.000	−0.051%	$2.7M	$861K	100x	as long as short
Bullet SILVER-USD	+0.0186%	1h	66.023	−0.016%	$44K	$75K	10x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.017	−0.025%	$47K	—	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	66.000	−0.051%	$75K	$362K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	66.020	−0.020%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAGlong	+0.0209%	4h	66.033	long leg	$5.6M	$9.5M	—
Bybit XAGUSDT	+0.0212%	4h	66.020	−0.020%	$27.3M	$36.0M	150x	as long as short
Binance XAGUSDT	+0.0217%	4h	66.000	−0.051%	$191.0M	$701.9M	100x	as long as short
BloFin XAG-USDT	+0.0218%	4h	66.060	+0.040%	$2.6M	$554K	100x	as long as short
MEXC SILVER_USDT	+0.0218%	4h	66.010	−0.036%	$112.0M	$151.2M	1000x	as long as short
edgeX XAGUSDC	+0.0221%	4h	66.033	0.000%	$670K	$313K	30x	as long as short
Aftermath Perps XAGUSD	+0.0227%	1h	66.008	−0.038%	$79K	$36K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0236%	8h	66.000	−0.051%	$27.6M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0256%	4h	65.990	−0.066%	$23.9M	$45.5M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.050	+0.025%	$394K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.025	−0.013%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0384%	1h	65.990	−0.066%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.985	−0.073%	$911K	$683K	25x	as long as short