Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0161%/8h= +17.6% APRpaid last 24h +0.049%

Price spread now: Deribit against Binance0.000%7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$230.230% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.096%+$10 on $10k

Price spread, last 2 days (all we have)−0.025%−$3 · spread now 0.000%, 7d avg −0.010%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, 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	Binance XAGUSDT	66.290	0.0193	pay 0.0097% / 4h	1h 52m	$192.0M	$705.9M	100x
Short	Deribit SILVER_USDC-PERPETUAL	66.290	0.0354	get 0.0044% / 1h	52m 13s	$50K	$326K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Binance. 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 BinancebpFee DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $33.72
Price spread: 0.000% → −0.010%: $1.04
Slippage, 4 orders: −$6
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $11.76
Costs to cover: 0.230%
Break-even: 4.6 days

Slippage from Binance: live order book, 7 min ago; Deribit: live order book, 11 min ago.

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 Binance live order book, 7 min ago	0.75 bp	5.8 bp −$6	5.8 bp −$58	10.0 bp −$1,001	24.0 bp −$12.0K
Sell Deribit live order book, 11 min ago	0.75 bp	4.3 bp −$4	5.9 bp −$59	doesn't fit	doesn't fit

XAG on 43 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	66.294	+0.005%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.330	+0.060%	$152.2M	$161.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.330	+0.060%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.380	+0.136%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.320	+0.045%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.241	−0.074%	$121K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0026%	1h	66.250	−0.060%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.278	−0.018%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.242	−0.073%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.166%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.390	+0.151%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.770	+0.724%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.292	+0.003%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.238	−0.078%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.320	+0.045%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.278	−0.018%	$546K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.303	+0.020%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0100%	1h	66.269	−0.032%	$165.9M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.275	−0.023%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.280	−0.015%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.060%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0139%	8h	66.324	+0.051%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0142%	4h	66.300	+0.015%	$2.7M	$923K	100x	as long as short
Bybit XAGUSDT	+0.0148%	4h	66.300	+0.015%	$26.7M	$36.1M	150x	as long as short
Lighter XAG	+0.0160%	1h	66.281	−0.014%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.303	+0.020%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.354	+0.097%	$5.5M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.330	+0.061%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.320	+0.045%	$111.5M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.091%	$1.9M	$972K	20x	as long as short
Binance XAGUSDTlong	+0.0193%	4h	66.290	long leg	$192.0M	$705.9M	100x
edgeX XAGUSDC	+0.0212%	4h	66.351	+0.091%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.300	+0.015%	$27.9M	$65.7M	50x	as long as short
Aftermath Perps XAGUSD	+0.0233%	1h	66.297	+0.010%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.320	+0.045%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0240%	1h	66.282	−0.011%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0254%	4h	66.300	+0.015%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0272%	1h	66.321	+0.047%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.410	+0.181%	$399K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0330% / S −0.0340%	1h	66.305	+0.023%	$103K	—	111x	as long as short
Hotstuff SILVER-PERP	+0.0344%	1h	66.376	+0.130%	$35K	$21K	20x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0354%	1h	66.290	0.000%	$50K	$326K	20x
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.268	−0.034%	$764K	$475K	25x	as long as short