Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0108%/8h= +11.8% APRpaid last 24h +0.017%

Price spread now: Deribit against Bitget−0.060%7-day average −0.009% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$260.265% of the position

Long on Bitget Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.055%+$5 on $10k

Price spread, last 4 days (all we have)+0.151%+$15 · spread now −0.060%, 7d avg −0.009%

Together, before fees+0.205%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.051% cheaper against Bitget than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.009%). If the spread goes back, that is −$5 on $10k: about 38 hours of funding at the current rate (+$3 a day). At the pace of the last 4 days (+0.055% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAGUSDT	66.340	0.0246	pay 0.0123% / 4h	1h 27m	$23.8M	$45.8M	100x
Short	Deribit SILVER_USDC-PERPETUAL	66.300	0.0354	get 0.0044% / 1h	27m 36s	$50K	$322K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Bitget. 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 BitgetbpFee DeribitbpOrdersPrice spread, now −0.060%Rate

Funding earned: $22.61
Price spread: −0.060% → −0.009%: −$5.12
Slippage, 4 orders: −$7.49
Fee Bitget: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$8.99
Costs to cover: 0.265%
Break-even: 9.8 days

Slippage from Bitget: live order book, 1 min ago; Deribit: live order book, 36 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 Bitget live order book, 1 min ago	0.75 bp	6.8 bp −$7	9.0 bp −$90	17.5 bp −$1,755	43.3 bp −$21.7K
Sell Deribit live order book, 36 min ago	0.75 bp	4.3 bp −$4	5.9 bp −$59	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
dYdX XAG-USD	0.0000%	1h	66.272	−0.103%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.350	+0.015%	$150.3M	$164.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.330	−0.015%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.350	+0.015%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.340	0.000%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.272	−0.102%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.322	−0.028%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.268	−0.108%	$5.2M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.090%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	−0.136%	$797K	$2.9M	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	66.767	+0.644%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.312	−0.042%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.298	−0.063%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.252	−0.133%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.230	−0.166%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.330	−0.015%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.267	−0.110%	$532K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.278	−0.093%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.294	−0.069%	$166.0M	$74.3M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.285	−0.083%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.290	−0.075%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.260	−0.121%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.280	−0.090%	$2.7M	$887K	100x	as long as short
Paradex XAG-USD-PERP	+0.0135%	8h	66.323	−0.026%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0158%	4h	66.360	+0.030%	$26.9M	$36.1M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.317	−0.035%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0179%	4h	66.321	−0.028%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.332	−0.012%	$1.3M	$4.5M	20x	as long as short
Lighter XAG	+0.0192%	1h	66.323	−0.025%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.270	−0.106%	$1.9M	$980K	20x	as long as short
MEXC SILVER_USDT	+0.0194%	4h	66.340	0.000%	$103.3M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.349	+0.013%	$192.3M	$705.9M	100x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.273	−0.101%	$672K	$315K	30x	as long as short
Nado XAG-PERP	+0.0210%	1h	66.270	−0.105%	$1.3M	$6.6M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.340	0.000%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.263	−0.116%	$80K	$37K	10x	as long as short
Bitget XAGUSDTlong	+0.0246%	4h	66.340	long leg	$23.8M	$45.8M	100x
BloFin XAG-USDT	+0.0252%	4h	66.320	−0.030%	$2.6M	$553K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.350	+0.015%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.106%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.352	+0.018%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0349% / S −0.0370%	1h	66.345	+0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0354%	1h	66.300	−0.060%	$50K	$322K	20x
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.295	−0.068%	$915K	$671K	25x	as long as short