Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0256%/8h= −28.0% APRpaid last 24h +0.011%

Price spread now: Coinbase International against BloFin−0.215%7-day average −0.041% · you buy dearer than you sell

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on BloFin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.372%+$37 on $10k

Price spread, last 4 days (all we have)+0.200%+$20 · spread now −0.215%, 7d avg −0.041%

Together, before fees+0.572%+$57 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Coinbase International is 0.174% cheaper against BloFin than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.041%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.372%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAG-USDT	64.980	0.0336	pay 0.0168% / 4h	3h 20m	$2.7M	$697K	100x
Short	Coinbase International SILVER-PERP-INTX	64.840	0.0080	get 0.0010% / 1h	20m 37s	$1.6M	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against BloFin. 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 BloFinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.215%Rate

Funding earned: −$53.7
Price spread: −0.215% → −0.041%: −$17.42
Slippage, 4 orders: −$4.63
Fee BloFin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$97.76
Costs to cover: 0.266%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Coinbase International: live order book, 3 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 BloFin live order book, 3 min ago	0.77 bp	6.8 bp −$7	6.8 bp −$68	7.5 bp −$750	15.1 bp −$7,574
Sell Coinbase International live order book, 3 min ago	1.54 bp	6.5 bp −$7	8.3 bp −$83	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	64.859	−0.187%	$12K	$6K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.010	+0.046%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.010	+0.046%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.020	+0.062%	$1.5M	$346K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.861	−0.183%	$117K	—	250x	as long as short
Gate XAG_USDT	+0.0016%	4h	65.040	+0.092%	$138.8M	$187.8M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.002	+0.034%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.938	−0.065%	$5.0M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−0.582%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	64.930	−0.077%	$781K	$3.0M	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	65.369	+0.599%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	64.950	−0.046%	$446K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	64.933	−0.072%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.948	−0.049%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.900	−0.123%	$5.6M	$10.1M	25x	as long as short
Variational Omni XAG	+0.0065%	4h	65.026	+0.070%	$5.4M	$9.2M	—	as long as short
edgeX XAGUSDC	+0.0071%	4h	64.801	−0.276%	$660K	$314K	30x	as long as short
Paradex XAG-USD-PERP	+0.0076%	8h	65.002	+0.034%	$29K	$166	5x	as long as short
Aevo XAG-PERP	+0.0080%	1h	65.007	+0.042%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0080%	1h	64.840	−0.215%	$1.6M	$1.5M	20x
Kalshi KXSILVERPERP	+0.0087%	24h	64.950	−0.046%	$489K	$35.1M	8.1x	as long as short
MEXC SILVER_USDT	+0.0094%	4h	65.000	+0.031%	$123.5M	$160.2M	1000x	as long as short
Pacifica XAG	+0.0100%	1h	64.949	−0.048%	$463K	$591K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	64.970	−0.015%	$25.1M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.750	−0.354%	$111K	$19K	50x	as long as short
Binance XAGUSDT	+0.0102%	4h	65.010	+0.046%	$198.2M	$787.8M	100x	as long as short
Phoenix SILVER	+0.0111%	1h	64.615	−0.562%	$55K	$31K	25x	as long as short
Aster XAGUSDT	+0.0117%	4h	65.020	+0.062%	$2.6M	$1.0M	100x	as long as short
Hotstuff SILVER-PERP	+0.0128%	1h	64.913	−0.103%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0136%	1h	64.960	−0.031%	$173.2M	$88.9M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.929	−0.079%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0165%	1h	64.885	−0.147%	$1.2M	$4.2M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	65.020	+0.062%	$29.0M	$75.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0218%	1h	64.798	−0.280%	$78K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0220%	4h	65.010	+0.046%	$22.8M	$48.0M	100x	as long as short
Lighter XAG	+0.0232%	1h	64.985	+0.007%	$5.2M	$11.3M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	65.035	+0.085%	$92K	—	111x	as long as short
GRVT XAG_USDT_Perp	+0.0298%	4h	64.847	−0.205%	$386K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	65.001	+0.032%	$45K	$75K	10x	as long as short
BloFin XAG-USDTlong	+0.0336%	4h	64.980	long leg	$2.7M	$697K	100x
Deribit SILVER_USDC-PERPETUAL	+0.0366%	1h	64.990	+0.015%	$76K	$435K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	64.890	−0.139%	$20K	$15K	10x	as long as short
Bybit XAGUSDT	+0.0374%	4h	65.040	+0.092%	$30.2M	$43.7M	150x	as long as short
Kraken Futures PF_XAGUSD	+0.0419%	1h	64.975	−0.008%	$1.0M	$894K	25x	as long as short