Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0255%/8h= +28.0% APRpaid last 24h +0.043%

Price spread now: Bullet against Bybit−0.149%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Bullet

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bullet is 0.149% cheaper against Bybit than usual: you would sell low and buy high (spread −0.149% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 47 hours of funding at the current rate (+$8 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.530	0	get 0.0000% / 4h	2h 56m	$25.9M	$35.8M	150x
Short	Bullet SILVER-USD	66.431	0.0255	get 0.0032% / 1h	56m 34s	$45K	$76K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bullet against Bybit. 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 BybitbpFee BulletbpOrdersPrice spread, now −0.149%Rate

Funding earned: $53.64
Price spread: −0.149% → 0.000%: −$14.85
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Bullet: 4 bp × 2 orders: −$8
Net: $19.79
Costs to cover: 0.190%
Break-even: 4.4 days

Slippage unknown: Bybit: live order book, 2 min ago; Bullet: 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 Bybit live order book, 2 min ago	0.75 bp	7.4 bp −$7	9.4 bp −$94	20.8 bp −$2,081	80.8 bp −$40.4K
Sell Bullet no order-book sample	—	—	—	—	—

Bullet: 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
dYdX XAG-USD	0.0000%	1h	66.388	−0.213%	$15K	—	5x	as long as short
Bybit XAGUSDTlong	0.0000%	4h	66.530	long leg	$25.9M	$35.8M	150x
Gate XAG_USDT	0.0000%	4h	66.520	−0.015%	$154.6M	$159.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.420	−0.165%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.430	−0.150%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.470	−0.090%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.348	−0.274%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.439	−0.138%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.430	−0.151%	$5.4M	$12.5M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.373	−0.236%	$35K	$21K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.195%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.450	−0.120%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.852	+0.484%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.369	−0.242%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.400	−0.195%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.390	−0.210%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.342	−0.283%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.450	−0.120%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.384	−0.219%	$549K	$23.0M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.509	−0.032%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0089%	1h	66.425	−0.158%	$165.8M	$85.2M	25x	as long as short
Aster XAGUSDT	+0.0098%	4h	66.448	−0.123%	$2.8M	$1.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.446	−0.126%	$473K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.420	−0.165%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.390	−0.210%	$126K	$23K	50x	as long as short
Variational Omni XAG	+0.0108%	4h	66.543	+0.020%	$5.6M	$9.8M	—	as long as short
Paradex XAG-USD-PERP	+0.0113%	8h	66.459	−0.106%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0123%	4h	66.509	−0.032%	$675K	$316K	30x	as long as short
MEXC SILVER_USDT	+0.0126%	4h	66.500	−0.045%	$108.2M	$156.0M	1000x	as long as short
Binance XAGUSDT	+0.0126%	4h	66.506	−0.037%	$193.4M	$716.1M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.406	−0.186%	$48K	—	10x	as long as short
Lighter XAG	+0.0152%	1h	66.454	−0.115%	$5.3M	$10.4M	25x	as long as short
BloFin XAG-USDT	+0.0158%	4h	66.470	−0.090%	$2.6M	$663K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.380	−0.225%	$1.9M	$962K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	66.454	−0.114%	$402K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.520	−0.015%	$28.0M	$66.7M	50x	as long as short
Bitget XAGUSDT	+0.0200%	4h	66.510	−0.030%	$24.5M	$46.4M	100x	as long as short
Aftermath Perps XAGUSD	+0.0207%	1h	66.441	−0.134%	$80K	$39K	10x	as long as short
Nado XAG-PERP	+0.0247%	1h	66.373	−0.236%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USDshort	+0.0255%	1h	66.431	−0.149%	$45K	$76K	10x
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.425	−0.158%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.371	−0.239%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.400	−0.195%	$50K	$331K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.377	−0.230%	$765K	$552K	25x	as long as short