Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.057%

Price spread now: HTX against Coinbase International+0.060%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$450.454% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.254%−$25 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now +0.060%, 7d avg +0.082%

Together, before fees−0.284%−$28 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.022% cheaper against Coinbase International than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SILVER-PERP-INTX	66.350	0.0192	pay 0.0024% / 1h	24m 39s	$1.9M	$988K	20x
Short	HTX XAG-USDT	66.390	0	get 0.0000% / 4h	1h 24m	$1.0M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Coinbase International. 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 Coinbase InternationalbpFee HTXbpOrdersPrice spread, now +0.060%Rate

Funding earned: −$40.32
Price spread: +0.060% → +0.082%: −$2.2
Slippage, 4 orders: −$23.44
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$87.96
Costs to cover: 0.454%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; HTX: live order book, 4 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 Coinbase International live order book, 4 min ago	0.75 bp	6.8 bp −$7	8.6 bp −$86	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	3.77 bp	13.1 bp −$13	20.5 bp −$205	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	−0.118%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.341	−0.014%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	+0.060%	$150.4M	$164.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.350	0.000%	$2K	$2.7M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.390	+0.060%	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.390	+0.060%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.296	−0.082%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.356	+0.009%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.311	−0.058%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.075%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.310	−0.060%	$798K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.793	+0.668%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.331	−0.029%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.296	−0.081%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.260	−0.136%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.370	+0.030%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0065%	24h	66.311	−0.059%	$536K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.308	−0.063%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.340	−0.015%	$166.1M	$73.4M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.323	−0.041%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	−0.030%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.280	−0.106%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.366	+0.024%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.378	+0.043%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0154%	4h	66.410	+0.090%	$26.9M	$36.1M	150x	as long as short
BloFin XAG-USDT	+0.0175%	4h	66.340	−0.015%	$2.6M	$553K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.359	+0.014%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.390	+0.061%	$1.3M	$4.5M	20x	as long as short
Variational Omni XAG	+0.0184%	4h	66.321	−0.043%	$5.6M	$9.8M	—	as long as short
Lighter XAG	+0.0192%	1h	66.367	+0.025%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0192%	1h	66.350	long leg	$1.9M	$988K	20x
MEXC SILVER_USDT	+0.0196%	4h	66.370	+0.030%	$105.4M	$153.6M	1000x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.391	+0.062%	$192.3M	$705.1M	100x	as long as short
edgeX XAGUSDC	+0.0204%	4h	66.323	−0.040%	$673K	$313K	30x	as long as short
Nado XAG-PERP	+0.0211%	1h	66.333	−0.025%	$1.3M	$6.6M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.390	+0.060%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.277	−0.111%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.380	+0.045%	$23.8M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.347	−0.004%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.121%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.363	+0.020%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0351% / S −0.0372%	1h	66.365	+0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	0.000%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.333	−0.025%	$915K	$671K	25x	as long as short