Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0002%/8h= −0.2% APRpaid last 24h −0.025%

Price spread now: MEXC against Coinbase International−0.226%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on Coinbase International Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.195%−$19 on $10k

Price spread, last 3 days (all we have)+0.193%+$19 · spread now −0.226%, 7d avg +0.007%

Together, before fees−0.001%$0 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: MEXC is 0.233% cheaper against Coinbase International than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.007%.

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	49m 09s	$1.9M	$972K	20x
Short	MEXC SILVER_USDT	66.200	0.0190	get 0.0095% / 4h	1h 49m	$110.4M	$151.9M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.226%Rate

Funding earned: −$0.42
Price spread: −0.226% → +0.007%: −$23.28
Slippage, 4 orders: −$3.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$37.31
Costs to cover: 0.136%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 5 min ago; MEXC: live order book, 5 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, 5 min ago	0.75 bp	6.0 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit
Sell MEXC live order book, 5 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$75	2.5 bp −$1,255

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	66.178	−0.259%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.220	−0.196%	$151.3M	$161.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	−0.196%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	−0.106%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.230	−0.181%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.144	−0.311%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.194	−0.235%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0030%	1h	66.120	−0.347%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.195	−0.234%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.145	−0.309%	$5.3M	$12.1M	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.075%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	−0.151%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.661	+0.469%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.185	−0.249%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.141	−0.315%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.220	−0.196%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.189	−0.243%	$546K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.206	−0.217%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0089%	1h	66.172	−0.268%	$165.7M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.166	−0.277%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.271%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	−0.030%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.216	−0.202%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0138%	4h	66.205	−0.218%	$2.7M	$917K	100x	as long as short
Bybit XAGUSDT	+0.0141%	4h	66.230	−0.181%	$26.7M	$36.1M	150x	as long as short
Lighter XAG	+0.0168%	1h	66.200	−0.227%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.210	−0.212%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	−0.163%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.231	−0.180%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDTshort	+0.0190%	4h	66.200	−0.226%	$110.4M	$151.9M	1000x
Binance XAGUSDT	+0.0191%	4h	66.206	−0.218%	$191.8M	$706.2M	100x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0192%	1h	66.350	long leg	$1.9M	$972K	20x
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.024%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.210	−0.211%	$27.8M	$65.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.247	−0.155%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0238%	1h	66.171	−0.270%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.210	−0.211%	$23.8M	$46.1M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	66.199	−0.228%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0263%	1h	66.226	−0.187%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0278%	4h	66.277	−0.110%	$400K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0331% / S −0.0342%	1h	66.215	−0.203%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.190	−0.241%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.171	−0.269%	$763K	$475K	25x	as long as short