Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0025%/8h= +2.7% APRpaid last 24h −0.011%

Price spread now: OKX against Coinbase International−0.136%7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.180%−$18 on $10k

Price spread, last 3 days (all we have)+0.116%+$12 · spread now −0.136%, 7d avg +0.024%

Together, before fees−0.064%−$6 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.160% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.136% now, against its 7-day average of +0.024%). If the spread goes back, that is −$16 on $10k: about 22 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.180%, so the current rate has only just turned in your favour.

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	50m 32s	$1.9M	$972K	20x
Short	OKX XAG-USDT-SWAP	66.260	0.0217	get 0.0217% / 8h	5h 50m	$27.8M	$65.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.136%Rate

Funding earned: $5.15
Price spread: −0.136% → +0.024%: −$15.99
Slippage, 4 orders: −$3.62
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$34.46
Costs to cover: 0.236%
Break-even: 53.9 days

Slippage from Coinbase International: live order book, 3 min ago; OKX: 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 Coinbase International live order book, 3 min ago	0.75 bp	6.0 bp −$6	7.9 bp −$79	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	0.75 bp	5.8 bp −$6	6.6 bp −$66	12.3 bp −$1,229	71.6 bp −$35.8K

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	66.270	−0.121%	$151.7M	$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	66.290	−0.090%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.180	−0.255%	$121K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0017%	1h	66.160	−0.286%	$5.7M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.228	−0.184%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.246	−0.157%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.198	−0.229%	$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	66.230	−0.181%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.693	+0.517%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.218	−0.199%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.188	−0.244%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.250	−0.151%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.249	−0.152%	$547K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.303	−0.071%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0093%	1h	66.215	−0.203%	$165.8M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.206	−0.217%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.230	−0.181%	$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	+0.0137%	8h	66.255	−0.142%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0138%	4h	66.240	−0.166%	$2.7M	$917K	100x	as long as short
Bybit XAGUSDT	+0.0141%	4h	66.270	−0.121%	$26.7M	$36.2M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.244	−0.160%	$48K	—	10x	as long as short
Lighter XAG	+0.0176%	1h	66.255	−0.143%	$5.3M	$10.4M	25x	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	66.267	−0.125%	$1.2M	$4.4M	20x	as long as short
Binance XAGUSDT	+0.0191%	4h	66.255	−0.143%	$191.9M	$705.9M	100x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.240	−0.166%	$110.5M	$151.8M	1000x	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-SWAPshort	+0.0217%	8h	66.260	−0.136%	$27.8M	$65.6M	50x
Aftermath Perps XAGUSD	+0.0233%	1h	66.281	−0.104%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0238%	1h	66.215	−0.204%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	66.199	−0.228%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0254%	4h	66.260	−0.136%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0266%	1h	66.264	−0.130%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.380	+0.045%	$393K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0330% / S −0.0341%	1h	66.255	−0.143%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.240	−0.166%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.198	−0.229%	$763K	$475K	25x	as long as short