Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h −0.058%

Price spread now: Bybit against Deribit+0.061%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$260.255% of the position

Long on Deribit Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−0.121%−$12 · spread now +0.061%, 7d avg +0.015%

Together, before fees−0.234%−$23 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.046% dearer against Deribit than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.015%): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SILVER_USDC-PERPETUAL	66.030	0.0205	pay 0.0026% / 1h	7m 10s	$75K	$363K	20x
Short	Bybit XAGUSDT	66.070	0.0096	get 0.0048% / 4h	3h 07m	$27.8M	$36.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Deribit. 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 DeribitbpFee BybitbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$22.81
Price spread: +0.061% → +0.015%: $4.55
Slippage, 4 orders: −$7.53
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.79
Costs to cover: 0.255%
Break-even: never at this rate

Slippage from Deribit: live order book, 46 min ago; Bybit: live order book, 2 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 Deribit live order book, 46 min ago	0.76 bp	4.3 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell Bybit live order book, 2 min ago	0.76 bp	6.3 bp −$6	8.2 bp −$82	16.7 bp −$1,667	61.9 bp −$30.9K

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
Ondo Perps XAG-USD.P	−0.0054%	1h	65.940	−0.136%	$5.7M	$9.2M	25x	as long as short
Hotstuff SILVER-PERP	−0.0016%	1h	66.012	−0.027%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.063%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.070	+0.061%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.080	+0.076%	$1.0M	$949K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.050	+0.030%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.982	−0.072%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.035	+0.007%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.985	−0.069%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.560%	$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	66.020	−0.015%	$794K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0042%	4h	66.060	+0.045%	$149.8M	$164.4M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.463	+0.656%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.014	−0.024%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.984	−0.070%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	66.030	0.000%	$30K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	66.015	−0.023%	$166.3M	$73.8M	25x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.030	0.000%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	65.977	−0.080%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	66.003	−0.041%	$537K	$26.5M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.051	+0.031%	$1.3M	$4.9M	20x	as long as short
Bybit XAGUSDTshort	+0.0096%	4h	66.070	+0.061%	$27.8M	$36.5M	150x
Pacifica XAG	+0.0100%	1h	65.984	−0.069%	$469K	$604K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.010	−0.030%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.960	−0.106%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0120%	1h	66.042	+0.018%	$5.2M	$10.9M	25x	as long as short
Aster XAGUSDT	+0.0120%	4h	66.050	+0.030%	$2.7M	$866K	100x	as long as short
Variational Omni XAG	+0.0163%	4h	66.003	−0.041%	$5.6M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.036	+0.009%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0175%	4h	66.050	+0.030%	$190.9M	$702.7M	100x	as long as short
MEXC SILVER_USDT	+0.0176%	4h	66.050	+0.030%	$114.5M	$152.8M	1000x	as long as short
edgeX XAGUSDC	+0.0182%	4h	66.013	−0.026%	$670K	$311K	30x	as long as short
Nado XAG-PERP	+0.0185%	1h	66.003	−0.042%	$1.4M	$5.8M	10x	as long as short
Aftermath Perps XAGUSD	+0.0197%	1h	66.013	−0.026%	$79K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0205%	1h	66.030	long leg	$75K	$363K	20x
GRVT XAG_USDT_Perp	+0.0206%	4h	66.028	−0.004%	$394K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.980	−0.076%	$1.8M	$1.0M	20x	as long as short
BloFin XAG-USDT	+0.0224%	4h	66.030	0.000%	$2.6M	$569K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0224%	8h	66.050	+0.030%	$27.7M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0228%	4h	66.060	+0.045%	$23.9M	$44.9M	100x	as long as short
Bullet SILVER-USD	+0.0235%	1h	66.052	+0.033%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	65.980	−0.076%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0440%	1h	66.055	+0.038%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	66.023	−0.011%	$911K	$685K	25x	as long as short