Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0256%/8h= −28.0% APRpaid last 24h −0.052%

Price spread now: KuCoin against Deribit−0.030%7-day average −0.051% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.249% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.103%−$10 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now −0.030%, 7d avg −0.051%

Together, before fees−0.193%−$19 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.021% dearer against Deribit than usual: you sell high and buy low (spread −0.030% now, against its 7-day average of −0.051%): +$2 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 7 hours. At the pace of the last 4 days (−0.103% in total) that is about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SILVER_USDC-PERPETUAL	66.100	0.0356	pay 0.0044% / 1h	34m 20s	$62K	$348K	20x
Short	KuCoin XAGUSDTM	66.080	0.0100	get 0.0050% / 4h	34m 20s	$24.5M	$4.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$53.66
Price spread: −0.030% → −0.051%: $2.1
Slippage, 4 orders: −$5.91
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$76.46
Costs to cover: 0.249%
Break-even: never at this rate

Slippage from Deribit: live order book, 24 min ago; KuCoin: 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 Deribit live order book, 24 min ago	0.76 bp	4.3 bp −$4	9.3 bp −$93	doesn't fit	doesn't fit
Sell KuCoin live order book, 5 min ago	1.51 bp	8.5 bp −$9	15.6 bp −$156	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	66.022	−0.117%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.140	+0.061%	$150.1M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.140	+0.061%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.160	+0.091%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.130	+0.045%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.056	−0.066%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.108	+0.012%	$4.7M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.054	−0.070%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.454%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.110	+0.015%	$795K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.549	+0.679%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.092	−0.012%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.052	−0.073%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.010	−0.136%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.120	+0.030%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.050	−0.076%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0069%	24h	66.085	−0.023%	$518K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.068	−0.048%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTMshort	+0.0100%	4h	66.080	−0.030%	$24.5M	$4.5M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	66.070	−0.045%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	66.074	−0.039%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0133%	1h	66.091	−0.014%	$165.5M	$74.0M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.124	+0.036%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.100	0.000%	$2.7M	$876K	100x	as long as short
Paradex XAG-USD-PERP	+0.0151%	8h	66.120	+0.030%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0159%	4h	66.150	+0.076%	$27.0M	$36.1M	150x	as long as short
Nado XAG-PERP	+0.0195%	1h	66.060	−0.061%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.119	+0.029%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.117	+0.026%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	+0.045%	$1.8M	$999K	20x	as long as short
BloFin XAG-USDT	+0.0201%	4h	66.110	+0.015%	$2.6M	$554K	100x	as long as short
Variational Omni XAG	+0.0210%	4h	66.123	+0.035%	$5.6M	$9.7M	—	as long as short
MEXC SILVER_USDT	+0.0216%	4h	66.120	+0.030%	$109.2M	$152.5M	1000x	as long as short
Binance XAGUSDT	+0.0216%	4h	66.133	+0.050%	$192.8M	$700.9M	100x	as long as short
edgeX XAGUSDC	+0.0220%	4h	66.135	+0.053%	$671K	$311K	30x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.091	−0.014%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.130	+0.045%	$27.8M	$65.5M	50x	as long as short
Bitget XAGUSDT	+0.0260%	4h	66.120	+0.030%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0286%	4h	66.160	+0.091%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0309%	1h	66.129	+0.044%	$45K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0356%	1h	66.100	long leg	$62K	$348K	20x
GMX SILVER/USD [ETH-USDC]	L +0.0376% / S −0.0410%	1h	66.135	+0.053%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.080	−0.030%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.088	−0.018%	$912K	$676K	25x	as long as short