Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0204%/8h= −22.4% APRpaid last 24h −0.083%

Price spread now: SunX against Deribit+0.045%7-day average +0.021% · 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−$78as in the Price arb table

costs, in and out, $10k−$800.801% of the position

Long on Deribit Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.142%−$14 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.045%, 7d avg +0.021%

Together, before fees−0.182%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.024% dearer against Deribit than usual: you sell high and buy low (spread +0.045% now, against its 7-day average of +0.021%): +$2 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 9 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SILVER_USDC-PERPETUAL	66.050	0.0204	pay 0.0026% / 1h	3m 34s	$75K	$363K	20x
Short	SunX XAG-USDT	66.080	0	get 0.0000% / 4h	3h 03m	$2K	$2.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.045%Rate

Funding earned: −$42.93
Price spread: +0.045% → +0.021%: $2.42
Slippage, 4 orders: −$65.06
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee SunX: 4 bp × 2 orders: −$8
Net: −$120.56
Costs to cover: 0.801%
Break-even: never at this rate

Slippage from Deribit: live order book, 50 min ago; SunX: 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 Deribit live order book, 50 min ago	0.76 bp	4.3 bp −$4	4.6 bp −$46	doesn't fit	doesn't fit
Sell SunX live order book, 4 min ago	29.52 bp	33.5 bp −$34	doesn't fit	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
Ondo Perps XAG-USD.P	−0.0050%	1h	65.930	−0.182%	$5.7M	$9.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.093%	$14K	$66	5x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.080	+0.045%	$2K	$2.6M	20x
HTX XAG-USDT	0.0000%	4h	66.100	+0.076%	$1.1M	$1.0M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.080	+0.045%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.010	−0.060%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.036	−0.021%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.983	−0.101%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.530%	$11K	$94K	52x	as long as short
Hotstuff SILVER-PERP	+0.0040%	1h	66.041	−0.014%	$35K	$21K	20x	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	66.080	+0.045%	$795K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0044%	4h	66.060	+0.015%	$149.8M	$164.5M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.482	+0.654%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.029	−0.032%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.009	−0.062%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	66.034	−0.025%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.030	−0.030%	$114K	$2.7M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	66.021	−0.044%	$166.3M	$73.9M	25x	as long as short
Phoenix SILVER	+0.0073%	1h	65.995	−0.083%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0074%	24h	66.036	−0.021%	$530K	$26.7M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.052	+0.003%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.984	−0.100%	$469K	$604K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.020	−0.045%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.990	−0.091%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0109%	4h	66.080	+0.045%	$27.8M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0120%	4h	66.063	+0.019%	$2.7M	$871K	100x	as long as short
Lighter XAG	+0.0120%	1h	66.036	−0.021%	$5.2M	$10.9M	25x	as long as short
Variational Omni XAG	+0.0164%	4h	66.053	+0.005%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.063	+0.020%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0174%	4h	66.056	+0.010%	$191.1M	$703.2M	100x	as long as short
MEXC SILVER_USDT	+0.0174%	4h	66.030	−0.030%	$115.0M	$152.9M	1000x	as long as short
edgeX XAGUSDC	+0.0183%	4h	66.054	+0.005%	$670K	$311K	30x	as long as short
Nado XAG-PERP	+0.0187%	1h	66.010	−0.060%	$1.4M	$5.8M	10x	as long as short
BloFin XAG-USDT	+0.0196%	4h	66.060	+0.015%	$2.6M	$570K	100x	as long as short
Aftermath Perps XAGUSD	+0.0198%	1h	66.022	−0.042%	$79K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0204%	1h	66.050	long leg	$75K	$363K	20x
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.980	−0.106%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0210%	4h	66.073	+0.035%	$395K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0223%	8h	66.060	+0.015%	$27.8M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.060	+0.015%	$24.0M	$44.9M	100x	as long as short
Bullet SILVER-USD	+0.0237%	1h	66.080	+0.045%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	66.042	−0.013%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.075	+0.038%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0623%	1h	66.045	−0.008%	$911K	$685K	25x	as long as short