Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0051%/8h= +5.5% APRpaid last 24h +0.011%

Price spread now: QFEX against Gate+0.015%7-day average −0.065% · 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−$27as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Gate Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.013%+$1 on $10k

Price spread, last 7 days−0.070%−$7 · spread now +0.015%, 7d avg −0.065%

Together, before fees−0.058%−$6 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and QFEX is 0.080% dearer against Gate than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.065%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAG_USDT	66.800	0	get 0.0000% / 4h	3h 48m	$155.6M	$165.9M	100x
Short	QFEX SILVER-USD	66.810	0.0051	get 0.0006% / 1h	48m 14s	$115K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Gate. 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 GatebpFee QFEXbpOrdersPrice spread, now +0.015%Rate

Funding earned: $10.63
Price spread: +0.015% → −0.065%: $7.98
Slippage, 4 orders: −$9.98
Fee Gate: 7.5 bp × 2 orders: −$15
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$16.36
Costs to cover: 0.350%
Break-even: 17.8 days

Slippage from Gate: live order book, 6 min ago; QFEX: 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 Gate live order book, 6 min ago	0.75 bp	8.2 bp −$8	9.5 bp −$95	12.1 bp −$1,206	15.1 bp −$7,566
Sell QFEX live order book, 4 min ago	1.50 bp	9.3 bp −$9	9.5 bp −$95	9.5 bp −$950	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	66.797	−0.004%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.810	+0.015%	$26.1M	$35.3M	150x	as long as short
Gate XAG_USDTlong	0.0000%	4h	66.800	long leg	$155.6M	$165.9M	100x
SunX XAG-USDT	0.0000%	4h	66.820	+0.030%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.820	+0.030%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.800	0.000%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.746	−0.080%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.793	−0.010%	$36K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.784	−0.024%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.751	−0.073%	$5.4M	$13.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.599%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.760	−0.060%	$803K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.263	+0.693%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.759	−0.061%	$57K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.758	−0.063%	$166.2M	$86.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.778	−0.033%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.742	−0.087%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.730	−0.105%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USDshort	+0.0051%	1h	66.810	+0.015%	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0060%	24h	66.769	−0.046%	$570K	$21.9M	8.1x	as long as short
Lighter XAG	+0.0072%	1h	66.786	−0.021%	$5.4M	$10.4M	25x	as long as short
Paradex XAG-USD-PERP	+0.0089%	8h	66.822	+0.034%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0091%	4h	66.775	−0.038%	$5.7M	$9.9M	—	as long as short
Pacifica XAG	+0.0100%	1h	66.771	−0.043%	$476K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.780	−0.030%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.750	−0.075%	$127K	$26K	50x	as long as short
Aster XAGUSDT	+0.0103%	4h	66.811	+0.016%	$2.8M	$1.1M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.785	−0.022%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	66.790	−0.015%	$117.1M	$155.7M	1000x	as long as short
Binance XAGUSDT	+0.0107%	4h	66.800	0.000%	$192.3M	$725.9M	100x	as long as short
edgeX XAGUSDC	+0.0115%	4h	66.802	+0.003%	$678K	$314K	30x	as long as short
Nado XAG-PERP	+0.0130%	1h	66.786	−0.021%	$1.3M	$6.5M	10x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.830	+0.045%	$1.3M	$4.2M	20x	as long as short
Bitget XAGUSDT	+0.0164%	4h	66.800	0.000%	$24.8M	$48.7M	100x	as long as short
BloFin XAG-USDT	+0.0164%	4h	66.830	+0.045%	$2.6M	$692K	100x	as long as short
Aftermath Perps XAGUSD	+0.0174%	1h	66.769	−0.046%	$80K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0183%	1h	66.815	+0.022%	$45K	$75K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.780	−0.030%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.810	+0.015%	$28.2M	$67.5M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0199%	1h	66.780	−0.030%	$51K	$344K	20x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.775	−0.037%	$20K	$22K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.790	−0.015%	$397K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.795	−0.007%	$104K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0487%	1h	66.769	−0.046%	$767K	$589K	25x	as long as short