Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0258%/8h= −28.3% APRpaid last 24h −0.046%

Price spread now: Variational Omni against GMX−0.002%7-day average −0.018% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.201%−$20 on $10k

Price spread, last 4 days (all we have)−0.041%−$4 · spread now −0.002%, 7d avg −0.018%

Together, before fees−0.241%+ Points / potential airdropVariational Omni: Active · farm board−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.018%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SILVER/USD [ETH-USDC]	65.415	L +0.0318% / S −0.0301%	pay 0.0040% / 1h	40m 16s	$93K	—	111x
Short	Variational Omni XAG	65.414	0.0060	get 0.0030% / 4h	1h 40m	$5.5M	$9.4M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against GMX. 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 GMXbpFee Variational OmnibpOrdersPrice spread, now −0.002%Rate

Funding earned: −$54.22
Price spread: −0.002% → −0.018%: $1.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$64.6
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Variational Omni: RFQ quote, 4 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Variational Omni RFQ quote, 4 min ago	2.58 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hibachi XAG/USDT-P	−0.0120%	1h	65.360	−0.084%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0081%	1h	65.300	−0.176%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.350	−0.099%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.430	+0.023%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.450	+0.054%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.440	+0.038%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.349	−0.101%	$118K	—	250x	as long as short
Bybit XAGUSDT	+0.0018%	4h	65.410	−0.008%	$28.4M	$39.6M	150x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.420	+0.008%	$141.3M	$181.2M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.398	−0.025%	$4.6M	$9.8M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.350	−0.099%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.506%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	−0.008%	$787K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0045%	4h	65.400	−0.023%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.825	+0.627%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.390	−0.038%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.379	−0.055%	$170.3M	$83.8M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.370	−0.069%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.346	−0.105%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.398	−0.026%	$29K	$1K	5x	as long as short
Variational Omni XAGshort	+0.0060%	4h	65.414	−0.002%	$5.5M	$9.4M	—
RISEx XAG/USDC	+0.0061%	1h	65.412	−0.005%	$1.3M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.384	−0.047%	$56K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	65.386	−0.044%	$35K	$21K	20x	as long as short
Binance XAGUSDT	+0.0076%	4h	65.407	−0.012%	$189.8M	$763.4M	100x	as long as short
MEXC SILVER_USDT	+0.0076%	4h	65.390	−0.038%	$115.4M	$157.1M	1000x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.386	−0.044%	$509K	$30.5M	8.1x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.401	−0.021%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0090%	4h	65.433	+0.028%	$666K	$314K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.363	−0.079%	$467K	$627K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.380	−0.054%	$25.4M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.410	−0.008%	$112K	$19K	50x	as long as short
Lighter XAG	+0.0104%	1h	65.400	−0.022%	$5.4M	$11.3M	25x	as long as short
Nado XAG-PERP	+0.0114%	1h	65.360	−0.083%	$1.2M	$5.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.427	+0.018%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	−0.054%	$1.6M	$1.4M	20x	as long as short
Bullet SILVER-USD	+0.0156%	1h	65.416	+0.002%	$43K	$77K	10x	as long as short
Bitget XAGUSDT	+0.0186%	4h	65.420	+0.008%	$23.8M	$46.6M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	65.400	−0.023%	$27.9M	$71.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.390	−0.038%	$65K	$374K	20x	as long as short
Aftermath Perps XAGUSD	+0.0212%	1h	65.408	−0.011%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0306%	4h	65.440	+0.038%	$2.6M	$610K	100x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0318% / S −0.0301%	1h	65.415	long leg	$93K	—	111x
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.380	−0.053%	$916K	$746K	25x	as long as short