Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0110%/8h= +12.0% APRpaid last 24h +0.036%

Price spread now: Bybit against Hotstuff+0.087%53s7-day average — · you sell dearer than you buy

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

Long on Hotstuff Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bybit is 0.087% dearer against Hotstuff than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff SILVER-PERP	66.312	0.0048	pay 0.0006% / 1h	26m 42s	$35K	$21K	20x
Short	Bybit XAGUSDT	66.370	0.0158	get 0.0079% / 4h	1h 26m	$26.9M	$36.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Hotstuff. 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 HotstuffbpFee BybitbpOrdersPrice spread, now +0.087%Rate

Funding earned: $23.06
Price spread: +0.087% → 0.000%: $8.75
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $15.8
Costs to cover: 0.160%
Break-even: 2.2 days

Slippage unknown: Hotstuff: no order-book sample; Bybit: live order book, 2 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	0.75 bp	6.3 bp −$6	8.3 bp −$83	15.4 bp −$1,544	63.1 bp −$31.5K

Hotstuff: 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
dYdX XAG-USD	0.0000%	1h	66.272	−0.060%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.350	+0.057%	$150.3M	$164.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.340	+0.042%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.380	+0.103%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.340	+0.042%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.272	−0.061%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.323	+0.016%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.271	−0.062%	$5.2M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.133%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	−0.093%	$797K	$2.9M	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	66.761	+0.677%	—	—	25x	as long as short
Hotstuff SILVER-PERPlong	+0.0048%	1h	66.312	long leg	$35K	$21K	20x
Polymarket Perps SILVER-USD	+0.0050%	1h	66.296	−0.024%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.263	−0.074%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.230	−0.124%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.330	+0.027%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.294	−0.027%	$533K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.278	−0.051%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.304	−0.012%	$166.0M	$74.3M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.285	−0.041%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.300	−0.018%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.260	−0.078%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.332	+0.030%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.340	+0.042%	$2.7M	$875K	100x	as long as short
Bybit XAGUSDTshort	+0.0158%	4h	66.370	+0.087%	$26.9M	$36.1M	150x
Aevo XAG-PERP	+0.0176%	1h	66.331	+0.029%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0179%	4h	66.321	+0.014%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.340	+0.042%	$1.3M	$4.5M	20x	as long as short
Lighter XAG	+0.0192%	1h	66.335	+0.034%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.270	−0.063%	$1.9M	$980K	20x	as long as short
MEXC SILVER_USDT	+0.0194%	4h	66.320	+0.012%	$103.4M	$153.4M	1000x	as long as short
BloFin XAG-USDT	+0.0195%	4h	66.320	+0.012%	$2.6M	$553K	100x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.346	+0.051%	$192.3M	$705.6M	100x	as long as short
edgeX XAGUSDC	+0.0206%	4h	66.322	+0.015%	$673K	$313K	30x	as long as short
Nado XAG-PERP	+0.0210%	1h	66.295	−0.026%	$1.3M	$6.6M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.340	+0.042%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.276	−0.055%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.340	+0.042%	$23.8M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0266%	4h	66.301	−0.017%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.063%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.345	+0.050%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0350% / S −0.0371%	1h	66.345	+0.050%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.320	+0.012%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.304	−0.012%	$915K	$671K	25x	as long as short