Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.014%

Price spread now: QFEX against HTX−0.092%7-day average −0.066% · 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−$38as in the Price arb table

costs, in and out, $10k−$350.351% of the position

Long on HTX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.021%+$2 on $10k

Price spread, last 4 days (all we have)+0.049%+$5 · spread now −0.092%, 7d avg −0.066%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. QFEX is 0.025% cheaper against HTX than usual: you would sell low and buy high (spread −0.092% now, against its 7-day average of −0.066%). If the spread goes back, that is −$3 on $10k: about 40 hours of funding at the current rate (+$1 a day). At the pace of the last 4 days (+0.021% in total) that is about 4.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	65.450	0	get 0.0000% / 4h	1h 39m	$1.1M	$1.1M	75x
Short	QFEX SILVER-USD	65.390	0.0050	get 0.0006% / 1h	39m 42s	$152K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against HTX. 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 HTXbpFee QFEXbpOrdersPrice spread, now −0.092%Rate

Funding earned: $10.48
Price spread: −0.092% → −0.066%: −$2.52
Slippage, 4 orders: −$13.12
Fee HTX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$27.16
Costs to cover: 0.351%
Break-even: 25.1 days

Slippage from HTX: live order book, 4 min ago; QFEX: live order book, 3 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 HTX live order book, 4 min ago	4.58 bp	10.6 bp −$11	10.6 bp −$106	13.6 bp −$1,355	doesn't fit
Sell QFEX live order book, 3 min ago	1.53 bp	6.5 bp −$7	6.5 bp −$65	8.6 bp −$861	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
Hibachi XAG/USDT-P	−0.0120%	1h	65.360	−0.138%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0080%	1h	65.250	−0.306%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.350	−0.153%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.430	−0.031%	$2K	$2.6M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	65.450	long leg	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	65.440	−0.015%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.349	−0.155%	$118K	—	250x	as long as short
Bybit XAGUSDT	+0.0015%	4h	65.370	−0.122%	$28.4M	$39.6M	150x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.400	−0.076%	$141.2M	$181.3M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.353	−0.148%	$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	65.304	−0.224%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.451%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	−0.061%	$787K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0045%	4h	65.373	−0.118%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.825	+0.573%	—	—	25x	as long as short
QFEX SILVER-USDshort	+0.0050%	1h	65.390	−0.092%	$152K	$2.8M	20x
tradeXYZ xyz:SILVER	+0.0050%	1h	65.333	−0.179%	$170.2M	$83.0M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.370	−0.122%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.346	−0.159%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.345	−0.161%	$29K	$1K	5x	as long as short
Variational Omni XAG	+0.0060%	4h	65.414	−0.056%	$5.5M	$9.4M	—	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.363	−0.133%	$1.3M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.384	−0.101%	$56K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	65.386	−0.098%	$35K	$21K	20x	as long as short
MEXC SILVER_USDT	+0.0074%	4h	65.350	−0.153%	$115.4M	$157.1M	1000x	as long as short
Binance XAGUSDT	+0.0075%	4h	65.362	−0.135%	$189.6M	$763.1M	100x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.386	−0.098%	$509K	$30.5M	8.1x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.401	−0.074%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0090%	4h	65.433	−0.026%	$666K	$314K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.305	−0.221%	$466K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.350	−0.153%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.410	−0.061%	$112K	$19K	50x	as long as short
Lighter XAG	+0.0104%	1h	65.359	−0.139%	$5.4M	$11.3M	25x	as long as short
Nado XAG-PERP	+0.0114%	1h	65.360	−0.137%	$1.2M	$5.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.427	−0.035%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	−0.107%	$1.6M	$1.4M	20x	as long as short
Bullet SILVER-USD	+0.0156%	1h	65.416	−0.051%	$43K	$77K	10x	as long as short
Bitget XAGUSDT	+0.0184%	4h	65.360	−0.138%	$23.8M	$46.6M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	65.370	−0.122%	$27.9M	$71.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.390	−0.092%	$65K	$374K	20x	as long as short
Aftermath Perps XAGUSD	+0.0212%	1h	65.408	−0.065%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0306%	4h	65.440	−0.015%	$2.6M	$610K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0318% / S −0.0301%	1h	65.415	−0.053%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.380	−0.106%	$916K	$746K	25x	as long as short