Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.006%

Price spread now: ApeX Omni against MEXC−0.106%111s7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$24as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.382% of the position

Long on MEXC Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.147%+$15 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.106%, 7d avg +0.008%

Together, before fees+0.268%+$27 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.114% cheaper against MEXC than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.008%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.147%, so the current rate has only just turned against you. The two prices were read 111 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	MEXC SILVER_USDT	65.990	0.0200	pay 0.0100% / 4h	3h 37m	$112.9M	$152.1M	1000x
Short	ApeX Omni XAGUSDT	65.920	0.0100	get 0.0013% / 1h	37m 49s	$113K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against MEXC. 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 MEXCbpFee ApeX OmnibpOrdersPrice spread, now −0.106%Rate

Funding earned: −$21
Price spread: −0.106% → +0.008%: −$11.4
Slippage, 4 orders: −$28.23
Fee MEXC: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$70.62
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; ApeX Omni: live order book, 13 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 MEXC live order book, 1 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	2.8 bp −$1,393
Sell ApeX Omni live order book, 13 min ago	4.55 bp	18.3 bp −$18	51.0 bp −$510	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	−0.0045%	1h	65.880	−0.167%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.085%	$14K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.010	+0.030%	$149.6M	$163.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.980	−0.015%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.010	+0.030%	$1.0M	$966K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.990	0.000%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.920	−0.106%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.986	−0.005%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.933	−0.086%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.621%	$11K	$94K	52x	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	66.000	+0.015%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.406	+0.630%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.947	−0.065%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.946	−0.067%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.920	−0.106%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0051%	1h	65.959	−0.047%	$166.0M	$73.5M	25x	as long as short
QFEX SILVER-USD	+0.0060%	1h	65.970	−0.030%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	65.942	−0.073%	$540K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.889	−0.153%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.982	−0.012%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.940	−0.076%	$469K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.970	−0.030%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTshort	+0.0100%	1h	65.920	−0.106%	$113K	$30K	50x
Bybit XAGUSDT	+0.0107%	4h	66.010	+0.030%	$27.4M	$36.4M	150x	as long as short
Lighter XAG	+0.0112%	1h	65.984	−0.010%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0113%	8h	65.986	−0.005%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0137%	4h	65.970	−0.030%	$2.7M	$871K	100x	as long as short
Nado XAG-PERP	+0.0181%	1h	65.937	−0.080%	$1.4M	$5.9M	10x	as long as short
Aevo XAG-PERP	+0.0184%	1h	65.976	−0.021%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0188%	4h	65.963	−0.040%	$5.6M	$9.4M	—	as long as short
MEXC SILVER_USDTlong	+0.0200%	4h	65.990	long leg	$112.9M	$152.1M	1000x
Binance XAGUSDT	+0.0200%	4h	66.000	+0.015%	$191.1M	$702.3M	100x	as long as short
BloFin XAG-USDT	+0.0204%	4h	66.000	+0.015%	$2.6M	$556K	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.960	−0.045%	$75K	$363K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0206%	4h	65.973	−0.026%	$394K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.061%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0213%	4h	65.953	−0.056%	$669K	$310K	30x	as long as short
Aftermath Perps XAGUSD	+0.0213%	1h	65.954	−0.055%	$79K	$36K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.000	+0.015%	$27.7M	$64.8M	50x	as long as short
Bullet SILVER-USD	+0.0233%	1h	65.984	−0.009%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0240%	4h	66.010	+0.030%	$23.9M	$45.3M	100x	as long as short
Hibachi XAG/USDT-P	+0.0328%	1h	65.940	−0.076%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.985	−0.008%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.952	−0.058%	$910K	$683K	25x	as long as short