Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0350%/8h= −38.3% APRpaid last 24h −0.024%

Price spread now: Injective against MEXC−1.491%55s7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Injective is 1.491% cheaper against MEXC than usual: you would sell low and buy high (−$149 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.058% in total (about -3.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SILVER_USDT	65.580	0.0130	pay 0.0065% / 4h	2h 02m	$121.1M	$169.3M	1000x
Short	Injective XAG/USDC PERP	64.602	−0.0220	pay 0.0028% / 1h	2m 25s	$11K	$240	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −1.491%Rate

Funding earned: −$73.5
Price spread: −1.491% → 0.000%: −$149.13
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$222.65
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 5 min ago; Injective: no order-book sample. 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 MEXC live order book, 5 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	1.4 bp −$139	3.8 bp −$1,883
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 exchanges

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
Hotstuff SILVER-PERP	−0.7240%	1h	65.679	+0.151%	$36K	$23K	20x	as long as short
Injective XAG/USDC PERPshort	−0.0220%	1h	64.602	−1.491%	$11K	$240	52x
Ondo Perps XAG-USD.P	−0.0008%	1h	65.490	−0.137%	$5.7M	$10.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.697	+0.178%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.600	+0.030%	$138.9M	$204.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.570	−0.015%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.790	+0.320%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.760	+0.274%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.630	+0.077%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.712	+0.202%	$4.5M	$9.8M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.592	+0.018%	$5.1M	$11.8M	10x	as long as short
StandX XAG-USD	+0.0040%	1h	65.580	0.000%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.039	+0.700%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.556	−0.037%	$3.8M	$894K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.532	−0.073%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0058%	8h	65.626	+0.070%	$29K	$166	5x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.580	0.000%	$445K	$1.4M	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.700	+0.183%	$1.6M	$1.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0098%	24h	65.705	+0.191%	$708K	$38.6M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.651	+0.109%	$467K	$572K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.590	+0.015%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.620	+0.061%	$112K	$19K	50x	as long as short
Variational Omni XAG	+0.0104%	4h	65.650	+0.106%	$5.7M	$9.2M	—	as long as short
Phoenix SILVER	+0.0110%	1h	65.625	+0.069%	$55K	$13K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0118%	1h	65.549	−0.047%	$174.4M	$93.8M	25x	as long as short
Binance XAGUSDT	+0.0127%	4h	65.580	0.000%	$193.2M	$859.4M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.570	−0.015%	$47K	—	10x	as long as short
MEXC SILVER_USDTlong	+0.0130%	4h	65.580	long leg	$121.1M	$169.3M	1000x
Aster XAGUSDT	+0.0130%	4h	65.600	+0.030%	$2.7M	$1.1M	100x	as long as short
edgeX XAGUSDC	+0.0138%	4h	65.677	+0.148%	$669K	$314K	30x	as long as short
Nado XAG-PERP	+0.0172%	1h	65.578	−0.002%	$1.2M	$3.7M	10x	as long as short
Bybit XAGUSDT	+0.0177%	4h	65.590	+0.015%	$30.4M	$47.9M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0182%	4h	65.613	+0.050%	$396K	$1.5M	25x	as long as short
Lighter XAG	+0.0192%	1h	65.668	+0.135%	$5.1M	$12.0M	25x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.618	+0.058%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	65.590	+0.015%	$28.0M	$85.4M	50x	as long as short
Aftermath Perps XAGUSD	+0.0225%	1h	65.567	−0.020%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	65.590	+0.015%	$23.2M	$52.5M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	65.502	−0.119%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0266% / S −0.0233%	1h	65.565	−0.023%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0273%	1h	65.585	+0.008%	$44K	$74K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0360%	1h	65.610	+0.046%	$77K	$411K	20x	as long as short
BloFin XAG-USDT	+0.0372%	4h	65.730	+0.229%	$2.7M	$762K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0772%	1h	65.591	+0.017%	$1.0M	$943K	25x	as long as short