Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0152%/8h= −16.7% APRpaid last 24h −0.054%

Price spread now: Phemex against Nado−0.002%7-day average +0.075% · 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−$39as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Nado Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.084%−$8 on $10k

Price spread, last 4 days (all we have)+0.109%+$11 · spread now −0.002%, 7d avg +0.075%

Together, before fees+0.025%+ Points / potential airdropNado: Active · farm board+$3 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.077% cheaper against Nado than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.075%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XAG-PERP	65.691	0.0152	pay 0.0019% / 1h	8m 01s	$1.3M	$5.5M	10x
Short	Phemex XAGUSDT	65.690	0	get 0.0000% / 4h	2h 08m	$1.5M	$280K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Nado. 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 NadobpFee PhemexbpOrdersPrice spread, now −0.002%Rate

Funding earned: −$31.94
Price spread: −0.002% → +0.075%: −$7.72
Slippage, 4 orders: −$12.74
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$71.4
Costs to cover: 0.317%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Phemex: live order book, 5 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 Nado live order book, 1 min ago	0.08 bp	3.7 bp −$4	7.7 bp −$77	31.4 bp −$3,137	doesn't fit
Sell Phemex live order book, 5 min ago	0.76 bp	6.8 bp −$7	14.4 bp −$144	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
dYdX XAG-USD	0.0000%	1h	65.642	−0.075%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.700	+0.013%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.740	+0.074%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.690	−0.002%	$1.5M	$280K	100x
Ondo Perps XAG-USD.P	+0.0001%	1h	65.610	−0.124%	$5.6M	$9.7M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.649	−0.064%	$119K	—	250x	as long as short
Hibachi XAG/USDT-P	+0.0016%	1h	65.584	−0.162%	$20K	$19K	10x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.716	+0.038%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.680	−0.017%	$4.7M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.663	−0.043%	$5.2M	$11.7M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.079%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	65.648	−0.066%	$56K	$26K	25x	as long as short
Gate XAG_USDT	+0.0040%	4h	65.730	+0.059%	$144.9M	$180.3M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.620	−0.108%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.128	+0.665%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.670	−0.032%	$3.9M	$711K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.641	−0.076%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.690	−0.002%	$157K	$2.8M	20x	as long as short
Paradex XAG-USD-PERP	+0.0063%	8h	65.691	0.000%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERP	+0.0076%	24h	65.678	−0.020%	$448K	$28.9M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0079%	1h	65.678	−0.020%	$171.1M	$82.2M	25x	as long as short
Aster XAGUSDT	+0.0083%	4h	65.700	+0.013%	$2.7M	$944K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.660	−0.048%	$469K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.680	−0.017%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.580	−0.169%	$112K	$23K	50x	as long as short
Bybit XAGUSDT	+0.0118%	4h	65.750	+0.090%	$28.8M	$39.2M	150x	as long as short
Variational Omni XAG	+0.0127%	4h	65.584	−0.164%	$5.5M	$9.5M	—	as long as short
Lighter XAG	+0.0128%	1h	65.685	−0.009%	$5.4M	$11.4M	25x	as long as short
Binance XAGUSDT	+0.0135%	4h	65.738	+0.071%	$189.6M	$745.8M	100x	as long as short
MEXC SILVER_USDT	+0.0136%	4h	65.720	+0.044%	$124.1M	$161.8M	1000x	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.698	+0.010%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0147%	4h	65.560	−0.199%	$667K	$312K	30x	as long as short
Nado XAG-PERPlong	+0.0152%	1h	65.691	long leg	$1.3M	$5.5M	10x
Hotstuff SILVER-PERP	+0.0160%	1h	65.698	+0.010%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.660	−0.047%	$1.6M	$1.3M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.690	−0.002%	$66K	$368K	20x	as long as short
Aftermath Perps XAGUSD	+0.0208%	1h	65.547	−0.220%	$79K	$37K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0208%	4h	65.644	−0.071%	$398K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.730	+0.059%	$24.0M	$46.3M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	65.730	+0.059%	$27.9M	$70.2M	50x	as long as short
Bullet SILVER-USD	+0.0241%	1h	65.712	+0.032%	$44K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0361%	1h	65.705	+0.021%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0377%	4h	65.680	−0.017%	$2.6M	$622K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0469%	1h	65.675	−0.024%	$916K	$735K	25x	as long as short