Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h +0.032%

Price spread now: Deribit against OKX+0.015%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.094%+$9 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.015%, 7d avg −0.005%

Together, before fees+0.144%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.020% dearer against OKX than usual: you sell high and buy low, +$2 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAG-USDT-SWAP	65.590	0.0211	pay 0.0211% / 8h	5h 43m	$27.9M	$85.7M	50x
Short	Deribit SILVER_USDC-PERPETUAL	65.600	0.0208	get 0.0026% / 1h	43m 53s	$77K	$414K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against OKX. 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 OKXbpFee DeribitbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$0.71
Price spread: +0.015% → −0.005%: $2.05
Slippage, 4 orders: −$7.56
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$23.22
Costs to cover: 0.246%
Break-even: never at this rate

Slippage from OKX: live order book, 3 min ago; Deribit: 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 OKX live order book, 3 min ago	0.76 bp	5.8 bp −$6	6.4 bp −$64	11.6 bp −$1,156	56.6 bp −$28.3K
Sell Deribit live order book, 3 min ago	0.76 bp	8.8 bp −$9	10.1 bp −$101	doesn't fit	doesn't fit

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	−3.2000%	1h	65.532	−0.088%	$36K	$23K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0002%	1h	65.490	−0.152%	$5.7M	$11.0M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.525	−0.098%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.630	+0.061%	$138.4M	$204.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.610	+0.030%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.630	+0.061%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.630	+0.061%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.566	−0.036%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.609	+0.029%	$4.6M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.532	−0.089%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.506%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.590	0.000%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.026	+0.665%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.560	−0.046%	$3.8M	$893K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.551	−0.059%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.590	0.000%	$446K	$1.4M	20x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	65.580	−0.015%	$29K	—	5x	as long as short
tradeXYZ xyz:SILVER	+0.0058%	1h	65.570	−0.030%	$174.3M	$94.1M	25x	as long as short
Variational Omni XAG	+0.0081%	4h	65.578	−0.018%	$5.7M	$9.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	65.544	−0.070%	$466K	$567K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.560	−0.046%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.620	+0.046%	$112K	$19K	50x	as long as short
Kalshi KXSILVERPERP	+0.0100%	24h	65.594	+0.006%	$718K	$38.7M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.690	+0.152%	$1.6M	$1.9M	20x	as long as short
Aster XAGUSDT	+0.0105%	4h	65.600	+0.015%	$2.7M	$1.1M	100x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	65.590	0.000%	$121.7M	$163.3M	1000x	as long as short
Binance XAGUSDT	+0.0107%	4h	65.588	−0.003%	$191.2M	$864.3M	100x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.604	+0.022%	$47K	—	10x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.600	+0.015%	$1.2M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0119%	4h	65.600	+0.015%	$30.6M	$48.2M	150x	as long as short
Phoenix SILVER	+0.0122%	1h	65.545	−0.069%	$55K	$14K	25x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	65.656	+0.101%	$396K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0130%	4h	65.649	+0.089%	$669K	$315K	30x	as long as short
Nado XAG-PERP	+0.0139%	1h	65.557	−0.050%	$1.2M	$3.6M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.607	+0.027%	$5.1M	$11.6M	25x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0208%	1h	65.600	+0.015%	$77K	$414K	20x
Bullet SILVER-USD	+0.0208%	1h	65.610	+0.030%	$44K	$73K	10x	as long as short
OKX XAG-USDT-SWAPlong	+0.0211%	8h	65.590	long leg	$27.9M	$85.7M	50x
Aftermath Perps XAGUSD	+0.0223%	1h	65.609	+0.029%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0240%	4h	65.590	0.000%	$23.2M	$52.8M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	65.554	−0.054%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0270% / S −0.0238%	1h	65.615	+0.038%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0349%	4h	65.590	0.000%	$2.7M	$771K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0548%	1h	65.581	−0.013%	$1.0M	$943K	25x	as long as short