Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0156%/8h= +17.1% APRpaid last 24h +0.050%

Price spread now: Nado against Phemex−0.092%7-day average −0.076% · 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−$37as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Phemex Short on Nado

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.087%+$9 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.092%, 7d avg −0.076%

Together, before fees+0.070%+ Points / potential airdropNado: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.076%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.110	0	get 0.0000% / 4h	3m 13s	$1.5M	$282K	100x
Short	Nado XAG-PERP	65.050	0.0156	get 0.0020% / 1h	3m 13s	$1.2M	$4.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado against Phemex. 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 PhemexbpFee NadobpOrdersPrice spread, now −0.092%Rate

Funding earned: $32.81
Price spread: −0.092% → −0.076%: −$1.61
Slippage, 4 orders: −$16.2
Fee Phemex: 6 bp × 2 orders: −$12
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$4
Costs to cover: 0.352%
Break-even: 7.9 days

Slippage from Phemex: live order book, 5 min ago; Nado: live order book, 1 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 Phemex live order book, 5 min ago	2.31 bp	11.3 bp −$11	19.0 bp −$190	doesn't fit	doesn't fit
Sell Nado live order book, 1 min ago	0.31 bp	4.9 bp −$5	8.5 bp −$85	32.9 bp −$3,286	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	−0.0021%	1h	64.970	−0.215%	$5.6M	$9.9M	25x	as long as short
Hotstuff SILVER-PERP	−0.0008%	1h	65.059	−0.078%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	64.997	−0.174%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.120	+0.015%	$27.7M	$39.0M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.110	0.000%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.130	+0.031%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.110	long leg	$1.5M	$282K	100x
Variational Omni XAG	+0.0003%	4h	65.056	−0.083%	$5.5M	$9.1M	—	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.031	−0.121%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.120	+0.015%	$140.3M	$182.1M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.088	−0.033%	$4.6M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.032	−0.119%	$4.9M	$11.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.981%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0036%	4h	65.100	−0.015%	$126.4M	$162.9M	1000x	as long as short
edgeX XAGUSDC	+0.0036%	4h	65.076	−0.053%	$662K	$313K	30x	as long as short
Binance XAGUSDT	+0.0039%	4h	65.106	−0.006%	$191.6M	$756.7M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.080	−0.046%	$783K	$3.0M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.090	−0.031%	$171K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.496	+0.593%	—	—	25x	as long as short
Aster XAGUSDT	+0.0047%	4h	65.070	−0.061%	$2.6M	$982K	100x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.069	−0.063%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.028	−0.126%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.062	−0.073%	$29K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0056%	1h	65.088	−0.034%	$47K	—	10x	as long as short
Phoenix SILVER	+0.0061%	1h	65.054	−0.086%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0075%	1h	65.068	−0.065%	$173.0M	$84.7M	25x	as long as short
Kalshi KXSILVERPERP	+0.0081%	24h	65.049	−0.094%	$489K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.030	−0.123%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.020	−0.138%	$463K	$598K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.050	−0.092%	$25.2M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.070	−0.061%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.104	−0.009%	$1.3M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0144%	4h	65.099	−0.017%	$385K	$1.6M	25x	as long as short
Nado XAG-PERPshort	+0.0156%	1h	65.050	−0.092%	$1.2M	$4.7M	10x
BloFin XAG-USDT	+0.0157%	4h	65.120	+0.015%	$2.7M	$626K	100x	as long as short
Bitget XAGUSDT	+0.0168%	4h	65.110	0.000%	$23.2M	$44.9M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0175%	8h	65.120	+0.015%	$28.2M	$70.8M	50x	as long as short
Lighter XAG	+0.0192%	1h	65.091	−0.029%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0199%	1h	65.079	−0.047%	$78K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.020	−0.138%	$20K	$15K	10x	as long as short
Bullet SILVER-USD	+0.0238%	1h	65.109	−0.002%	$44K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.105	−0.008%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.080	−0.046%	$1.0M	$869K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0365%	1h	65.080	−0.046%	$66K	$399K	20x	as long as short