Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0061%/8h= +6.6% APRpaid last 24h +0.022%

Price spread now: RISEx against Phemex−0.015%7-day average −0.030% · 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−$29as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Phemex Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.072%+$7 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now −0.015%, 7d avg −0.030%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: +$2 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	65.370	0	get 0.0000% / 4h	1h 38m	$1.5M	$280K	100x
Short	RISEx XAG/USDC	65.360	0.0061	get 0.0008% / 1h	38m 11s	$1.3M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now −0.015%Rate

Funding earned: $12.75
Price spread: −0.015% → −0.030%: $1.41
Slippage, 4 orders: −$12.81
Fee Phemex: 6 bp × 2 orders: −$12
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$16.64
Costs to cover: 0.308%
Break-even: 16.1 days

Slippage from Phemex: live order book, 4 min ago; RISEx: 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, 4 min ago	1.53 bp	9.0 bp −$9	16.7 bp −$167	doesn't fit	doesn't fit
Sell RISEx live order book, 1 min ago	1.20 bp	4.2 bp −$4	4.7 bp −$47	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
Hibachi XAG/USDT-P	−0.0128%	1h	65.358	−0.018%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0075%	1h	65.240	−0.199%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0024%	1h	65.329	−0.063%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.114%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.370	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.400	+0.046%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.370	long leg	$1.5M	$280K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.289	−0.123%	$118K	—	250x	as long as short
Bybit XAGUSDT	+0.0015%	4h	65.370	0.000%	$28.4M	$39.7M	150x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.370	0.000%	$141.2M	$181.3M	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	65.345	−0.039%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.294	−0.116%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.576%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.350	−0.031%	$786K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0045%	4h	65.360	−0.016%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.770	+0.612%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.360	−0.015%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.325	−0.069%	$170.2M	$83.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.326	−0.067%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.290	−0.122%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.339	−0.047%	$29K	$1K	5x	as long as short
Variational Omni XAG	+0.0060%	4h	65.414	+0.067%	$5.5M	$9.4M	—	as long as short
RISEx XAG/USDCshort	+0.0061%	1h	65.360	−0.015%	$1.3M	$4.9M	20x
Phoenix SILVER	+0.0061%	1h	65.377	+0.011%	$56K	$31K	25x	as long as short
MEXC SILVER_USDT	+0.0074%	4h	65.350	−0.031%	$115.3M	$157.2M	1000x	as long as short
Binance XAGUSDT	+0.0074%	4h	65.357	−0.020%	$189.9M	$763.7M	100x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.306	−0.098%	$487K	$30.6M	8.1x	as long as short
Aevo XAG-PERP	+0.0080%	1h	65.344	−0.040%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0095%	4h	65.402	+0.049%	$666K	$312K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.291	−0.121%	$466K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.330	−0.061%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.370	0.000%	$112K	$19K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.346	−0.036%	$5.4M	$11.4M	25x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.409	+0.060%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	+0.015%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0120%	1h	65.321	−0.075%	$1.2M	$5.5M	10x	as long as short
Bullet SILVER-USD	+0.0163%	1h	65.361	−0.014%	$43K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0186%	4h	65.360	−0.015%	$23.8M	$46.6M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	65.350	−0.031%	$27.9M	$71.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.330	−0.061%	$65K	$375K	20x	as long as short
Aftermath Perps XAGUSD	+0.0215%	1h	65.355	−0.024%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0299%	4h	65.410	+0.061%	$2.6M	$610K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0318% / S −0.0301%	1h	65.345	−0.038%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.317	−0.081%	$915K	$746K	25x	as long as short