Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0160%/8h= +17.5% APRpaid last 24h +0.017%

Price spread now: MEXC against Polymarket Perps+0.059%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$110.113% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 7 days+0.018%+$2 · spread now +0.059%, 7d avg +0.088%

Together, before fees−0.019%−$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.029% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.059% now, against its 7-day average of +0.088%). If the spread goes back, that is −$3 on $10k: about 14 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	66.061	0.0050	pay 0.0006% / 1h	10m 12s	$3.9M	$672K	20x
Short	MEXC SILVER_USDT	66.100	0.0210	get 0.0105% / 4h	10m 12s	$110.5M	$153.0M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against Polymarket Perps. 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 Polymarket PerpsbpFee MEXCbpOrdersPrice spread, now +0.059%Rate

Funding earned: $33.6
Price spread: +0.059% → +0.088%: −$2.85
Slippage, 4 orders: −$3.28
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: $19.46
Costs to cover: 0.113%
Break-even: 2.9 days

Slippage from Polymarket Perps: live order book, 4 min ago; MEXC: live order book, 4 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 Polymarket Perps live order book, 4 min ago	0.45 bp	4.5 bp −$4	5.5 bp −$55	7.9 bp −$794	doesn't fit
Sell MEXC live order book, 4 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	3.8 bp −$1,892

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	66.018	−0.065%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.110	+0.074%	$150.1M	$163.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.100	+0.059%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.104%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.140	+0.120%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.028	−0.050%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.093	+0.048%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.025	−0.055%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.513%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.070	+0.014%	$795K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0044%	1h	65.960	−0.153%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.514	+0.686%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.027	−0.051%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	66.061	long leg	$3.9M	$672K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.021	−0.061%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.090	+0.044%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.025	−0.054%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.057	−0.006%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.029	−0.048%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.050	−0.017%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	−0.002%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0126%	1h	66.063	+0.003%	$166.0M	$74.4M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.077	+0.023%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0141%	8h	66.078	+0.026%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0144%	4h	66.080	+0.029%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0168%	4h	66.130	+0.104%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.088	+0.041%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.097	+0.055%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.062%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	+0.003%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDTshort	+0.0210%	4h	66.100	+0.059%	$110.5M	$153.0M	1000x
BloFin XAG-USDT	+0.0212%	4h	66.120	+0.089%	$2.6M	$554K	100x	as long as short
Binance XAGUSDT	+0.0212%	4h	66.116	+0.083%	$192.8M	$700.1M	100x	as long as short
Nado XAG-PERP	+0.0213%	1h	66.029	−0.049%	$1.4M	$6.4M	10x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	+0.012%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0222%	4h	66.092	+0.048%	$671K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	66.110	+0.074%	$27.7M	$65.0M	50x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.100	+0.059%	$23.8M	$45.4M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.094	+0.050%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0289%	1h	66.104	+0.065%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.080	+0.029%	$75K	$362K	20x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.020	−0.062%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.115	+0.082%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.070	+0.013%	$912K	$683K	25x	as long as short