Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SunX against Polymarket Perps+0.123%7-day average +0.071% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.103%+$10 · spread now +0.123%, 7d avg +0.071%

Together, before fees+0.007%+$1 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.052% dearer against Polymarket Perps than usual: you sell high and buy low (spread +0.123% now, against its 7-day average of +0.071%): +$5 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	64.860	0.0050	pay 0.0006% / 1h	35m 14s	$3.8M	$890K	20x
Short	SunX XAG-USDT	64.940	0	get 0.0000% / 4h	3h 35m	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.123%Rate

Funding earned: −$10.5
Price spread: +0.123% → +0.071%: $5.21
Slippage, 4 orders: no order book: not counted
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$21.29
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Polymarket Perps: live order book, 4 min ago; SunX: live order book, 2 min ago. Net counts fees only.

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	491.04 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	30.03 bp	34.0 bp −$34	63.0 bp −$630	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	64.862	+0.003%	$12K	$5K	5x	as long as short
SunX XAG-USDTshort	0.0000%	4h	64.940	+0.123%	$2K	$2.4M	20x
HTX XAG-USDT	0.0000%	4h	64.950	+0.139%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	64.940	+0.123%	$1.4M	$310K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.866	+0.009%	$117K	—	250x	as long as short
Variational Omni XAG	+0.0015%	4h	64.904	+0.068%	$5.3M	$9.1M	—	as long as short
Gate XAG_USDT	+0.0024%	4h	64.940	+0.123%	$139.8M	$181.8M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	64.924	+0.099%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.855	−0.008%	$5.0M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+2.374%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	64.890	+0.046%	$780K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.324	+0.715%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	64.920	+0.093%	$445K	$1.5M	20x	as long as short
MEXC SILVER_USDT	+0.0048%	4h	64.920	+0.093%	$121.1M	$158.0M	1000x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	64.860	long leg	$3.8M	$890K	20x
SoDEX SILVER-USD	+0.0050%	1h	64.850	−0.015%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.860	0.000%	$5.6M	$9.9M	25x	as long as short
Binance XAGUSDT	+0.0051%	4h	64.930	+0.107%	$195.9M	$771.9M	100x	as long as short
Paradex XAG-USD-PERP	+0.0060%	8h	64.890	+0.046%	$29K	$166	5x	as long as short
edgeX XAGUSDC	+0.0061%	4h	64.937	+0.119%	$661K	$313K	30x	as long as short
Aevo XAG-PERP	+0.0064%	1h	64.904	+0.067%	$47K	—	10x	as long as short
Aster XAGUSDT	+0.0067%	4h	64.921	+0.094%	$2.6M	$995K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.880	+0.031%	$1.6M	$1.4M	20x	as long as short
Kalshi KXSILVERPERP	+0.0084%	24h	64.923	+0.097%	$485K	$33.8M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	64.925	+0.100%	$35K	$21K	20x	as long as short
Pacifica XAG	+0.0100%	1h	64.852	−0.012%	$463K	$592K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	64.880	+0.031%	$25.1M	$4.5M	75x	as long as short
GRVT XAG_USDT_Perp	+0.0100%	4h	64.907	+0.072%	$390K	$1.6M	25x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.870	+0.015%	$111K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	64.892	+0.049%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0135%	1h	64.883	+0.035%	$173.9M	$86.8M	25x	as long as short
Nado XAG-PERP	+0.0156%	1h	64.925	+0.100%	$1.2M	$4.3M	10x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.919	+0.091%	$1.2M	$4.9M	20x	as long as short
Bitget XAGUSDT	+0.0188%	4h	64.930	+0.108%	$23.3M	$45.7M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0193%	8h	64.950	+0.139%	$28.6M	$72.6M	50x	as long as short
Bybit XAGUSDT	+0.0200%	4h	64.950	+0.139%	$29.1M	$42.2M	150x	as long as short
BloFin XAG-USDT	+0.0205%	4h	64.960	+0.154%	$2.7M	$646K	100x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	64.927	+0.103%	$78K	$37K	10x	as long as short
Lighter XAG	+0.0224%	1h	64.919	+0.090%	$5.3M	$11.0M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	64.935	+0.116%	$92K	—	111x	as long as short
Bullet SILVER-USD	+0.0300%	1h	64.921	+0.095%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0336%	1h	64.882	+0.033%	$20K	$15K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0367%	1h	64.910	+0.077%	$76K	$427K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0420%	1h	64.911	+0.079%	$1.0M	$872K	25x	as long as short