Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h +0.011%

Price spread now: Bybit against QFEX+0.015%7-day average +0.060% · 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−$34as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on QFEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 7 days+0.048%+$5 · spread now +0.015%, 7d avg +0.060%

Together, before fees+0.055%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.045% cheaper against QFEX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.060%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	65.150	0.0044	pay 0.0006% / 1h	9m 21s	$171K	$1.4M	20x
Short	Bybit XAGUSDT	65.160	0	get 0.0000% / 4h	9m 21s	$27.7M	$39.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against QFEX. 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 QFEXbpFee BybitbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$9.29
Price spread: +0.015% → +0.060%: −$4.48
Slippage, 4 orders: −$8.6
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.37
Costs to cover: 0.296%
Break-even: never at this rate

Slippage from QFEX: live order book, 2 min ago; Bybit: 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 QFEX live order book, 2 min ago	1.53 bp	8.0 bp −$8	8.1 bp −$81	9.4 bp −$939	doesn't fit
Sell Bybit live order book, 4 min ago	0.77 bp	6.3 bp −$6	8.3 bp −$83	17.4 bp −$1,743	54.8 bp −$27.4K

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	−0.0027%	1h	65.040	−0.169%	$5.7M	$9.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.120	−0.046%	$12K	$5K	5x	as long as short
Bybit XAGUSDTshort	0.0000%	4h	65.160	+0.015%	$27.7M	$39.1M	150x
Variational Omni XAG	0.0000%	4h	65.227	+0.118%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.150	0.000%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.170	+0.031%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.150	0.000%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.080	−0.107%	$118K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	65.128	−0.034%	$35K	$21K	20x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.160	+0.015%	$140.4M	$181.5M	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	65.141	−0.014%	$4.6M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.091	−0.090%	$5.0M	$11.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.919%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0034%	4h	65.140	−0.015%	$125.9M	$162.3M	1000x	as long as short
Binance XAGUSDT	+0.0034%	4h	65.150	0.000%	$191.4M	$755.4M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.240	+0.138%	$785K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0040%	4h	65.158	+0.013%	$2.7M	$976K	100x	as long as short
QFEX SILVER-USDlong	+0.0044%	1h	65.150	long leg	$171K	$1.4M	20x
Vest SI-PERP	+0.0046%	1h	65.588	+0.672%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.147	−0.005%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.128	−0.034%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.088	−0.095%	$3K	$6K	20x	as long as short
edgeX XAGUSDC	+0.0050%	4h	65.251	+0.155%	$664K	$312K	30x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.141	−0.014%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.211	+0.094%	$56K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	65.120	−0.046%	$173.1M	$84.5M	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.146	−0.006%	$490K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.276%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.100	−0.076%	$463K	$598K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.110	−0.061%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.200	+0.077%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.158	+0.013%	$1.3M	$4.9M	20x	as long as short
BloFin XAG-USDT	+0.0138%	4h	65.150	0.000%	$2.7M	$625K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0144%	4h	65.219	+0.106%	$394K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0154%	1h	65.116	−0.052%	$1.2M	$4.7M	10x	as long as short
Bitget XAGUSDT	+0.0160%	4h	65.150	0.000%	$23.2M	$44.8M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0172%	8h	65.150	0.000%	$28.4M	$70.5M	50x	as long as short
Lighter XAG	+0.0184%	1h	65.128	−0.034%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0192%	1h	65.145	−0.007%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0211%	1h	65.130	−0.031%	$65K	$397K	20x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.173	+0.035%	$20K	$17K	10x	as long as short
Bullet SILVER-USD	+0.0234%	1h	65.159	+0.014%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.145	−0.008%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.119	−0.048%	$1.0M	$869K	25x	as long as short