Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0054%/8h= −5.9% APRpaid last 24h −0.011%

Price spread now: Gate against QFEX−0.030%7-day average +0.065% · 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−$43as in the Price arb table

costs, in and out, $10k−$330.330% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 7 days+0.085%+$9 · spread now −0.030%, 7d avg +0.065%

Together, before fees+0.073%+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.095% cheaper against QFEX than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.065%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	66.420	0.0054	pay 0.0007% / 1h	58m 03s	$115K	$2.8M	20x
Short	Gate XAG_USDT	66.400	0	get 0.0000% / 4h	2h 58m	$154.1M	$159.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.030%Rate

Funding earned: −$11.41
Price spread: −0.030% → +0.065%: −$9.5
Slippage, 4 orders: −$8.04
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$53.94
Costs to cover: 0.330%
Break-even: never at this rate

Slippage from QFEX: live order book, 9 min ago; Gate: 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 QFEX live order book, 9 min ago	2.25 bp	7.3 bp −$7	7.3 bp −$73	8.3 bp −$831	doesn't fit
Sell Gate live order book, 1 min ago	0.75 bp	9.3 bp −$9	9.7 bp −$97	12.6 bp −$1,258	15.0 bp −$7,486

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	66.402	−0.026%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.420	0.000%	$25.9M	$35.7M	150x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.425	+0.008%	$35K	$21K	20x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.400	−0.030%	$154.1M	$159.6M	100x
SunX XAG-USDT	0.0000%	4h	66.460	+0.060%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.520	+0.151%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.450	+0.045%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.409	−0.017%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.410	−0.014%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.340	−0.120%	$5.4M	$12.5M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.030%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.470	+0.075%	$800K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.906	+0.732%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.507	+0.131%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.431	+0.017%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.385	−0.053%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.360	−0.090%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USDlong	+0.0054%	1h	66.420	long leg	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0059%	24h	66.411	−0.014%	$548K	$23.0M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.450	+0.045%	$1.2M	$4.3M	20x	as long as short
Aster XAGUSDT	+0.0095%	4h	66.415	−0.008%	$2.8M	$1.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.412	−0.011%	$473K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.420	0.000%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.530	+0.166%	$127K	$24K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0103%	1h	66.344	−0.114%	$165.5M	$85.1M	25x	as long as short
Variational Omni XAG	+0.0108%	4h	66.543	+0.186%	$5.6M	$9.8M	—	as long as short
Paradex XAG-USD-PERP	+0.0112%	8h	66.429	+0.014%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0123%	4h	66.552	+0.199%	$675K	$315K	30x	as long as short
MEXC SILVER_USDT	+0.0124%	4h	66.410	−0.015%	$107.5M	$155.9M	1000x	as long as short
Binance XAGUSDT	+0.0125%	4h	66.420	0.000%	$193.2M	$716.3M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.450	+0.045%	$48K	—	10x	as long as short
Lighter XAG	+0.0160%	1h	66.399	−0.032%	$5.3M	$10.4M	25x	as long as short
BloFin XAG-USDT	+0.0169%	4h	66.450	+0.045%	$2.6M	$686K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	−0.015%	$1.9M	$960K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.410	−0.015%	$27.9M	$66.6M	50x	as long as short
GRVT XAG_USDT_Perp	+0.0194%	4h	66.551	+0.197%	$402K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0198%	4h	66.390	−0.045%	$24.5M	$46.5M	100x	as long as short
Aftermath Perps XAGUSD	+0.0204%	1h	66.460	+0.060%	$80K	$39K	10x	as long as short
Nado XAG-PERP	+0.0243%	1h	66.420	+0.001%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0266%	1h	66.474	+0.081%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.475	+0.083%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.371	−0.074%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.440	+0.030%	$50K	$331K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.425	+0.007%	$766K	$552K	25x	as long as short