Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: KuCoin against QFEX−0.031%7-day average −0.020% · 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−$34as in the Price arb table

costs, in and out, $10k−$330.331% of the position

Long on QFEX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.014%+$1 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.031%, 7d avg −0.020%

Together, before fees+0.034%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.020%, 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	QFEX SILVER-USD	65.350	0.0050	pay 0.0006% / 1h	24m 18s	$152K	$2.8M	20x
Short	KuCoin XAGUSDTM	65.330	0.0100	get 0.0050% / 4h	1h 24m	$25.3M	$5.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.031%Rate

Funding earned: $10.52
Price spread: −0.031% → −0.020%: −$1.04
Slippage, 4 orders: −$11.1
Fee QFEX: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$23.63
Costs to cover: 0.331%
Break-even: 22.7 days

Slippage from QFEX: live order book, 9 min ago; KuCoin: live order book, 5 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	2.30 bp	7.3 bp −$7	7.3 bp −$73	8.4 bp −$836	doesn't fit
Sell KuCoin live order book, 5 min ago	0.76 bp	8.5 bp −$8	15.6 bp −$156	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	−0.0176%	1h	65.320	−0.046%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0087%	1h	65.240	−0.168%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0040%	1h	65.321	−0.044%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.084%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.370	+0.031%	$27.8M	$39.9M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.370	+0.031%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.410	+0.092%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.390	+0.061%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.320	−0.047%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0026%	4h	65.370	+0.031%	$141.1M	$182.6M	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	65.369	+0.029%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.309	−0.062%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.607%	$11K	$94K	52x	as long as short
Variational Omni XAG	+0.0035%	4h	65.364	+0.021%	$5.5M	$9.4M	—	as long as short
Aster XAGUSDT	+0.0039%	4h	65.340	−0.015%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.360	+0.015%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.776	+0.652%	—	—	25x	as long as short
QFEX SILVER-USDlong	+0.0050%	1h	65.350	long leg	$152K	$2.8M	20x
tradeXYZ xyz:SILVER	+0.0050%	1h	65.325	−0.038%	$170.3M	$83.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.316	−0.052%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.313	−0.057%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	65.344	−0.009%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0060%	4h	65.350	0.000%	$116.1M	$157.5M	1000x	as long as short
Binance XAGUSDT	+0.0060%	4h	65.374	+0.037%	$191.0M	$763.5M	100x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.368	+0.028%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.347	−0.005%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0066%	4h	65.342	−0.013%	$665K	$312K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.364	+0.022%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.330	−0.031%	$517K	$31.0M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.308	−0.065%	$467K	$624K	10x	as long as short
KuCoin XAGUSDTMshort	+0.0100%	4h	65.330	−0.031%	$25.3M	$5.0M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	65.290	−0.092%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.363	+0.019%	$385K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.320	−0.046%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0129%	1h	65.320	−0.046%	$1.2M	$5.4M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.372	+0.034%	$5.4M	$11.4M	25x	as long as short
Bitget XAGUSDT	+0.0174%	4h	65.370	+0.031%	$23.8M	$46.4M	100x	as long as short
Bullet SILVER-USD	+0.0179%	1h	65.365	+0.023%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0183%	8h	65.370	+0.031%	$28.0M	$70.7M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.350	0.000%	$65K	$379K	20x	as long as short
Aftermath Perps XAGUSD	+0.0222%	1h	65.331	−0.029%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0242%	4h	65.340	−0.015%	$2.6M	$611K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.365	+0.023%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.333	−0.026%	$915K	$746K	25x	as long as short