Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0055%/8h= +6.0% APRpaid last 24h +0.019%

Price spread now: MEXC against QFEX+0.015%7-day average +0.035% · 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−$19as in the Price arb table

costs, in and out, $10k−$170.175% of the position

Long on QFEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.026%+$3 on $10k

Price spread, last 7 days+0.045%+$5 · spread now +0.015%, 7d avg +0.035%

Together, before fees+0.071%+$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, 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	65.590	0.0051	pay 0.0006% / 1h	42m 57s	$446K	$1.4M	20x
Short	MEXC SILVER_USDT	65.600	0.0106	get 0.0053% / 4h	1h 42m	$110.6M	$163.3M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.015%Rate

Funding earned: $11.49
Price spread: +0.015% → +0.035%: −$1.97
Slippage, 4 orders: −$7.49
Fee QFEX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$7.96
Costs to cover: 0.175%
Break-even: 11.9 days

Slippage from QFEX: live order book, 1 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 QFEX live order book, 1 min ago	2.29 bp	8.7 bp −$9	8.8 bp −$88	9.8 bp −$980	13.9 bp −$6,974
Sell MEXC live order book, 4 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	4.5 bp −$2,242

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−3.2000%	1h	65.532	−0.088%	$36K	$23K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0002%	1h	65.490	−0.152%	$5.7M	$11.0M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.525	−0.098%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.630	+0.061%	$138.4M	$204.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.620	+0.046%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.640	+0.076%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.630	+0.061%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.566	−0.036%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.612	+0.034%	$4.6M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.559	−0.048%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.506%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.590	0.000%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.035	+0.678%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.571	−0.029%	$3.8M	$893K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.542	−0.073%	$3K	$6K	20x	as long as short
QFEX SILVER-USDlong	+0.0051%	1h	65.590	long leg	$446K	$1.4M	20x
Paradex XAG-USD-PERP	+0.0055%	8h	65.586	−0.006%	$29K	—	5x	as long as short
tradeXYZ xyz:SILVER	+0.0059%	1h	65.578	−0.018%	$174.3M	$94.1M	25x	as long as short
Variational Omni XAG	+0.0081%	4h	65.578	−0.018%	$5.7M	$9.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	65.542	−0.074%	$466K	$567K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.580	−0.015%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.590	0.000%	$112K	$19K	50x	as long as short
Kalshi KXSILVERPERP	+0.0100%	24h	65.595	+0.008%	$718K	$38.7M	8.1x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.591	+0.001%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.690	+0.152%	$1.6M	$1.9M	20x	as long as short
Aster XAGUSDT	+0.0104%	4h	65.600	+0.015%	$2.7M	$1.1M	100x	as long as short
Binance XAGUSDT	+0.0105%	4h	65.619	+0.044%	$191.5M	$864.1M	100x	as long as short
MEXC SILVER_USDTshort	+0.0106%	4h	65.600	+0.015%	$110.6M	$163.3M	1000x
edgeX XAGUSDC	+0.0115%	4h	65.564	−0.039%	$668K	$315K	30x	as long as short
Bybit XAGUSDT	+0.0116%	4h	65.630	+0.061%	$30.6M	$48.2M	150x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.606	+0.024%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0122%	1h	65.545	−0.069%	$55K	$14K	25x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	65.656	+0.101%	$396K	$1.5M	25x	as long as short
Nado XAG-PERP	+0.0138%	1h	65.571	−0.029%	$1.2M	$3.6M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.609	+0.029%	$5.1M	$11.6M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.600	+0.015%	$77K	$414K	20x	as long as short
Bullet SILVER-USD	+0.0208%	1h	65.616	+0.040%	$45K	$73K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0210%	8h	65.620	+0.046%	$28.0M	$85.7M	50x	as long as short
Aftermath Perps XAGUSD	+0.0224%	1h	65.609	+0.029%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0238%	4h	65.620	+0.046%	$23.2M	$52.7M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	65.554	−0.054%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0271% / S −0.0239%	1h	65.605	+0.023%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0347%	4h	65.590	0.000%	$2.7M	$771K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0548%	1h	65.578	−0.018%	$1.0M	$943K	25x	as long as short