Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h +0.014%

Price spread now: Variational Omni against QFEX+0.022%7-day average +0.043% · you sell dearer than you buy

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

Long on QFEX Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.020%+$2 on $10k

Price spread, last 7 days+0.012%+$1 · spread now +0.022%, 7d avg +0.043%

Together, before fees+0.032%+ Points / potential airdropVariational Omni: Active · farm board+$3 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 Variational Omni is 0.021% cheaper against QFEX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.043%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	64.890	0.0047	pay 0.0006% / 1h	36m 15s	$445K	$1.5M	20x
Short	Variational Omni XAG	64.904	0.0012	get 0.0006% / 4h	3h 36m	$5.3M	$9.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.022%Rate

Funding earned: −$7.17
Price spread: +0.022% → +0.043%: −$2.1
Slippage, 4 orders: no order book: not counted
Fee QFEX: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$19.27
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: QFEX: live order book, 5 min ago; Variational Omni: RFQ quote, 3 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 QFEX live order book, 5 min ago	2.31 bp	7.3 bp −$7	7.3 bp −$73	8.1 bp −$813	12.3 bp −$6,125
Sell Variational Omni RFQ quote, 3 min ago	2.59 bp	doesn't fit	2.6 bp −$26	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	−0.043%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	64.890	0.000%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	64.930	+0.062%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	64.940	+0.077%	$1.4M	$310K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.825	−0.100%	$117K	—	250x	as long as short
Variational Omni XAGshort	+0.0012%	4h	64.904	+0.022%	$5.3M	$9.1M	—
Gate XAG_USDT	+0.0016%	4h	64.920	+0.046%	$138.7M	$181.7M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	64.901	+0.017%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.827	−0.097%	$5.0M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+2.327%	$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	64.940	+0.077%	$781K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.304	+0.638%	—	—	25x	as long as short
QFEX SILVER-USDlong	+0.0047%	1h	64.890	long leg	$445K	$1.5M	20x
MEXC SILVER_USDT	+0.0048%	4h	64.890	0.000%	$121.0M	$158.0M	1000x	as long as short
Binance XAGUSDT	+0.0050%	4h	64.894	+0.007%	$195.8M	$769.5M	100x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	64.827	−0.097%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.822	−0.105%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.780	−0.170%	$5.6M	$9.9M	25x	as long as short
Paradex XAG-USD-PERP	+0.0059%	8h	64.889	−0.002%	$29K	$166	5x	as long as short
edgeX XAGUSDC	+0.0061%	4h	64.937	+0.073%	$661K	$313K	30x	as long as short
Aevo XAG-PERP	+0.0064%	1h	64.870	−0.030%	$47K	—	10x	as long as short
Aster XAGUSDT	+0.0065%	4h	64.890	0.000%	$2.6M	$997K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.850	−0.062%	$1.6M	$1.4M	20x	as long as short
Kalshi KXSILVERPERP	+0.0084%	24h	64.860	−0.046%	$484K	$33.8M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	64.925	+0.054%	$35K	$21K	20x	as long as short
Pacifica XAG	+0.0100%	1h	64.860	−0.046%	$463K	$592K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	64.850	−0.062%	$25.1M	$4.5M	75x	as long as short
GRVT XAG_USDT_Perp	+0.0100%	4h	64.907	+0.026%	$390K	$1.6M	25x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.880	−0.015%	$111K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	64.865	−0.039%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0137%	1h	64.869	−0.032%	$173.8M	$86.8M	25x	as long as short
Nado XAG-PERP	+0.0156%	1h	64.818	−0.111%	$1.2M	$4.3M	10x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.879	−0.017%	$1.2M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0170%	4h	64.920	+0.046%	$29.3M	$41.9M	150x	as long as short
Bitget XAGUSDT	+0.0186%	4h	64.910	+0.031%	$23.1M	$45.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0192%	8h	64.920	+0.046%	$28.6M	$72.6M	50x	as long as short
BloFin XAG-USDT	+0.0199%	4h	64.920	+0.046%	$2.7M	$646K	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0213%	1h	64.880	−0.015%	$76K	$426K	20x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	64.899	+0.013%	$78K	$37K	10x	as long as short
Lighter XAG	+0.0224%	1h	64.900	+0.015%	$5.3M	$11.0M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	64.895	+0.008%	$92K	—	111x	as long as short
Bullet SILVER-USD	+0.0299%	1h	64.882	−0.012%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0336%	1h	64.882	−0.013%	$20K	$15K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0420%	1h	64.875	−0.022%	$1.0M	$868K	25x	as long as short