Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.012%

Price spread now: Phemex against StandX+0.030%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$480.481% of the position

Long on StandX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now +0.030%, 7d avg +0.058%

Together, before fees+0.006%+ Points / potential airdropStandX: Active · farm board+$1 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 Phemex is 0.028% cheaper against StandX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.058%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	StandX XAG-USD	66.110	0.0040	pay 0.0005% / 1h	7m 38s	$795K	$3.1M	40x
Short	Phemex XAGUSDT	66.130	0	get 0.0000% / 4h	7m 38s	$1.5M	$317K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against StandX. 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 StandXbpFee PhemexbpOrdersPrice spread, now +0.030%Rate

Funding earned: −$8.4
Price spread: +0.030% → +0.058%: −$2.78
Slippage, 4 orders: −$28.14
Fee StandX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$59.32
Costs to cover: 0.481%
Break-even: never at this rate

Slippage from StandX: live order book, 1 min ago; Phemex: 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 StandX live order book, 1 min ago	3.03 bp	8.5 bp −$8	12.1 bp −$121	35.9 bp −$3,593	doesn't fit
Sell Phemex live order book, 5 min ago	0.76 bp	22.9 bp −$23	26.5 bp −$265	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	66.018	−0.139%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.100	−0.015%	$150.1M	$163.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.060	−0.076%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.030%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.130	+0.030%	$1.5M	$317K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.993	−0.177%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.074	−0.054%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.015	−0.144%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.439%	$11K	$94K	52x	as long as short
StandX XAG-USDlong	+0.0040%	1h	66.110	long leg	$795K	$3.1M	40x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0044%	1h	65.960	−0.227%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.517	+0.616%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.057	−0.080%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.057	−0.080%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.996	−0.172%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.090	−0.030%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.053	−0.086%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.040	−0.106%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.033	−0.116%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.060	−0.076%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.030	−0.121%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0127%	1h	66.053	−0.086%	$166.0M	$73.5M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.077	−0.051%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0144%	8h	66.084	−0.039%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0149%	4h	66.080	−0.045%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0172%	4h	66.120	+0.015%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.078	−0.049%	$5.3M	$10.8M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.075	−0.053%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.136%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	−0.071%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0214%	4h	66.090	−0.030%	$110.7M	$153.0M	1000x	as long as short
Nado XAG-PERP	+0.0215%	1h	66.038	−0.109%	$1.4M	$6.4M	10x	as long as short
Binance XAGUSDT	+0.0217%	4h	66.100	−0.015%	$192.7M	$699.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	−0.062%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0227%	4h	66.058	−0.079%	$670K	$311K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0235%	8h	66.090	−0.030%	$27.7M	$65.0M	50x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.100	−0.015%	$23.8M	$45.4M	100x	as long as short
BloFin XAG-USDT	+0.0264%	4h	66.120	+0.015%	$2.6M	$554K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0276%	4h	66.090	−0.030%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0290%	1h	66.081	−0.044%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.050	−0.091%	$75K	$362K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.075	−0.053%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0384%	1h	66.054	−0.085%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.045	−0.098%	$911K	$683K	25x	as long as short