Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0204%/8h= +22.3% APRpaid last 24h +0.083%

Price spread now: Deribit against SunX−0.015%7-day average −0.022% · 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−$81as in the Price arb table

costs, in and out, $10k−$810.815% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.145%+$14 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.015%, 7d avg −0.022%

Together, before fees+0.141%+$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.022%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.160	0	get 0.0000% / 4h	2h 44m	$2K	$2.6M	20x
Short	Deribit SILVER_USDC-PERPETUAL	66.150	0.0204	get 0.0025% / 1h	44m 28s	$74K	$364K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now −0.015%Rate

Funding earned: $42.78
Price spread: −0.015% → −0.022%: $0.64
Slippage, 4 orders: −$66.45
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$38.03
Costs to cover: 0.815%
Break-even: 13.2 days

Slippage from SunX: live order book, 3 min ago; Deribit: 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 SunX live order book, 3 min ago	29.48 bp	33.5 bp −$33	62.6 bp −$626	doesn't fit	doesn't fit
Sell Deribit live order book, 4 min ago	0.76 bp	4.3 bp −$4	4.3 bp −$43	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
Ondo Perps XAG-USD.P	−0.0040%	1h	66.050	−0.166%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.104	−0.085%	$14K	$66	5x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.160	long leg	$2K	$2.6M	20x
HTX XAG-USDT	0.0000%	4h	66.180	+0.030%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.170	+0.015%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.109	−0.077%	$121K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	66.169	+0.014%	$1.3M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.151	−0.013%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.107	−0.080%	$5.2M	$11.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.363%	$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
Phoenix SILVER	+0.0036%	1h	66.100	−0.091%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.160	0.000%	$796K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0042%	4h	66.180	+0.030%	$149.9M	$154.0M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.585	+0.642%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.121	−0.059%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.110	−0.076%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.150	−0.015%	$114K	$2.7M	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	66.143	−0.025%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0064%	4h	66.170	+0.015%	$27.8M	$36.2M	150x	as long as short
tradeXYZ xyz:SILVER	+0.0064%	1h	66.129	−0.047%	$166.6M	$73.9M	25x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	66.116	−0.067%	$519K	$26.7M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.109	−0.078%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.130	−0.045%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.100	−0.091%	$113K	$30K	50x	as long as short
BloFin XAG-USDT	+0.0102%	4h	66.150	−0.015%	$2.6M	$571K	100x	as long as short
Aster XAGUSDT	+0.0106%	4h	66.160	0.000%	$2.7M	$873K	100x	as long as short
Lighter XAG	+0.0136%	1h	66.155	−0.008%	$5.3M	$10.6M	25x	as long as short
Variational Omni XAG	+0.0144%	4h	66.123	−0.055%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0152%	1h	66.158	−0.003%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0156%	4h	66.162	+0.003%	$191.2M	$702.7M	100x	as long as short
MEXC SILVER_USDT	+0.0156%	4h	66.150	−0.015%	$116.5M	$151.8M	1000x	as long as short
Nado XAG-PERP	+0.0160%	1h	66.121	−0.059%	$1.4M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0167%	4h	66.132	−0.042%	$671K	$312K	30x	as long as short
Hotstuff SILVER-PERP	+0.0168%	1h	66.136	−0.036%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.980	−0.272%	$1.8M	$1.0M	20x	as long as short
Aftermath Perps XAGUSD	+0.0194%	1h	66.101	−0.089%	$80K	$36K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0196%	4h	66.160	0.000%	$389K	$1.5M	25x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0204%	1h	66.150	−0.015%	$74K	$364K	20x
Bitget XAGUSDT	+0.0218%	4h	66.160	0.000%	$24.0M	$44.8M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	66.160	0.000%	$27.8M	$64.6M	50x	as long as short
Bullet SILVER-USD	+0.0223%	1h	66.166	+0.009%	$43K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0312%	1h	66.112	−0.072%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0443%	1h	66.165	+0.008%	$106K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0466%	1h	66.135	−0.038%	$909K	$688K	25x	as long as short