Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX+0.030%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$890.890% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now +0.030%, 7d avg +0.024%

Together, before fees+0.020%+$2 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.250	0	get 0.0000% / 4h	1h 47m	$2K	$2.8M	20x
Short	Phemex XAGUSDT	66.270	0	get 0.0000% / 4h	1h 47m	$1.5M	$251K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → +0.024%: $0.61
Slippage, 4 orders: −$68.98
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$88.37
Costs to cover: 0.890%
Break-even: never at this rate

Slippage from SunX: live order book, 10 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 SunX live order book, 10 min ago	29.36 bp	33.4 bp −$33	62.5 bp −$625	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	0.75 bp	11.2 bp −$11	13.4 bp −$134	doesn't fit	doesn't fit

XAG on 43 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
Hotstuff SILVER-PERP	−0.0008%	1h	66.176	−0.112%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.178	−0.109%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.230	−0.030%	$151.1M	$161.8M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.250	long leg	$2K	$2.8M	20x
HTX XAG-USDT	0.0000%	4h	66.270	+0.030%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.270	+0.030%	$1.5M	$251K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.184	−0.100%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.196	−0.081%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.154	−0.145%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.226%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0036%	1h	66.110	−0.211%	$5.7M	$9.7M	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	0.000%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.668	+0.631%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.200	−0.075%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.179	−0.107%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.220	−0.045%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.201	−0.074%	$546K	$24.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0084%	1h	66.181	−0.104%	$165.7M	$74.7M	25x	as long as short
Phoenix SILVER	+0.0084%	1h	66.206	−0.066%	$56K	$26K	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.175	−0.113%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.180	−0.106%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.121%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.210	−0.060%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0137%	4h	66.233	−0.026%	$2.7M	$916K	100x	as long as short
Bybit XAGUSDT	+0.0142%	4h	66.240	−0.015%	$26.7M	$36.1M	150x	as long as short
Lighter XAG	+0.0168%	1h	66.211	−0.059%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.240	−0.015%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	−0.012%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.220	−0.045%	$1.2M	$4.4M	20x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.220	−0.045%	$191.7M	$706.3M	100x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.210	−0.060%	$110.5M	$151.9M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.151%	$1.9M	$972K	20x	as long as short
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.175%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.210	−0.060%	$27.8M	$65.5M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.229	−0.031%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0239%	1h	66.188	−0.094%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0250%	4h	66.220	−0.045%	$23.9M	$46.1M	100x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	66.160	−0.136%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0264%	1h	66.246	−0.006%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0278%	4h	66.277	+0.041%	$400K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0332% / S −0.0343%	1h	66.245	−0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.230	−0.030%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.196	−0.082%	$763K	$475K	25x	as long as short