Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0042%/8h= +4.6% APRpaid last 24h +0.015%

Price spread now: QFEX against SunX−0.046%7-day average −0.028% · 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−$85as in the Price arb table

costs, in and out, $10k−$830.832% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.024%+$2 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.046%, 7d avg −0.028%

Together, before fees+0.021%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: +$1 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	65.590	0	get 0.0000% / 4h	43m 17s	$2K	$2.3M	20x
Short	QFEX SILVER-USD	65.560	0.0042	get 0.0005% / 1h	43m 17s	$446K	$1.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.046%Rate

Funding earned: $8.89
Price spread: −0.046% → −0.028%: −$1.73
Slippage, 4 orders: −$65.22
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$76.06
Costs to cover: 0.832%
Break-even: 66.9 days

Slippage from SunX: live order book, 7 min ago; QFEX: live order book, 1 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, 7 min ago	29.70 bp	33.7 bp −$34	62.5 bp −$625	doesn't fit	doesn't fit
Sell QFEX live order book, 1 min ago	1.52 bp	6.5 bp −$7	6.5 bp −$65	8.2 bp −$816	12.2 bp −$6,082

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
dYdX XAG-USD	0.0000%	1h	65.558	−0.049%	$13K	$8K	5x	as long as short
RISEx XAG/USDC	0.0000%	1h	65.584	−0.009%	$1.3M	$5.5M	20x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	65.599	+0.014%	$39K	$26K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	65.600	+0.015%	$136.1M	$201.4M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	65.590	long leg	$2K	$2.3M	20x
HTX XAG-USDT	0.0000%	4h	65.630	+0.061%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.620	+0.046%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.528	−0.095%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.578	−0.019%	$4.6M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.529	−0.092%	$5.1M	$12.2M	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	65.520	−0.107%	$788K	$3.0M	40x	as long as short
QFEX SILVER-USDshort	+0.0042%	1h	65.560	−0.046%	$446K	$1.4M	20x
Vest SI-PERP	+0.0046%	1h	66.017	+0.651%	—	—	25x	as long as short
Variational Omni XAG	+0.0047%	4h	65.488	−0.155%	$5.5M	$9.0M	—	as long as short
Bybit XAGUSDT	+0.0047%	4h	65.600	+0.015%	$30.3M	$48.7M	150x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.550	−0.061%	$3.8M	$1.5M	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.533	−0.087%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	65.500	−0.137%	$5.7M	$11.0M	25x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.564	−0.039%	$29K	—	5x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.560	−0.046%	$77K	$397K	20x	as long as short
Aster XAGUSDT	+0.0067%	4h	65.596	+0.010%	$2.7M	$1.2M	100x	as long as short
Binance XAGUSDT	+0.0070%	4h	65.590	0.000%	$189.5M	$866.1M	100x	as long as short
MEXC SILVER_USDT	+0.0070%	4h	65.580	−0.015%	$119.0M	$164.1M	1000x	as long as short
Lighter XAG	+0.0072%	1h	65.580	−0.016%	$5.3M	$11.9M	25x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.599	+0.014%	$47K	—	10x	as long as short
GRVT XAG_USDT_Perp	+0.0088%	4h	65.590	0.000%	$389K	$1.6M	25x	as long as short
edgeX XAGUSDC	+0.0090%	4h	65.502	−0.134%	$668K	$316K	30x	as long as short
tradeXYZ xyz:SILVER	+0.0095%	1h	65.561	−0.044%	$175.5M	$87.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.543	−0.071%	$462K	$518K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.560	−0.046%	$25.3M	$4.4M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.520	−0.107%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.560	−0.046%	$1.6M	$2.0M	20x	as long as short
Kalshi KXSILVERPERP	+0.0108%	24h	65.567	−0.035%	$744K	$39.5M	8.1x	as long as short
Nado XAG-PERP	+0.0116%	1h	65.552	−0.057%	$1.2M	$3.4M	10x	as long as short
Phoenix SILVER	+0.0134%	1h	65.542	−0.073%	$55K	$15K	25x	as long as short
OKX XAG-USDT-SWAP	+0.0167%	8h	65.590	0.000%	$27.6M	$87.5M	50x	as long as short
Bitget XAGUSDT	+0.0204%	4h	65.590	0.000%	$23.2M	$54.1M	100x	as long as short
Aftermath Perps XAGUSD	+0.0218%	1h	65.552	−0.058%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0223%	1h	65.603	+0.020%	$45K	$72K	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	65.562	−0.043%	$21K	$12K	10x	as long as short
BloFin XAG-USDT	+0.0281%	4h	65.580	−0.015%	$2.7M	$784K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0284% / S −0.0256%	1h	65.585	−0.008%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0540%	1h	65.561	−0.044%	$1.0M	$947K	25x	as long as short