Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0135%/8h= −14.8% APRpaid last 24h −0.018%

Price spread now: QFEX against Variational Omni−0.051%47s7-day average −0.043% · you buy dearer than you sell

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

Long on Variational Omni Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.022%−$2 on $10k

Price spread, last 7 days+0.030%+$3 · spread now −0.051%, 7d avg −0.043%

Together, before fees+0.008%+ Points / potential airdropVariational Omni: Active · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.043%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.003	0.0195	pay 0.0098% / 4h	3h 43m	$5.6M	$9.4M	—
Short	QFEX SILVER-USD	65.970	0.0060	get 0.0007% / 1h	43m 41s	$114K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX against Variational Omni. 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 Variational OmnibpFee QFEXbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$28.44
Price spread: −0.051% → −0.043%: −$0.77
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$39.21
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, just now; QFEX: live order book, 9 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 Variational Omni RFQ quote, just now	2.57 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.52 bp	9.4 bp −$9	9.5 bp −$95	10.0 bp −$999	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	−0.0046%	1h	65.870	−0.202%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.106%	$14K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.980	−0.036%	$149.5M	$163.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.960	−0.066%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.030	+0.040%	$1.0M	$967K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.980	−0.036%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.910	−0.142%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.954	−0.075%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.901	−0.155%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.601%	$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	66.010	+0.010%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.415	+0.624%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.932	−0.108%	$165.9M	$73.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.956	−0.072%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.900	−0.157%	$3K	$6K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.984	−0.029%	$35K	$21K	20x	as long as short
QFEX SILVER-USDshort	+0.0060%	1h	65.970	−0.051%	$114K	$2.7M	20x
Kalshi KXSILVERPERP	+0.0072%	24h	65.956	−0.072%	$538K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.967	−0.055%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.986	−0.027%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.906	−0.148%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.930	−0.111%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.970	−0.051%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.948	−0.084%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0121%	8h	65.959	−0.067%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0128%	4h	65.980	−0.036%	$27.3M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0138%	4h	65.969	−0.052%	$2.7M	$871K	100x	as long as short
BloFin XAG-USDT	+0.0159%	4h	66.000	−0.005%	$2.6M	$556K	100x	as long as short
Nado XAG-PERP	+0.0171%	1h	65.940	−0.097%	$1.4M	$6.1M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	65.964	−0.060%	$47K	—	10x	as long as short
Variational Omni XAGlong	+0.0195%	4h	66.003	long leg	$5.6M	$9.4M	—
MEXC SILVER_USDT	+0.0204%	4h	65.960	−0.066%	$112.8M	$152.1M	1000x	as long as short
Binance XAGUSDT	+0.0204%	4h	65.970	−0.051%	$190.9M	$702.4M	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.940	−0.096%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.081%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0212%	4h	66.009	+0.009%	$394K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0213%	1h	65.967	−0.055%	$79K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.014	+0.016%	$670K	$312K	30x	as long as short
Bullet SILVER-USD	+0.0231%	1h	65.980	−0.036%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	65.980	−0.036%	$27.6M	$64.7M	50x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.970	−0.051%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	65.945	−0.088%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.975	−0.043%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.945	−0.089%	$910K	$683K	25x	as long as short