Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0046%/8h= −5.0% APRpaid last 24h −0.014%

Price spread now: Phemex against Vest−0.634%45s7-day average — · you buy dearer than you sell

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

Long on Vest Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVest: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.634% cheaper against Vest than usual: you would sell low and buy high (−$63 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 45 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	Vest SI-PERP	65.797	0.0046	pay 0.0006% / 1h	57m 19s	—	—	25x
Short	Phemex XAGUSDT	65.380	0	get 0.0000% / 4h	57m 19s	$1.5M	$281K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Vest. 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 VestbpFee PhemexbpOrdersPrice spread, now −0.634%Rate

Funding earned: −$9.59
Price spread: −0.634% → 0.000%: −$63.38
Slippage, 4 orders: no order book: not counted
Fee Vest: 1 bp × 2 orders: −$2
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$86.97
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Vest: no order-book sample; Phemex: live order book, 1 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 Vest no order-book sample	—	—	—	—	—
Sell Phemex live order book, 1 min ago	1.53 bp	10.5 bp −$10	18.2 bp −$182	doesn't fit	doesn't fit

Vest: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	65.293	−0.766%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.440	−0.543%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.370	−0.649%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.420	−0.573%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.380	−0.634%	$1.5M	$281K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.351	−0.678%	$118K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0009%	1h	65.270	−0.801%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	65.360	−0.664%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0030%	4h	65.314	−0.735%	$5.5M	$9.2M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.387	−0.623%	$4.6M	$9.7M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.319	−0.726%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.916%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.410	−0.588%	$141.4M	$176.1M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	−0.710%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.410	−0.588%	$2.7M	$954K	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.390	−0.619%	$152K	$1.4M	20x	as long as short
Vest SI-PERPlong	+0.0046%	1h	65.797	long leg	—	—	25x
Polymarket Perps SILVER-USD	+0.0050%	1h	65.357	−0.669%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.303	−0.751%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.369	−0.651%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.380	−0.634%	$116.9M	$155.9M	1000x	as long as short
Binance XAGUSDT	+0.0055%	4h	65.410	−0.588%	$191.7M	$763.0M	100x	as long as short
Phoenix SILVER	+0.0061%	1h	65.294	−0.764%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0066%	4h	65.316	−0.732%	$665K	$315K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.365	−0.656%	$47K	—	10x	as long as short
tradeXYZ xyz:SILVER	+0.0078%	1h	65.365	−0.657%	$170.6M	$83.2M	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.347	−0.684%	$483K	$31.5M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.230	−0.862%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.320	−0.725%	$469K	$621K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.360	−0.664%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.260	−0.816%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.409	−0.589%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0142%	4h	65.325	−0.718%	$391K	$1.6M	25x	as long as short
Lighter XAG	+0.0144%	1h	65.373	−0.644%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0152%	1h	65.288	−0.774%	$20K	$18K	10x	as long as short
Nado XAG-PERP	+0.0153%	1h	65.348	−0.682%	$1.2M	$5.1M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.390	−0.619%	$23.7M	$45.8M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.370	−0.649%	$28.2M	$70.9M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.350	−0.679%	$66K	$385K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.296	−0.762%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0222%	4h	65.310	−0.740%	$2.6M	$598K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.375	−0.641%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0248%	1h	65.372	−0.646%	$44K	$75K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.342	−0.692%	$1.0M	$875K	25x	as long as short