Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h 0.000%

Price spread now: ApeX Omni against Binance−0.030%79s7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$470.474% of the position

Long on Binance Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.146%+$15 on $10k

Price spread, last 2 days (all we have)+0.012%+$1 · spread now −0.030%, 7d avg −0.035%

Together, before fees+0.157%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.146%, so the current rate has only just turned against you. The two prices were read 79 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	Binance XAGUSDT	66.620	0.0123	pay 0.0061% / 4h	14m 14s	$191.9M	$724.1M	100x
Short	ApeX Omni XAGUSDT	66.600	0.0100	get 0.0013% / 1h	14m 14s	$127K	$26K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Binance. 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 BinancebpFee ApeX OmnibpOrdersPrice spread, now −0.030%Rate

Funding earned: −$4.74
Price spread: −0.030% → −0.035%: $0.53
Slippage, 4 orders: −$27.43
Fee Binance: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$51.63
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; ApeX Omni: live order book, 61 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 Binance live order book, 15 min ago	0.75 bp	5.8 bp −$6	5.8 bp −$58	7.8 bp −$782	20.0 bp −$10.0K
Sell ApeX Omni live order book, 61 min ago	3.78 bp	20.1 bp −$20	52.6 bp −$526	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
dYdX XAG-USD	0.0000%	1h	66.560	−0.090%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.640	+0.030%	$26.5M	$34.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.630	+0.015%	$156.1M	$174.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.630	+0.015%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.650	+0.045%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.630	+0.015%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.560	−0.091%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.605	−0.023%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.607	−0.020%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.561	−0.089%	$5.5M	$12.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.330%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.531	−0.134%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.560	−0.090%	$797K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.067	+0.671%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.591	−0.044%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.558	−0.093%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.530	−0.135%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.595	−0.038%	$581K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.620	0.000%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0070%	1h	66.586	−0.051%	$166.0M	$87.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.585	−0.052%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.580	−0.060%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTshort	+0.0100%	1h	66.600	−0.030%	$127K	$26K	50x
Variational Omni XAG	+0.0103%	4h	66.615	−0.007%	$5.6M	$10.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0105%	8h	66.635	+0.023%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.626	+0.010%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.608	−0.018%	$5.2M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.622	+0.003%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.620	0.000%	$115.5M	$153.4M	1000x	as long as short
Binance XAGUSDTlong	+0.0123%	4h	66.620	long leg	$191.9M	$724.1M	100x
edgeX XAGUSDC	+0.0134%	4h	66.629	+0.014%	$676K	$316K	30x	as long as short
Bitget XAGUSDT	+0.0156%	4h	66.630	+0.015%	$24.5M	$48.2M	100x	as long as short
BloFin XAG-USDT	+0.0157%	4h	66.610	−0.015%	$2.6M	$652K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.610	−0.015%	$1.9M	$851K	20x	as long as short
Aftermath Perps XAGUSD	+0.0171%	1h	66.550	−0.105%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.634	+0.022%	$401K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.630	+0.015%	$28.0M	$66.8M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.640	+0.030%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0250%	1h	66.631	+0.017%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.597	−0.034%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.564	−0.085%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.625	+0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0501%	1h	66.620	0.000%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.594	−0.039%	$764K	$588K	25x	as long as short