Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h +0.021%

Price spread now: Coinbase International against Binance−0.106%7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.106%, 7d avg −0.032%

Together, before fees+0.282%+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.074% cheaper against Binance than usual: you would sell low and buy high (spread −0.106% now, against its 7-day average of −0.032%). If the spread goes back, that is −$7 on $10k: about 7.6 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.191% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	66.050	0.0175	pay 0.0088% / 4h	3h 07m	$190.9M	$702.7M	100x
Short	Coinbase International SILVER-PERP-INTX	65.980	0.0208	get 0.0026% / 1h	7m 18s	$1.8M	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.106%Rate

Funding earned: $6.87
Price spread: −0.106% → −0.032%: −$7.45
Slippage, 4 orders: −$3.65
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$24.23
Costs to cover: 0.236%
Break-even: 31.7 days

Slippage from Binance: live order book, 7 min ago; Coinbase International: 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 Binance live order book, 7 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	8.1 bp −$806	19.4 bp −$9,725
Sell Coinbase International live order book, 1 min ago	0.76 bp	6.0 bp −$6	8.8 bp −$88	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
Ondo Perps XAG-USD.P	−0.0054%	1h	65.940	−0.167%	$5.7M	$9.2M	25x	as long as short
Hotstuff SILVER-PERP	−0.0016%	1h	66.012	−0.058%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.093%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.070	+0.030%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.080	+0.045%	$1.0M	$949K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.050	0.000%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.982	−0.102%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.035	−0.023%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.985	−0.099%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.530%	$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	66.020	−0.045%	$794K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0042%	4h	66.060	+0.015%	$149.8M	$164.4M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.463	+0.625%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.014	−0.055%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.984	−0.100%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	66.030	−0.030%	$30K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	66.015	−0.053%	$166.3M	$73.8M	25x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.030	−0.030%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	65.977	−0.111%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	66.003	−0.071%	$537K	$26.5M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.051	+0.001%	$1.3M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0096%	4h	66.070	+0.030%	$27.8M	$36.5M	150x	as long as short
Pacifica XAG	+0.0100%	1h	65.984	−0.099%	$469K	$604K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.010	−0.061%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.960	−0.136%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0120%	1h	66.042	−0.012%	$5.2M	$10.9M	25x	as long as short
Aster XAGUSDT	+0.0120%	4h	66.050	0.000%	$2.7M	$866K	100x	as long as short
Variational Omni XAG	+0.0163%	4h	66.003	−0.071%	$5.6M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.036	−0.021%	$47K	—	10x	as long as short
Binance XAGUSDTlong	+0.0175%	4h	66.050	long leg	$190.9M	$702.7M	100x
MEXC SILVER_USDT	+0.0176%	4h	66.050	0.000%	$114.5M	$152.8M	1000x	as long as short
edgeX XAGUSDC	+0.0182%	4h	66.013	−0.056%	$670K	$311K	30x	as long as short
Nado XAG-PERP	+0.0185%	1h	66.003	−0.072%	$1.4M	$5.8M	10x	as long as short
Aftermath Perps XAGUSD	+0.0197%	1h	66.013	−0.056%	$79K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	66.030	−0.030%	$75K	$363K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0206%	4h	66.028	−0.034%	$394K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0208%	1h	65.980	−0.106%	$1.8M	$1.0M	20x
BloFin XAG-USDT	+0.0224%	4h	66.030	−0.030%	$2.6M	$569K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0224%	8h	66.050	0.000%	$27.7M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0228%	4h	66.060	+0.015%	$23.9M	$44.9M	100x	as long as short
Bullet SILVER-USD	+0.0235%	1h	66.052	+0.002%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	65.980	−0.106%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0440%	1h	66.055	+0.008%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	66.023	−0.041%	$911K	$685K	25x	as long as short