Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0169%/8h= +18.5% APRpaid last 24h +0.045%

Price spread now: Deribit against Binance−0.009%7-day average −0.010% · 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−$24as in the Price arb table

costs, in and out, $10k−$250.246% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.102%+$10 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.009%, 7d avg −0.010%

Together, before fees+0.088%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.010%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	65.326	0.0041	pay 0.0020% / 4h	50m 23s	$191.6M	$761.4M	100x
Short	Deribit SILVER_USDC-PERPETUAL	65.320	0.0209	get 0.0026% / 1h	50m 23s	$65K	$387K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.009%Rate

Funding earned: $35.4
Price spread: −0.009% → −0.010%: $0.13
Slippage, 4 orders: −$7.58
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $10.95
Costs to cover: 0.246%
Break-even: 4.8 days

Slippage from Binance: live order book, 8 min ago; Deribit: live order book, 53 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, 8 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	8.1 bp −$815	19.9 bp −$9,936
Sell Deribit live order book, 53 min ago	0.76 bp	4.3 bp −$4	6.4 bp −$64	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	−0.0059%	1h	65.200	−0.192%	$5.6M	$9.6M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.287	−0.059%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.330	+0.007%	$27.7M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.320	−0.009%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.360	+0.053%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.360	+0.053%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.261	−0.098%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0016%	4h	65.312	−0.020%	$5.5M	$9.1M	—	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	65.287	−0.059%	$35K	$21K	20x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.340	+0.022%	$141.2M	$176.8M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster XAGUSDT	+0.0030%	4h	65.314	−0.017%	$2.7M	$952K	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.353	+0.041%	$4.6M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.267	−0.089%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.645%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0040%	4h	65.310	−0.024%	$117.4M	$156.1M	1000x	as long as short
StandX XAG-USD	+0.0040%	1h	65.310	−0.024%	$786K	$2.9M	40x	as long as short
Binance XAGUSDTlong	+0.0041%	4h	65.326	long leg	$191.6M	$761.4M	100x
QFEX SILVER-USD	+0.0044%	1h	65.310	−0.024%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.734	+0.625%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.288	−0.058%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.281	−0.068%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.294	−0.049%	$29K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0056%	1h	65.307	−0.029%	$47K	—	10x	as long as short
Phoenix SILVER	+0.0061%	1h	65.287	−0.059%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0065%	4h	65.334	+0.013%	$665K	$313K	30x	as long as short
tradeXYZ xyz:SILVER	+0.0076%	1h	65.283	−0.065%	$169.9M	$81.3M	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.290	−0.055%	$477K	$31.8M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.360	+0.053%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.266	−0.091%	$468K	$621K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.270	−0.085%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.280	−0.070%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.322	−0.006%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0144%	4h	65.409	+0.128%	$384K	$1.6M	25x	as long as short
Lighter XAG	+0.0160%	1h	65.347	+0.032%	$5.3M	$11.1M	25x	as long as short
Nado XAG-PERP	+0.0164%	1h	65.272	−0.082%	$1.2M	$4.8M	10x	as long as short
Bitget XAGUSDT	+0.0166%	4h	65.340	+0.022%	$23.7M	$45.5M	100x	as long as short
BloFin XAG-USDT	+0.0166%	4h	65.330	+0.007%	$2.7M	$582K	100x	as long as short
Hibachi XAG/USDT-P	+0.0168%	1h	65.287	−0.059%	$20K	$17K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0177%	8h	65.330	+0.007%	$28.1M	$70.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0209%	1h	65.303	−0.035%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0209%	1h	65.320	−0.009%	$65K	$387K	20x
Bullet SILVER-USD	+0.0225%	1h	65.326	+0.001%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.325	−0.001%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.294	−0.048%	$1.0M	$872K	25x	as long as short