Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.009%

Price spread now: Coinbase International against Bitget−0.030%47s7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as 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−$270.269% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 3 days (all we have)+0.166%+$17 · spread now −0.030%, 7d avg −0.030%

Together, before fees+0.297%+$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.131%, so the current rate has only just turned against you. 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	Bitget XAGUSDT	66.060	0.0290	pay 0.0145% / 4h	3h 32m	$23.1M	$51.2M	100x
Short	Coinbase International SILVER-PERP-INTX	66.040	0.0168	get 0.0021% / 1h	32m 23s	$1.9M	$1.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$25.62
Price spread: −0.030% → −0.030%: $0.02
Slippage, 4 orders: −$4.88
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$52.48
Costs to cover: 0.269%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Coinbase International: live order book, 2 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 Bitget live order book, 2 min ago	0.76 bp	7.1 bp −$7	8.6 bp −$86	18.5 bp −$1,850	46.2 bp −$23.1K
Sell Coinbase International live order book, 2 min ago	0.76 bp	7.2 bp −$7	9.0 bp −$90	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	65.984	−0.116%	$15K	$997	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.060	0.000%	$132.8M	$192.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.050	−0.015%	$2K	$3.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.060	0.000%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.090	+0.045%	$1.5M	$259K	100x	as long as short
Ondo Perps XAG-USD.P	+0.0003%	1h	65.940	−0.182%	$6.2M	$9.0M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.983	−0.117%	$119K	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.019	−0.062%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.046	−0.022%	$4.6M	$9.6M	25x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.515%	$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	65.980	−0.121%	$698K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.490	+0.651%	—	—	25x	as long as short
Kalshi KXSILVERPERP	+0.0047%	24h	66.014	−0.070%	$687K	$21.6M	8.1x	as long as short
Phoenix SILVER	+0.0048%	1h	65.979	−0.123%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.022	−0.058%	$3.9M	$740K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.970	−0.136%	$4K	$5K	20x	as long as short
QFEX SILVER-USD	+0.0053%	1h	66.060	0.000%	$144K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0075%	1h	66.016	−0.067%	$161.6M	$95.8M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.011	−0.074%	$472K	$671K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.020	−0.061%	$24.1M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.990	−0.106%	$112K	$88K	50x	as long as short
Aster XAGUSDT	+0.0109%	4h	66.040	−0.030%	$2.8M	$1.2M	100x	as long as short
Paradex XAG-USD-PERP	+0.0112%	8h	66.052	−0.012%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.046	−0.021%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0144%	4h	66.066	+0.009%	$5.5M	$12.6M	—	as long as short
MEXC SILVER_USDT	+0.0156%	4h	66.060	0.000%	$119.2M	$190.1M	1000x	as long as short
Binance XAGUSDT	+0.0157%	4h	66.060	0.000%	$190.6M	$791.7M	100x	as long as short
Extended XAG-USD	+0.0160%	1h	65.987	−0.110%	$5.2M	$15.2M	10x	as long as short
BloFin XAG-USDT	+0.0161%	4h	66.070	+0.015%	$2.6M	$1.4M	100x	as long as short
RISEx XAG/USDC	+0.0162%	1h	66.056	−0.006%	$1.4M	$4.3M	20x	as long as short
edgeX XAGUSDC	+0.0163%	4h	66.065	+0.008%	$669K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0168%	1h	66.040	−0.030%	$1.9M	$1.2M	20x
Lighter XAG	+0.0192%	1h	66.050	−0.015%	$5.4M	$10.9M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0193%	8h	66.050	−0.015%	$27.5M	$68.1M	50x	as long as short
Aftermath Perps XAGUSD	+0.0196%	1h	66.016	−0.066%	$79K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0251%	1h	66.065	+0.008%	$44K	$76K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	65.998	−0.094%	$1.3M	$6.5M	10x	as long as short
Bybit XAGUSDT	+0.0278%	4h	66.070	+0.015%	$25.1M	$37.8M	150x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.011	−0.075%	$20K	$22K	10x	as long as short
Bitget XAGUSDTlong	+0.0290%	4h	66.060	long leg	$23.1M	$51.2M	100x
GMX SILVER/USD [ETH-USDC]	L +0.0309% / S −0.0312%	1h	66.065	+0.008%	$103K	—	111x	as long as short
GRVT XAG_USDT_Perp	+0.0342%	4h	66.060	0.000%	$400K	$1.8M	25x	as long as short
Kraken Futures PF_XAGUSD	+0.0402%	1h	66.014	−0.069%	$776K	$650K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0508%	1h	66.030	−0.045%	$88K	$501K	20x	as long as short