Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0122%/8h= −13.4% APRpaid last 24h −0.051%

Price spread now: QFEX against Bitget+0.015%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$280.275% of the position

Long on Bitget Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.070%−$7 on $10k

Price spread, last 7 days−0.060%−$6 · spread now +0.015%, 7d avg −0.051%

Together, before fees−0.130%−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.066% dearer against Bitget than usual: you sell high and buy low (spread +0.015% now, against its 7-day average of −0.051%): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 43 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget XAGUSDT	65.400	0.0172	pay 0.0086% / 4h	1h 14m	$23.7M	$46.4M	100x
Short	QFEX SILVER-USD	65.410	0.0050	get 0.0006% / 1h	14m 28s	$152K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$25.64
Price spread: +0.015% → −0.051%: $6.59
Slippage, 4 orders: −$5.5
Fee Bitget: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$46.55
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; QFEX: live order book, 3 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, 5 min ago	0.76 bp	6.8 bp −$7	8.4 bp −$84	16.5 bp −$1,651	45.2 bp −$22.6K
Sell QFEX live order book, 3 min ago	1.53 bp	6.5 bp −$7	6.5 bp −$65	8.7 bp −$868	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	−0.0078%	1h	65.300	−0.153%	$5.6M	$9.7M	25x	as long as short
Hibachi XAG/USDT-P	−0.0048%	1h	65.320	−0.122%	$20K	$19K	10x	as long as short
dYdX XAG-USD	0.0000%	1h	65.367	−0.050%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.410	+0.015%	$27.8M	$39.9M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	−0.015%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.400	0.000%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.410	+0.015%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.318	−0.125%	$118K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	65.389	−0.017%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0026%	4h	65.374	−0.040%	$5.5M	$9.4M	—	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate XAG_USDT	+0.0026%	4h	65.440	+0.061%	$141.2M	$183.8M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.411	+0.017%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.359	−0.063%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.529%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0036%	4h	65.409	+0.013%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.380	−0.031%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.810	+0.627%	—	—	25x	as long as short
QFEX SILVER-USDshort	+0.0050%	1h	65.410	+0.015%	$152K	$2.8M	20x
Polymarket Perps SILVER-USD	+0.0050%	1h	65.367	−0.050%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.330	−0.107%	$3K	$6K	20x	as long as short
MEXC SILVER_USDT	+0.0052%	4h	65.420	+0.031%	$116.7M	$157.6M	1000x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	65.360	−0.061%	$170.4M	$83.7M	25x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.400	0.000%	$29K	$1K	5x	as long as short
Binance XAGUSDT	+0.0054%	4h	65.410	+0.015%	$191.5M	$764.4M	100x	as long as short
edgeX XAGUSDC	+0.0056%	4h	65.371	−0.044%	$665K	$314K	30x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.426	+0.040%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.319	−0.124%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0064%	1h	65.379	−0.032%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0078%	24h	65.350	−0.076%	$493K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.354	−0.071%	$469K	$628K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.380	−0.031%	$25.4M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.320	−0.122%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0118%	4h	65.365	−0.053%	$391K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.290	−0.168%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0137%	1h	65.379	−0.032%	$1.2M	$5.1M	10x	as long as short
Lighter XAG	+0.0152%	1h	65.414	+0.022%	$5.3M	$11.6M	25x	as long as short
Bitget XAGUSDTlong	+0.0172%	4h	65.400	long leg	$23.7M	$46.4M	100x
OKX XAG-USDT-SWAP	+0.0183%	8h	65.410	+0.015%	$28.0M	$71.1M	50x	as long as short
Bullet SILVER-USD	+0.0190%	1h	65.406	+0.008%	$44K	$76K	10x	as long as short
Aftermath Perps XAGUSD	+0.0211%	1h	65.340	−0.092%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0216%	4h	65.400	0.000%	$2.6M	$601K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.385	−0.023%	$93K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0362%	1h	65.390	−0.015%	$65K	$381K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.356	−0.067%	$916K	$746K	25x	as long as short