Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h +0.040%

Price spread now: Deribit against BloFin−0.168%57s7-day average −0.020% · 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—prices read too far apart to compare

costs, in and out, $10k−$280.282% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.212%+$21 on $10k

Price spread, last 4 days (all we have)+0.108%+$11 · spread now −0.168%, 7d avg −0.020%

Together, before fees+0.319%+$32 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Deribit is 0.148% cheaper against BloFin than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.020%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.212%, so the current rate has only just turned against you. The two prices were read 57 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	BloFin XAG-USDT	65.560	0.0359	pay 0.0180% / 4h	2h 56m	$2.7M	$710K	100x
Short	Deribit SILVER_USDC-PERPETUAL	65.450	0.0056	get 0.0007% / 1h	56m 04s	$77K	$436K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now −0.168%Rate

Funding earned: −$63.78
Price spread: −0.168% → −0.020%: −$14.79
Slippage, 4 orders: −$9.24
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$106.81
Costs to cover: 0.282%
Break-even: never at this rate

Slippage from BloFin: live order book, 7 min ago; Deribit: live order book, 38 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 BloFin live order book, 7 min ago	0.76 bp	6.8 bp −$7	6.8 bp −$68	6.8 bp −$676	8.8 bp −$4,409
Sell Deribit live order book, 38 min ago	3.86 bp	7.4 bp −$7	7.4 bp −$74	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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.461%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0070%	1h	65.390	−0.259%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.477	−0.126%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.480	−0.122%	$136.9M	$192.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.470	−0.137%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.510	−0.076%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.490	−0.107%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.048%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.471	−0.135%	$4.5M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.425	−0.205%	$5.0M	$12.0M	10x	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	65.560	0.000%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.933	+0.569%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.511	−0.075%	$36K	$22K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.443	−0.178%	$174.0M	$92.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.458	−0.156%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.421	−0.212%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0056%	1h	65.450	−0.168%	$77K	$436K	20x
QFEX SILVER-USD	+0.0062%	1h	65.490	−0.107%	$435K	$1.5M	20x	as long as short
Variational Omni XAG	+0.0076%	4h	65.573	+0.020%	$5.4M	$9.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0076%	8h	65.477	−0.127%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.550	−0.015%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0090%	24h	65.598	+0.058%	$659K	$36.2M	8.1x	as long as short
Nado XAG-PERP	+0.0095%	1h	65.462	−0.149%	$1.2M	$4.1M	10x	as long as short
Pacifica XAG	+0.0100%	1h	65.444	−0.177%	$466K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.450	−0.168%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.570	+0.015%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.549	−0.017%	$56K	$12K	25x	as long as short
MEXC SILVER_USDT	+0.0118%	4h	65.480	−0.122%	$117.1M	$160.1M	1000x	as long as short
Binance XAGUSDT	+0.0118%	4h	65.463	−0.147%	$193.3M	$825.9M	100x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.497	−0.096%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0127%	4h	65.630	+0.107%	$669K	$313K	30x	as long as short
Aster XAGUSDT	+0.0132%	4h	65.480	−0.122%	$2.7M	$1.1M	100x	as long as short
Bullet SILVER-USD	+0.0167%	1h	65.492	−0.103%	$45K	$75K	10x	as long as short
Lighter XAG	+0.0176%	1h	65.482	−0.119%	$5.1M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0199%	1h	65.506	−0.083%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.511	−0.074%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	65.460	−0.153%	$28.2M	$81.2M	50x	as long as short
Bitget XAGUSDT	+0.0228%	4h	65.490	−0.107%	$23.0M	$49.5M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.495	−0.099%	$93K	—	111x	as long as short
Bybit XAGUSDT	+0.0242%	4h	65.470	−0.137%	$30.6M	$45.2M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0302%	4h	65.567	+0.010%	$384K	$1.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.503	−0.088%	$21K	$12K	10x	as long as short
BloFin XAG-USDTlong	+0.0359%	4h	65.560	long leg	$2.7M	$710K	100x
Kraken Futures PF_XAGUSD	+0.0774%	1h	65.455	−0.161%	$1.0M	$893K	25x	as long as short