Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0142%/8h= −15.6% APRpaid last 24h −0.020%

Price spread now: dYdX against Bybit−0.109%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and dYdX is 0.109% cheaper against Bybit than usual: you would sell low and buy high (−$11 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.250	0.0142	pay 0.0071% / 4h	1h 48m	$26.7M	$36.1M	150x
Short	dYdX XAG-USD	66.178	0	get 0.0000% / 1h	48m 44s	$15K	—	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$29.88
Price spread: −0.109% → 0.000%: −$10.85
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$61.74
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 min ago; dYdX: no order-book sample. Net counts fees only.

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 Bybit live order book, 5 min ago	0.75 bp	6.3 bp −$6	8.9 bp −$89	15.4 bp −$1,541	55.7 bp −$27.9K
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XAG on 43 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-USDshort	0.0000%	1h	66.178	−0.109%	$15K	—	5x
Gate XAG_USDT	0.0000%	4h	66.220	−0.045%	$151.3M	$161.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	−0.045%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.045%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.230	−0.030%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.144	−0.160%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.194	−0.085%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0030%	1h	66.120	−0.196%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.211	−0.059%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.160	−0.135%	$5.3M	$12.1M	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.226%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	0.000%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.661	+0.620%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.185	−0.098%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.141	−0.165%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.220	−0.045%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.189	−0.092%	$546K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.206	−0.066%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0090%	1h	66.179	−0.107%	$165.7M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.180	−0.106%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.121%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.121%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.211	−0.059%	$2.7M	$915K	100x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.227	−0.035%	$30K	$1K	5x	as long as short
Bybit XAGUSDTlong	+0.0142%	4h	66.250	long leg	$26.7M	$36.1M	150x
Lighter XAG	+0.0168%	1h	66.212	−0.057%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.210	−0.061%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	−0.012%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.231	−0.029%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.230	−0.030%	$110.5M	$151.9M	1000x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.230	−0.030%	$191.8M	$706.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.151%	$1.9M	$972K	20x	as long as short
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.175%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.230	−0.030%	$27.8M	$65.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.247	−0.004%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0238%	1h	66.171	−0.119%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.210	−0.060%	$23.8M	$46.1M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	66.199	−0.077%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0263%	1h	66.226	−0.036%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0278%	4h	66.277	+0.041%	$400K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0331% / S −0.0342%	1h	66.215	−0.053%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.190	−0.091%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.171	−0.119%	$763K	$475K	25x	as long as short