Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0036%/8h= −4.0% APRpaid last 24h −0.018%

Price spread now: gTrade (Gains Network) against Bybit−0.100%7-day average −0.124% · 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−$281as in the Price arb table

costs, in and out, $10k−$2842.839% of the position

Long on Bybit Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.027%−$3 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now −0.100%, 7d avg −0.124%

Together, before fees+0.068%+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.024% dearer against Bybit than usual: you sell high and buy low (spread −0.100% now, against its 7-day average of −0.124%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	65.620	0.0042	pay 0.0021% / 4h	53m 39s	$30.5M	$47.8M	150x
Short	gTrade (Gains Network) XAG/USD	65.554	L +0.0004% / S −0.0006%	get 0.0001% / 1h	53m 39s	$119K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.100%Rate

Funding earned: −$7.59
Price spread: −0.100% → −0.124%: $2.43
Slippage, 4 orders: −$262.85
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$289.01
Costs to cover: 2.839%
Break-even: never at this rate

Slippage from Bybit: live order book, 3 min ago; gTrade (Gains Network): virtual book (oracle exchange), 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 Bybit live order book, 3 min ago	0.76 bp	6.3 bp −$6	7.4 bp −$74	12.7 bp −$1,267	56.0 bp −$28.0K
Sell gTrade (Gains Network) virtual book (oracle exchange), 53 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2012.7 bp −$1.01M

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−0.0088%	1h	65.565	−0.084%	$39K	$26K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.521	−0.150%	$13K	$8K	5x	as long as short
RISEx XAG/USDC	0.0000%	1h	65.619	−0.001%	$1.3M	$5.5M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	65.620	0.000%	$136.6M	$198.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.620	0.000%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.640	+0.030%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.640	+0.030%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USDshort	L +0.0004% / S −0.0006%	1h	65.554	−0.100%	$119K	—	250x
Ondo Perps XAG-USD.P	+0.0025%	1h	65.520	−0.152%	$5.7M	$11.1M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.597	−0.036%	$4.6M	$9.5M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.547	−0.111%	$5.1M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.551%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.590	−0.046%	$789K	$3.0M	40x	as long as short
Bybit XAGUSDTlong	+0.0042%	4h	65.620	long leg	$30.5M	$47.8M	150x
QFEX SILVER-USD	+0.0042%	1h	65.610	−0.015%	$447K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	66.037	+0.635%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.576	−0.067%	$3.8M	$905K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.561	−0.090%	$3K	$6K	20x	as long as short
Variational Omni XAG	+0.0052%	4h	65.578	−0.065%	$5.6M	$9.0M	—	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.586	−0.052%	$29K	—	5x	as long as short
Aster XAGUSDT	+0.0074%	4h	65.590	−0.046%	$2.7M	$1.2M	100x	as long as short
MEXC SILVER_USDT	+0.0074%	4h	65.600	−0.030%	$114.9M	$162.8M	1000x	as long as short
Binance XAGUSDT	+0.0076%	4h	65.620	0.000%	$190.4M	$862.5M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.608	−0.019%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0090%	4h	65.579	−0.063%	$669K	$314K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0096%	4h	65.674	+0.082%	$389K	$1.6M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.537	−0.126%	$462K	$520K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.560	−0.091%	$25.3M	$4.3M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.610	−0.015%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.710	+0.137%	$1.6M	$1.9M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0105%	1h	65.569	−0.078%	$175.6M	$86.7M	25x	as long as short
Kalshi KXSILVERPERP	+0.0107%	24h	65.620	0.000%	$792K	$38.8M	8.1x	as long as short
Phoenix SILVER	+0.0122%	1h	65.584	−0.055%	$55K	$15K	25x	as long as short
Lighter XAG	+0.0136%	1h	65.590	−0.046%	$5.3M	$11.8M	25x	as long as short
Nado XAG-PERP	+0.0139%	1h	65.564	−0.085%	$1.2M	$3.4M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0178%	8h	65.610	−0.015%	$27.9M	$85.7M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.600	−0.030%	$77K	$409K	20x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.610	−0.015%	$23.1M	$52.8M	100x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	65.538	−0.125%	$21K	$12K	10x	as long as short
Aftermath Perps XAGUSD	+0.0226%	1h	65.609	−0.017%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0227%	1h	65.625	+0.008%	$45K	$73K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0282% / S −0.0253%	1h	65.625	+0.008%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0309%	4h	65.610	−0.015%	$2.7M	$784K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0540%	1h	65.594	−0.040%	$1.0M	$943K	25x	as long as short