Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h −0.025%

Price spread now: Binance against Coinbase International−0.020%7-day average +0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

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

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.194%−$19 on $10k

Price spread, last 2 days (all we have)+0.103%+$10 · spread now −0.020%, 7d avg +0.013%

Together, before fees−0.090%−$9 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Binance is 0.034% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.013%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SILVER-PERP-INTX	66.520	0.0184	pay 0.0023% / 1h	40m 04s	$1.9M	$967K	20x
Short	Binance XAGUSDT	66.506	0.0149	get 0.0075% / 4h	2h 40m	$193.0M	$707.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now −0.020%Rate

Funding earned: −$7.31
Price spread: −0.020% → +0.013%: −$3.39
Slippage, 4 orders: −$7.52
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$38.21
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 4 min ago; Binance: live order book, 4 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 Coinbase International live order book, 4 min ago	3.01 bp	8.0 bp −$8	8.5 bp −$85	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.75 bp	5.8 bp −$6	7.0 bp −$70	9.9 bp −$990	25.1 bp −$12.5K

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
Hotstuff SILVER-PERP	−0.0008%	1h	66.483	−0.056%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.423	−0.146%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.500	−0.030%	$154.5M	$161.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.530	+0.015%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.540	+0.030%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.530	+0.015%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.449	−0.107%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.487	−0.050%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.447	−0.110%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.180%	$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	66.480	−0.060%	$800K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.952	+0.649%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	−0.161%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.489	−0.047%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.438	−0.123%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.440	−0.120%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.530	+0.015%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.473	−0.071%	$574K	$23.1M	8.1x	as long as short
Bybit XAGUSDT	+0.0069%	4h	66.520	0.000%	$26.4M	$35.9M	150x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.538	+0.028%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0096%	1h	66.471	−0.074%	$166.0M	$79.5M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.489	−0.047%	$473K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.470	−0.075%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.490	−0.045%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.075%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0115%	4h	66.511	−0.014%	$2.8M	$971K	100x	as long as short
Paradex XAG-USD-PERP	+0.0122%	8h	66.519	−0.001%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	−0.023%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0136%	1h	66.511	−0.013%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0148%	4h	66.510	−0.015%	$108.2M	$156.6M	1000x	as long as short
Binance XAGUSDTshort	+0.0149%	4h	66.506	−0.020%	$193.0M	$707.7M	100x
edgeX XAGUSDC	+0.0153%	4h	66.569	+0.073%	$676K	$313K	30x	as long as short
Lighter XAG	+0.0160%	1h	66.506	−0.021%	$5.4M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0184%	1h	66.520	long leg	$1.9M	$967K	20x
OKX XAG-USDT-SWAP	+0.0197%	8h	66.510	−0.015%	$28.1M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.494	−0.039%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0222%	4h	66.510	−0.015%	$24.4M	$45.8M	100x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.465	−0.083%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0238%	4h	66.591	+0.106%	$395K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.447	−0.110%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0281%	1h	66.528	+0.012%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.515	−0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.490	−0.045%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.484	−0.054%	$767K	$488K	25x	as long as short