Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC−0.0140%/8hnext payment −$0.17 per $10,000 · paid last 24h −0.039%

Price spread now: QFEX against Coinbase International+0.318%7-day average +0.014% · 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$0as in the Price arb table

costs, in and out, $10k−$300.300% of the position

Long on Coinbase International Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.097%−$10 on $10k

Price spread, last 3 days (all we have)−0.318%−$32 · spread now +0.318%, 7d avg +0.014%

Together, before fees−0.415%−$42 on $10k · with fees, hour by hour

The price spread pays, funding is against you. QFEX is 0.304% dearer against Coinbase International than usual: you sell high and buy low (spread +0.318% now, against its 7-day average of +0.014%): +$30 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 7.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International SILVER-PERP-INTX	66.040	0.0192	pay 0.0024% / 1h	22m 40s	$1.9M	$1.2M	20x
Short	QFEX SILVER-USD	66.250	0.0052	get 0.0007% / 1h	22m 40s	$134K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.318%Rate

Funding earned: −$29.32
Price spread: +0.318% → +0.014%: $30.43
Slippage, 4 orders: −$10.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$28.92
Costs to cover: 0.300%
Break-even: from the start

Slippage from Coinbase International: live order book, 5 min ago; QFEX: live order book, 9 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, 5 min ago	0.75 bp	8.5 bp −$8	9.4 bp −$94	doesn't fit	doesn't fit
Sell QFEX live order book, 9 min ago	1.51 bp	7.8 bp −$8	8.0 bp −$80	8.5 bp −$845	11.3 bp −$5,634

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	−0.0058%	1h	66.150	+0.167%	$6.2M	$8.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.222	+0.275%	$15K	$997	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.240	+0.303%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.260	+0.333%	$133.5M	$192.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.280	+0.363%	$2K	$3.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.363%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.250	+0.318%	$1.5M	$258K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.195	+0.235%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.260	+0.332%	$4.7M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.208	+0.255%	$5.4M	$14.8M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.545%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.228	+0.285%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0040%	24h	66.238	+0.300%	$691K	$21.6M	8.1x	as long as short
StandX XAG-USD	+0.0040%	1h	66.190	+0.227%	$700K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.715	+1.022%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.242	+0.306%	$161.9M	$94.9M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.232	+0.291%	$3.9M	$740K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.201	+0.244%	$4K	$5K	20x	as long as short
QFEX SILVER-USDshort	+0.0052%	1h	66.250	+0.318%	$134K	$2.8M	20x
BloFin XAG-USDT	+0.0063%	4h	66.230	+0.288%	$2.6M	$1.4M	100x	as long as short
Paradex XAG-USD-PERP	+0.0077%	8h	66.260	+0.333%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0096%	4h	66.260	+0.333%	$2.8M	$1.2M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.217	+0.268%	$474K	$701K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.220	+0.273%	$24.1M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.210	+0.257%	$113K	$88K	50x	as long as short
Lighter XAG	+0.0104%	1h	66.259	+0.332%	$5.5M	$10.7M	25x	as long as short
Variational Omni XAG	+0.0118%	4h	66.215	+0.264%	$5.6M	$12.6M	—	as long as short
MEXC SILVER_USDT	+0.0120%	4h	66.260	+0.333%	$123.9M	$188.0M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.258	+0.330%	$48K	—	10x	as long as short
Binance XAGUSDT	+0.0122%	4h	66.270	+0.348%	$191.9M	$787.6M	100x	as long as short
edgeX XAGUSDC	+0.0140%	4h	66.232	+0.291%	$670K	$313K	30x	as long as short
Bybit XAGUSDT	+0.0156%	4h	66.280	+0.363%	$25.2M	$37.7M	150x	as long as short
RISEx XAG/USDC	+0.0161%	1h	66.271	+0.349%	$1.4M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0166%	1h	66.219	+0.271%	$1.3M	$6.5M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0166%	8h	66.280	+0.363%	$27.4M	$67.9M	50x	as long as short
Bullet SILVER-USD	+0.0175%	1h	66.270	+0.348%	$45K	$77K	10x	as long as short
Aftermath Perps XAGUSD	+0.0181%	1h	66.181	+0.213%	$80K	$39K	10x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0192%	1h	66.040	long leg	$1.9M	$1.2M	20x
GRVT XAG_USDT_Perp	+0.0214%	4h	66.260	+0.333%	$398K	$1.7M	25x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	66.200	+0.242%	$20K	$21K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0277% / S −0.0261%	1h	66.255	+0.326%	$103K	—	111x	as long as short
Bitget XAGUSDT	+0.0284%	4h	66.270	+0.348%	$23.2M	$50.5M	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.240	+0.303%	$88K	$501K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0421%	1h	66.230	+0.288%	$779K	$644K	25x	as long as short