Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h −0.046%

Price spread now: BloFin against Deribit+0.076%57s7-day average +0.020% · 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—prices read too far apart to compare

costs, in and out, $10k−$270.266% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.213%−$21 on $10k

Price spread, last 4 days (all we have)−0.064%−$6 · spread now +0.076%, 7d avg +0.020%

Together, before fees−0.278%−$28 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and BloFin is 0.057% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.020%. Mind the row above: over the last 4 days funding on this pair cost −0.213%, so the current rate has only just turned in your favour. 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	Deribit SILVER_USDC-PERPETUAL	65.390	0.0209	pay 0.0026% / 1h	39m 50s	$65K	$374K	20x
Short	BloFin XAG-USDT	65.440	0.0306	get 0.0153% / 4h	1h 39m	$2.6M	$610K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now +0.076%Rate

Funding earned: $20.39
Price spread: +0.076% → +0.020%: $5.68
Slippage, 4 orders: −$7.58
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$0.51
Costs to cover: 0.266%
Break-even: 7.2 days

Slippage from Deribit: live order book, 4 min ago; BloFin: live order book, 3 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 Deribit live order book, 4 min ago	0.76 bp	8.8 bp −$9	9.2 bp −$92	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.76 bp	6.8 bp −$7	7.9 bp −$79	10.1 bp −$1,013	16.5 bp −$8,250

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
Hibachi XAG/USDT-P	−0.0120%	1h	65.360	−0.046%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0081%	1h	65.300	−0.138%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.350	−0.061%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.430	+0.061%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.450	+0.092%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.440	+0.076%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.349	−0.063%	$118K	—	250x	as long as short
Bybit XAGUSDT	+0.0018%	4h	65.380	−0.015%	$28.4M	$39.6M	150x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.400	+0.015%	$141.2M	$181.3M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.398	+0.013%	$4.6M	$9.8M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.331	−0.090%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.545%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	+0.031%	$787K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0045%	4h	65.384	−0.009%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.825	+0.665%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.390	0.000%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.364	−0.040%	$170.3M	$83.8M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.370	−0.031%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.346	−0.067%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.398	+0.012%	$29K	$1K	5x	as long as short
Variational Omni XAG	+0.0060%	4h	65.414	+0.036%	$5.5M	$9.4M	—	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.412	+0.034%	$1.3M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.384	−0.009%	$56K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	65.386	−0.006%	$35K	$21K	20x	as long as short
Binance XAGUSDT	+0.0076%	4h	65.380	−0.015%	$189.7M	$763.4M	100x	as long as short
MEXC SILVER_USDT	+0.0076%	4h	65.380	−0.015%	$115.4M	$157.1M	1000x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.386	−0.006%	$509K	$30.5M	8.1x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.401	+0.017%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0090%	4h	65.433	+0.066%	$666K	$314K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.363	−0.041%	$467K	$627K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.360	−0.046%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.410	+0.031%	$112K	$19K	50x	as long as short
Lighter XAG	+0.0104%	1h	65.400	+0.016%	$5.4M	$11.3M	25x	as long as short
Nado XAG-PERP	+0.0114%	1h	65.360	−0.045%	$1.2M	$5.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.427	+0.056%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	−0.015%	$1.6M	$1.4M	20x	as long as short
Bullet SILVER-USD	+0.0156%	1h	65.416	+0.040%	$43K	$77K	10x	as long as short
Bitget XAGUSDT	+0.0186%	4h	65.380	−0.015%	$23.8M	$46.6M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	65.380	−0.015%	$27.9M	$71.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0209%	1h	65.390	long leg	$65K	$374K	20x
Aftermath Perps XAGUSD	+0.0212%	1h	65.408	+0.027%	$79K	$37K	10x	as long as short
BloFin XAG-USDTshort	+0.0306%	4h	65.440	+0.076%	$2.6M	$610K	100x
GMX SILVER/USD [ETH-USDC]	L +0.0318% / S −0.0301%	1h	65.415	+0.038%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.380	−0.015%	$916K	$746K	25x	as long as short