Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0110%/8h= −12.0% APRpaid last 24h −0.051%

Price spread now: KuCoin against Deribit−0.046%53s7-day average −0.049% · 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—prices read too far apart to compare

costs, in and out, $10k−$310.314% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.110%−$11 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now −0.046%, 7d avg −0.049%

Together, before fees−0.142%−$14 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.049%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 53 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	65.310	0.0210	pay 0.0026% / 1h	32m 27s	$65K	$391K	20x
Short	KuCoin XAGUSDTM	65.280	0.0100	get 0.0050% / 4h	32m 27s	$25.3M	$4.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.046%Rate

Funding earned: −$23.01
Price spread: −0.046% → −0.049%: $0.35
Slippage, 4 orders: −$12.44
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$54.1
Costs to cover: 0.314%
Break-even: never at this rate

Slippage from Deribit: live order book, 6 min ago; KuCoin: live order book, 6 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, 6 min ago	0.76 bp	10.3 bp −$10	11.4 bp −$114	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	0.77 bp	8.5 bp −$8	14.8 bp −$148	doesn't fit	doesn't fit

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	−0.0056%	1h	65.295	−0.023%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0037%	1h	65.190	−0.184%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.242	−0.104%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.310	0.000%	$27.8M	$39.4M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.320	+0.015%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.370	+0.092%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.320	+0.015%	$1.5M	$281K	100x	as long as short
Variational Omni XAG	0.0000%	4h	65.332	+0.034%	$5.5M	$9.1M	—	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.268	−0.064%	$118K	—	250x	as long as short
Aster XAGUSDT	+0.0024%	4h	65.300	−0.015%	$2.7M	$928K	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SILVER_USDT	+0.0026%	4h	65.300	−0.015%	$119.3M	$157.4M	1000x	as long as short
Binance XAGUSDT	+0.0026%	4h	65.305	−0.008%	$191.6M	$753.6M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.307	−0.004%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.251	−0.091%	$5.0M	$11.6M	10x	as long as short
edgeX XAGUSDC	+0.0032%	4h	65.342	+0.049%	$665K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.669%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.320	+0.015%	$140.7M	$178.3M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	+0.031%	$786K	$2.9M	40x	as long as short
Aevo XAG-PERP	+0.0040%	1h	65.316	+0.009%	$47K	—	10x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.300	−0.015%	$157K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.721	+0.629%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.264	−0.070%	$169.6M	$81.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.276	−0.052%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.267	−0.066%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.291	−0.029%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.316	+0.009%	$56K	$31K	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.299	−0.017%	$518K	$31.7M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.300	−0.015%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.253	−0.087%	$464K	$611K	10x	as long as short
KuCoin XAGUSDTMshort	+0.0100%	4h	65.280	−0.046%	$25.3M	$4.7M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	65.310	0.000%	$112K	$19K	50x	as long as short
BloFin XAG-USDT	+0.0107%	4h	65.350	+0.061%	$2.7M	$574K	100x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.325	+0.023%	$1.2M	$4.8M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	65.372	+0.095%	$384K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0152%	4h	65.310	0.000%	$23.3M	$44.7M	100x	as long as short
Nado XAG-PERP	+0.0159%	1h	65.275	−0.053%	$1.2M	$4.7M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.313	+0.005%	$5.3M	$11.1M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0166%	8h	65.310	0.000%	$28.2M	$69.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0183%	1h	65.299	−0.017%	$79K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0184%	1h	65.313	+0.005%	$20K	$17K	10x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0210%	1h	65.310	long leg	$65K	$391K	20x
Bullet SILVER-USD	+0.0220%	1h	65.314	+0.006%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.335	+0.038%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.292	−0.027%	$1.0M	$868K	25x	as long as short