Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0164%/8h= −18.0% APRpaid last 24h −0.050%

Price spread now: MEXC against Deribit−0.030%7-day average −0.016% · 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−$14as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Deribit Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.097%−$10 on $10k

Price spread, last 3 days (all we have)−0.012%−$1 · spread now −0.030%, 7d avg −0.016%

Together, before fees−0.109%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SILVER_USDC-PERPETUAL	66.230	0.0354	pay 0.0044% / 1h	47m 41s	$50K	$326K	20x
Short	MEXC SILVER_USDT	66.210	0.0190	get 0.0095% / 4h	1h 47m	$110.5M	$151.9M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.030%Rate

Funding earned: −$34.51
Price spread: −0.030% → −0.016%: −$1.41
Slippage, 4 orders: −$6
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee MEXC: 0 bp × 2 orders: $0
Net: −$48.92
Costs to cover: 0.130%
Break-even: never at this rate

Slippage from Deribit: live order book, 16 min ago; MEXC: live order book, 1 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, 16 min ago	0.75 bp	7.2 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$75	2.9 bp −$1,452

XAG on 43 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	66.176	−0.082%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.178	−0.078%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.230	0.000%	$151.1M	$161.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.030%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.270	+0.060%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.270	+0.060%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.184	−0.070%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.196	−0.051%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.154	−0.115%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.257%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0036%	1h	66.110	−0.181%	$5.7M	$9.7M	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	+0.030%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.668	+0.661%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.200	−0.045%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.179	−0.077%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.220	−0.015%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.201	−0.044%	$546K	$24.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0084%	1h	66.181	−0.074%	$165.7M	$74.7M	25x	as long as short
Phoenix SILVER	+0.0084%	1h	66.206	−0.036%	$56K	$26K	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.175	−0.083%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.180	−0.075%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.151%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.210	−0.030%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0137%	4h	66.233	+0.004%	$2.7M	$916K	100x	as long as short
Bybit XAGUSDT	+0.0142%	4h	66.240	+0.015%	$26.7M	$36.1M	150x	as long as short
Lighter XAG	+0.0168%	1h	66.211	−0.029%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.240	+0.015%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	+0.018%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.220	−0.015%	$1.2M	$4.4M	20x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.220	−0.015%	$191.7M	$706.3M	100x	as long as short
MEXC SILVER_USDTshort	+0.0190%	4h	66.210	−0.030%	$110.5M	$151.9M	1000x
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.181%	$1.9M	$972K	20x	as long as short
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.206%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.210	−0.030%	$27.8M	$65.5M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.229	−0.001%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0239%	1h	66.188	−0.064%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0250%	4h	66.220	−0.015%	$23.9M	$46.1M	100x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	66.160	−0.106%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0264%	1h	66.246	+0.024%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0278%	4h	66.277	+0.071%	$400K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0332% / S −0.0343%	1h	66.245	+0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0354%	1h	66.230	long leg	$50K	$326K	20x
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.196	−0.051%	$763K	$475K	25x	as long as short