Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.024%

Price spread now: Bybit against gTrade (Gains Network)+0.017%52s7-day average +0.112% · 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−$2832.831% of the position

Long on gTrade (Gains Network)Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.012%−$1 · spread now +0.017%, 7d avg +0.112%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.095% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread +0.017% now, against its 7-day average of +0.112%). If the spread goes back, that is −$9 on $10k: about 29 days of funding at the current rate ($0 a day). At the pace of the last 3 days (+0.028% in total) that is about 12 days. The two prices were read 52 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	gTrade (Gains Network) XAG/USD	65.349	L +0.0004% / S −0.0006%	pay 0.0000% / 1h	39m 28s	$118K	—	250x
Short	Bybit XAGUSDT	65.360	0.0015	get 0.0007% / 4h	1h 39m	$28.4M	$39.6M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now +0.017%Rate

Funding earned: $2.29
Price spread: +0.017% → +0.112%: −$9.46
Slippage, 4 orders: −$262.08
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$290.25
Costs to cover: 2.831%
Break-even: 894.0 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 35 min ago; Bybit: 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 gTrade (Gains Network) virtual book (oracle venue), 35 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	579.9 bp −$58.0K	2587.5 bp −$1.29M
Sell Bybit live order book, 4 min ago	0.76 bp	6.7 bp −$7	9.5 bp −$95	18.0 bp −$1,805	54.2 bp −$27.1K

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	−0.0128%	1h	65.358	+0.015%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0080%	1h	65.250	−0.151%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.350	+0.002%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.430	+0.124%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.450	+0.155%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.440	+0.140%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USDlong	L +0.0004% / S −0.0006%	1h	65.349	long leg	$118K	—	250x
Bybit XAGUSDTshort	+0.0015%	4h	65.360	+0.017%	$28.4M	$39.6M	150x
Gate XAG_USDT	+0.0026%	4h	65.370	+0.032%	$141.2M	$181.3M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.353	+0.006%	$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	65.304	−0.069%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.609%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	+0.094%	$787K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0045%	4h	65.361	+0.018%	$2.7M	$973K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.783	+0.664%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.350	+0.002%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.326	−0.035%	$170.2M	$83.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.320	−0.044%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.346	−0.004%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.345	−0.006%	$29K	$1K	5x	as long as short
Variational Omni XAG	+0.0060%	4h	65.414	+0.099%	$5.5M	$9.4M	—	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.363	+0.022%	$1.3M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.377	+0.043%	$56K	$31K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	65.375	+0.040%	$35K	$21K	20x	as long as short
MEXC SILVER_USDT	+0.0074%	4h	65.350	+0.002%	$115.4M	$157.1M	1000x	as long as short
Binance XAGUSDT	+0.0075%	4h	65.357	+0.012%	$189.6M	$763.2M	100x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.386	+0.057%	$509K	$30.5M	8.1x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.401	+0.080%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0095%	4h	65.402	+0.081%	$666K	$312K	30x	as long as short
Pacifica XAG	+0.0100%	1h	65.305	−0.067%	$466K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.350	+0.002%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.370	+0.032%	$112K	$19K	50x	as long as short
Lighter XAG	+0.0104%	1h	65.359	+0.015%	$5.4M	$11.3M	25x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.409	+0.092%	$397K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0117%	1h	65.315	−0.052%	$1.2M	$5.5M	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	+0.048%	$1.6M	$1.4M	20x	as long as short
Bullet SILVER-USD	+0.0156%	1h	65.416	+0.103%	$43K	$77K	10x	as long as short
Bitget XAGUSDT	+0.0184%	4h	65.360	+0.017%	$23.8M	$46.6M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	65.370	+0.032%	$27.9M	$71.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.390	+0.063%	$65K	$374K	20x	as long as short
Aftermath Perps XAGUSD	+0.0212%	1h	65.408	+0.090%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0306%	4h	65.440	+0.140%	$2.6M	$610K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0318% / S −0.0301%	1h	65.415	+0.101%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.380	+0.048%	$916K	$746K	25x	as long as short