Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0115%/8h= +12.6% APRpaid last 24h +0.010%

Price spread now: Bybit against Injective−0.377%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Bybit is 0.377% cheaper against Injective than usual: you would sell low and buy high (spread −0.377% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$38 on $10k: about 11 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.039% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAG/USDC PERP	66.400	0.0033	pay 0.0004% / 1h	38m 52s	$11K	$94K	52x
Short	Bybit XAGUSDT	66.150	0.0148	get 0.0074% / 4h	38m 52s	$27.0M	$36.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now −0.377%Rate

Funding earned: $24.13
Price spread: −0.377% → 0.000%: −$37.65
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.54
Costs to cover: 0.110%
Break-even: 14.1 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 5 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	0.75 bp	6.3 bp −$6	6.3 bp −$63	13.7 bp −$1,367	58.9 bp −$29.5K

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
dYdX XAG-USD	0.0000%	1h	66.085	−0.474%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.150	−0.377%	$150.2M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.140	−0.392%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.160	−0.361%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.150	−0.377%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.059	−0.513%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.109	−0.438%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.061	−0.511%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERPlong	+0.0033%	1h	66.400	long leg	$11K	$94K	52x
StandX XAG-USD	+0.0040%	1h	66.140	−0.392%	$796K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.560	+0.241%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.105	−0.444%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.053	−0.523%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.030	−0.557%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.130	−0.407%	$115K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.088	−0.470%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.074	−0.491%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0068%	24h	66.098	−0.455%	$509K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.080	−0.482%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.100	−0.452%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	−0.422%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0134%	1h	66.094	−0.461%	$165.4M	$73.8M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.133	−0.403%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0143%	4h	66.127	−0.412%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDTshort	+0.0148%	4h	66.150	−0.377%	$27.0M	$36.1M	150x
Paradex XAG-USD-PERP	+0.0151%	8h	66.130	−0.406%	$30K	$1K	5x	as long as short
Nado XAG-PERP	+0.0188%	1h	66.065	−0.505%	$1.3M	$6.5M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.136	−0.397%	$47K	—	10x	as long as short
Lighter XAG	+0.0200%	1h	66.130	−0.407%	$5.2M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	−0.407%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0202%	4h	66.133	−0.402%	$5.6M	$9.7M	—	as long as short
BloFin XAG-USDT	+0.0212%	4h	66.130	−0.407%	$2.6M	$554K	100x	as long as short
MEXC SILVER_USDT	+0.0212%	4h	66.130	−0.407%	$109.0M	$152.4M	1000x	as long as short
Binance XAGUSDT	+0.0215%	4h	66.140	−0.392%	$192.8M	$701.2M	100x	as long as short
edgeX XAGUSDC	+0.0226%	4h	66.170	−0.346%	$671K	$310K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0230%	8h	66.140	−0.392%	$27.7M	$65.5M	50x	as long as short
Aftermath Perps XAGUSD	+0.0231%	1h	66.101	−0.450%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.140	−0.392%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.144	−0.386%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0314%	1h	66.145	−0.384%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	66.075	−0.490%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.110	−0.437%	$62K	$348K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0373% / S −0.0406%	1h	66.135	−0.399%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.105	−0.444%	$912K	$676K	25x	as long as short