Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0040%/8h= −4.3% APRpaid last 24h −0.017%

Price spread now: Phoenix against KuCoin−0.038%78s7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.038% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 78 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	KuCoin XAGUSDTM	66.050	0.0100	pay 0.0050% / 4h	10m 01s	$24.5M	$4.5M	75x
Short	Phoenix SILVER	66.025	0.0060	get 0.0008% / 1h	10m 01s	$56K	$26K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against KuCoin. 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 KuCoinbpFee PhoenixbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$8.3
Price spread: −0.038% → 0.000%: −$3.79
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.09
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 9 min ago; Phoenix: no order-book sample. 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 KuCoin live order book, 9 min ago	0.76 bp	7.4 bp −$7	17.1 bp −$171	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	66.018	−0.048%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.120	+0.106%	$150.2M	$163.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.100	+0.076%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.121%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.140	+0.136%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.028	−0.034%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.093	+0.065%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.025	−0.038%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.530%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.070	+0.030%	$795K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0044%	1h	65.960	−0.136%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.514	+0.702%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.027	−0.035%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.061	+0.017%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.021	−0.044%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.090	+0.061%	$115K	$2.7M	20x	as long as short
Phoenix SILVERshort	+0.0060%	1h	66.025	−0.038%	$56K	$26K	25x
Kalshi KXSILVERPERP	+0.0071%	24h	66.057	+0.011%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.029	−0.032%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTMlong	+0.0100%	4h	66.050	long leg	$24.5M	$4.5M	75x
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	+0.015%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0126%	1h	66.078	+0.042%	$166.0M	$74.4M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.077	+0.040%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0141%	8h	66.078	+0.043%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0144%	4h	66.080	+0.045%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0168%	4h	66.130	+0.121%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.088	+0.058%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.097	+0.071%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.045%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	+0.019%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0210%	4h	66.100	+0.076%	$110.5M	$153.0M	1000x	as long as short
BloFin XAG-USDT	+0.0212%	4h	66.120	+0.106%	$2.6M	$554K	100x	as long as short
Binance XAGUSDT	+0.0212%	4h	66.120	+0.106%	$192.8M	$700.3M	100x	as long as short
Nado XAG-PERP	+0.0213%	1h	66.029	−0.032%	$1.4M	$6.4M	10x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	+0.029%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0222%	4h	66.092	+0.064%	$671K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	66.110	+0.091%	$27.7M	$65.0M	50x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.110	+0.091%	$23.8M	$45.4M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.094	+0.067%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0289%	1h	66.104	+0.082%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.080	+0.045%	$75K	$362K	20x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.020	−0.045%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.115	+0.098%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.070	+0.030%	$912K	$683K	25x	as long as short