Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.029%

Price spread now: Bybit against Nado+0.061%7-day average +0.046% · 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−$20as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on Nado Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.052%−$5 on $10k

Price spread, last 7 days−0.018%−$2 · spread now +0.061%, 7d avg +0.046%

Together, before fees−0.070%+ Points / potential airdropNado: Active · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.046%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XAG-PERP	65.940	0.0171	pay 0.0021% / 1h	44m 15s	$1.4M	$6.1M	10x
Short	Bybit XAGUSDT	65.980	0.0076	get 0.0038% / 4h	3h 44m	$27.3M	$36.4M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Nado. 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 NadobpFee BybitbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$19.98
Price spread: +0.061% → +0.046%: $1.48
Slippage, 4 orders: −$3.26
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$39.76
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Bybit: live order book, 5 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 Nado live order book, 5 min ago	0.08 bp	4.4 bp −$4	8.1 bp −$81	28.0 bp −$2,804	doesn't fit
Sell Bybit live order book, 5 min ago	0.76 bp	6.3 bp −$6	8.4 bp −$84	18.2 bp −$1,819	84.1 bp −$42.0K

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
Ondo Perps XAG-USD.P	−0.0046%	1h	65.870	−0.106%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.009%	$14K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.990	+0.076%	$149.5M	$163.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.960	+0.031%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.030	+0.137%	$1.0M	$967K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.980	+0.061%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.910	−0.045%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.956	+0.024%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.909	−0.046%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.698%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.010	+0.107%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.415	+0.721%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.932	−0.012%	$165.9M	$73.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.956	+0.025%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.900	−0.060%	$3K	$6K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.984	+0.067%	$35K	$21K	20x	as long as short
QFEX SILVER-USD	+0.0060%	1h	65.970	+0.046%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0072%	24h	65.956	+0.025%	$538K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.967	+0.041%	$56K	$26K	25x	as long as short
Bybit XAGUSDTshort	+0.0076%	4h	65.980	+0.061%	$27.3M	$36.4M	150x
RISEx XAG/USDC	+0.0080%	1h	65.986	+0.070%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.922	−0.027%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.950	+0.016%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.970	+0.046%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.960	+0.031%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0122%	8h	65.977	+0.056%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0140%	4h	65.974	+0.052%	$2.7M	$871K	100x	as long as short
BloFin XAG-USDT	+0.0159%	4h	66.000	+0.092%	$2.6M	$556K	100x	as long as short
Nado XAG-PERPlong	+0.0171%	1h	65.940	long leg	$1.4M	$6.1M	10x
Aevo XAG-PERP	+0.0192%	1h	65.964	+0.036%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0195%	4h	66.003	+0.097%	$5.6M	$9.4M	—	as long as short
MEXC SILVER_USDT	+0.0204%	4h	65.970	+0.046%	$112.9M	$152.1M	1000x	as long as short
Binance XAGUSDT	+0.0205%	4h	65.970	+0.046%	$190.9M	$702.6M	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.940	+0.001%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	+0.016%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0212%	4h	66.009	+0.105%	$394K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0213%	1h	65.967	+0.042%	$79K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.014	+0.113%	$670K	$312K	30x	as long as short
Bullet SILVER-USD	+0.0231%	1h	65.980	+0.061%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	65.980	+0.061%	$27.6M	$64.7M	50x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.960	+0.031%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	65.945	+0.008%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.975	+0.054%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.945	+0.007%	$910K	$683K	25x	as long as short