Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0134%/8h= −14.6% APRpaid last 24h −0.016%

Price spread now: ApeX Omni against OKX−0.015%100s7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.494% of the position

Long on OKX Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 4 days (all we have)−0.005%−$1 · spread now −0.015%, 7d avg −0.008%

Together, before fees+0.131%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you. The two prices were read 100 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	OKX XAG-USDT-SWAP	66.070	0.0234	pay 0.0234% / 8h	4h 11m	$27.7M	$65.0M	50x
Short	ApeX Omni XAGUSDT	66.060	0.0100	get 0.0013% / 1h	11m 46s	$113K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against OKX. 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 OKXbpFee ApeX OmnibpOrdersPrice spread, now −0.015%Rate

Funding earned: −$28.04
Price spread: −0.015% → −0.008%: −$0.73
Slippage, 4 orders: −$29.41
Fee OKX: 5 bp × 2 orders: −$10
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$78.17
Costs to cover: 0.494%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; ApeX Omni: live order book, 44 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 OKX live order book, 2 min ago	0.76 bp	5.8 bp −$6	6.8 bp −$68	11.8 bp −$1,184	doesn't fit
Sell ApeX Omni live order book, 44 min ago	9.08 bp	16.3 bp −$16	48.6 bp −$486	doesn't fit	doesn't fit

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	−0.079%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.070	0.000%	$150.0M	$163.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.050	−0.030%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.091%	$1.0M	$969K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.090	+0.030%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.981	−0.134%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.048	−0.034%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.988	−0.125%	$5.2M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.499%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.100	+0.045%	$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	+0.0043%	1h	65.960	−0.166%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.489	+0.634%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.052	−0.027%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.021	−0.074%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.980	−0.136%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.060	−0.015%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.025	−0.068%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.038	−0.048%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.023	−0.071%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.030	−0.061%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTshort	+0.0100%	1h	66.060	−0.015%	$113K	$30K	50x
tradeXYZ xyz:SILVER	+0.0125%	1h	66.027	−0.065%	$165.8M	$74.3M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.075	+0.008%	$1.3M	$4.5M	20x	as long as short
Paradex XAG-USD-PERP	+0.0140%	8h	66.066	−0.007%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0143%	4h	66.062	−0.012%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0167%	4h	66.080	+0.015%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.040	−0.045%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.051	−0.028%	$47K	—	10x	as long as short
BloFin XAG-USDT	+0.0193%	4h	66.120	+0.076%	$2.6M	$554K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.040	−0.045%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0203%	4h	66.163	+0.141%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0210%	4h	66.060	−0.015%	$110.7M	$153.0M	1000x	as long as short
Nado XAG-PERP	+0.0211%	1h	66.008	−0.093%	$1.4M	$6.4M	10x	as long as short
Binance XAGUSDT	+0.0211%	4h	66.068	−0.003%	$192.3M	$700.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0222%	1h	66.060	−0.016%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0222%	4h	66.092	+0.034%	$671K	$313K	30x	as long as short
OKX XAG-USDT-SWAPlong	+0.0234%	8h	66.070	long leg	$27.7M	$65.0M	50x
Bitget XAGUSDT	+0.0256%	4h	66.060	−0.015%	$23.8M	$45.4M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.094	+0.036%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.061	−0.013%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.030	−0.061%	$62K	$349K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.065	−0.008%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0384%	1h	66.050	−0.030%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.028	−0.063%	$912K	$683K	25x	as long as short