Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0153%/8h= −16.8% APRpaid last 24h +0.034%

Price spread now: Deribit against OKX+0.046%56s7-day average −0.004% · 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−$280.276% of the position

Long on OKX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.091%+$9 on $10k

Price spread, last 4 days (all we have)+0.045%+$4 · spread now +0.046%, 7d avg −0.004%

Together, before fees+0.135%+$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.050% dearer against OKX than usual: you sell high and buy low (spread +0.046% now, against its 7-day average of −0.004%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 26 hours. Mind the row above: over the last 4 days funding on this pair paid +0.091%, so the current rate has only just turned against you. The two prices were read 56 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	65.480	0.0209	pay 0.0209% / 8h	6h 56m	$28.2M	$81.2M	50x
Short	Deribit SILVER_USDC-PERPETUAL	65.510	0.0055	get 0.0007% / 1h	56m 26s	$77K	$436K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$32.23
Price spread: +0.046% → −0.004%: $4.97
Slippage, 4 orders: −$10.55
Fee OKX: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$54.81
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Deribit: live order book, 37 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	7.1 bp −$7	7.6 bp −$76	13.5 bp −$1,348	doesn't fit
Sell Deribit live order book, 37 min ago	3.86 bp	7.4 bp −$7	7.4 bp −$74	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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.341%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0070%	1h	65.390	−0.137%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.477	−0.004%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.490	+0.015%	$137.0M	$192.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.530	+0.076%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.580	+0.153%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.540	+0.092%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.170%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.493	+0.020%	$4.5M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.445	−0.054%	$5.0M	$12.0M	10x	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	65.560	+0.122%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.933	+0.692%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.511	+0.047%	$36K	$22K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.453	−0.041%	$174.0M	$92.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.458	−0.034%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.483	+0.005%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0055%	1h	65.510	+0.046%	$77K	$436K	20x
QFEX SILVER-USD	+0.0062%	1h	65.490	+0.015%	$435K	$1.5M	20x	as long as short
Variational Omni XAG	+0.0076%	4h	65.573	+0.142%	$5.4M	$9.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0076%	8h	65.477	−0.005%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.570	+0.137%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0090%	24h	65.562	+0.125%	$659K	$36.2M	8.1x	as long as short
Nado XAG-PERP	+0.0095%	1h	65.462	−0.027%	$1.2M	$4.1M	10x	as long as short
Pacifica XAG	+0.0100%	1h	65.444	−0.055%	$466K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.460	−0.031%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.570	+0.137%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.549	+0.105%	$56K	$12K	25x	as long as short
MEXC SILVER_USDT	+0.0118%	4h	65.480	0.000%	$117.1M	$160.1M	1000x	as long as short
Binance XAGUSDT	+0.0118%	4h	65.489	+0.013%	$193.3M	$825.7M	100x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.533	+0.081%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0127%	4h	65.630	+0.230%	$669K	$313K	30x	as long as short
Aster XAGUSDT	+0.0132%	4h	65.500	+0.030%	$2.7M	$1.1M	100x	as long as short
Bullet SILVER-USD	+0.0167%	1h	65.492	+0.019%	$45K	$75K	10x	as long as short
Lighter XAG	+0.0176%	1h	65.502	+0.034%	$5.1M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0199%	1h	65.506	+0.040%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.511	+0.048%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAPlong	+0.0209%	8h	65.480	long leg	$28.2M	$81.2M	50x
Bitget XAGUSDT	+0.0228%	4h	65.490	+0.015%	$23.0M	$49.5M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.495	+0.023%	$93K	—	111x	as long as short
Bybit XAGUSDT	+0.0242%	4h	65.490	+0.015%	$30.7M	$45.2M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0302%	4h	65.567	+0.132%	$384K	$1.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.503	+0.034%	$21K	$12K	10x	as long as short
BloFin XAG-USDT	+0.0359%	4h	65.560	+0.122%	$2.7M	$710K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0773%	1h	65.509	+0.045%	$1.0M	$893K	25x	as long as short