Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.030%

Price spread now: Phemex against Pacifica+0.139%7-day average +0.098% · you sell dearer than you buy

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

Long on Pacifica Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 4 days (all we have)+0.024%+$2 · spread now +0.139%, 7d avg +0.098%

Together, before fees−0.050%+ Points / potential airdropPacifica: Active · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Phemex is 0.041% dearer against Pacifica than usual: you sell high and buy low (spread +0.139% now, against its 7-day average of +0.098%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 33 hours. At the pace of the last 7 days (−0.074% in total) that is about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica XAG	65.289	0.0100	pay 0.0013% / 1h	57m 55s	$468K	$621K	10x
Short	Phemex XAGUSDT	65.380	0	get 0.0000% / 4h	57m 55s	$1.5M	$281K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Pacifica. 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 PacificabpFee PhemexbpOrdersPrice spread, now +0.139%Rate

Funding earned: −$21
Price spread: +0.139% → +0.098%: $4.15
Slippage, 4 orders: no order book: not counted
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$36.85
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Pacifica: live order book, 46 min ago; Phemex: 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 Pacifica live order book, 46 min ago	0.08 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	3.83 bp	9.8 bp −$10	16.4 bp −$164	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	65.293	+0.006%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.380	+0.139%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.370	+0.124%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.420	+0.201%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.380	+0.139%	$1.5M	$281K	100x
Ondo Perps XAG-USD.P	+0.0001%	1h	65.270	−0.029%	$5.6M	$9.7M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.310	+0.032%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0030%	4h	65.314	+0.038%	$5.5M	$9.2M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.373	+0.129%	$4.6M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.305	+0.024%	$5.1M	$11.6M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.702%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.400	+0.170%	$141.4M	$176.1M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	+0.063%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.370	+0.124%	$2.7M	$958K	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.390	+0.155%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.764	+0.728%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.291	+0.003%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.351	+0.095%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.303	+0.021%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.329	+0.061%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.370	+0.124%	$116.9M	$155.9M	1000x	as long as short
Binance XAGUSDT	+0.0055%	4h	65.369	+0.123%	$191.6M	$763.3M	100x	as long as short
Phoenix SILVER	+0.0061%	1h	65.274	−0.023%	$56K	$30K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	65.348	+0.090%	$170.6M	$83.2M	25x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.365	+0.117%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0075%	4h	65.308	+0.028%	$665K	$314K	30x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.347	+0.089%	$483K	$31.5M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.230	−0.090%	$1.6M	$1.4M	20x	as long as short
Pacifica XAGlong	+0.0100%	1h	65.289	long leg	$468K	$621K	10x
KuCoin XAGUSDTM	+0.0100%	4h	65.330	+0.063%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.260	−0.044%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.382	+0.142%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0142%	4h	65.325	+0.055%	$391K	$1.6M	25x	as long as short
Lighter XAG	+0.0144%	1h	65.372	+0.127%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0152%	1h	65.288	−0.002%	$20K	$18K	10x	as long as short
Nado XAG-PERP	+0.0167%	1h	65.305	+0.025%	$1.2M	$5.1M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.370	+0.124%	$23.7M	$45.9M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0183%	8h	65.360	+0.109%	$28.1M	$71.0M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.350	+0.093%	$66K	$385K	20x	as long as short
Aftermath Perps XAGUSD	+0.0215%	1h	65.301	+0.019%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0222%	4h	65.310	+0.032%	$2.6M	$598K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.375	+0.132%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0248%	1h	65.372	+0.127%	$44K	$75K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.342	+0.081%	$1.0M	$875K	25x	as long as short