Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.052%

Price spread now: Coinbase International against Phemex+0.091%7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$380.383% of the position

Long on Phemex Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.254%+$25 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.091%, 7d avg −0.066%

Together, before fees+0.127%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Coinbase International is 0.157% dearer against Phemex than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.650	0	get 0.0000% / 4h	58m 10s	$1.5M	$257K	100x
Short	Coinbase International SILVER-PERP-INTX	65.710	0.0104	get 0.0013% / 1h	58m 10s	$1.6M	$1.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Phemex. 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 PhemexbpFee Coinbase InternationalbpOrdersPrice spread, now +0.091%Rate

Funding earned: $21.84
Price spread: +0.091% → −0.066%: $15.75
Slippage, 4 orders: −$16.3
Fee Phemex: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$0.71
Costs to cover: 0.383%
Break-even: 7.2 days

Slippage from Phemex: live order book, 3 min ago; Coinbase International: live order book, 4 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 Phemex live order book, 3 min ago	1.52 bp	13.3 bp −$13	20.1 bp −$201	doesn't fit	doesn't fit
Sell Coinbase International live order book, 4 min ago	0.76 bp	7.4 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit

XAG on 44 exchanges

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	−0.0029%	1h	65.580	−0.107%	$5.7M	$11.1M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.635	−0.022%	$13K	$8K	5x	as long as short
RISEx XAG/USDC	0.0000%	1h	65.692	+0.064%	$1.2M	$5.4M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	65.640	−0.015%	$136.6M	$198.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.660	+0.015%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.680	+0.046%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.650	long leg	$1.5M	$257K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.599	−0.078%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.638	−0.018%	$4.6M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.599	−0.078%	$5.1M	$11.9M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.596%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.660	+0.015%	$790K	$3.0M	40x	as long as short
QFEX SILVER-USD	+0.0042%	1h	65.670	+0.030%	$447K	$1.4M	20x	as long as short
Bybit XAGUSDT	+0.0044%	4h	65.630	−0.030%	$30.4M	$48.1M	150x	as long as short
Vest SI-PERP	+0.0046%	1h	66.100	+0.685%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.651	+0.002%	$39K	$26K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.652	+0.003%	$3.8M	$904K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.593	−0.087%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.661	+0.017%	$29K	—	5x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.620	−0.046%	$77K	$412K	20x	as long as short
Variational Omni XAG	+0.0061%	4h	65.748	+0.149%	$5.6M	$9.0M	—	as long as short
Aster XAGUSDT	+0.0075%	4h	65.634	−0.024%	$2.7M	$1.2M	100x	as long as short
Binance XAGUSDT	+0.0079%	4h	65.625	−0.039%	$190.8M	$864.9M	100x	as long as short
MEXC SILVER_USDT	+0.0080%	4h	65.630	−0.030%	$114.4M	$162.5M	1000x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.640	−0.016%	$47K	—	10x	as long as short
tradeXYZ xyz:SILVER	+0.0093%	1h	65.606	−0.067%	$175.7M	$93.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.636	−0.021%	$463K	$520K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.620	−0.046%	$25.4M	$4.3M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.730	+0.122%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0102%	4h	65.762	+0.171%	$390K	$1.6M	25x	as long as short
edgeX XAGUSDC	+0.0104%	4h	65.741	+0.139%	$670K	$316K	30x	as long as short
Lighter XAG	+0.0104%	1h	65.642	−0.012%	$5.3M	$11.8M	25x	as long as short
Coinbase International SILVER-PERP-INTXshort	+0.0104%	1h	65.710	+0.091%	$1.6M	$1.9M	20x
Kalshi KXSILVERPERP	+0.0106%	24h	65.672	+0.034%	$793K	$38.8M	8.1x	as long as short
Phoenix SILVER	+0.0122%	1h	65.734	+0.128%	$55K	$14K	25x	as long as short
Nado XAG-PERP	+0.0158%	1h	65.638	−0.018%	$1.2M	$3.4M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0179%	8h	65.630	−0.030%	$27.9M	$86.0M	50x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.640	−0.015%	$23.1M	$52.9M	100x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	65.644	−0.010%	$21K	$12K	10x	as long as short
Aftermath Perps XAGUSD	+0.0225%	1h	65.677	+0.042%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0229%	1h	65.676	+0.039%	$45K	$73K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0281% / S −0.0252%	1h	65.665	+0.023%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0323%	4h	65.670	+0.030%	$2.7M	$785K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0539%	1h	65.636	−0.021%	$1.0M	$943K	25x	as long as short