Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0006%/8h= +0.6% APRpaid last 24h +0.002%

Price spread now: gTrade (Gains Network) against Phemex−0.079%7-day average −0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$287as in the Price arb table

costs, in and out, $10k−$2912.911% of the position

Long on Phemex Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.002%$0 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now −0.079%, 7d avg −0.118%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: gTrade (Gains Network) is 0.039% dearer against Phemex than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.320	0	get 0.0000% / 4h	33m 08s	$1.5M	$281K	100x
Short	gTrade (Gains Network) XAG/USD	65.268	L +0.0004% / S −0.0006%	get 0.0001% / 1h	33m 08s	$118K	—	250x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.079%Rate

Funding earned: $1.23
Price spread: −0.079% → −0.118%: $3.91
Slippage, 4 orders: −$269.14
Fee Phemex: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$286
Costs to cover: 2.911%
Break-even: 1640.3 days

Slippage from Phemex: live order book, 5 min ago; gTrade (Gains Network): virtual book (oracle venue), 36 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, 5 min ago	2.30 bp	9.8 bp −$10	18.4 bp −$184	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 36 min ago	130.01 bp	135.0 bp −$135	135.0 bp −$1,350	416.8 bp −$41.7K	2012.7 bp −$1.01M

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
Hotstuff SILVER-PERP	−0.0056%	1h	65.295	−0.038%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0041%	1h	65.240	−0.122%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.297	−0.035%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.310	−0.015%	$27.8M	$39.4M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.320	0.000%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.370	+0.077%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.320	long leg	$1.5M	$281K	100x
Variational Omni XAG	0.0000%	4h	65.332	+0.019%	$5.5M	$9.1M	—	as long as short
gTrade (Gains Network) XAG/USDshort	L +0.0004% / S −0.0006%	1h	65.268	−0.079%	$118K	—	250x
Aster XAGUSDT	+0.0024%	4h	65.320	0.000%	$2.7M	$928K	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SILVER_USDT	+0.0026%	4h	65.300	−0.031%	$119.1M	$157.4M	1000x	as long as short
Binance XAGUSDT	+0.0027%	4h	65.310	−0.015%	$191.6M	$753.7M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.310	−0.016%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.271	−0.075%	$5.1M	$11.6M	10x	as long as short
edgeX XAGUSDC	+0.0032%	4h	65.342	+0.033%	$665K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.653%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.320	0.000%	$140.7M	$178.3M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.350	+0.046%	$786K	$2.9M	40x	as long as short
Aevo XAG-PERP	+0.0040%	1h	65.316	−0.006%	$47K	—	10x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.330	+0.015%	$157K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.748	+0.655%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.264	−0.086%	$169.6M	$81.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.296	−0.037%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.267	−0.081%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.310	−0.015%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.316	−0.006%	$56K	$31K	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.299	−0.032%	$518K	$31.7M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.300	−0.031%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.271	−0.075%	$464K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.280	−0.061%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.310	−0.015%	$112K	$19K	50x	as long as short
BloFin XAG-USDT	+0.0107%	4h	65.350	+0.046%	$2.7M	$574K	100x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.337	+0.025%	$1.2M	$4.8M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	65.372	+0.079%	$384K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0152%	4h	65.310	−0.015%	$23.2M	$44.7M	100x	as long as short
Nado XAG-PERP	+0.0159%	1h	65.286	−0.053%	$1.2M	$4.7M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.314	−0.009%	$5.3M	$11.1M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0166%	8h	65.320	0.000%	$28.2M	$69.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0182%	1h	65.309	−0.016%	$79K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0184%	1h	65.313	−0.011%	$20K	$17K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0210%	1h	65.310	−0.015%	$65K	$391K	20x	as long as short
Bullet SILVER-USD	+0.0220%	1h	65.339	+0.029%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.335	+0.023%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.292	−0.043%	$1.0M	$868K	25x	as long as short