Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0307%/8h= +33.6% APRpaid last 24h +0.028%

Price spread now: BloFin against Polymarket Perps+0.188%45s7-day average +0.069% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as 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−$250.254% of the position

Long on Polymarket Perps Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 4 days (all we have)+0.023%+$2 · spread now +0.188%, 7d avg +0.069%

Together, before fees−0.189%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and BloFin is 0.120% dearer against Polymarket Perps than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.069%. Mind the row above: over the last 7 days funding on this pair cost −0.211%, so the current rate has only just turned in your favour. The two prices were read 45 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.211% in total (about -11.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	65.277	0.0050	pay 0.0006% / 1h	54m 20s	$3.8M	$891K	20x
Short	BloFin XAG-USDT	65.400	0.0357	get 0.0178% / 4h	2h 54m	$2.7M	$709K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Polymarket Perps. 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 Polymarket PerpsbpFee BloFinbpOrdersPrice spread, now +0.188%Rate

Funding earned: $64.42
Price spread: +0.188% → +0.069%: $11.97
Slippage, 4 orders: −$5.36
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee BloFin: 6 bp × 2 orders: −$12
Net: $51.04
Costs to cover: 0.254%
Break-even: 1.5 days

Slippage from Polymarket Perps: live order book, 5 min ago; BloFin: live order book, 9 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 Polymarket Perps live order book, 5 min ago	0.99 bp	6.7 bp −$7	9.5 bp −$95	31.4 bp −$3,141	doesn't fit
Sell BloFin live order book, 9 min ago	0.76 bp	6.8 bp −$7	6.8 bp −$68	7.3 bp −$732	18.2 bp −$9,106

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	−1.034%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0064%	1h	65.220	−0.087%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.293	+0.024%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.330	+0.081%	$137.4M	$192.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.370	+0.142%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.430	+0.234%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.360	+0.127%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.481%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.287	+0.015%	$4.5M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.242	−0.054%	$5.0M	$11.9M	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	65.510	+0.357%	$788K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.754	+0.731%	—	—	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	65.277	long leg	$3.8M	$891K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.293	+0.025%	$3K	$6K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.296	+0.029%	$35K	$23K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0056%	1h	65.330	+0.081%	$77K	$436K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0058%	1h	65.280	+0.005%	$173.5M	$92.3M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.290	+0.020%	$433K	$1.5M	20x	as long as short
Paradex XAG-USD-PERP	+0.0075%	8h	65.275	−0.004%	$29K	$166	5x	as long as short
Variational Omni XAG	+0.0075%	4h	65.472	+0.299%	$5.5M	$9.2M	—	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.440	+0.250%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0091%	24h	65.457	+0.276%	$639K	$36.3M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.251	−0.039%	$464K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.270	−0.011%	$25.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.520	+0.372%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.478	+0.308%	$56K	$13K	25x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.393	+0.177%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0115%	4h	65.310	+0.050%	$192.8M	$826.7M	100x	as long as short
MEXC SILVER_USDT	+0.0116%	4h	65.310	+0.051%	$116.7M	$161.1M	1000x	as long as short
edgeX XAGUSDC	+0.0129%	4h	65.542	+0.406%	$668K	$313K	30x	as long as short
Aster XAGUSDT	+0.0130%	4h	65.313	+0.054%	$2.7M	$1.1M	100x	as long as short
Nado XAG-PERP	+0.0135%	1h	65.257	−0.031%	$1.2M	$4.2M	10x	as long as short
Lighter XAG	+0.0176%	1h	65.300	+0.036%	$5.1M	$11.3M	25x	as long as short
Bullet SILVER-USD	+0.0182%	1h	65.317	+0.062%	$44K	$75K	10x	as long as short
Aftermath Perps XAGUSD	+0.0201%	1h	65.443	+0.255%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.304	+0.042%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0208%	8h	65.310	+0.051%	$28.1M	$81.2M	50x	as long as short
Bybit XAGUSDT	+0.0217%	4h	65.330	+0.081%	$30.6M	$45.3M	150x	as long as short
Bitget XAGUSDT	+0.0226%	4h	65.320	+0.066%	$23.0M	$49.6M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.385	+0.165%	$93K	—	111x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	65.550	+0.418%	$396K	$1.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.331	+0.083%	$21K	$12K	10x	as long as short
BloFin XAG-USDTshort	+0.0357%	4h	65.400	+0.188%	$2.7M	$709K	100x
Kraken Futures PF_XAGUSD	+0.0775%	1h	65.340	+0.097%	$1.0M	$893K	25x	as long as short