Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0152%/8h= +16.6% APRpaid last 24h +0.021%

Price spread now: MEXC against Polymarket Perps+0.045%49s7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as 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−$130.129% of the position

Long on Polymarket Perps Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.033%−$3 on $10k

Price spread, last 7 days+0.033%+$3 · spread now +0.045%, 7d avg +0.088%

Together, before fees0.000%$0 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.042% cheaper against Polymarket Perps than usual: you would sell low and buy high (spread +0.045% now, against its 7-day average of +0.088%). If the spread goes back, that is −$4 on $10k: about 22 hours of funding at the current rate (+$5 a day). The two prices were read 49 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	Polymarket Perps SILVER-USD	65.940	0.0050	pay 0.0006% / 1h	40m 38s	$3.9M	$674K	20x
Short	MEXC SILVER_USDT	65.970	0.0202	get 0.0101% / 4h	3h 40m	$112.8M	$152.1M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.045%Rate

Funding earned: $31.92
Price spread: +0.045% → +0.088%: −$4.22
Slippage, 4 orders: −$4.93
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee MEXC: 0 bp × 2 orders: $0
Net: $14.76
Costs to cover: 0.129%
Break-even: 3.8 days

Slippage from Polymarket Perps: live order book, 3 min ago; MEXC: live order book, 3 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, 3 min ago	0.99 bp	5.8 bp −$6	6.0 bp −$60	7.3 bp −$727	doesn't fit
Sell MEXC live order book, 3 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	2.5 bp −$1,264

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
Ondo Perps XAG-USD.P	−0.0043%	1h	65.830	−0.167%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.010%	$14K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.980	+0.061%	$149.5M	$163.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.970	+0.045%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.020	+0.121%	$1.0M	$966K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.980	+0.061%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.914	−0.040%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.961	+0.032%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.915	−0.038%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.698%	$11K	$94K	52x	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	65.970	+0.045%	$793K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.389	+0.681%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.922	−0.027%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	65.940	long leg	$3.9M	$674K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.909	−0.047%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0051%	1h	65.936	−0.006%	$165.9M	$73.6M	25x	as long as short
QFEX SILVER-USD	+0.0060%	1h	65.950	+0.015%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0072%	24h	65.930	−0.015%	$539K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.889	−0.077%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.975	+0.054%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.914	−0.040%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.930	−0.015%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.920	−0.030%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.970	+0.045%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0117%	8h	65.970	+0.045%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0130%	4h	65.990	+0.076%	$27.4M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0138%	4h	65.970	+0.045%	$2.7M	$871K	100x	as long as short
Nado XAG-PERP	+0.0180%	1h	65.919	−0.032%	$1.4M	$6.0M	10x	as long as short
Aevo XAG-PERP	+0.0184%	1h	65.960	+0.030%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0188%	4h	65.963	+0.036%	$5.6M	$9.4M	—	as long as short
MEXC SILVER_USDTshort	+0.0202%	4h	65.970	+0.045%	$112.8M	$152.1M	1000x
Binance XAGUSDT	+0.0202%	4h	65.980	+0.061%	$191.0M	$702.5M	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.950	+0.015%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	+0.015%	$1.8M	$1.0M	20x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	65.937	−0.004%	$79K	$36K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0218%	4h	66.022	+0.124%	$394K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0219%	4h	65.962	+0.033%	$669K	$310K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	65.970	+0.045%	$27.7M	$64.8M	50x	as long as short
Bullet SILVER-USD	+0.0235%	1h	65.974	+0.052%	$45K	$76K	10x	as long as short
BloFin XAG-USDT	+0.0238%	4h	65.960	+0.030%	$2.6M	$556K	100x	as long as short
Bitget XAGUSDT	+0.0242%	4h	65.980	+0.061%	$23.9M	$45.3M	100x	as long as short
Hibachi XAG/USDT-P	+0.0336%	1h	65.912	−0.043%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.975	+0.053%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0625%	1h	65.935	−0.007%	$910K	$683K	25x	as long as short