Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0050%/8h= −5.5% APRpaid last 24h −0.015%

Price spread now: SunX against Polymarket Perps+0.048%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$80as in the Price arb table

costs, in and out, $10k−$780.776% of the position

Long on Polymarket Perps Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now +0.048%, 7d avg +0.072%

Together, before fees+0.082%+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.024% cheaper against Polymarket Perps than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.072%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	66.168	0.0050	pay 0.0006% / 1h	46m 11s	$3.9M	$672K	20x
Short	SunX XAG-USDT	66.200	0	get 0.0000% / 4h	1h 46m	$2K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$10.5
Price spread: +0.048% → +0.072%: −$2.39
Slippage, 4 orders: −$61.63
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee SunX: 4 bp × 2 orders: −$8
Net: −$90.52
Costs to cover: 0.776%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 3 min ago; SunX: live order book, 11 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	1.06 bp	5.2 bp −$5	5.6 bp −$56	7.4 bp −$744	doesn't fit
Sell SunX live order book, 11 min ago	29.36 bp	33.4 bp −$33	doesn't fit	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	66.178	+0.015%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.220	+0.079%	$150.9M	$161.9M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.200	+0.048%	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.260	+0.139%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.240	+0.109%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.135	−0.050%	$121K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0030%	1h	66.100	−0.103%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.181	+0.020%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.132	−0.055%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.351%	$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	66.220	+0.079%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.641	+0.715%	—	—	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	66.168	long leg	$3.9M	$672K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.129	−0.059%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.200	+0.048%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.169	+0.002%	$546K	$24.5M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.178	+0.015%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0082%	1h	66.163	−0.008%	$165.7M	$74.8M	25x	as long as short
Phoenix SILVER	+0.0084%	1h	66.206	+0.057%	$56K	$26K	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.157	−0.017%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.160	−0.012%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.170	+0.003%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.201	+0.050%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.213	+0.068%	$2.7M	$894K	100x	as long as short
Bybit XAGUSDT	+0.0145%	4h	66.210	+0.063%	$26.7M	$36.1M	150x	as long as short
Lighter XAG	+0.0168%	1h	66.189	+0.031%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.192	+0.036%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	+0.112%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.210	+0.063%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0188%	4h	66.190	+0.033%	$110.5M	$151.9M	1000x	as long as short
Binance XAGUSDT	+0.0189%	4h	66.204	+0.054%	$191.6M	$703.7M	100x	as long as short
edgeX XAGUSDC	+0.0192%	4h	66.221	+0.081%	$672K	$315K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.275%	$1.9M	$972K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.210	+0.063%	$27.8M	$65.5M	50x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.205	+0.056%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0238%	1h	66.161	−0.010%	$1.3M	$6.6M	10x	as long as short
BloFin XAG-USDT	+0.0243%	4h	66.240	+0.109%	—	$559K	100x	as long as short
Bitget XAGUSDT	+0.0250%	4h	66.200	+0.048%	$23.8M	$46.1M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	66.170	+0.003%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0260%	1h	66.206	+0.057%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0278%	4h	66.277	+0.165%	$400K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0332% / S −0.0344%	1h	66.205	+0.056%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0506%	1h	66.190	+0.033%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.166	−0.003%	$763K	$475K	25x	as long as short