Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.022%

Price spread now: Binance against QFEX+0.030%7-day average +0.050% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on QFEX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.027%+$3 on $10k

Price spread, last 7 days+0.017%+$2 · spread now +0.030%, 7d avg +0.050%

Together, before fees+0.044%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.020% cheaper against QFEX than usual: you would sell low and buy high (spread +0.030% now, against its 7-day average of +0.050%). If the spread goes back, that is −$2 on $10k: about 6.3 days of funding at the current rate ($0 a day). At the pace of the last 4 days (+0.027% in total) that is about 2.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	65.350	0.0050	pay 0.0006% / 1h	25m 21s	$152K	$2.8M	20x
Short	Binance XAGUSDT	65.370	0.0061	get 0.0030% / 4h	1h 25m	$190.9M	$763.6M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against QFEX. 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 QFEXbpFee BinancebpOrdersPrice spread, now +0.030%Rate

Funding earned: $2.23
Price spread: +0.030% → +0.050%: −$2.02
Slippage, 4 orders: −$7.56
Fee QFEX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$27.35
Costs to cover: 0.276%
Break-even: 92.7 days

Slippage from QFEX: live order book, 8 min ago; Binance: 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 QFEX live order book, 8 min ago	2.30 bp	7.3 bp −$7	7.3 bp −$73	8.4 bp −$836	doesn't fit
Sell Binance live order book, 4 min ago	0.76 bp	5.8 bp −$6	6.4 bp −$64	9.0 bp −$901	20.9 bp −$10.4K

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
Hibachi XAG/USDT-P	−0.0184%	1h	65.320	−0.046%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0088%	1h	65.240	−0.168%	$5.6M	$9.8M	25x	as long as short
Hotstuff SILVER-PERP	−0.0040%	1h	65.327	−0.035%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.084%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.370	+0.031%	$27.8M	$40.0M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	+0.061%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.420	+0.107%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.390	+0.061%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.320	−0.047%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0026%	4h	65.380	+0.046%	$141.1M	$182.5M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.362	+0.018%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.308	−0.064%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.607%	$11K	$94K	52x	as long as short
Variational Omni XAG	+0.0035%	4h	65.364	+0.021%	$5.5M	$9.4M	—	as long as short
Aster XAGUSDT	+0.0040%	4h	65.340	−0.015%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.360	+0.015%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.784	+0.664%	—	—	25x	as long as short
QFEX SILVER-USDlong	+0.0050%	1h	65.350	long leg	$152K	$2.8M	20x
tradeXYZ xyz:SILVER	+0.0050%	1h	65.333	−0.026%	$170.3M	$83.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.328	−0.034%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.308	−0.064%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	65.353	+0.004%	$29K	$1K	5x	as long as short
Binance XAGUSDTshort	+0.0061%	4h	65.370	+0.030%	$190.9M	$763.6M	100x
RISEx XAG/USDC	+0.0061%	1h	65.384	+0.051%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.347	−0.005%	$56K	$31K	25x	as long as short
MEXC SILVER_USDT	+0.0062%	4h	65.360	+0.015%	$115.9M	$157.4M	1000x	as long as short
edgeX XAGUSDC	+0.0066%	4h	65.342	−0.013%	$665K	$312K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.360	+0.015%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.356	+0.009%	$517K	$31.0M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.308	−0.065%	$467K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.340	−0.015%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.290	−0.092%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.363	+0.019%	$385K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.320	−0.046%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0130%	1h	65.317	−0.050%	$1.2M	$5.4M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.368	+0.028%	$5.4M	$11.4M	25x	as long as short
Bitget XAGUSDT	+0.0176%	4h	65.370	+0.031%	$23.8M	$46.3M	100x	as long as short
Bullet SILVER-USD	+0.0179%	1h	65.374	+0.036%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0183%	8h	65.360	+0.015%	$28.0M	$70.6M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.360	+0.015%	$65K	$378K	20x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.346	−0.006%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0255%	4h	65.350	0.000%	$2.6M	$611K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.365	+0.023%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.353	+0.005%	$916K	$746K	25x	as long as short