Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0202%/8h= +22.1% APRpaid last 24h +0.050%

Price spread now: Bitget against QFEX−0.030%7-day average +0.050% · 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−$38as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on QFEX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.059%+$6 on $10k

Price spread, last 7 days+0.059%+$6 · spread now −0.030%, 7d avg +0.050%

Together, before fees+0.119%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bitget is 0.081% 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 −$8 on $10k: about 32 hours of funding at the current rate (+$6 a day). At the pace of the last 4 days (+0.059% in total) that is about 4.9 days.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.059% in total (about 6.1% 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	QFEX SILVER-USD	66.110	0.0054	pay 0.0007% / 1h	14m 03s	$115K	$2.7M	20x
Short	Bitget XAGUSDT	66.090	0.0256	get 0.0128% / 4h	14m 03s	$23.8M	$45.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.030%Rate

Funding earned: $42.37
Price spread: −0.030% → +0.050%: −$8.06
Slippage, 4 orders: −$7.56
Fee QFEX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $4.75
Costs to cover: 0.296%
Break-even: 6.2 days

Slippage from QFEX: live order book, 4 min ago; Bitget: live order book, 5 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, 4 min ago	2.27 bp	7.3 bp −$7	7.3 bp −$73	8.5 bp −$854	doesn't fit
Sell Bitget live order book, 5 min ago	0.76 bp	8.3 bp −$8	9.8 bp −$98	15.8 bp −$1,582	45.0 bp −$22.5K

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	66.018	−0.139%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.100	−0.015%	$150.1M	$163.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.120	+0.015%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.150	+0.061%	$1.0M	$970K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.110	0.000%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.031	−0.119%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.078	−0.048%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.019	−0.138%	$5.2M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.439%	$11K	$94K	52x	as long as short
Ondo Perps XAG-USD.P	+0.0040%	1h	65.980	−0.197%	$5.7M	$9.6M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0040%	1h	66.047	−0.095%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.170	+0.091%	$796K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.533	+0.640%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.083	−0.041%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.018	−0.139%	$3K	$6K	20x	as long as short
QFEX SILVER-USDlong	+0.0054%	1h	66.110	long leg	$115K	$2.7M	20x
Phoenix SILVER	+0.0060%	1h	66.108	−0.003%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.063	−0.071%	$546K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.045	−0.098%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.070	−0.061%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	+0.015%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0124%	1h	66.058	−0.079%	$165.8M	$74.3M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.112	+0.003%	$1.3M	$4.5M	20x	as long as short
Paradex XAG-USD-PERP	+0.0140%	8h	66.107	−0.005%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0142%	4h	66.090	−0.030%	$2.7M	$881K	100x	as long as short
Bybit XAGUSDT	+0.0164%	4h	66.110	0.000%	$27.1M	$36.2M	150x	as long as short
Lighter XAG	+0.0176%	1h	66.081	−0.043%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.087	−0.034%	$47K	—	10x	as long as short
BloFin XAG-USDT	+0.0195%	4h	66.120	+0.015%	$2.6M	$554K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.170	+0.091%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0203%	4h	66.163	+0.081%	$5.6M	$9.5M	—	as long as short
Nado XAG-PERP	+0.0209%	1h	66.065	−0.068%	$1.4M	$6.4M	10x	as long as short
MEXC SILVER_USDT	+0.0210%	4h	66.090	−0.030%	$110.4M	$152.9M	1000x	as long as short
Binance XAGUSDT	+0.0211%	4h	66.098	−0.019%	$192.4M	$700.5M	100x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.081	−0.044%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0224%	4h	66.144	+0.051%	$671K	$312K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0233%	8h	66.100	−0.015%	$27.7M	$65.1M	50x	as long as short
Bitget XAGUSDTshort	+0.0256%	4h	66.090	−0.030%	$23.8M	$45.4M	100x
GRVT XAG_USDT_Perp	+0.0276%	4h	66.174	+0.096%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.108	−0.003%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.070	−0.061%	$62K	$349K	20x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.045	−0.099%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.105	−0.008%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.070	−0.060%	$912K	$683K	25x	as long as short