Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0022%/8h= −2.4% APRpaid last 24h −0.012%

Price spread now: Gate against QFEX+0.076%7-day average +0.064% · 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−$310.311% of the position

Long on QFEX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.017%−$2 on $10k

Price spread, last 7 days0.000%$0 · spread now +0.076%, 7d avg +0.064%

Together, before fees−0.017%−$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.064%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	65.400	0.0050	pay 0.0006% / 1h	44m 09s	$152K	$2.8M	20x
Short	Gate XAG_USDT	65.450	0.0028	get 0.0014% / 4h	1h 44m	$141.4M	$180.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.076%Rate

Funding earned: −$4.6
Price spread: +0.076% → +0.064%: $1.22
Slippage, 4 orders: −$6.08
Fee QFEX: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34.46
Costs to cover: 0.311%
Break-even: never at this rate

Slippage from QFEX: live order book, 4 min ago; Gate: 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	1.53 bp	6.5 bp −$7	6.5 bp −$65	9.1 bp −$913	doesn't fit
Sell Gate live order book, 5 min ago	0.76 bp	9.8 bp −$10	9.8 bp −$98	11.3 bp −$1,132	13.4 bp −$6,682

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	−0.0120%	1h	65.402	+0.003%	$20K	$20K	10x	as long as short
Hotstuff SILVER-PERP	−0.0088%	1h	65.414	+0.021%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0085%	1h	65.300	−0.153%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.404	+0.005%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.440	+0.061%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.450	+0.076%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.420	+0.031%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.365	−0.053%	$118K	—	250x	as long as short
Bybit XAGUSDT	+0.0024%	4h	65.440	+0.061%	$28.4M	$39.7M	150x	as long as short
Gate XAG_USDTshort	+0.0028%	4h	65.450	+0.076%	$141.4M	$180.7M	100x

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.419	+0.030%	$4.6M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.365	−0.053%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.529%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.410	+0.015%	$787K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.846	+0.682%	—	—	25x	as long as short
Aster XAGUSDT	+0.0047%	4h	65.430	+0.046%	$2.7M	$966K	100x	as long as short
QFEX SILVER-USDlong	+0.0050%	1h	65.400	long leg	$152K	$2.8M	20x
tradeXYZ xyz:SILVER	+0.0050%	1h	65.400	0.000%	$170.4M	$83.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.378	−0.034%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.364	−0.055%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0058%	8h	65.410	+0.015%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.424	+0.036%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.384	−0.024%	$56K	$31K	25x	as long as short
Variational Omni XAG	+0.0070%	4h	65.414	+0.021%	$5.5M	$9.4M	—	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.394	−0.009%	$491K	$30.2M	8.1x	as long as short
Binance XAGUSDT	+0.0081%	4h	65.425	+0.038%	$189.8M	$762.9M	100x	as long as short
MEXC SILVER_USDT	+0.0082%	4h	65.420	+0.031%	$115.3M	$157.0M	1000x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.408	+0.013%	$47K	—	10x	as long as short
Lighter XAG	+0.0088%	1h	65.424	+0.037%	$5.4M	$11.3M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.375	−0.039%	$467K	$627K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.390	−0.015%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.340	−0.092%	$112K	$19K	50x	as long as short
Nado XAG-PERP	+0.0104%	1h	65.370	−0.047%	$1.2M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0107%	4h	65.373	−0.041%	$665K	$314K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0120%	4h	65.397	−0.004%	$397K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	−0.031%	$1.6M	$1.4M	20x	as long as short
Bullet SILVER-USD	+0.0146%	1h	65.421	+0.032%	$43K	$77K	10x	as long as short
Bitget XAGUSDT	+0.0186%	4h	65.440	+0.061%	$23.8M	$46.7M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	65.430	+0.046%	$27.8M	$71.3M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.410	+0.015%	$66K	$372K	20x	as long as short
Aftermath Perps XAGUSD	+0.0212%	1h	65.420	+0.031%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0320% / S −0.0301%	1h	65.425	+0.038%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0322%	4h	65.470	+0.107%	$2.6M	$616K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.391	−0.013%	$916K	$746K	25x	as long as short