Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.018%

Price spread now: MEXC against QFEX0.000%7-day average +0.036% · 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−$22as in the Price arb table

costs, in and out, $10k−$190.187% of the position

Long on QFEX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.019%+$2 on $10k

Price spread, last 7 days+0.021%+$2 · spread now 0.000%, 7d avg +0.036%

Together, before fees+0.040%+$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.036% cheaper against QFEX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.036%). If the spread goes back, that is −$4 on $10k: about 2.3 days of funding at the current rate (+$2 a day). At the pace of the last 3 days (+0.019% in total) that is about 6.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	QFEX SILVER-USD	66.780	0.0051	pay 0.0006% / 1h	45m 06s	$115K	$2.8M	20x
Short	MEXC SILVER_USDT	66.780	0.0102	get 0.0051% / 4h	3h 45m	$108.8M	$157.0M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now 0.000%Rate

Funding earned: $10.79
Price spread: 0.000% → +0.036%: −$3.61
Slippage, 4 orders: −$8.71
Fee QFEX: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$11.53
Costs to cover: 0.187%
Break-even: 14.5 days

Slippage from QFEX: live order book, 2 min ago; MEXC: 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, 2 min ago	1.50 bp	9.3 bp −$9	9.5 bp −$95	10.8 bp −$1,082	doesn't fit
Sell MEXC live order book, 4 min ago	0.75 bp	0.7 bp −$1	0.7 bp −$7	0.7 bp −$75	2.8 bp −$1,401

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
Hotstuff SILVER-PERP	−0.0032%	1h	66.754	−0.039%	$36K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.743	−0.055%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.790	+0.015%	$26.1M	$35.3M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	66.820	+0.060%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.800	+0.030%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.790	+0.015%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.734	−0.069%	$121K	—	250x	as long as short
Gate XAG_USDT	+0.0004%	4h	66.780	0.000%	$155.6M	$166.2M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.767	−0.019%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.732	−0.071%	$5.4M	$13.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.569%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.750	−0.045%	$803K	$2.7M	40x	as long as short
BloFin XAG-USDT	+0.0042%	4h	66.810	+0.045%	$2.6M	$692K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	67.235	+0.681%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.733	−0.070%	$57K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.747	−0.049%	$166.1M	$86.2M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.763	−0.025%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.728	−0.078%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.700	−0.120%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USDlong	+0.0051%	1h	66.780	long leg	$115K	$2.8M	20x
Kalshi KXSILVERPERP	+0.0059%	24h	66.740	−0.060%	$573K	$21.9M	8.1x	as long as short
Lighter XAG	+0.0072%	1h	66.774	−0.009%	$5.4M	$10.4M	25x	as long as short
Paradex XAG-USD-PERP	+0.0087%	8h	66.790	+0.016%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0092%	4h	66.785	+0.007%	$5.6M	$9.9M	—	as long as short
Aster XAGUSDT	+0.0098%	4h	66.787	+0.010%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.744	−0.053%	$476K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.760	−0.030%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.780	0.000%	$127K	$26K	50x	as long as short
Binance XAGUSDT	+0.0102%	4h	66.790	+0.015%	$191.9M	$725.0M	100x	as long as short
MEXC SILVER_USDTshort	+0.0102%	4h	66.780	0.000%	$108.8M	$157.0M	1000x
Aevo XAG-PERP	+0.0104%	1h	66.782	+0.003%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0114%	4h	66.841	+0.092%	$678K	$315K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0118%	4h	66.810	+0.045%	$397K	$1.5M	25x	as long as short
Nado XAG-PERP	+0.0136%	1h	66.757	−0.034%	$1.3M	$6.5M	10x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.803	+0.034%	$1.3M	$4.2M	20x	as long as short
Bitget XAGUSDT	+0.0164%	4h	66.790	+0.015%	$24.8M	$48.6M	100x	as long as short
Aftermath Perps XAGUSD	+0.0176%	1h	66.775	−0.008%	$80K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0183%	1h	66.794	+0.022%	$45K	$75K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.780	0.000%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0188%	8h	66.790	+0.015%	$28.2M	$67.4M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0200%	1h	66.770	−0.015%	$51K	$344K	20x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.746	−0.052%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.795	+0.022%	$104K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0487%	1h	66.755	−0.037%	$766K	$589K	25x	as long as short