Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0062%/8h= −6.8% APRpaid last 24h −0.015%

Price spread now: SunX against QFEX+0.046%7-day average +0.028% · 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−$80as in the Price arb table

costs, in and out, $10k−$820.822% of the position

Long on QFEX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.023%−$2 on $10k

Price spread, last 4 days (all we have)+0.060%+$6 · spread now +0.046%, 7d avg +0.028%

Together, before fees+0.037%+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.028%, so right now this pair is about funding alone: −$2 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	65.670	0.0062	pay 0.0008% / 1h	3m 54s	$446K	$1.4M	20x
Short	SunX XAG-USDT	65.700	0	get 0.0000% / 4h	2h 03m	$2K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.046%Rate

Funding earned: −$13
Price spread: +0.046% → +0.028%: $1.82
Slippage, 4 orders: −$64.19
Fee QFEX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$93.38
Costs to cover: 0.822%
Break-even: never at this rate

Slippage from QFEX: live order book, 6 min ago; SunX: live order book, 7 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, 6 min ago	2.29 bp	7.3 bp −$7	7.3 bp −$73	9.1 bp −$907	14.0 bp −$6,982
Sell SunX live order book, 7 min ago	29.81 bp	33.8 bp −$34	63.0 bp −$630	doesn't fit	doesn't fit

XAG on 44 exchanges

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	−0.4840%	1h	65.582	−0.134%	$36K	$23K	20x	as long as short
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.626%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0005%	1h	65.600	−0.107%	$5.7M	$10.6M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.672	+0.003%	$12K	$7K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.620	−0.076%	$138.8M	$202.8M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	65.700	+0.046%	$2K	$2.4M	20x
HTX XAG-USDT	0.0000%	4h	65.720	+0.076%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.680	+0.015%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.630	−0.060%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.660	−0.016%	$4.6M	$9.8M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.558	−0.171%	$5.1M	$11.8M	10x	as long as short
StandX XAG-USD	+0.0040%	1h	65.680	+0.015%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.105	+0.662%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.650	−0.030%	$3.8M	$894K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.627	−0.065%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0058%	8h	65.694	+0.037%	$29K	$166	5x	as long as short
QFEX SILVER-USDlong	+0.0062%	1h	65.670	long leg	$446K	$1.4M	20x
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.630	−0.061%	$1.6M	$1.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0098%	24h	65.732	+0.094%	$711K	$38.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.687	+0.026%	$468K	$572K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.600	−0.107%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.500	−0.259%	$112K	$19K	50x	as long as short
Variational Omni XAG	+0.0104%	4h	65.650	−0.031%	$5.7M	$9.2M	—	as long as short
Phoenix SILVER	+0.0110%	1h	65.406	−0.402%	$55K	$13K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0118%	1h	65.557	−0.172%	$174.4M	$93.6M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.683	+0.020%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0130%	4h	65.600	−0.107%	$121.2M	$169.0M	1000x	as long as short
Binance XAGUSDT	+0.0133%	4h	65.610	−0.091%	$193.3M	$851.6M	100x	as long as short
Aster XAGUSDT	+0.0133%	4h	65.620	−0.076%	$2.7M	$1.1M	100x	as long as short
edgeX XAGUSDC	+0.0143%	4h	65.456	−0.325%	$667K	$314K	30x	as long as short
Nado XAG-PERP	+0.0171%	1h	65.680	+0.015%	$1.2M	$3.7M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0182%	4h	65.613	−0.087%	$396K	$1.5M	25x	as long as short
Bybit XAGUSDT	+0.0192%	4h	65.610	−0.091%	$30.4M	$47.3M	150x	as long as short
Lighter XAG	+0.0192%	1h	65.658	−0.018%	$5.1M	$11.9M	25x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.703	+0.050%	$1.2M	$4.9M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.670	0.000%	$77K	$411K	20x	as long as short
Aftermath Perps XAGUSD	+0.0216%	1h	65.518	−0.231%	$79K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	65.610	−0.091%	$28.0M	$84.2M	50x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	65.660	−0.016%	$21K	$12K	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	65.600	−0.107%	$23.2M	$51.8M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0266% / S −0.0233%	1h	65.665	−0.008%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0276%	1h	65.692	+0.034%	$44K	$74K	10x	as long as short
BloFin XAG-USDT	+0.0372%	4h	65.700	+0.046%	$2.7M	$762K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0771%	1h	65.670	0.000%	$1.0M	$939K	25x	as long as short