Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0209%/8h= +22.9% APRpaid last 24h +0.082%

Price spread now: Deribit against SunX0.000%7-day average −0.022% · 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−$78as in the Price arb table

costs, in and out, $10k−$810.807% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.147%+$15 on $10k

Price spread, last 4 days (all we have)−0.021%−$2 · spread now 0.000%, 7d avg −0.022%

Together, before fees+0.126%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.022% dearer against SunX than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.022%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	65.380	0	get 0.0000% / 4h	54m 47s	$2K	$2.5M	20x
Short	Deribit SILVER_USDC-PERPETUAL	65.380	0.0209	get 0.0026% / 1h	54m 47s	$66K	$386K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: $43.9
Price spread: 0.000% → −0.022%: $2.2
Slippage, 4 orders: −$65.66
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$34.56
Costs to cover: 0.807%
Break-even: 12.5 days

Slippage from SunX: live order book, 3 min ago; Deribit: live order book, 49 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 SunX live order book, 3 min ago	29.81 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 49 min ago	0.76 bp	4.3 bp −$4	6.4 bp −$64	doesn't fit	doesn't fit

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
Ondo Perps XAG-USD.P	−0.0062%	1h	65.260	−0.184%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.352	−0.044%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.390	+0.015%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDTlong	0.0000%	4h	65.380	long leg	$2K	$2.5M	20x
HTX XAG-USDT	0.0000%	4h	65.420	+0.061%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.420	+0.061%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.320	−0.091%	$118K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	65.360	−0.031%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0027%	4h	65.403	+0.035%	$5.5M	$9.1M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.376	−0.006%	$4.6M	$9.7M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.341	−0.059%	$5.1M	$11.6M	10x	as long as short
Gate XAG_USDT	+0.0032%	4h	65.410	+0.046%	$141.3M	$176.5M	100x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.560%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0039%	4h	65.398	+0.027%	$2.7M	$954K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.420	+0.061%	$787K	$2.9M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.370	−0.015%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.800	+0.642%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.350	−0.046%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.335	−0.069%	$3K	$6K	20x	as long as short
Binance XAGUSDT	+0.0053%	4h	65.380	0.000%	$191.6M	$761.7M	100x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.358	−0.034%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.380	0.000%	$117.0M	$156.0M	1000x	as long as short
Phoenix SILVER	+0.0061%	1h	65.294	−0.132%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0064%	4h	65.368	−0.018%	$665K	$312K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.382	+0.003%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.359	−0.032%	$469K	$31.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0084%	1h	65.340	−0.061%	$170.6M	$80.9M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.230	−0.229%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.323	−0.087%	$469K	$621K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.350	−0.046%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.370	−0.015%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.394	+0.022%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0145%	1h	65.349	−0.047%	$1.2M	$4.9M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0146%	4h	65.440	+0.091%	$391K	$1.6M	25x	as long as short
Lighter XAG	+0.0152%	1h	65.376	−0.006%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0160%	1h	65.354	−0.040%	$20K	$17K	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.390	+0.015%	$23.7M	$45.7M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.380	0.000%	$28.1M	$70.7M	50x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0209%	1h	65.380	0.000%	$66K	$386K	20x
Aftermath Perps XAGUSD	+0.0210%	1h	65.340	−0.061%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0216%	4h	65.380	0.000%	$2.7M	$583K	100x	as long as short
Bullet SILVER-USD	+0.0234%	1h	65.392	+0.019%	$44K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.385	+0.008%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.361	−0.029%	$1.0M	$873K	25x	as long as short