Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Phemex against SunX+0.030%7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$870.873% of the position

Long on SunX Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 3 days (all we have)+0.006%+$1 · spread now +0.030%, 7d avg +0.024%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.800	0	get 0.0000% / 4h	3h 47m	$2K	$3.0M	20x
Short	Phemex XAGUSDT	66.820	0	get 0.0000% / 4h	3h 47m	$1.5M	$252K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.030%Rate

Funding earned: $0
Price spread: +0.030% → +0.024%: $0.59
Slippage, 4 orders: −$67.25
Fee SunX: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$86.66
Costs to cover: 0.873%
Break-even: never at this rate

Slippage from SunX: live order book, 10 min ago; Phemex: live order book, 1 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, 10 min ago	29.20 bp	33.2 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Phemex live order book, 1 min ago	2.24 bp	12.6 bp −$13	17.1 bp −$171	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
dYdX XAG-USD	0.0000%	1h	66.743	−0.085%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.830	+0.045%	$26.2M	$35.3M	150x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.800	long leg	$2K	$3.0M	20x
HTX XAG-USDT	0.0000%	4h	66.810	+0.015%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.820	+0.030%	$1.5M	$252K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.735	−0.097%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.759	−0.061%	$36K	$21K	20x	as long as short
Gate XAG_USDT	+0.0020%	4h	66.810	+0.015%	$155.7M	$166.1M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.794	−0.009%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.735	−0.097%	$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	−0.599%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.780	−0.030%	$804K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.245	+0.666%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.747	−0.079%	$57K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.778	−0.033%	$166.2M	$86.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.759	−0.061%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.734	−0.099%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.700	−0.150%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.780	−0.030%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.745	−0.082%	$570K	$21.9M	8.1x	as long as short
BloFin XAG-USDT	+0.0060%	4h	66.810	+0.015%	$2.6M	$692K	100x	as long as short
Lighter XAG	+0.0072%	1h	66.801	+0.001%	$5.4M	$10.4M	25x	as long as short
Paradex XAG-USD-PERP	+0.0088%	8h	66.783	−0.026%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0091%	4h	66.775	−0.038%	$5.7M	$9.9M	—	as long as short
Aster XAGUSDT	+0.0100%	4h	66.780	−0.030%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.740	−0.089%	$476K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.760	−0.060%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.770	−0.045%	$127K	$26K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.783	−0.025%	$48K	—	10x	as long as short
Binance XAGUSDT	+0.0105%	4h	66.810	+0.015%	$191.9M	$725.2M	100x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	66.810	+0.015%	$116.9M	$155.7M	1000x	as long as short
edgeX XAGUSDC	+0.0114%	4h	66.841	+0.062%	$678K	$315K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0118%	4h	66.810	+0.015%	$397K	$1.5M	25x	as long as short
Nado XAG-PERP	+0.0133%	1h	66.748	−0.078%	$1.3M	$6.5M	10x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.798	−0.003%	$1.3M	$4.2M	20x	as long as short
Bitget XAGUSDT	+0.0164%	4h	66.810	+0.015%	$24.8M	$48.7M	100x	as long as short
Aftermath Perps XAGUSD	+0.0175%	1h	66.775	−0.037%	$80K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0182%	1h	66.802	+0.003%	$46K	$75K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.780	−0.030%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.810	+0.015%	$28.2M	$67.5M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0200%	1h	66.770	−0.045%	$51K	$344K	20x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.751	−0.074%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.795	−0.007%	$104K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0487%	1h	66.758	−0.064%	$766K	$589K	25x	as long as short