Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.016%

Price spread now: Phoenix against SunX−0.033%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SunX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.033% cheaper against SunX than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 3.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.440	0	get 0.0000% / 4h	38m 57s	$2K	$3.1M	20x
Short	Phoenix SILVER	66.418	0.0036	get 0.0005% / 1h	38m 57s	$56K	$26K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.033%Rate

Funding earned: $7.59
Price spread: −0.033% → 0.000%: −$3.31
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$10.72
Costs to cover: 0.150%
Break-even: 16.9 days

Slippage unknown: SunX: live order book, 9 min ago; Phoenix: no order-book sample. Net counts fees only.

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, 9 min ago	29.34 bp	33.3 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	66.370	−0.106%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.420	−0.030%	$25.9M	$33.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.400	−0.060%	$147.1M	$170.3M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.440	long leg	$2K	$3.1M	20x
HTX XAG-USDT	0.0000%	4h	66.470	+0.045%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.440	0.000%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.361	−0.120%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.401	−0.059%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.406	−0.051%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.342	−0.147%	$5.5M	$12.3M	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	−0.060%	$11K	$94K	52x	as long as short
Phoenix SILVERshort	+0.0036%	1h	66.418	−0.033%	$56K	$26K	25x
StandX XAG-USD	+0.0040%	1h	66.410	−0.045%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.872	+0.650%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.399	−0.062%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.352	−0.132%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.360	−0.120%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.390	−0.075%	$593K	$21.2M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.430	−0.015%	$124K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0067%	4h	66.440	0.000%	$2.6M	$650K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0070%	1h	66.380	−0.090%	$165.4M	$86.8M	25x	as long as short
Variational Omni XAG	+0.0090%	4h	66.457	+0.025%	$5.6M	$10.1M	—	as long as short
Aster XAGUSDT	+0.0093%	4h	66.410	−0.045%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.384	−0.084%	$475K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.380	−0.090%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.410	−0.045%	$126K	$26K	50x	as long as short
MEXC SILVER_USDT	+0.0102%	4h	66.390	−0.075%	$114.5M	$152.9M	1000x	as long as short
Paradex XAG-USD-PERP	+0.0103%	8h	66.419	−0.031%	$30K	$1K	5x	as long as short
Binance XAGUSDT	+0.0104%	4h	66.410	−0.045%	$191.7M	$721.9M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.424	−0.025%	$48K	—	10x	as long as short
Lighter XAG	+0.0112%	1h	66.402	−0.058%	$5.2M	$10.3M	25x	as long as short
edgeX XAGUSDC	+0.0114%	4h	66.457	+0.025%	$674K	$314K	30x	as long as short
Bitget XAGUSDT	+0.0122%	4h	66.420	−0.030%	$24.2M	$47.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0150%	1h	66.414	−0.039%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0158%	4h	66.470	+0.045%	$395K	$1.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.420	−0.030%	$1.9M	$848K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.410	−0.045%	$27.6M	$66.1M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.436	−0.006%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0246%	1h	66.432	−0.012%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0253%	1h	66.374	−0.100%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.435	−0.008%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	66.409	−0.046%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.410	−0.045%	$50K	$360K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.400	−0.060%	$767K	$566K	25x	as long as short