Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against SunX−0.119%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$780.781% of the position

Long on SunX Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now −0.119%, 7d avg −0.072%

Together, before fees+0.106%+$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.047% cheaper against SunX than usual: you would sell low and buy high (spread −0.119% now, against its 7-day average of −0.072%). If the spread goes back, that is −$5 on $10k: about 3.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	65.610	0	get 0.0000% / 4h	2h 10m	$2K	$2.6M	20x
Short	Polymarket Perps SILVER-USD	65.532	0.0050	get 0.0006% / 1h	10m 51s	$3.9M	$710K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.119%Rate

Funding earned: $10.5
Price spread: −0.119% → −0.072%: −$4.72
Slippage, 4 orders: −$62.14
Fee SunX: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$72.36
Costs to cover: 0.781%
Break-even: 55.2 days

Slippage from SunX: live order book, 7 min ago; Polymarket Perps: live order book, 3 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, 7 min ago	29.80 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.61 bp	4.6 bp −$5	5.2 bp −$52	6.4 bp −$644	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	65.576	−0.052%	$12K	$5K	5x	as long as short
Ondo Perps XAG-USD.P	0.0000%	1h	65.470	−0.213%	$5.6M	$9.6M	25x	as long as short
SunX XAG-USDTlong	0.0000%	4h	65.610	long leg	$2K	$2.6M	20x
HTX XAG-USDT	0.0000%	4h	65.640	+0.046%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.630	+0.030%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.532	−0.119%	$118K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.580	−0.045%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.610	0.000%	$4.7M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.575	−0.054%	$5.1M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.204%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SILVER	+0.0036%	1h	65.418	−0.293%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.570	−0.061%	$789K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0042%	4h	65.640	+0.046%	$145.0M	$179.8M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.987	+0.575%	—	—	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	65.532	−0.119%	$3.9M	$710K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.567	−0.066%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.540	−0.107%	$157K	$2.8M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.362	−0.378%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0064%	8h	65.560	−0.077%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERP	+0.0076%	24h	65.561	−0.075%	$445K	$28.8M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0081%	1h	65.595	−0.023%	$171.0M	$82.6M	25x	as long as short
Aster XAGUSDT	+0.0088%	4h	65.650	+0.061%	$2.7M	$944K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.515	−0.145%	$468K	$626K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.600	−0.015%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.400	−0.320%	$112K	$23K	50x	as long as short
Variational Omni XAG	+0.0127%	4h	65.584	−0.040%	$5.5M	$9.5M	—	as long as short
Lighter XAG	+0.0128%	1h	65.617	+0.010%	$5.3M	$11.2M	25x	as long as short
Bybit XAGUSDT	+0.0129%	4h	65.650	+0.061%	$28.8M	$38.8M	150x	as long as short
Hibachi XAG/USDT-P	+0.0136%	1h	65.476	−0.205%	$20K	$19K	10x	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.598	−0.018%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0138%	4h	65.650	+0.061%	$189.3M	$743.9M	100x	as long as short
MEXC SILVER_USDT	+0.0138%	4h	65.640	+0.046%	$123.2M	$161.5M	1000x	as long as short
Nado XAG-PERP	+0.0156%	1h	65.531	−0.120%	$1.3M	$5.6M	10x	as long as short
edgeX XAGUSDC	+0.0158%	4h	65.443	−0.255%	$666K	$311K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.530	−0.122%	$1.6M	$1.3M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0204%	4h	65.430	−0.274%	$397K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0208%	1h	65.439	−0.260%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.650	+0.061%	$23.8M	$46.2M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	65.630	+0.030%	$27.9M	$70.1M	50x	as long as short
Bullet SILVER-USD	+0.0245%	1h	65.587	−0.035%	$43K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0360%	1h	65.620	+0.015%	$66K	$367K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0361%	1h	65.595	−0.023%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0379%	4h	65.610	0.000%	$2.6M	$622K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0470%	1h	65.576	−0.052%	$915K	$735K	25x	as long as short