Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h +0.014%

Price spread now: QFEX against SunX−0.030%7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$810.814% of the position

Long on SunX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.019%+$2 on $10k

Price spread, last 4 days (all we have)−0.075%−$8 · spread now −0.030%, 7d avg −0.029%

Together, before fees−0.056%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.029%, 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	SunX XAG-USDT	66.150	0	get 0.0000% / 4h	35m 58s	$2K	$2.7M	20x
Short	QFEX SILVER-USD	66.130	0.0054	get 0.0007% / 1h	35m 58s	$115K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.030%Rate

Funding earned: $11.39
Price spread: −0.030% → −0.029%: −$0.16
Slippage, 4 orders: −$63.39
Fee SunX: 4 bp × 2 orders: −$8
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$70.16
Costs to cover: 0.814%
Break-even: 50.1 days

Slippage from SunX: live order book, 11 min ago; QFEX: live order book, 12 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, 11 min ago	29.49 bp	33.5 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell QFEX live order book, 12 min ago	1.51 bp	7.9 bp −$8	8.0 bp −$80	10.1 bp −$1,008	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	66.085	−0.098%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.120	−0.045%	$150.0M	$163.2M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.150	long leg	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.140	−0.015%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.120	−0.045%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.065	−0.129%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.094	−0.085%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.063	−0.132%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.378%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.130	−0.030%	$795K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.567	+0.630%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.098	−0.079%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.044	−0.160%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.030	−0.181%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USDshort	+0.0054%	1h	66.130	−0.030%	$115K	$2.7M	20x
Phoenix SILVER	+0.0060%	1h	66.074	−0.115%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0069%	24h	66.104	−0.070%	$514K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.078	−0.109%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	−0.136%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	66.106	−0.067%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0133%	1h	66.074	−0.115%	$165.4M	$73.9M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.139	−0.016%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0147%	4h	66.128	−0.033%	$2.7M	$877K	100x	as long as short
Paradex XAG-USD-PERP	+0.0152%	8h	66.124	−0.039%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0156%	4h	66.130	−0.030%	$27.0M	$36.2M	150x	as long as short
Nado XAG-PERP	+0.0192%	1h	66.093	−0.086%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.101	−0.074%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.129	−0.032%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	−0.030%	$1.8M	$999K	20x	as long as short
Variational Omni XAG	+0.0210%	4h	66.123	−0.040%	$5.6M	$9.7M	—	as long as short
Binance XAGUSDT	+0.0218%	4h	66.110	−0.060%	$192.7M	$701.1M	100x	as long as short
MEXC SILVER_USDT	+0.0218%	4h	66.110	−0.060%	$109.2M	$152.4M	1000x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.110	−0.060%	$80K	$37K	10x	as long as short
edgeX XAGUSDC	+0.0231%	4h	66.127	−0.035%	$671K	$311K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.120	−0.045%	$27.8M	$65.4M	50x	as long as short
BloFin XAG-USDT	+0.0251%	4h	66.160	+0.015%	$2.6M	$554K	100x	as long as short
Bitget XAGUSDT	+0.0260%	4h	66.110	−0.060%	$23.8M	$45.6M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.144	−0.009%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0311%	1h	66.146	−0.006%	$45K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.110	−0.060%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	66.080	−0.106%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0375% / S −0.0409%	1h	66.135	−0.023%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.094	−0.084%	$912K	$676K	25x	as long as short