Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0102%/8h= −11.2% APRpaid last 24h +0.002%

Price spread now: ApeX Omni against Variational Omni−0.110%7-day average −0.012% · you buy dearer than you sell

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

Long on Variational Omni Short on ApeX Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now −0.110%, 7d avg −0.012%

Together, before fees+0.155%+ Points / potential airdropVariational Omni: Active · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and ApeX Omni is 0.098% cheaper against Variational Omni than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.012%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.073%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.133	0.0202	pay 0.0101% / 4h	36m 45s	$5.6M	$9.7M	—
Short	ApeX Omni XAGUSDT	66.060	0.0100	get 0.0013% / 1h	36m 45s	$113K	$30K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

ApeX Omni against Variational Omni. 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 Variational OmnibpFee ApeX OmnibpOrdersPrice spread, now −0.110%Rate

Funding earned: −$21.51
Price spread: −0.110% → −0.012%: −$9.85
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee ApeX Omni: 5 bp × 2 orders: −$10
Net: −$41.36
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; ApeX Omni: live order book, 19 min ago. 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 Variational Omni RFQ quote, 2 min ago	2.56 bp	doesn't fit	2.9 bp −$29	doesn't fit	doesn't fit
Sell ApeX Omni live order book, 19 min ago	9.08 bp	16.3 bp −$16	48.6 bp −$486	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	66.085	−0.072%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.160	+0.041%	$150.2M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.170	+0.056%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.150	+0.026%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.160	+0.041%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.060	−0.109%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.128	−0.007%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.079	−0.082%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.404%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.150	+0.026%	$796K	$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	66.560	+0.646%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.094	−0.059%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.060	−0.110%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.010	−0.186%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.120	−0.019%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.074	−0.089%	$56K	$26K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.125	−0.012%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERP	+0.0068%	24h	66.097	−0.054%	$515K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.078	−0.083%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	−0.034%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTshort	+0.0100%	1h	66.060	−0.110%	$113K	$30K	50x
tradeXYZ xyz:SILVER	+0.0133%	1h	66.112	−0.031%	$165.5M	$73.8M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.130	−0.004%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0147%	4h	66.157	+0.037%	$2.7M	$877K	100x	as long as short
Paradex XAG-USD-PERP	+0.0152%	8h	66.141	+0.013%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0156%	4h	66.150	+0.026%	$27.0M	$36.1M	150x	as long as short
Nado XAG-PERP	+0.0191%	1h	66.101	−0.047%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.124	−0.014%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.127	−0.009%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	−0.004%	$1.8M	$999K	20x	as long as short
Variational Omni XAGlong	+0.0202%	4h	66.133	long leg	$5.6M	$9.7M	—
Binance XAGUSDT	+0.0218%	4h	66.146	+0.020%	$192.9M	$700.9M	100x	as long as short
MEXC SILVER_USDT	+0.0218%	4h	66.140	+0.011%	$109.1M	$152.4M	1000x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.109	−0.035%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.140	+0.011%	$27.8M	$65.5M	50x	as long as short
edgeX XAGUSDC	+0.0231%	4h	66.127	−0.009%	$671K	$311K	30x	as long as short
BloFin XAG-USDT	+0.0251%	4h	66.160	+0.041%	$2.6M	$554K	100x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.160	+0.041%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.144	+0.017%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0312%	1h	66.133	0.000%	$45K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.110	−0.034%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-P	+0.0360%	1h	66.117	−0.024%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0374% / S −0.0408%	1h	66.135	+0.003%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.104	−0.044%	$912K	$676K	25x	as long as short