Funding arb · Price arb /

XAG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0006%/8h= −0.7% APRpaid last 24h +0.004%

Price spread now: Pacifica against Variational Omni+0.086%7-day average −0.066% · you sell dearer than you buy

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

Long on Variational Omni Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.041%−$4 on $10k

Price spread, last 4 days (all we have)−0.404%−$40 · spread now +0.086%, 7d avg −0.066%

Together, before fees−0.445%+ Points / potential airdropVariational Omni: Active · Pacifica: Active · farm board−$45 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Pacifica is 0.152% dearer against Variational Omni than usual: you sell high and buy low, +$15 on $10k if it goes back to its 7-day average of −0.066%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.526	0.0106	pay 0.0053% / 4h	18m 30s	$5.6M	$10.1M	—
Short	Pacifica XAG	66.583	0.0100	get 0.0013% / 1h	18m 30s	$481K	$618K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.086%Rate

Funding earned: −$1.33
Price spread: +0.086% → −0.066%: $15.21
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $5.88
Costs to cover: 0.080%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Pacifica: live order book, 60 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, 1 min ago	2.56 bp	doesn't fit	2.6 bp −$26	5.8 bp −$576	doesn't fit
Sell Pacifica live order book, 60 min ago	0.08 bp	doesn't fit	doesn't fit	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	66.560	+0.051%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.700	+0.262%	$26.2M	$34.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.680	+0.231%	$154.7M	$173.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.590	+0.096%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.640	+0.171%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.600	+0.111%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.610	+0.126%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.625	+0.148%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.583	+0.086%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.189%	$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	66.485	−0.062%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.530	+0.006%	$796K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.085	+0.840%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.611	+0.128%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.634	+0.162%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.520	−0.009%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.570	+0.066%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.541	+0.023%	$582K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.660	+0.201%	$125K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0068%	4h	66.550	+0.036%	$2.6M	$651K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0073%	1h	66.631	+0.158%	$166.1M	$86.9M	25x	as long as short
Pacifica XAGshort	+0.0100%	1h	66.583	+0.086%	$481K	$618K	10x
KuCoin XAGUSDTM	+0.0100%	4h	66.620	+0.141%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.450	−0.114%	$126K	$26K	50x	as long as short
Variational Omni XAGlong	+0.0106%	4h	66.526	long leg	$5.6M	$10.1M	—
Paradex XAG-USD-PERP	+0.0107%	8h	66.633	+0.161%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0114%	4h	66.664	+0.208%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.629	+0.155%	$5.2M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.580	+0.081%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0122%	4h	66.478	−0.073%	$674K	$314K	30x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.650	+0.186%	$115.2M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0124%	4h	66.670	+0.216%	$192.9M	$724.3M	100x	as long as short
Bitget XAGUSDT	+0.0152%	4h	66.670	+0.216%	$24.5M	$48.4M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.410	−0.174%	$1.9M	$848K	20x	as long as short
Aftermath Perps XAGUSD	+0.0165%	1h	66.476	−0.075%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0178%	4h	66.490	−0.055%	$390K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.690	+0.246%	$28.0M	$67.0M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.657	+0.196%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0254%	1h	66.667	+0.211%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0255%	1h	66.595	+0.104%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.675	+0.224%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.521	−0.007%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.570	+0.066%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.543	+0.025%	$763K	$586K	25x	as long as short