Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0163%/8h= +17.8% APRpaid last 24h +0.039%

Price spread now: GMX against Binance+0.008%7-day average +0.014% · you sell dearer than you buy

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.132%+$13 on $10k

Price spread, last 4 days (all we have)−0.023%−$2 · spread now +0.008%, 7d avg +0.014%

Together, before fees+0.110%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	65.140	0.0033	pay 0.0017% / 4h	18m 50s	$191.4M	$757.5M	100x
Short	GMX SILVER/USD [ETH-USDC]	65.145	L +0.0238% / S −0.0196%	get 0.0024% / 1h	18m 50s	$92K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now +0.008%Rate

Funding earned: $34.13
Price spread: +0.008% → +0.014%: −$0.58
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $11.55
Costs to cover: 0.220%
Break-even: 4.6 days

Slippage unknown: Binance: live order book, 10 min ago; GMX: 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 Binance live order book, 10 min ago	0.77 bp	5.8 bp −$6	5.8 bp −$58	7.4 bp −$739	20.3 bp −$10.2K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Hotstuff SILVER-PERP	−0.0048%	1h	65.117	−0.035%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0032%	1h	65.020	−0.184%	$5.6M	$9.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.070	−0.107%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.150	+0.015%	$27.7M	$39.3M	150x	as long as short
Variational Omni XAG	0.0000%	4h	65.124	−0.025%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.120	−0.031%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.160	+0.031%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.150	+0.015%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.070	−0.108%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.140	0.000%	$140.5M	$181.0M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SILVER_USDT	+0.0030%	4h	65.120	−0.031%	$126.1M	$160.7M	1000x	as long as short
Lighter RH XAG	+0.0032%	1h	65.121	−0.030%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.068	−0.111%	$5.0M	$11.7M	10x	as long as short
Binance XAGUSDTlong	+0.0033%	4h	65.140	long leg	$191.4M	$757.5M	100x
edgeX XAGUSDC	+0.0033%	4h	65.105	−0.054%	$663K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.934%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0034%	4h	65.120	−0.031%	$2.7M	$971K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.120	−0.031%	$783K	$2.9M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.120	−0.031%	$161K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.529	+0.597%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.120	−0.031%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.095	−0.069%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.069	−0.109%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.111	−0.044%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.070	−0.107%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0065%	1h	65.106	−0.052%	$173.0M	$84.5M	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.097	−0.066%	$476K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.261%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.063	−0.118%	$463K	$600K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.100	−0.061%	$25.2M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.080	−0.092%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.138	−0.003%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDT	+0.0133%	4h	65.140	0.000%	$2.7M	$625K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0138%	4h	65.132	−0.013%	$394K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0156%	4h	65.140	0.000%	$23.2M	$45.0M	100x	as long as short
Nado XAG-PERP	+0.0166%	1h	65.095	−0.069%	$1.2M	$4.7M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0170%	8h	65.150	+0.015%	$28.4M	$70.5M	50x	as long as short
Lighter XAG	+0.0176%	1h	65.136	−0.007%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0194%	1h	65.093	−0.072%	$78K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.071	−0.106%	$20K	$17K	10x	as long as short
Bullet SILVER-USD	+0.0233%	1h	65.134	−0.009%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0238% / S −0.0196%	1h	65.145	+0.008%	$92K	—	111x
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.110	−0.046%	$1.0M	$869K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0365%	1h	65.120	−0.031%	$65K	$394K	20x	as long as short