Funding you earn now, next payment 12:00 UTC−0.0210%/8h= −23.0% APRnext payment −$1.05 per $10,000 · paid last 24h −0.061%
Price spread now: Phemex against Bitget+0.031%56s7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$102as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$900.899% of the position
Funding, last 7 days−0.120%−$12 on $10k
+Price spread, last 4 days (all we have)+0.056%+$6 · spread now +0.031%, 7d avg +0.032%
=The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. The two prices were read 56 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.05 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget XAGUSDT | 65.510 | 0.0210 | pay 0.0105% / 4h | 48m 16s | $23.3M | $53.9M | 100x |
| Short | Phemex XAGUSDT | 65.530 | 0 | get 0.0000% / 4h | 48m 16s | $1.5M | $257K | 100x |
Bitget XAGUSDT
Phemex XAGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Bitget. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$44.1
- Price spread: +0.031% → +0.032%
- −$0.1
- Slippage, 4 orders
- −$65.88
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$134.08
- Costs to cover
- 0.899%
- Break-even
- never at this rate
Slippage from Bitget: live order book, 4 min ago; Phemex: 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 Bitget live order book, 4 min ago | 0.76 bp | 6.8 bp −$7 | 9.4 bp −$94 | 16.8 bp −$1,683 | 47.9 bp −$23.9K |
| Sell Phemex live order book, 3 min ago | 0.76 bp | 36.4 bp −$36 | doesn't fit | doesn't fit | doesn't fit |
XAG on 44 exchanges
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 | 65.488 | −0.033% | $13K | $8K | 5x | as long as short |
| RISEx XAG/USDC | 0.0000% | 1h | 65.510 | 0.000% | $1.3M | $5.5M | 20x | as long as short |
| Hotstuff SILVER-PERP | 0.0000% | 1h | 65.599 | +0.136% | $39K | $26K | 20x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 65.500 | −0.015% | $135.9M | $200.2M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.520 | +0.015% | $2K | $2.4M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 65.530 | +0.031% | $1.1M | $1.3M | 75x | as long as short |
| Phemex XAGUSDTshort | 0.0000% | 4h | 65.530 | +0.031% | $1.5M | $257K | 100x | |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.445 | −0.098% | $118K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 65.559 | +0.074% | $4.6M | $9.6M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 65.447 | −0.096% | $5.1M | $12.1M | 10x | as long as short |
dYdX XAG-USD
RISEx XAG/USDC
Hotstuff SILVER-PERP
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
gTrade (Gains Network) XAG/USD
Lighter RH XAG
Extended XAG-USDShow all 44 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective XAG/USDC PERP | +0.0033% | 1h | 64.602 | −1.386% | $11K | $240 | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 65.650 | +0.214% | $790K | $3.0M | 40x | as long as short |
| QFEX SILVER-USD | +0.0042% | 1h | 65.490 | −0.031% | $445K | $1.4M | 20x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 65.934 | +0.647% | — | — | 25x | as long as short |
| Variational Omni XAG | +0.0048% | 4h | 65.588 | +0.118% | $5.5M | $9.0M | — | as long as short |
| Bybit XAGUSDT | +0.0048% | 4h | 65.530 | +0.031% | $30.3M | $48.7M | 150x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.466 | −0.067% | $3.9M | $1.4M | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.446 | −0.098% | $3K | $6K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 65.410 | −0.153% | $5.7M | $11.0M | 25x | as long as short |
| Paradex XAG-USD-PERP | +0.0052% | 8h | 65.536 | +0.039% | $29K | — | 5x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0055% | 1h | 65.490 | −0.031% | $77K | $407K | 20x | as long as short |
| Lighter XAG | +0.0056% | 1h | 65.545 | +0.053% | $5.3M | $11.9M | 25x | as long as short |
| Aster XAGUSDT | +0.0070% | 4h | 65.490 | −0.031% | $2.7M | $1.2M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0072% | 4h | 65.470 | −0.061% | $115.8M | $163.2M | 1000x | as long as short |
| Binance XAGUSDT | +0.0072% | 4h | 65.509 | −0.001% | $190.2M | $868.6M | 100x | as long as short |
| Aevo XAG-PERP | +0.0080% | 1h | 65.530 | +0.030% | $47K | — | 10x | as long as short |
| edgeX XAGUSDC | +0.0086% | 4h | 65.623 | +0.172% | $669K | $315K | 30x | as long as short |
| GRVT XAG_USDT_Perp | +0.0092% | 4h | 65.606 | +0.146% | $390K | $1.6M | 25x | as long as short |
| tradeXYZ xyz:SILVER | +0.0100% | 1h | 65.463 | −0.072% | $175.3M | $87.6M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 65.512 | +0.003% | $462K | $518K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.480 | −0.046% | $25.3M | $4.4M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 65.570 | +0.092% | $112K | $19K | 50x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0104% | 1h | 65.460 | −0.076% | $1.6M | $2.0M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0108% | 24h | 65.545 | +0.053% | $779K | $40.2M | 8.1x | as long as short |
| Nado XAG-PERP | +0.0127% | 1h | 65.438 | −0.110% | $1.2M | $3.4M | 10x | as long as short |
| Phoenix SILVER | +0.0134% | 1h | 65.580 | +0.107% | $55K | $15K | 25x | as long as short |
| OKX XAG-USDT-SWAP | +0.0169% | 8h | 65.520 | +0.015% | $27.6M | $87.5M | 50x | as long as short |
| Bitget XAGUSDTlong | +0.0210% | 4h | 65.510 | long leg | $23.3M | $53.9M | 100x | |
| Bullet SILVER-USD | +0.0221% | 1h | 65.497 | −0.020% | $44K | $73K | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0224% | 1h | 65.613 | +0.158% | $21K | $12K | 10x | as long as short |
| Aftermath Perps XAGUSD | +0.0226% | 1h | 65.550 | +0.062% | $79K | $37K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0283% / S −0.0255% | 1h | 65.505 | −0.008% | $93K | — | 111x | as long as short |
| BloFin XAG-USDT | +0.0299% | 4h | 65.520 | +0.015% | $2.7M | $783K | 100x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0541% | 1h | 65.473 | −0.057% | $1.0M | $948K | 25x | as long as short |
Injective XAG/USDC PERP
StandX XAG-USD
QFEX SILVER-USD
Vest SI-PERP
Variational Omni XAG
Bybit XAGUSDT
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
Paradex XAG-USD-PERP
Deribit SILVER_USDC-PERPETUAL
Lighter XAG
Aster XAGUSDT
MEXC SILVER_USDT
Binance XAGUSDT
Aevo XAG-PERP
edgeX XAGUSDC
GRVT XAG_USDT_Perp
tradeXYZ xyz:SILVER
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Coinbase International SILVER-PERP-INTX
Kalshi KXSILVERPERP
Nado XAG-PERP
Phoenix SILVER
OKX XAG-USDT-SWAP
Bullet SILVER-USD
Hibachi XAG/USDT-P
Aftermath Perps XAGUSD
GMX SILVER/USD [ETH-USDC]
BloFin XAG-USDT
Kraken Futures PF_XAGUSD