Funding you earn now, next payment 01:00 UTC−0.0194%/8h= −21.2% APRpaid last 24h −0.050%
Price spread now: Phoenix against Bitget−0.197%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.016%+$2 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Phoenix is 0.197% cheaper against Bitget than usual: you would sell low and buy high (−$20 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.016% in total (about 0.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bitget XAGUSDT | 66.440 | 0.0242 | pay 0.0121% / 4h | 2h 22m | $23.9M | $46.0M | 100x |
| Short | Phoenix SILVER | 66.309 | 0.0048 | get 0.0006% / 1h | 22m 50s | $56K | $26K | 25x |
Bitget XAGUSDT
Phoenix SILVERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$40.71
- Price spread: −0.197% → 0.000%
- −$19.72
- Slippage, 4 orders
- no order book: not counted
- Fee Bitget: 6 bp × 2 orders
- −$12
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$79.43
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Bitget: live order book, 1 min ago; Phoenix: 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 Bitget live order book, 1 min ago | 0.75 bp | 6.8 bp −$7 | 8.7 bp −$87 | 18.8 bp −$1,880 | 52.4 bp −$26.2K |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 43 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 | 66.308 | −0.199% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.440 | 0.000% | $152.8M | $163.8M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.390 | −0.075% | $2K | $2.8M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.440 | 0.000% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.440 | 0.000% | $1.5M | $250K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.326 | −0.172% | $120K | — | 250x | as long as short |
| Hotstuff SILVER-PERP | +0.0008% | 1h | 66.335 | −0.158% | $35K | $21K | 20x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.405 | −0.053% | $4.8M | $9.5M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.361 | −0.119% | $5.4M | $12.1M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | −0.060% | $11K | $94K | 52x | as long as short |
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Hotstuff SILVER-PERP
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERPShow all 43 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX XAG-USD | +0.0040% | 1h | 66.400 | −0.060% | $799K | $2.9M | 40x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.824 | +0.578% | — | — | 25x | as long as short |
| Phoenix SILVERshort | +0.0048% | 1h | 66.309 | −0.197% | $56K | $26K | 25x | |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.362 | −0.117% | $3.9M | $669K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.325 | −0.173% | $3K | $6K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 66.270 | −0.256% | $5.7M | $9.5M | 25x | as long as short |
| QFEX SILVER-USD | +0.0054% | 1h | 66.370 | −0.105% | $115K | $2.7M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0061% | 24h | 66.354 | −0.129% | $568K | $23.4M | 8.1x | as long as short |
| RISEx XAG/USDC | +0.0079% | 1h | 66.385 | −0.082% | $1.2M | $4.3M | 20x | as long as short |
| tradeXYZ xyz:SILVER | +0.0100% | 1h | 66.381 | −0.089% | $165.7M | $75.8M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.321 | −0.179% | $472K | $607K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.390 | −0.075% | $24.6M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.290 | −0.226% | $126K | $23K | 50x | as long as short |
| Bybit XAGUSDT | +0.0120% | 4h | 66.450 | +0.015% | $26.6M | $36.4M | 150x | as long as short |
| Aster XAGUSDT | +0.0127% | 4h | 66.430 | −0.015% | $2.8M | $944K | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0130% | 8h | 66.370 | −0.105% | $30K | $1K | 5x | as long as short |
| Variational Omni XAG | +0.0150% | 4h | 66.344 | −0.144% | $5.5M | $9.8M | — | as long as short |
| Aevo XAG-PERP | +0.0160% | 1h | 66.395 | −0.068% | $48K | — | 10x | as long as short |
| MEXC SILVER_USDT | +0.0168% | 4h | 66.420 | −0.030% | $102.7M | $158.5M | 1000x | as long as short |
| Binance XAGUSDT | +0.0171% | 4h | 66.440 | 0.000% | $192.7M | $708.0M | 100x | as long as short |
| edgeX XAGUSDC | +0.0183% | 4h | 66.379 | −0.092% | $673K | $313K | 30x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0184% | 1h | 66.350 | −0.135% | $1.9M | $969K | 20x | as long as short |
| Lighter XAG | +0.0192% | 1h | 66.413 | −0.041% | $5.3M | $10.6M | 25x | as long as short |
| OKX XAG-USDT-SWAP | +0.0204% | 8h | 66.440 | 0.000% | $28.0M | $65.8M | 50x | as long as short |
| Nado XAG-PERP | +0.0225% | 1h | 66.325 | −0.174% | $1.3M | $6.4M | 10x | as long as short |
| Aftermath Perps XAGUSD | +0.0227% | 1h | 66.367 | −0.110% | $80K | $38K | 10x | as long as short |
| Bitget XAGUSDTlong | +0.0242% | 4h | 66.440 | long leg | $23.9M | $46.0M | 100x | |
| Hibachi XAG/USDT-P | +0.0248% | 1h | 66.322 | −0.178% | $20K | $22K | 10x | as long as short |
| GRVT XAG_USDT_Perp | +0.0260% | 4h | 66.388 | −0.078% | $397K | $1.5M | 25x | as long as short |
| Bullet SILVER-USD | +0.0285% | 1h | 66.403 | −0.056% | $46K | $76K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0291% / S −0.0281% | 1h | 66.405 | −0.053% | $103K | — | 111x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0353% | 1h | 66.380 | −0.090% | $50K | $325K | 20x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0462% | 1h | 66.361 | −0.119% | $765K | $478K | 25x | as long as short |
StandX XAG-USD
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
QFEX SILVER-USD
Kalshi KXSILVERPERP
RISEx XAG/USDC
tradeXYZ xyz:SILVER
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Bybit XAGUSDT
Aster XAGUSDT
Paradex XAG-USD-PERP
Variational Omni XAG
Aevo XAG-PERP
MEXC SILVER_USDT
Binance XAGUSDT
edgeX XAGUSDC
Coinbase International SILVER-PERP-INTX
Lighter XAG
OKX XAG-USDT-SWAP
Nado XAG-PERP
Aftermath Perps XAGUSD
Hibachi XAG/USDT-P
GRVT XAG_USDT_Perp
Bullet SILVER-USD
GMX SILVER/USD [ETH-USDC]
Deribit SILVER_USDC-PERPETUAL
Kraken Futures PF_XAGUSD