Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.022%

Price spread now: GMX against BloFin+0.038%51s7-day average +0.002% · you sell dearer than you buy

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

Long on BloFin Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.263%+$26 on $10k

Price spread, last 3 days (all we have)−0.030%−$3 · spread now +0.038%, 7d avg +0.002%

Together, before fees+0.233%+$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and GMX is 0.036% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.002%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAG-USDT	66.450	0.0111	pay 0.0056% / 4h	46m 07s	$2.6M	$650K	100x
Short	GMX SILVER/USD [ETH-USDC]	66.475	L +0.0258% / S −0.0231%	get 0.0029% / 1h	46m 07s	$103K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BloFin. 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 BloFinbpFee GMXbpOrdersPrice spread, now +0.038%Rate

Funding earned: $25.13
Price spread: +0.038% → +0.002%: $3.55
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $4.68
Costs to cover: 0.240%
Break-even: 5.7 days

Slippage unknown: BloFin: live order book, 2 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 BloFin live order book, 2 min ago	0.75 bp	6.8 bp −$7	6.8 bp −$68	8.1 bp −$806	11.8 bp −$5,907
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
dYdX XAG-USD	0.0000%	1h	66.428	−0.032%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.470	+0.030%	$25.8M	$33.3M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.470	+0.030%	$147.4M	$169.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.480	+0.045%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.480	+0.045%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.480	+0.045%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.410	−0.060%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.450	0.000%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.409	−0.062%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.075%	$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	66.397	−0.080%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.400	−0.075%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.912	+0.695%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.436	−0.021%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.446	−0.006%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.408	−0.063%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.350	−0.150%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.415	−0.053%	$592K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.470	+0.030%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	66.426	−0.036%	$165.5M	$87.5M	25x	as long as short
Variational Omni XAG	+0.0086%	4h	66.457	+0.010%	$5.6M	$10.3M	—	as long as short
Aster XAGUSDT	+0.0088%	4h	66.470	+0.030%	$2.8M	$1.1M	100x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.460	+0.015%	$114.2M	$152.8M	1000x	as long as short
Pacifica XAG	+0.0100%	1h	66.405	−0.068%	$475K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.430	−0.030%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.400	−0.075%	$126K	$26K	50x	as long as short
Binance XAGUSDT	+0.0100%	4h	66.463	+0.020%	$191.6M	$723.5M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.463	+0.020%	$48K	—	10x	as long as short
Paradex XAG-USD-PERP	+0.0105%	8h	66.455	+0.007%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0110%	4h	66.444	−0.009%	$674K	$315K	30x	as long as short
BloFin XAG-USDTlong	+0.0111%	4h	66.450	long leg	$2.6M	$650K	100x
Lighter XAG	+0.0112%	1h	66.454	+0.006%	$5.2M	$10.3M	25x	as long as short
Bitget XAGUSDT	+0.0114%	4h	66.470	+0.030%	$24.2M	$48.0M	100x	as long as short
Aftermath Perps XAGUSD	+0.0147%	1h	66.421	−0.043%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0152%	4h	66.460	+0.015%	$395K	$1.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.460	+0.015%	$1.9M	$860K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0188%	8h	66.470	+0.030%	$27.6M	$66.3M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.471	+0.032%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0245%	1h	66.486	+0.055%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.425	−0.038%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0258% / S −0.0231%	1h	66.475	+0.038%	$103K	—	111x
Hibachi XAG/USDT-P	+0.0288%	1h	66.400	−0.075%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.450	0.000%	$51K	$360K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.436	−0.022%	$768K	$569K	25x	as long as short