XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0149%/8h= −16.3% APRnext payment −$0.74 per $10,000 · paid last 24h −0.020%

Price spread now: Phemex against Bybit0.000%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 3 days (all we have)+0.090%+$9 · spread now 0.000%, 7d avg +0.031%

Together, before fees+0.051%+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phemex is 0.031% cheaper against Bybit than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.031%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.370	0.0149	pay 0.0074% / 4h	1h 54m	$26.7M	$36.2M	150x
Short	Phemex XAGUSDT	66.370	0	get 0.0000% / 4h	1h 54m	$1.5M	$250K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$31.28
Price spread: 0.000% → +0.031%: −$3.15
Slippage, 4 orders: −$12.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$69.45
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Phemex: live order book, 4 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 Bybit live order book, 5 min ago	0.75 bp	6.3 bp −$6	10.0 bp −$100	18.6 bp −$1,865	57.0 bp −$28.5K
Sell Phemex live order book, 4 min ago	3.01 bp	11.9 bp −$12	15.2 bp −$152	doesn't fit	doesn't fit

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	66.350	−0.030%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.370	0.000%	$152.3M	$161.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.370	0.000%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.420	+0.075%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.370	0.000%	$1.5M	$250K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.311	−0.089%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.341	−0.044%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.310	−0.090%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.045%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.370	0.000%	$798K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0042%	1h	66.260	−0.166%	$5.7M	$9.7M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.818	+0.675%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.307	−0.095%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.347	−0.035%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.306	−0.096%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.360	−0.015%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.352	−0.027%	$544K	$24.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.343	−0.041%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	−0.060%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0102%	1h	66.322	−0.072%	$166.0M	$74.7M	25x	as long as short
Paradex XAG-USD-PERP	+0.0141%	8h	66.391	+0.031%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0142%	4h	66.383	+0.019%	$2.7M	$943K	100x	as long as short
Bybit XAGUSDTlong	+0.0149%	4h	66.370	long leg	$26.7M	$36.2M	150x
Lighter XAG	+0.0168%	1h	66.350	−0.030%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.368	−0.003%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.354	−0.024%	$5.5M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.380	+0.015%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.360	−0.015%	$111.6M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	−0.030%	$1.9M	$973K	20x	as long as short
Binance XAGUSDT	+0.0194%	4h	66.360	−0.015%	$192.2M	$706.9M	100x	as long as short
edgeX XAGUSDC	+0.0207%	4h	66.410	+0.060%	$674K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.360	−0.015%	$27.9M	$65.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.309	−0.091%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0233%	1h	66.334	−0.054%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0247%	1h	66.313	−0.086%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.360	−0.015%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.410	+0.060%	$399K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.381	+0.017%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0329% / S −0.0339%	1h	66.385	+0.023%	$103K	—	111x	as long as short
Hotstuff SILVER-PERP	+0.0344%	1h	66.376	+0.009%	$35K	$21K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.370	0.000%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.336	−0.051%	$765K	$478K	25x	as long as short