Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0332%/8h= +36.4% APRpaid last 24h +0.055%

Price spread now: GMX against Gate−0.038%7-day average +0.015% · you buy dearer than you sell

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.156%+$16 on $10k

Price spread, last 3 days (all we have)+0.083%+$8 · spread now −0.038%, 7d avg +0.015%

Together, before fees+0.239%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.053% cheaper against Gate than usual: you would sell low and buy high (spread −0.038% now, against its 7-day average of +0.015%). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$10 a day). At the pace of the last 3 days (+0.156% in total) that is about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate XAG_USDT	66.350	0	get 0.0000% / 4h	2h 04m	$152.0M	$165.8M	100x
Short	GMX SILVER/USD [ETH-USDC]	66.325	L +0.0325% / S −0.0332%	get 0.0042% / 1h	4m 45s	$103K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Gate. 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 GatebpFee GMXbpOrdersPrice spread, now −0.038%Rate

Funding earned: $69.77
Price spread: −0.038% → +0.015%: −$5.27
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: $37.5
Costs to cover: 0.270%
Break-even: 3.2 days

Slippage unknown: Gate: live order book, 4 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 Gate live order book, 4 min ago	0.75 bp	8.7 bp −$9	9.7 bp −$97	12.9 bp −$1,288	16.8 bp −$8,406
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 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	66.245	−0.159%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.295	−0.083%	$35K	$21K	20x	as long as short
Gate XAG_USDTlong	0.0000%	4h	66.350	long leg	$152.0M	$165.8M	100x
SunX XAG-USDT	0.0000%	4h	66.320	−0.045%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.340	−0.015%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.330	−0.030%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.250	−0.151%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.306	−0.066%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.245	−0.159%	$5.3M	$12.2M	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 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.340	−0.015%	$798K	$2.9M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0042%	1h	66.190	−0.241%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.744	+0.594%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.266	−0.127%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.280	−0.106%	$3.9M	$670K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.246	−0.157%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.290	−0.090%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0062%	24h	66.246	−0.157%	$550K	$24.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.306	−0.066%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.310	−0.060%	$165.9M	$75.6M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.253	−0.146%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.280	−0.106%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.270	−0.121%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.324	−0.039%	$2.7M	$937K	100x	as long as short
Paradex XAG-USD-PERP	+0.0137%	8h	66.304	−0.069%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0147%	4h	66.360	+0.015%	$26.7M	$36.5M	150x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.313	−0.055%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0170%	4h	66.313	−0.055%	$5.5M	$9.8M	—	as long as short
MEXC SILVER_USDT	+0.0182%	4h	66.320	−0.045%	$103.7M	$158.9M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.280	−0.106%	$1.9M	$970K	20x	as long as short
Binance XAGUSDT	+0.0184%	4h	66.347	−0.005%	$192.4M	$707.2M	100x	as long as short
Lighter XAG	+0.0192%	1h	66.312	−0.058%	$5.3M	$10.7M	25x	as long as short
edgeX XAGUSDC	+0.0200%	4h	66.297	−0.080%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0213%	8h	66.340	−0.015%	$27.8M	$66.0M	50x	as long as short
Nado XAG-PERP	+0.0218%	1h	66.254	−0.145%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.265	−0.129%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0239%	1h	66.282	−0.103%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0250%	4h	66.340	−0.015%	$23.9M	$46.2M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0262%	4h	66.279	−0.107%	$392K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.332	−0.027%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0325% / S −0.0332%	1h	66.325	−0.038%	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.300	−0.075%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.278	−0.109%	$764K	$478K	25x	as long as short