XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.6% APRnext payment +$0.07 per $10,000 · paid last 24h +0.018%

Price spread now: Deribit against GMX+0.068%54s7-day average −0.022% · you sell dearer than you buy

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.120%−$12 on $10k

Price spread, last 3 days (all we have)−0.088%−$9 · spread now +0.068%, 7d avg −0.022%

Together, before fees−0.207%−$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Deribit is 0.090% dearer against GMX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.022%. Mind the row above: over the last 3 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour. The two prices were read 54 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	GMX SILVER/USD [ETH-USDC]	66.485	L +0.0292% / S −0.0281%	pay 0.0036% / 1h	42m 23s	$103K	—	111x
Short	Deribit SILVER_USDC-PERPETUAL	66.530	0.0352	get 0.0044% / 1h	42m 23s	$50K	$331K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. 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 GMXbpFee DeribitbpOrdersPrice spread, now +0.068%Rate

Funding earned: $12.58
Price spread: +0.068% → −0.022%: $9.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $2.59
Costs to cover: 0.190%
Break-even: 5.6 days

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 26 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 26 min ago	0.75 bp	10.2 bp −$10	10.6 bp −$106	doesn't fit	doesn't fit

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
Hotstuff SILVER-PERP	−0.0032%	1h	66.421	−0.096%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.423	−0.094%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.470	−0.023%	$154.5M	$161.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.550	+0.098%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.600	+0.173%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.520	+0.053%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.412	−0.110%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.442	−0.065%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.399	−0.130%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.128%	$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
StandX XAG-USD	+0.0040%	1h	66.560	+0.113%	$801K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.918	+0.651%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.479	−0.009%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.427	−0.087%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.471	−0.021%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.360	−0.188%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.450	−0.053%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.545	+0.090%	$574K	$23.1M	8.1x	as long as short
Bybit XAGUSDT	+0.0061%	4h	66.490	+0.008%	$26.4M	$35.9M	150x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.468	−0.026%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.438	−0.071%	$165.9M	$79.4M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.402	−0.125%	$473K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.420	−0.098%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.490	+0.008%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.128%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0117%	4h	66.467	−0.027%	$2.8M	$991K	100x	as long as short
Paradex XAG-USD-PERP	+0.0121%	8h	66.448	−0.055%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0124%	4h	66.565	+0.120%	$5.6M	$9.7M	—	as long as short
Aevo XAG-PERP	+0.0136%	1h	66.464	−0.032%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0140%	4h	66.523	+0.057%	$675K	$315K	30x	as long as short
MEXC SILVER_USDT	+0.0146%	4h	66.460	−0.038%	$108.1M	$156.6M	1000x	as long as short
Binance XAGUSDT	+0.0148%	4h	66.470	−0.023%	$192.9M	$707.9M	100x	as long as short
Lighter XAG	+0.0160%	1h	66.457	−0.042%	$5.4M	$10.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.053%	$1.9M	$968K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0196%	8h	66.460	−0.038%	$28.0M	$66.0M	50x	as long as short
Bitget XAGUSDT	+0.0220%	4h	66.470	−0.023%	$24.4M	$45.9M	100x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.412	−0.110%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0223%	1h	66.479	−0.009%	$80K	$38K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0238%	4h	66.591	+0.159%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0281%	1h	66.479	−0.008%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.493	+0.012%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0292% / S −0.0281%	1h	66.485	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUALshort	+0.0352%	1h	66.530	+0.068%	$50K	$331K	20x
Kraken Futures PF_XAGUSD	+0.0461%	1h	66.512	+0.040%	$767K	$491K	25x	as long as short