Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0325%/8h= −35.6% APRpaid last 24h −0.067%

Price spread now: Gate against GMX−0.008%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 GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.220%−$22 on $10k

Price spread, last 3 days (all we have)−0.038%−$4 · spread now −0.008%, 7d avg −0.015%

Together, before fees−0.258%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SILVER/USD [ETH-USDC]	66.335	L +0.0325% / S −0.0333%	pay 0.0041% / 1h	4m 14s	$103K	—	111x
Short	Gate XAG_USDT	66.330	0	get 0.0000% / 4h	2h 04m	$151.9M	$165.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.008%Rate

Funding earned: −$68.26
Price spread: −0.008% → −0.015%: $0.75
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$94.52
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	0.75 bp	8.3 bp −$8	9.2 bp −$92	12.6 bp −$1,259	15.1 bp −$7,555

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	−0.136%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.280	−0.083%	$35K	$21K	20x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.330	−0.008%	$151.9M	$165.8M	100x
SunX XAG-USDT	0.0000%	4h	66.340	+0.008%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.370	+0.053%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.340	+0.008%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.261	−0.111%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.312	−0.035%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.261	−0.112%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.098%	$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	66.320	−0.023%	$798K	$2.9M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0042%	1h	66.260	−0.113%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.762	+0.644%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.266	−0.104%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.307	−0.042%	$3.9M	$671K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.257	−0.118%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.360	+0.038%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0062%	24h	66.288	−0.071%	$550K	$24.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.370	+0.053%	$1.3M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.282	−0.080%	$165.9M	$75.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.301	−0.051%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	−0.023%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.270	−0.098%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.340	+0.008%	$2.7M	$937K	100x	as long as short
Paradex XAG-USD-PERP	+0.0138%	8h	66.341	+0.010%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0150%	4h	66.350	+0.023%	$26.6M	$36.6M	150x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.323	−0.019%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0170%	4h	66.313	−0.033%	$5.5M	$9.8M	—	as long as short
MEXC SILVER_USDT	+0.0184%	4h	66.330	−0.008%	$111.1M	$159.8M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.280	−0.083%	$1.9M	$970K	20x	as long as short
Binance XAGUSDT	+0.0185%	4h	66.330	−0.008%	$192.3M	$707.2M	100x	as long as short
Lighter XAG	+0.0192%	1h	66.325	−0.015%	$5.3M	$10.7M	25x	as long as short
edgeX XAGUSDC	+0.0200%	4h	66.297	−0.057%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0213%	8h	66.330	−0.008%	$27.9M	$66.0M	50x	as long as short
Nado XAG-PERP	+0.0217%	1h	66.308	−0.041%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.265	−0.106%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0237%	1h	66.297	−0.057%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.330	−0.008%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0262%	4h	66.279	−0.084%	$392K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.346	+0.016%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0325% / S −0.0333%	1h	66.335	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.310	−0.038%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.306	−0.044%	$765K	$478K	25x	as long as short