Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0292%/8h= −32.0% APRpaid last 24h −0.070%

Price spread now: HTX against GMX−0.008%52s7-day average +0.036% · you buy dearer than you sell

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

Long on GMX Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.223%−$22 on $10k

Price spread, last 3 days (all we have)+0.013%+$1 · spread now −0.008%, 7d avg +0.036%

Together, before fees−0.211%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and HTX is 0.043% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.036%). Swap the legs. The two prices were read 52 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]	66.545	L +0.0292% / S −0.0281%	pay 0.0036% / 1h	39m 22s	$103K	—	111x
Short	HTX XAG-USDT	66.540	0	get 0.0000% / 4h	2h 39m	$1.1M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$61.31
Price spread: −0.008% → +0.036%: −$4.32
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$89.63
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 4 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 HTX live order book, 4 min ago	4.51 bp	12.0 bp −$12	12.0 bp −$120	14.7 bp −$1,465	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	−0.0008%	1h	66.483	−0.093%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.423	−0.184%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.530	−0.023%	$154.5M	$161.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.540	−0.008%	$2K	$2.8M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.540	−0.008%	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.530	−0.023%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.471	−0.112%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.500	−0.068%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.466	−0.118%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.218%	$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	66.530	−0.023%	$800K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.961	+0.625%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	−0.198%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.490	−0.083%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.463	−0.123%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.410	−0.203%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.510	−0.053%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.473	−0.108%	$574K	$23.1M	8.1x	as long as short
Bybit XAGUSDT	+0.0072%	4h	66.560	+0.023%	$26.4M	$35.9M	150x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.524	−0.032%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0096%	1h	66.498	−0.071%	$166.0M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.456	−0.134%	$473K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.480	−0.098%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.490	−0.083%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.038%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0116%	4h	66.518	−0.041%	$2.8M	$971K	100x	as long as short
Paradex XAG-USD-PERP	+0.0122%	8h	66.500	−0.067%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	−0.061%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0136%	1h	66.528	−0.025%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0148%	4h	66.530	−0.023%	$114.8M	$157.4M	1000x	as long as short
Binance XAGUSDT	+0.0151%	4h	66.540	−0.008%	$193.1M	$706.9M	100x	as long as short
edgeX XAGUSDC	+0.0153%	4h	66.569	+0.036%	$676K	$313K	30x	as long as short
Lighter XAG	+0.0160%	1h	66.512	−0.050%	$5.4M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	−0.038%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.540	−0.008%	$28.1M	$66.0M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.494	−0.077%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0224%	1h	66.474	−0.107%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0224%	4h	66.540	−0.008%	$24.5M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0238%	4h	66.520	−0.038%	$400K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.466	−0.119%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0282%	1h	66.544	−0.001%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0292% / S −0.0281%	1h	66.545	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	−0.038%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0461%	1h	66.497	−0.072%	$767K	$474K	25x	as long as short