Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0094%/8h= −10.3% APRpaid last 24h −0.041%

Price spread now: OKX against GMX−0.008%7-day average −0.023% · you buy dearer than you sell

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.189%−$19 on $10k

Price spread, last 3 days (all we have)−0.060%−$6 · spread now −0.008%, 7d avg −0.023%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$3 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]	66.635	L +0.0291% / S −0.0281%	pay 0.0036% / 1h	16m 59s	$103K	—	111x
Short	OKX XAG-USDT-SWAP	66.630	0.0196	get 0.0196% / 8h	16m 59s	$28.0M	$67.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$19.84
Price spread: −0.008% → −0.023%: $1.59
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$40.25
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 2 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 OKX live order book, 2 min ago	0.75 bp	5.8 bp −$6	7.0 bp −$70	12.4 bp −$1,236	84.9 bp −$42.4K

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
dYdX XAG-USD	0.0000%	1h	66.560	−0.113%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.640	+0.008%	$26.2M	$34.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.640	+0.008%	$156.1M	$174.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.640	+0.008%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.630	−0.008%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.630	−0.008%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.570	−0.098%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.613	−0.033%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.566	−0.104%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.353%	$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
Phoenix SILVER	+0.0036%	1h	66.531	−0.156%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.530	−0.158%	$796K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.076	+0.662%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.601	−0.051%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.565	−0.105%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.530	−0.158%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.587	−0.072%	$582K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.610	−0.038%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0072%	1h	66.591	−0.066%	$166.0M	$87.0M	25x	as long as short
BloFin XAG-USDT	+0.0084%	4h	66.630	−0.008%	$2.6M	$652K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.577	−0.087%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.590	−0.068%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.570	−0.098%	$127K	$26K	50x	as long as short
Paradex XAG-USD-PERP	+0.0106%	8h	66.619	−0.023%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0106%	4h	66.526	−0.164%	$5.6M	$10.1M	—	as long as short
Aster XAGUSDT	+0.0116%	4h	66.636	+0.001%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.615	−0.031%	$5.2M	$10.4M	25x	as long as short
MEXC SILVER_USDT	+0.0124%	4h	66.620	−0.023%	$115.2M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0125%	4h	66.620	−0.023%	$192.8M	$724.7M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.630	−0.007%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0133%	4h	66.541	−0.140%	$675K	$315K	30x	as long as short
Hotstuff SILVER-PERP	+0.0152%	1h	66.598	−0.056%	$35K	$21K	20x	as long as short
Bitget XAGUSDT	+0.0152%	4h	66.630	−0.008%	$24.4M	$48.4M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.640	+0.008%	$1.9M	$853K	20x	as long as short
Aftermath Perps XAGUSD	+0.0166%	1h	66.516	−0.178%	$80K	$39K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.640	+0.008%	$392K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAPshort	+0.0196%	8h	66.630	−0.008%	$28.0M	$67.0M	50x
RISEx XAG/USDC	+0.0208%	1h	66.634	−0.002%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0252%	1h	66.633	−0.003%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.588	−0.071%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.610	−0.037%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0291% / S −0.0281%	1h	66.635	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.620	−0.023%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.600	−0.053%	$764K	$588K	25x	as long as short