XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0177%/8h= −19.3% APRnext payment −$0.22 per $10,000 · paid last 24h −0.070%

Price spread now: Phoenix against GMX−0.161%65s7-day average — · you buy dearer than you sell

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

Long on GMX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phoenix is 0.161% cheaper against GMX than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 65 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]	65.175	L +0.0238% / S −0.0196%	pay 0.0030% / 1h	18m 24s	$92K	—	111x
Short	Phoenix SILVER	65.070	0.0061	get 0.0008% / 1h	18m 24s	$55K	$31K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.161%Rate

Funding earned: −$37.11
Price spread: −0.161% → 0.000%: −$16.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$72.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Phoenix: 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 GMX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

GMX and Phoenix: 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	−0.0040%	1h	65.090	−0.130%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0031%	1h	65.010	−0.253%	$5.6M	$9.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.070	−0.161%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.200	+0.038%	$27.7M	$39.2M	150x	as long as short
Variational Omni XAG	0.0000%	4h	65.124	−0.079%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.170	−0.008%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.160	−0.023%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.150	−0.038%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.112	−0.097%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.180	+0.008%	$140.6M	$181.1M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.141	−0.052%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.108	−0.103%	$5.0M	$11.7M	10x	as long as short
MEXC SILVER_USDT	+0.0032%	4h	65.150	−0.038%	$126.2M	$160.7M	1000x	as long as short
edgeX XAGUSDC	+0.0033%	4h	65.105	−0.108%	$663K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.880%	$11K	$94K	52x	as long as short
Binance XAGUSDT	+0.0034%	4h	65.170	−0.008%	$191.5M	$757.4M	100x	as long as short
Aster XAGUSDT	+0.0036%	4h	65.150	−0.038%	$2.7M	$970K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.140	−0.054%	$784K	$2.9M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.150	−0.038%	$161K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.556	+0.585%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.164	−0.017%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.125	−0.077%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.116	−0.091%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.134	−0.063%	$29K	$1K	5x	as long as short
Phoenix SILVERshort	+0.0061%	1h	65.070	−0.161%	$55K	$31K	25x
tradeXYZ xyz:SILVER	+0.0066%	1h	65.133	−0.064%	$173.1M	$84.5M	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.097	−0.120%	$476K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.315%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.081	−0.144%	$463K	$600K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.110	−0.100%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.080	−0.146%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.160	−0.023%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDT	+0.0133%	4h	65.140	−0.054%	$2.7M	$625K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0138%	4h	65.132	−0.067%	$394K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0158%	4h	65.190	+0.023%	$23.2M	$44.9M	100x	as long as short
Nado XAG-PERP	+0.0165%	1h	65.099	−0.117%	$1.2M	$4.7M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0171%	8h	65.190	+0.023%	$28.4M	$70.6M	50x	as long as short
Lighter XAG	+0.0184%	1h	65.146	−0.045%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0192%	1h	65.106	−0.106%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0211%	1h	65.160	−0.023%	$65K	$394K	20x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.080	−0.146%	$20K	$17K	10x	as long as short
Bullet SILVER-USD	+0.0233%	1h	65.134	−0.063%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0238% / S −0.0196%	1h	65.175	long leg	$92K	—	111x
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.110	−0.100%	$1.0M	$869K	25x	as long as short