Funding you earn now, next payment 23:00 UTC−0.0310%/8h= −33.9% APRnext payment −$0.39 per $10,000 · paid last 24h −0.052%
Price spread now: Polymarket Perps against GMX−0.038%54s7-day average −0.077% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.173%−$17 on $10k
+Price spread, last 3 days (all we have)−0.087%−$9 · spread now −0.038%, 7d avg −0.077%
=The price spread pays, funding is against you. Polymarket Perps is 0.039% dearer against GMX than usual: you sell high and buy low (spread −0.038% now, against its 7-day average of −0.077%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 10 hours. 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] | 66.145 | L +0.0360% / S −0.0369% | pay 0.0045% / 1h | 58m 36s | $103K | — | 29x |
| Short | Polymarket Perps SILVER-USD | 66.120 | 0.0050 | get 0.0006% / 1h | 58m 36s | $3.9M | $727K | 20x |
GMX SILVER/USD [ETH-USDC]
Polymarket Perps SILVER-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Polymarket Perps against GMX. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$65.01
- Price spread: −0.038% → −0.077%
- $3.95
- Slippage, 4 orders
- no order book: not counted
- Fee GMX: 6 bp × 2 orders
- −$12
- Fee Polymarket Perps: 4 bp × 2 orders
- −$8
- Net
- −$81.06
- Costs to cover
- 0.200%
- Break-even
- never at this rate
Slippage unknown: GMX: no order-book sample; Polymarket Perps: 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 Polymarket Perps live order book, 5 min ago | 1.66 bp | 6.1 bp −$6 | 6.3 bp −$63 | 9.3 bp −$929 | 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 42 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 | |
|---|---|---|---|---|---|---|---|---|
| Kraken Futures PF_XAGUSD | −0.0272% | 1h | 66.067 | −0.117% | $776K | $609K | 25x | as long as short |
| Hotstuff SILVER-PERP | −0.0120% | 1h | 66.037 | −0.163% | $35K | $21K | 20x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 66.121 | −0.036% | $15K | — | 5x | as long as short |
| Bybit XAGUSDT | 0.0000% | 4h | 66.140 | −0.008% | $25.5M | $35.1M | 150x | as long as short |
| RISEx XAG/USDC | 0.0000% | 1h | 66.145 | 0.000% | $1.3M | $4.3M | 20x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.110 | −0.053% | $146.6M | $170.3M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.120 | −0.038% | $2K | $3.3M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.150 | +0.008% | $1.0M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.120 | −0.038% | $1.5M | $248K | 100x | as long as short |
| Bitget XAGUSDT | +0.0010% | 4h | 66.140 | −0.008% | $23.6M | $49.5M | 100x | as long as short |
Kraken Futures PF_XAGUSD
Hotstuff SILVER-PERP
dYdX XAG-USD
Bybit XAGUSDT
RISEx XAG/USDC
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
Bitget XAGUSDTShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aftermath Perps XAGUSD | +0.0010% | 1h | 66.048 | −0.146% | $80K | $40K | 10x | as long as short |
| Aster XAGUSDT | +0.0013% | 4h | 66.160 | +0.023% | $2.8M | $1.1M | 100x | as long as short |
| GRVT XAG_USDT_Perp | +0.0016% | 4h | 66.084 | −0.092% | $392K | $1.6M | 25x | as long as short |
| QFEX SILVER-USD | +0.0016% | 1h | 66.120 | −0.038% | $144K | $2.8M | 20x | as long as short |
| Lighter XAG | +0.0032% | 1h | 66.100 | −0.067% | $5.1M | $10.5M | 25x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.098 | −0.070% | $4.4M | $9.3M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.072 | −0.110% | $5.4M | $14.8M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +0.386% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.110 | −0.053% | $791K | $2.8M | 40x | as long as short |
| Variational Omni XAG | +0.0045% | 4h | 66.103 | −0.064% | $5.3M | $11.1M | — | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.592 | +0.676% | — | — | 25x | as long as short |
| tradeXYZ xyz:SILVER | +0.0050% | 1h | 66.095 | −0.076% | $164.1M | $96.1M | 25x | as long as short |
| Polymarket Perps SILVER-USDshort | +0.0050% | 1h | 66.120 | −0.038% | $3.9M | $727K | 20x | |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.078 | −0.101% | $4K | $5K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 66.050 | −0.144% | $5.4M | $9.8M | 25x | as long as short |
| Binance XAGUSDT | +0.0053% | 4h | 66.134 | −0.016% | $190.3M | $775.7M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0054% | 4h | 66.110 | −0.053% | $121.8M | $179.7M | 1000x | as long as short |
| Kalshi KXSILVERPERP | +0.0055% | 24h | 66.097 | −0.073% | $660K | $21.3M | 8.1x | as long as short |
| edgeX XAGUSDC | +0.0057% | 4h | 66.096 | −0.074% | $670K | $316K | 30x | as long as short |
| Aevo XAG-PERP | +0.0064% | 1h | 66.129 | −0.024% | $47K | — | 10x | as long as short |
| Phoenix SILVER | +0.0073% | 1h | 66.019 | −0.190% | $56K | $26K | 25x | as long as short |
| BloFin XAG-USDT | +0.0075% | 4h | 66.110 | −0.053% | $2.6M | $1.2M | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0099% | 8h | 66.128 | −0.025% | $30K | $1K | 5x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.091 | −0.082% | $473K | $643K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.120 | −0.038% | $24.2M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.080 | −0.098% | $112K | $85K | 50x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0104% | 1h | 66.130 | −0.023% | $1.9M | $972K | 20x | as long as short |
| Nado XAG-PERP | +0.0123% | 1h | 66.101 | −0.067% | $1.3M | $6.5M | 10x | as long as short |
| OKX XAG-USDT-SWAP | +0.0142% | 8h | 66.160 | +0.023% | $27.3M | $68.4M | 50x | as long as short |
| Bullet SILVER-USD | +0.0210% | 1h | 66.145 | 0.000% | $44K | $74K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC]long | L +0.0360% / S −0.0369% | 1h | 66.145 | long leg | $103K | — | 29x | |
| Deribit SILVER_USDC-PERPETUAL | +0.0506% | 1h | 66.150 | +0.008% | $60K | $363K | 20x | as long as short |
Aftermath Perps XAGUSD
Aster XAGUSDT
GRVT XAG_USDT_Perp
QFEX SILVER-USD
Lighter XAG
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USD
Variational Omni XAG
Vest SI-PERP
tradeXYZ xyz:SILVER
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
Binance XAGUSDT
MEXC SILVER_USDT
Kalshi KXSILVERPERP
edgeX XAGUSDC
Aevo XAG-PERP
Phoenix SILVER
BloFin XAG-USDT
Paradex XAG-USD-PERP
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Coinbase International SILVER-PERP-INTX
Nado XAG-PERP
OKX XAG-USDT-SWAP
Bullet SILVER-USD
Deribit SILVER_USDC-PERPETUAL