XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0240%/8h= −26.3% APRnext payment −$0.30 per $10,000 · paid last 24h −0.055%

Price spread now: QFEX against GMX−0.053%48s7-day average −0.032% · you buy dearer than you sell

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

Long on GMX Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.205%−$21 on $10k

Price spread, last 3 days (all we have)+0.009%+$1 · spread now −0.053%, 7d avg −0.032%

Together, before fees−0.196%−$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and QFEX is 0.020% cheaper against GMX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.032%). Swap the legs. The two prices were read 48 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]	66.535	L +0.0291% / S −0.0281%	pay 0.0036% / 1h	25m 35s	$103K	—	111x
Short	QFEX SILVER-USD	66.500	0.0051	get 0.0006% / 1h	25m 35s	$115K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$50.39
Price spread: −0.053% → −0.032%: −$2.03
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$74.41
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; QFEX: 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 QFEX live order book, 2 min ago	2.26 bp	7.3 bp −$7	7.3 bp −$73	9.8 bp −$983	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
dYdX XAG-USD	0.0000%	1h	66.490	−0.068%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.530	−0.008%	$25.9M	$35.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.520	−0.023%	$154.9M	$168.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.530	−0.008%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.570	+0.053%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.550	+0.023%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.468	−0.100%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.482	−0.080%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.506	−0.044%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.453	−0.124%	$5.4M	$12.4M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.203%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.550	+0.023%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.954	+0.630%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.492	−0.065%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.483	−0.078%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.462	−0.110%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.410	−0.188%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USDshort	+0.0051%	1h	66.500	−0.053%	$115K	$2.8M	20x
tradeXYZ xyz:SILVER	+0.0052%	1h	66.479	−0.084%	$165.4M	$85.6M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.464	−0.107%	$562K	$21.5M	8.1x	as long as short
BloFin XAG-USDT	+0.0064%	4h	66.590	+0.083%	$2.6M	$703K	100x	as long as short
Aster XAGUSDT	+0.0086%	4h	66.520	−0.023%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0089%	4h	66.514	−0.032%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0098%	8h	66.500	−0.052%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0099%	4h	66.535	0.000%	$675K	$313K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.455	−0.120%	$474K	$623K	10x	as long as short
MEXC SILVER_USDT	+0.0100%	4h	66.510	−0.038%	$108.7M	$160.3M	1000x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.480	−0.083%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.500	−0.053%	$126K	$24K	50x	as long as short
Binance XAGUSDT	+0.0102%	4h	66.519	−0.024%	$192.4M	$722.2M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0104%	4h	66.559	+0.036%	$394K	$1.5M	25x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.513	−0.034%	$48K	—	10x	as long as short
Lighter XAG	+0.0120%	1h	66.508	−0.040%	$5.4M	$10.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.515	−0.030%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0167%	1h	66.463	−0.108%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0174%	4h	66.520	−0.023%	$24.5M	$47.9M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.068%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	66.510	−0.038%	$27.9M	$67.2M	50x	as long as short
Aftermath Perps XAGUSD	+0.0195%	1h	66.501	−0.051%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0225%	1h	66.528	−0.011%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	66.483	−0.079%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0291% / S −0.0281%	1h	66.535	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	−0.023%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.489	−0.069%	$764K	$565K	25x	as long as short