Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0181%/8h= +19.8% APRpaid last 24h +0.037%

Price spread now: GMX against GRVT−0.091%69s7-day average −0.016% · you buy dearer than you sell

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

Long on GRVT Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.118%+$12 on $10k

Price spread, last 3 days (all we have)+0.120%+$12 · spread now −0.091%, 7d avg −0.016%

Together, before fees+0.238%+ Points / potential airdropGRVT: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.075% cheaper against GRVT than usual: you would sell low and buy high (spread −0.091% now, against its 7-day average of −0.016%). If the spread goes back, that is −$8 on $10k: about 33 hours of funding at the current rate (+$5 a day). The two prices were read 69 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	GRVT XAG_USDT_Perp	66.606	0.0100	pay 0.0050% / 4h	3h 30m	$394K	$1.5M	25x
Short	GMX SILVER/USD [ETH-USDC]	66.545	L +0.0291% / S −0.0281%	get 0.0035% / 1h	30m 25s	$103K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against GRVT. 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 GRVTbpFee GMXbpOrdersPrice spread, now −0.091%Rate

Funding earned: $37.99
Price spread: −0.091% → −0.016%: −$7.5
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $9.49
Costs to cover: 0.210%
Break-even: 5.3 days

Slippage unknown: GRVT: live order book, 3 min ago; GMX: 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 GRVT live order book, 3 min ago	0.75 bp	7.7 bp −$8	8.2 bp −$82	38.6 bp −$3,864	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.174%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.560	−0.069%	$155.3M	$167.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.560	−0.069%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.610	+0.006%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.600	−0.009%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.476	−0.195%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.516	−0.135%	$35K	$21K	20x	as long as short
Bybit XAGUSDT	+0.0010%	4h	66.560	−0.069%	$26.1M	$35.3M	150x	as long as short
Lighter RH XAG	+0.0032%	1h	66.536	−0.105%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.476	−0.195%	$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	−0.309%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.560	−0.069%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.979	+0.560%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.543	−0.094%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.505	−0.151%	$165.4M	$85.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.512	−0.141%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.473	−0.199%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.450	−0.234%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.540	−0.099%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.503	−0.154%	$567K	$21.5M	8.1x	as long as short
Aster XAGUSDT	+0.0083%	4h	66.550	−0.084%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0087%	4h	66.545	−0.092%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0094%	8h	66.540	−0.098%	$30K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	66.530	−0.114%	$108.4M	$160.2M	1000x	as long as short
Binance XAGUSDT	+0.0099%	4h	66.548	−0.086%	$192.7M	$721.8M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.496	−0.165%	$475K	$626K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.520	−0.129%	$24.6M	$4.5M	75x	as long as short
GRVT XAG_USDT_Perplong	+0.0100%	4h	66.606	long leg	$394K	$1.5M	25x
ApeX Omni XAGUSDT	+0.0100%	1h	66.540	−0.099%	$127K	$24K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.531	−0.112%	$48K	—	10x	as long as short
BloFin XAG-USDT	+0.0111%	4h	66.600	−0.009%	$2.6M	$703K	100x	as long as short
Lighter XAG	+0.0112%	1h	66.541	−0.097%	$5.4M	$10.5M	25x	as long as short
edgeX XAGUSDC	+0.0117%	4h	66.616	+0.015%	$676K	$315K	30x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.552	−0.080%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0164%	1h	66.501	−0.156%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	66.550	−0.084%	$24.5M	$48.1M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	−0.039%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.560	−0.069%	$27.9M	$67.3M	50x	as long as short
Aftermath Perps XAGUSD	+0.0190%	1h	66.532	−0.111%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0219%	1h	66.549	−0.085%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.513	−0.140%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0291% / S −0.0281%	1h	66.545	−0.091%	$103K	—	111x
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.508	−0.146%	$765K	$565K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.530	−0.114%	$50K	$336K	20x	as long as short