Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0128%/8h= −14.0% APRpaid last 24h −0.014%

Price spread now: Phoenix against GRVT−0.075%7-day average — · you buy dearer than you sell

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

Long on GRVT Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.036%+$4 on $10k

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

Together, before fees—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Phoenix is 0.075% cheaper against GRVT than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	66.378	0.0164	pay 0.0082% / 4h	26m 27s	$395K	$1.5M	25x
Short	Phoenix SILVER	66.328	0.0036	get 0.0005% / 1h	26m 27s	$56K	$26K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.075%Rate

Funding earned: −$26.85
Price spread: −0.075% → 0.000%: −$7.53
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$50.38
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 min ago; 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 GRVT live order book, 2 min ago	0.75 bp	6.4 bp −$6	10.5 bp −$105	42.3 bp −$4,232	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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
dYdX XAG-USD	0.0000%	1h	66.372	−0.010%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.470	+0.139%	$26.1M	$34.1M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.460	+0.124%	$154.2M	$172.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.390	+0.018%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.460	+0.124%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.460	+0.124%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.401	+0.035%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.421	+0.065%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.436	+0.088%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.388	+0.015%	$5.5M	$12.3M	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	+0.033%	$11K	$94K	52x	as long as short
Phoenix SILVERshort	+0.0036%	1h	66.328	−0.075%	$56K	$26K	25x
StandX XAG-USD	+0.0040%	1h	66.320	−0.087%	$794K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.882	+0.759%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.431	+0.080%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.306	−0.108%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.330	−0.072%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.375	−0.005%	$593K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.450	+0.108%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0075%	1h	66.422	+0.066%	$165.5M	$87.0M	25x	as long as short
Variational Omni XAG	+0.0097%	4h	66.397	+0.029%	$5.6M	$10.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	66.390	+0.018%	$480K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.420	+0.063%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.370	−0.012%	$126K	$26K	50x	as long as short
Aster XAGUSDT	+0.0107%	4h	66.450	+0.108%	$2.8M	$1.1M	100x	as long as short
Paradex XAG-USD-PERP	+0.0110%	8h	66.447	+0.103%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0112%	1h	66.371	−0.011%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0114%	4h	66.460	+0.124%	$114.8M	$153.1M	1000x	as long as short
Binance XAGUSDT	+0.0119%	4h	66.470	+0.139%	$192.5M	$721.6M	100x	as long as short
Lighter XAG	+0.0128%	1h	66.445	+0.101%	$5.2M	$10.4M	25x	as long as short
edgeX XAGUSDC	+0.0129%	4h	66.383	+0.007%	$674K	$313K	30x	as long as short
Bitget XAGUSDT	+0.0140%	4h	66.470	+0.139%	$24.2M	$48.1M	100x	as long as short
BloFin XAG-USDT	+0.0151%	4h	66.420	+0.063%	$2.6M	$650K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.410	+0.048%	$1.9M	$847K	20x	as long as short
GRVT XAG_USDT_Perplong	+0.0164%	4h	66.378	long leg	$395K	$1.5M	25x
Aftermath Perps XAGUSD	+0.0168%	1h	66.377	−0.002%	$80K	$40K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.460	+0.124%	$27.9M	$66.6M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.464	+0.129%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0257%	1h	66.473	+0.144%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0262%	1h	66.402	+0.036%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.385	+0.011%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.332	−0.069%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.370	−0.012%	$50K	$361K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0597%	1h	66.360	−0.028%	$761K	$586K	25x	as long as short