Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0036%/8h= +4.0% APRpaid last 24h +0.016%

Price spread now: Phoenix against HTX−0.179%7-day average — · you buy dearer than you sell

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

Long on HTX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.179% cheaper against HTX than usual: you would sell low and buy high (spread −0.179% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 17 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	66.490	0	get 0.0000% / 4h	43m 09s	$1.0M	$1.1M	75x
Short	Phoenix SILVER	66.371	0.0036	get 0.0005% / 1h	43m 09s	$56K	$26K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against HTX. 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 HTXbpFee PhoenixbpOrdersPrice spread, now −0.179%Rate

Funding earned: $7.59
Price spread: −0.179% → 0.000%: −$17.9
Slippage, 4 orders: no order book: not counted
Fee HTX: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$29.31
Costs to cover: 0.190%
Break-even: 34.0 days

Slippage unknown: HTX: live order book, 1 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 HTX live order book, 1 min ago	4.51 bp	10.5 bp −$11	10.5 bp −$105	13.4 bp −$1,343	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	66.370	−0.181%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.470	−0.030%	$25.7M	$33.5M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.480	−0.015%	$147.4M	$169.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.460	−0.045%	$2K	$3.1M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	66.490	long leg	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.490	0.000%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.406	−0.126%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.469	−0.032%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.402	−0.133%	$5.5M	$12.3M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.417	−0.110%	$35K	$21K	20x	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	−0.135%	$11K	$94K	52x	as long as short
Phoenix SILVERshort	+0.0036%	1h	66.371	−0.179%	$56K	$26K	25x
StandX XAG-USD	+0.0040%	1h	66.390	−0.150%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.890	+0.602%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.420	−0.105%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.407	−0.125%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.320	−0.256%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.411	−0.119%	$590K	$21.2M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.450	−0.060%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0069%	1h	66.449	−0.062%	$165.6M	$87.6M	25x	as long as short
Variational Omni XAG	+0.0088%	4h	66.467	−0.035%	$5.6M	$10.3M	—	as long as short
Aster XAGUSDT	+0.0089%	4h	66.472	−0.027%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.394	−0.144%	$475K	$625K	10x	as long as short
MEXC SILVER_USDT	+0.0100%	4h	66.470	−0.030%	$114.3M	$152.9M	1000x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.420	−0.105%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.370	−0.180%	$126K	$26K	50x	as long as short
Binance XAGUSDT	+0.0101%	4h	66.480	−0.016%	$191.9M	$722.2M	100x	as long as short
BloFin XAG-USDT	+0.0101%	4h	66.470	−0.030%	$2.6M	$650K	100x	as long as short
Paradex XAG-USD-PERP	+0.0103%	8h	66.440	−0.074%	$30K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.457	−0.050%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0110%	4h	66.443	−0.071%	$674K	$316K	30x	as long as short
Lighter XAG	+0.0112%	1h	66.469	−0.031%	$5.2M	$10.3M	25x	as long as short
Bitget XAGUSDT	+0.0118%	4h	66.490	0.000%	$24.2M	$47.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0146%	1h	66.417	−0.110%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0154%	4h	66.424	−0.099%	$395K	$1.4M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.460	−0.045%	$1.9M	$848K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0188%	8h	66.480	−0.015%	$27.6M	$66.3M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.459	−0.046%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0244%	1h	66.473	−0.026%	$46K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.408	−0.123%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.475	−0.023%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	66.384	−0.159%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.460	−0.045%	$51K	$360K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.436	−0.081%	$768K	$566K	25x	as long as short