Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0177%/8h= +19.4% APRpaid last 24h +0.036%

Price spread now: GMX against MEXC−0.008%148s7-day average +0.037% · you buy dearer than you sell

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.008%, 7d avg +0.037%

Together, before fees+0.208%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.045% cheaper against MEXC than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.037%). If the spread goes back, that is −$4 on $10k: about 20 hours of funding at the current rate (+$5 a day). The two prices were read 148 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	MEXC SILVER_USDT	65.360	0.0064	pay 0.0032% / 4h	1h 28m	$116.0M	$157.4M	1000x
Short	GMX SILVER/USD [ETH-USDC]	65.355	L +0.0273% / S −0.0241%	get 0.0030% / 1h	28m 46s	$93K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $37.25
Price spread: −0.008% → +0.037%: −$4.49
Slippage, 4 orders: no order book: not counted
Fee MEXC: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $20.76
Costs to cover: 0.120%
Break-even: 3.1 days

Slippage unknown: MEXC: live order book, 5 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 MEXC live order book, 5 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	2.3 bp −$1,135
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
Hibachi XAG/USDT-P	−0.0176%	1h	65.297	−0.097%	$20K	$20K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0094%	1h	65.220	−0.214%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.099%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.350	−0.015%	$28.0M	$39.8M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.340	−0.031%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.380	+0.031%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.360	0.000%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.310	−0.076%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0018%	4h	65.380	+0.031%	$141.2M	$182.1M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.359	−0.002%	$4.6M	$9.8M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.297	−0.096%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.591%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.320	−0.061%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0041%	4h	65.340	−0.031%	$2.7M	$966K	100x	as long as short
Variational Omni XAG	+0.0043%	4h	65.344	−0.025%	$5.5M	$9.4M	—	as long as short
Vest SI-PERP	+0.0046%	1h	65.745	+0.589%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.320	−0.061%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.333	−0.041%	$170.3M	$83.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.296	−0.098%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.265	−0.145%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	65.317	−0.066%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.328	−0.049%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.313	−0.072%	$56K	$31K	25x	as long as short
MEXC SILVER_USDTlong	+0.0064%	4h	65.360	long leg	$116.0M	$157.4M	1000x
Binance XAGUSDT	+0.0064%	4h	65.366	+0.009%	$190.2M	$763.5M	100x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.315	−0.069%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0073%	4h	65.347	−0.020%	$665K	$314K	30x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.302	−0.089%	$487K	$30.8M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.285	−0.115%	$467K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.320	−0.061%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.340	−0.031%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0114%	4h	65.360	0.000%	$397K	$1.6M	25x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	65.315	−0.069%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.380	+0.031%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0128%	1h	65.294	−0.101%	$1.2M	$5.5M	10x	as long as short
Lighter XAG	+0.0136%	1h	65.369	+0.014%	$5.4M	$11.4M	25x	as long as short
Bullet SILVER-USD	+0.0175%	1h	65.335	−0.038%	$43K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0180%	4h	65.360	0.000%	$23.8M	$46.4M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0185%	8h	65.330	−0.046%	$28.0M	$71.0M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0210%	1h	65.310	−0.076%	$65K	$377K	20x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.318	−0.064%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0260%	4h	65.350	−0.015%	$2.6M	$611K	100x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0273% / S −0.0241%	1h	65.355	−0.008%	$93K	—	111x
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.301	−0.090%	$915K	$746K	25x	as long as short