XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.28 per $10,000 · paid last 24h +0.034%

Price spread now: Binance against Phemex−0.014%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$360.356% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 4 days (all we have)−0.212%−$21 · spread now −0.014%, 7d avg −0.035%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Binance is 0.022% dearer against Phemex than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	64.870	0	get 0.0000% / 4h	3h 32m	$1.4M	$317K	100x
Short	Binance XAGUSDT	64.861	0.0056	get 0.0028% / 4h	3h 32m	$196.9M	$777.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now −0.014%Rate

Funding earned: $11.77
Price spread: −0.014% → −0.035%: $2.16
Slippage, 4 orders: −$13.65
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$21.71
Costs to cover: 0.356%
Break-even: 19.9 days

Slippage from Phemex: live order book, 5 min ago; Binance: live order book, 11 min ago.

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 Phemex live order book, 5 min ago	1.54 bp	12.1 bp −$12	18.7 bp −$187	doesn't fit	doesn't fit
Sell Binance live order book, 11 min ago	0.77 bp	5.8 bp −$6	5.8 bp −$58	10.1 bp −$1,014	24.2 bp −$12.1K

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	64.799	−0.110%	$12K	$6K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	64.860	−0.015%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	64.890	+0.031%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	64.870	long leg	$1.4M	$317K	100x
Gate XAG_USDT	+0.0002%	4h	64.860	−0.015%	$138.6M	$183.7M	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.779	−0.140%	$117K	—	250x	as long as short
Variational Omni XAG	+0.0015%	4h	64.904	+0.053%	$5.3M	$9.1M	—	as long as short
Lighter RH XAG	+0.0032%	1h	64.870	0.000%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.776	−0.145%	$5.0M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+2.359%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	64.920	+0.077%	$781K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.261	+0.603%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	64.840	−0.046%	$446K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	64.769	−0.156%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.782	−0.136%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.740	−0.200%	$5.6M	$9.9M	25x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	64.840	−0.046%	$120.4M	$158.4M	1000x	as long as short
Binance XAGUSDTshort	+0.0056%	4h	64.861	−0.014%	$196.9M	$777.0M	100x
Paradex XAG-USD-PERP	+0.0061%	8h	64.796	−0.115%	$29K	$166	5x	as long as short
edgeX XAGUSDC	+0.0061%	4h	64.915	+0.070%	$661K	$314K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	64.837	−0.051%	$47K	—	10x	as long as short
Aster XAGUSDT	+0.0073%	4h	64.860	−0.015%	$2.6M	$996K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.790	−0.123%	$1.6M	$1.4M	20x	as long as short
Kalshi KXSILVERPERP	+0.0085%	24h	64.815	−0.085%	$484K	$34.5M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	64.805	−0.100%	$34K	$21K	20x	as long as short
Pacifica XAG	+0.0100%	1h	64.781	−0.137%	$462K	$592K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	64.800	−0.108%	$25.1M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.870	0.000%	$111K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	64.908	+0.059%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0136%	1h	64.831	−0.060%	$173.6M	$87.6M	25x	as long as short
GRVT XAG_USDT_Perp	+0.0152%	4h	64.934	+0.099%	$390K	$1.5M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.846	−0.036%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0158%	1h	64.798	−0.111%	$1.2M	$4.2M	10x	as long as short
Bitget XAGUSDT	+0.0192%	4h	64.870	0.000%	$23.2M	$46.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	64.870	0.000%	$28.7M	$73.3M	50x	as long as short
Bybit XAGUSDT	+0.0218%	4h	64.880	+0.015%	$29.3M	$42.6M	150x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	64.869	−0.002%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0223%	4h	64.850	−0.031%	$2.7M	$653K	100x	as long as short
Lighter XAG	+0.0232%	1h	64.870	0.000%	$5.3M	$11.0M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	64.845	−0.039%	$92K	—	111x	as long as short
Bullet SILVER-USD	+0.0300%	1h	64.842	−0.043%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	64.870	0.000%	$20K	$15K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0367%	1h	64.830	−0.062%	$76K	$430K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0420%	1h	64.811	−0.090%	$1.0M	$890K	25x	as long as short