XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0186%/8h= +20.4% APRnext payment +$0.93 per $10,000 · paid last 24h +0.061%

Price spread now: Bitget against Phemex−0.015%46s7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.347% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.120%+$12 on $10k

Price spread, last 4 days (all we have)−0.071%−$7 · spread now −0.015%, 7d avg −0.032%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.032%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate. The two prices were read 46 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.120% in total (about 6.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.93 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.580	0	get 0.0000% / 4h	8m 29s	$1.5M	$257K	100x
Short	Bitget XAGUSDT	65.570	0.0186	get 0.0093% / 4h	8m 29s	$23.4M	$53.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.015%Rate

Funding earned: $39.06
Price spread: −0.015% → −0.032%: $1.63
Slippage, 4 orders: −$10.67
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $6.02
Costs to cover: 0.347%
Break-even: 5.9 days

Slippage from Phemex: live order book, 2 min ago; Bitget: live order book, 4 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, 2 min ago	4.57 bp	10.6 bp −$11	17.2 bp −$172	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	0.76 bp	6.8 bp −$7	8.7 bp −$87	16.8 bp −$1,677	52.1 bp −$26.1K

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−0.6920%	1h	65.534	−0.070%	$39K	$26K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.485	−0.145%	$13K	$8K	5x	as long as short
RISEx XAG/USDC	0.0000%	1h	65.573	−0.011%	$1.3M	$5.6M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	65.580	0.000%	$135.1M	$204.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.580	0.000%	$2K	$2.3M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.600	+0.030%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.580	long leg	$1.5M	$257K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.501	−0.121%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0014%	4h	65.557	−0.035%	$5.4M	$9.3M	—	as long as short
Ondo Perps XAG-USD.P	+0.0031%	1h	65.470	−0.168%	$5.7M	$11.1M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.545	−0.053%	$4.6M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.495	−0.129%	$5.1M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.491%	$11K	$240	52x	as long as short
Aster XAGUSDT	+0.0039%	4h	65.550	−0.046%	$2.7M	$1.2M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.570	−0.015%	$789K	$3.1M	40x	as long as short
MEXC SILVER_USDT	+0.0042%	4h	65.560	−0.030%	$120.6M	$166.6M	1000x	as long as short
QFEX SILVER-USD	+0.0042%	1h	65.560	−0.030%	$446K	$1.4M	20x	as long as short
Binance XAGUSDT	+0.0044%	4h	65.570	−0.015%	$191.0M	$861.6M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.001	+0.642%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.532	−0.073%	$3.8M	$1.5M	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.496	−0.128%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.537	−0.066%	$29K	—	5x	as long as short
Aevo XAG-PERP	+0.0056%	1h	65.529	−0.077%	$47K	—	10x	as long as short
Bybit XAGUSDT	+0.0058%	4h	65.580	0.000%	$30.8M	$48.6M	150x	as long as short
edgeX XAGUSDC	+0.0065%	4h	65.539	−0.062%	$668K	$313K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0078%	4h	65.571	−0.013%	$390K	$1.6M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0086%	1h	65.535	−0.069%	$175.6M	$85.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.494	−0.131%	$462K	$501K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.530	−0.076%	$25.3M	$4.1M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.540	−0.061%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.540	−0.061%	$1.6M	$2.1M	20x	as long as short
Kalshi KXSILVERPERP	+0.0112%	24h	65.565	−0.023%	$782K	$38.8M	8.1x	as long as short
Nado XAG-PERP	+0.0133%	1h	65.529	−0.077%	$1.1M	$3.2M	10x	as long as short
Phoenix SILVER	+0.0134%	1h	65.516	−0.098%	$55K	$15K	25x	as long as short
Lighter XAG	+0.0144%	1h	65.549	−0.048%	$5.3M	$12.2M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0160%	8h	65.570	−0.015%	$27.6M	$86.4M	50x	as long as short
BloFin XAG-USDT	+0.0171%	4h	65.590	+0.015%	$2.6M	$771K	100x	as long as short
Bitget XAGUSDTshort	+0.0186%	4h	65.570	−0.015%	$23.4M	$53.4M	100x
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.550	−0.046%	$77K	$381K	20x	as long as short
Aftermath Perps XAGUSD	+0.0225%	1h	65.547	−0.051%	$79K	$37K	10x	as long as short
Bullet SILVER-USD	+0.0239%	1h	65.578	−0.003%	$43K	$70K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	65.520	−0.091%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0244% / S −0.0204%	1h	65.585	+0.008%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0540%	1h	65.552	−0.043%	$1.0M	$959K	25x	as long as short