Funding you earn now, next payment 21:00 UTC+0.0127%/8h= +13.9% APRnext payment +$0.16 per $10,000 · paid last 24h +0.043%
Price spread now: Coinbase International against Phoenix−0.223%72s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.114%+$11 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. Coinbase International is 0.223% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.223% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$22 on $10k: about 5.8 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.114% in total) that is about 14 days. The two prices were read 72 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 | Phoenix SILVER | 66.027 | 0.0073 | pay 0.0009% / 1h | 8m 15s | $56K | $26K | 25x |
| Short | Coinbase International SILVER-PERP-INTX | 65.880 | 0.0200 | get 0.0025% / 1h | 8m 15s | $1.9M | $1.2M | 20x |
Phoenix SILVER
Coinbase International SILVER-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $26.74
- Price spread: −0.223% → 0.000%
- −$22.26
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$12.53
- Costs to cover
- 0.170%
- Break-even
- 10.3 days
Slippage unknown: Phoenix: no order-book sample; Coinbase International: live order book, just now. 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Coinbase International live order book, just now | 3.03 bp | 8.0 bp −$8 | 10.9 bp −$109 | doesn't fit | doesn't fit |
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 42 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 | |
|---|---|---|---|---|---|---|---|---|
| Deribit SILVER_USDC-PERPETUAL | −0.0356% | 1h | 66.000 | −0.041% | $75K | $361K | 20x | as long as short |
| Nado XAG-PERP | −0.0002% | 1h | 65.980 | −0.071% | $1.3M | $6.5M | 10x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 65.932 | −0.144% | $14K | — | 5x | as long as short |
| Bybit XAGUSDT | 0.0000% | 4h | 65.960 | −0.101% | $25.7M | $36.4M | 150x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.000 | −0.041% | $147.1M | $185.4M | 100x | as long as short |
| Bullet SILVER-USD | 0.0000% | 1h | 66.004 | −0.035% | $44K | $74K | 10x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.990 | −0.056% | $2K | $3.4M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.010 | −0.026% | $1.0M | $1.2M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.030 | +0.005% | $1.5M | $249K | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0014% | 1h | 65.984 | −0.065% | $79K | $40K | 10x | as long as short |
Deribit SILVER_USDC-PERPETUAL
Nado XAG-PERP
dYdX XAG-USD
Bybit XAGUSDT
Gate XAG_USDT
Bullet SILVER-USD
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
Aftermath Perps XAGUSDShow all 42 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter XAG | +0.0032% | 1h | 66.006 | −0.032% | $5.1M | $11.5M | 25x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.006 | −0.032% | $4.4M | $10.0M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.032 | +0.008% | $5.3M | $14.8M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +0.565% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.030 | +0.005% | $790K | $2.8M | 40x | as long as short |
| BloFin XAG-USDT | +0.0041% | 4h | 66.020 | −0.011% | $2.6M | $1.2M | 100x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.502 | +0.719% | — | — | 25x | as long as short |
| Aster XAGUSDT | +0.0049% | 4h | 66.036 | +0.013% | $2.8M | $1.1M | 100x | as long as short |
| tradeXYZ xyz:SILVER | +0.0050% | 1h | 65.992 | −0.053% | $164.4M | $94.8M | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.985 | −0.064% | $3.9M | $743K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.985 | −0.064% | $4K | $5K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 65.910 | −0.177% | $5.4M | $9.7M | 25x | as long as short |
| Kalshi KXSILVERPERP | +0.0055% | 24h | 65.886 | −0.214% | $637K | $21.8M | 8.1x | as long as short |
| Bitget XAGUSDT | +0.0060% | 4h | 65.990 | −0.056% | $23.7M | $52.6M | 100x | as long as short |
| Phoenix SILVERlong | +0.0073% | 1h | 66.027 | long leg | $56K | $26K | 25x | |
| QFEX SILVER-USD | +0.0080% | 1h | 66.020 | −0.011% | $143K | $2.8M | 20x | as long as short |
| GRVT XAG_USDT_Perp | +0.0092% | 4h | 66.058 | +0.046% | $390K | $1.6M | 25x | as long as short |
| Binance XAGUSDT | +0.0094% | 4h | 65.967 | −0.091% | $190.2M | $798.4M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0096% | 4h | 66.000 | −0.041% | $122.7M | $192.5M | 1000x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 65.947 | −0.120% | $472K | $645K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.980 | −0.071% | $24.2M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.050 | +0.035% | $112K | $85K | 50x | as long as short |
| Aevo XAG-PERP | +0.0104% | 1h | 66.032 | +0.007% | $47K | — | 10x | as long as short |
| Paradex XAG-USD-PERP | +0.0104% | 8h | 66.013 | −0.021% | $30K | $1K | 5x | as long as short |
| Variational Omni XAG | +0.0107% | 4h | 66.053 | +0.040% | $5.3M | $11.4M | — | as long as short |
| edgeX XAGUSDC | +0.0126% | 4h | 66.054 | +0.041% | $670K | $314K | 30x | as long as short |
| OKX XAG-USDT-SWAP | +0.0155% | 8h | 65.950 | −0.117% | $27.4M | $69.9M | 50x | as long as short |
| Coinbase International SILVER-PERP-INTXshort | +0.0200% | 1h | 65.880 | −0.223% | $1.9M | $1.2M | 20x | |
| Hotstuff SILVER-PERP | +0.0320% | 1h | 65.994 | −0.050% | $35K | $21K | 20x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0391% / S −0.0419% | 1h | 66.005 | −0.033% | $102K | — | 29x | as long as short |
| RISEx XAG/USDC | +0.0432% | 1h | 66.007 | −0.030% | $1.3M | $4.4M | 20x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0615% | 1h | 65.941 | −0.130% | $774K | $616K | 25x | as long as short |
Lighter XAG
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USD
BloFin XAG-USDT
Vest SI-PERP
Aster XAGUSDT
tradeXYZ xyz:SILVER
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
Kalshi KXSILVERPERP
Bitget XAGUSDT
QFEX SILVER-USD
GRVT XAG_USDT_Perp
Binance XAGUSDT
MEXC SILVER_USDT
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Aevo XAG-PERP
Paradex XAG-USD-PERP
Variational Omni XAG
edgeX XAGUSDC
OKX XAG-USDT-SWAP
Hotstuff SILVER-PERP
GMX SILVER/USD [ETH-USDC]
RISEx XAG/USDC
Kraken Futures PF_XAGUSD