Funding you earn now, next payment 01:00 UTC+0.0303%/8h= +33.2% APRnext payment +$0.38 per $10,000 · paid last 24h +0.073%
Price spread now: Deribit against Phoenix+0.033%70s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.033% dearer against Phoenix than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 70 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 | 66.508 | 0.0048 | pay 0.0006% / 1h | 48m 12s | $56K | $26K | 25x |
| Short | Deribit SILVER_USDC-PERPETUAL | 66.530 | 0.0352 | get 0.0044% / 1h | 48m 12s | $50K | $331K | 20x |
Phoenix SILVER
Deribit SILVER_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $63.73
- Price spread: +0.033% → 0.000%
- $3.31
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $53.04
- Costs to cover
- 0.140%
- Break-even
- 1.2 days
Slippage unknown: Phoenix: no order-book sample; Deribit: live order book, 20 min ago. 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 Deribit live order book, 20 min ago | 0.75 bp | 10.2 bp −$10 | 10.6 bp −$106 | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff SILVER-PERP | −0.0064% | 1h | 66.557 | +0.074% | $35K | $21K | 20x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 66.486 | −0.033% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.550 | +0.063% | $154.8M | $161.1M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.560 | +0.078% | $2K | $2.8M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.570 | +0.093% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.570 | +0.093% | $1.5M | $250K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.479 | −0.043% | $120K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.546 | +0.057% | $4.8M | $9.4M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.481 | −0.040% | $5.4M | $12.5M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | −0.162% | $11K | $94K | 52x | as long as short |
Hotstuff SILVER-PERP
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX XAG-USD | +0.0040% | 1h | 66.590 | +0.123% | $801K | $2.9M | 40x | as long as short |
| Bybit XAGUSDT | +0.0045% | 4h | 66.590 | +0.123% | $26.4M | $36.0M | 150x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.989 | +0.723% | — | — | 25x | as long as short |
| Phoenix SILVERlong | +0.0048% | 1h | 66.508 | long leg | $56K | $26K | 25x | |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.558 | +0.075% | $3.9M | $669K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.484 | −0.036% | $3K | $5K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 66.490 | −0.027% | $5.7M | $9.6M | 25x | as long as short |
| QFEX SILVER-USD | +0.0054% | 1h | 66.580 | +0.108% | $115K | $2.7M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0060% | 24h | 66.543 | +0.053% | $566K | $23.0M | 8.1x | as long as short |
| RISEx XAG/USDC | +0.0079% | 1h | 66.600 | +0.138% | $1.3M | $4.3M | 20x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.540 | +0.048% | $474K | $610K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.520 | +0.018% | $24.6M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.580 | +0.108% | $127K | $23K | 50x | as long as short |
| tradeXYZ xyz:SILVER | +0.0100% | 1h | 66.518 | +0.015% | $166.1M | $79.2M | 25x | as long as short |
| BloFin XAG-USDT | +0.0103% | 4h | 66.570 | +0.093% | $2.6M | $624K | 100x | as long as short |
| Aster XAGUSDT | +0.0110% | 4h | 66.540 | +0.048% | $2.8M | $1.0M | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0119% | 8h | 66.590 | +0.124% | $30K | $1K | 5x | as long as short |
| Variational Omni XAG | +0.0120% | 4h | 66.595 | +0.130% | $5.6M | $9.7M | — | as long as short |
| Aevo XAG-PERP | +0.0136% | 1h | 66.544 | +0.054% | $48K | — | 10x | as long as short |
| MEXC SILVER_USDT | +0.0138% | 4h | 66.550 | +0.063% | $108.4M | $156.6M | 1000x | as long as short |
| Binance XAGUSDT | +0.0139% | 4h | 66.560 | +0.078% | $193.0M | $712.2M | 100x | as long as short |
| edgeX XAGUSDC | +0.0140% | 4h | 66.508 | +0.001% | $675K | $314K | 30x | as long as short |
| Lighter XAG | +0.0168% | 1h | 66.553 | +0.068% | $5.4M | $10.4M | 25x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0184% | 1h | 66.550 | +0.063% | $1.9M | $965K | 20x | as long as short |
| OKX XAG-USDT-SWAP | +0.0194% | 8h | 66.550 | +0.063% | $28.1M | $66.4M | 50x | as long as short |
| GRVT XAG_USDT_Perp | +0.0210% | 4h | 66.560 | +0.078% | $397K | $1.5M | 25x | as long as short |
| Bitget XAGUSDT | +0.0212% | 4h | 66.560 | +0.078% | $24.5M | $46.2M | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0216% | 1h | 66.541 | +0.049% | $80K | $39K | 10x | as long as short |
| Nado XAG-PERP | +0.0217% | 1h | 66.543 | +0.053% | $1.3M | $6.5M | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0280% | 1h | 66.528 | +0.030% | $20K | $22K | 10x | as long as short |
| Bullet SILVER-USD | +0.0283% | 1h | 66.564 | +0.085% | $45K | $76K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0292% / S −0.0281% | 1h | 66.555 | +0.071% | $103K | — | 111x | as long as short |
| Deribit SILVER_USDC-PERPETUALshort | +0.0352% | 1h | 66.530 | +0.033% | $50K | $331K | 20x | |
| Kraken Futures PF_XAGUSD | +0.0461% | 1h | 66.521 | +0.020% | $767K | $546K | 25x | as long as short |
StandX XAG-USD
Bybit XAGUSDT
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
QFEX SILVER-USD
Kalshi KXSILVERPERP
RISEx XAG/USDC
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
tradeXYZ xyz:SILVER
BloFin XAG-USDT
Aster XAGUSDT
Paradex XAG-USD-PERP
Variational Omni XAG
Aevo XAG-PERP
MEXC SILVER_USDT
Binance XAGUSDT
edgeX XAGUSDC
Lighter XAG
Coinbase International SILVER-PERP-INTX
OKX XAG-USDT-SWAP
GRVT XAG_USDT_Perp
Bitget XAGUSDT
Aftermath Perps XAGUSD
Nado XAG-PERP
Hibachi XAG/USDT-P
Bullet SILVER-USD
GMX SILVER/USD [ETH-USDC]
Kraken Futures PF_XAGUSD