Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0073%/8h= −8.0% APRpaid last 24h −0.009%

Price spread now: Gate against Phoenix−0.011%62s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 62 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	22m 09s	$56K	$26K	25x
Short	Gate XAG_USDT	66.020	0	get 0.0000% / 4h	2h 22m	$147.4M	$184.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phoenix. 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 PhoenixbpFee GatebpOrdersPrice spread, now −0.011%Rate

Funding earned: −$15.26
Price spread: −0.011% → 0.000%: −$1.06
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$38.32
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 2 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 Gate live order book, 2 min ago	0.76 bp	8.3 bp −$8	11.7 bp −$117	13.7 bp −$1,373	19.2 bp −$9,607

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 43 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	65.992	−0.053%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.040	+0.020%	$25.8M	$36.9M	150x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.020	−0.011%	$147.4M	$184.7M	100x
SunX XAG-USDT	0.0000%	4h	66.020	−0.011%	$2K	$3.4M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	0.0000%	1h	66.040	+0.020%	$91K	$360K	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.050	+0.035%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.050	+0.035%	$1.5M	$250K	100x	as long as short
Aftermath Perps XAGUSD	+0.0021%	1h	66.009	−0.028%	$79K	$40K	10x	as long as short
Ondo Perps XAG-USD.P	+0.0028%	1h	65.970	−0.086%	$5.5M	$9.8M	25x	as long as short
Nado XAG-PERP	+0.0029%	1h	66.028	+0.001%	$1.3M	$6.6M	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter XAG	+0.0032%	1h	66.016	−0.017%	$5.1M	$11.5M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.022	−0.008%	$4.4M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.038	+0.016%	$5.3M	$15.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.565%	$11K	$94K	52x	as long as short
Bullet SILVER-USD	+0.0036%	1h	66.038	+0.016%	$44K	$74K	10x	as long as short
StandX XAG-USD	+0.0040%	1h	65.970	−0.086%	$715K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.500	+0.716%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.015	−0.018%	$164.7M	$96.3M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.004	−0.035%	$3.9M	$743K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.013	−0.021%	$4K	$5K	20x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	65.968	−0.089%	$637K	$21.8M	8.1x	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
Pacifica XAG	+0.0100%	1h	66.031	+0.006%	$472K	$647K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.010	−0.026%	$24.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.020	−0.011%	$112K	$85K	50x	as long as short
Aster XAGUSDT	+0.0121%	4h	66.044	+0.026%	$2.8M	$1.2M	100x	as long as short
Paradex XAG-USD-PERP	+0.0128%	8h	66.038	+0.017%	$30K	$1K	5x	as long as short
Bitget XAGUSDT	+0.0154%	4h	66.030	+0.005%	$23.7M	$53.0M	100x	as long as short
Aevo XAG-PERP	+0.0160%	1h	66.035	+0.012%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0164%	4h	66.037	+0.014%	$191.6M	$803.8M	100x	as long as short
MEXC SILVER_USDT	+0.0168%	4h	66.040	+0.020%	$122.0M	$192.2M	1000x	as long as short
BloFin XAG-USDT	+0.0174%	4h	65.970	−0.086%	$2.6M	$1.2M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.030	+0.005%	$27.5M	$70.2M	50x	as long as short
Variational Omni XAG	+0.0196%	4h	66.013	−0.022%	$5.3M	$12.2M	—	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.000	−0.041%	$1.9M	$1.2M	20x	as long as short
edgeX XAGUSDC	+0.0229%	4h	65.952	−0.113%	$669K	$314K	30x	as long as short
Hotstuff SILVER-PERP	+0.0288%	1h	66.015	−0.018%	$35K	$21K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0298%	4h	65.969	−0.087%	$398K	$1.7M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0384% / S −0.0408%	1h	66.035	+0.012%	$102K	—	29x	as long as short
RISEx XAG/USDC	+0.0432%	1h	66.040	+0.020%	$1.3M	$4.3M	20x	as long as short
Hibachi XAG/USDT-P	+0.0560%	1h	66.030	+0.004%	$20K	$22K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0615%	1h	65.981	−0.070%	$774K	$628K	25x	as long as short