Funding you earn now, next payment 03:00 UTC+0.0220%/8h= +24.0% APRpaid last 24h +0.054%
Price spread now: GRVT against Phoenix+0.089%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.008%+$1 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GRVT is 0.089% dearer against Phoenix than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet).
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.008% in total (about 0.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix SILVER | 66.141 | 0.0060 | pay 0.0008% / 1h | 23m 32s | $56K | $26K | 25x |
| Short | GRVT XAG_USDT_Perp | 66.200 | 0.0280 | get 0.0140% / 4h | 23m 32s | $389K | $1.5M | 25x |
Phoenix SILVER
GRVT XAG_USDT_PerpFunding history
latest
Range statsloading…
Price spread between the two exchanges
GRVT 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
- $46.1
- Price spread: +0.089% → 0.000%
- $8.88
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee GRVT: 4.5 bp × 2 orders
- −$9
- Net
- $38.98
- Costs to cover
- 0.160%
- Break-even
- 1.1 days
Slippage unknown: Phoenix: no order-book sample; GRVT: live order book, 5 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 GRVT live order book, 5 min ago | 0.76 bp | 6.5 bp −$7 | 6.7 bp −$67 | 35.7 bp −$3,567 | 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX XAG-USD | 0.0000% | 1h | 66.086 | −0.083% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.210 | +0.104% | $150.2M | $163.4M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.180 | +0.059% | $2K | $2.7M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.220 | +0.119% | $1.0M | $971K | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.200 | +0.089% | $1.5M | $317K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.122 | −0.028% | $121K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.186 | +0.068% | $4.8M | $9.5M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.139 | −0.003% | $5.2M | $11.7M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +0.392% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.180 | +0.059% | $796K | $3.1M | 40x | as long as short |
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 PERP
StandX XAG-USDShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SI-PERP | +0.0046% | 1h | 66.641 | +0.756% | — | — | 25x | as long as short |
| Ondo Perps XAG-USD.P | +0.0048% | 1h | 66.060 | −0.122% | $5.7M | $9.6M | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.172 | +0.047% | $3.9M | $672K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.128 | −0.020% | $3K | $6K | 20x | as long as short |
| QFEX SILVER-USD | +0.0054% | 1h | 66.170 | +0.044% | $115K | $2.7M | 20x | as long as short |
| Hotstuff SILVER-PERP | +0.0056% | 1h | 66.154 | +0.020% | $35K | $21K | 20x | as long as short |
| Phoenix SILVERlong | +0.0060% | 1h | 66.141 | long leg | $56K | $26K | 25x | |
| Kalshi KXSILVERPERP | +0.0070% | 24h | 66.141 | 0.000% | $525K | $25.4M | 8.1x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.141 | 0.000% | $471K | $622K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.170 | +0.044% | $24.5M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.130 | −0.017% | $113K | $30K | 50x | as long as short |
| tradeXYZ xyz:SILVER | +0.0123% | 1h | 66.168 | +0.041% | $165.7M | $73.9M | 25x | as long as short |
| RISEx XAG/USDC | +0.0137% | 1h | 66.199 | +0.087% | $1.3M | $4.5M | 20x | as long as short |
| Aster XAGUSDT | +0.0145% | 4h | 66.180 | +0.059% | $2.7M | $877K | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0145% | 8h | 66.190 | +0.074% | $30K | $1K | 5x | as long as short |
| Bybit XAGUSDT | +0.0166% | 4h | 66.220 | +0.119% | $27.0M | $36.2M | 150x | as long as short |
| Lighter XAG | +0.0184% | 1h | 66.190 | +0.074% | $5.2M | $10.6M | 25x | as long as short |
| Aevo XAG-PERP | +0.0200% | 1h | 66.184 | +0.065% | $48K | — | 10x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0200% | 1h | 66.120 | −0.032% | $1.8M | $1.0M | 20x | as long as short |
| Nado XAG-PERP | +0.0200% | 1h | 66.151 | +0.015% | $1.3M | $6.4M | 10x | as long as short |
| Variational Omni XAG | +0.0208% | 4h | 66.193 | +0.078% | $5.6M | $9.7M | — | as long as short |
| MEXC SILVER_USDT | +0.0212% | 4h | 66.190 | +0.074% | $110.0M | $152.6M | 1000x | as long as short |
| Binance XAGUSDT | +0.0213% | 4h | 66.200 | +0.089% | $192.9M | $701.0M | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0220% | 1h | 66.144 | +0.004% | $80K | $37K | 10x | as long as short |
| OKX XAG-USDT-SWAP | +0.0232% | 8h | 66.200 | +0.089% | $27.8M | $65.4M | 50x | as long as short |
| edgeX XAGUSDC | +0.0234% | 4h | 66.167 | +0.039% | $671K | $311K | 30x | as long as short |
| BloFin XAG-USDT | +0.0254% | 4h | 66.170 | +0.044% | $2.6M | $554K | 100x | as long as short |
| Bitget XAGUSDT | +0.0258% | 4h | 66.200 | +0.089% | $23.8M | $45.5M | 100x | as long as short |
| GRVT XAG_USDT_Perpshort | +0.0280% | 4h | 66.200 | +0.089% | $389K | $1.5M | 25x | |
| Bullet SILVER-USD | +0.0294% | 1h | 66.197 | +0.085% | $44K | $76K | 10x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0355% | 1h | 66.180 | +0.059% | $62K | $348K | 20x | as long as short |
| Hibachi XAG/USDT-P | +0.0368% | 1h | 66.140 | −0.002% | $20K | $19K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0381% / S −0.0421% | 1h | 66.195 | +0.082% | $103K | — | 111x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0484% | 1h | 66.159 | +0.027% | $913K | $676K | 25x | as long as short |
Vest SI-PERP
Ondo Perps XAG-USD.P
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
QFEX SILVER-USD
Hotstuff SILVER-PERP
Kalshi KXSILVERPERP
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
tradeXYZ xyz:SILVER
RISEx XAG/USDC
Aster XAGUSDT
Paradex XAG-USD-PERP
Bybit XAGUSDT
Lighter XAG
Aevo XAG-PERP
Coinbase International SILVER-PERP-INTX
Nado XAG-PERP
Variational Omni XAG
MEXC SILVER_USDT
Binance XAGUSDT
Aftermath Perps XAGUSD
OKX XAG-USDT-SWAP
edgeX XAGUSDC
BloFin XAG-USDT
Bitget XAGUSDT
Bullet SILVER-USD
Deribit SILVER_USDC-PERPETUAL
Hibachi XAG/USDT-P
GMX SILVER/USD [ETH-USDC]
Kraken Futures PF_XAGUSD