Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.011%

Price spread now: HTX against Phoenix+0.096%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.130%−$13 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. HTX is 0.096% dearer against Phoenix than usual: you sell high and buy low (spread +0.096% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SILVER	65.347	0.0061	pay 0.0008% / 1h	22m 53s	$56K	$31K	25x
Short	HTX XAG-USDT	65.410	0	get 0.0000% / 4h	1h 22m	$1.1M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.096%Rate

Funding earned: −$12.81
Price spread: +0.096% → 0.000%: $9.64
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$22.17
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; HTX: live order book, 1 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 HTX live order book, 1 min ago	3.82 bp	10.7 bp −$11	11.3 bp −$113	14.1 bp −$1,410	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
Hibachi XAG/USDT-P	−0.0160%	1h	65.311	−0.055%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0087%	1h	65.260	−0.133%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.295	−0.079%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.420	+0.112%	$27.9M	$40.0M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	+0.066%	$2K	$2.6M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	65.410	+0.096%	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	65.390	+0.066%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.321	−0.040%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0026%	4h	65.420	+0.112%	$141.2M	$182.8M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.376	+0.044%	$4.6M	$9.8M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.342	−0.008%	$5.1M	$11.5M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	65.339	−0.012%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.611%	$11K	$94K	52x	as long as short
Variational Omni XAG	+0.0035%	4h	65.364	+0.025%	$5.5M	$9.4M	—	as long as short
Aster XAGUSDT	+0.0038%	4h	65.410	+0.096%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.360	+0.020%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.793	+0.683%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.370	+0.035%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.374	+0.041%	$170.4M	$83.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.340	−0.011%	$3.8M	$718K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.323	−0.037%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	65.369	+0.034%	$29K	$1K	5x	as long as short
Binance XAGUSDT	+0.0058%	4h	65.412	+0.100%	$191.1M	$763.8M	100x	as long as short
MEXC SILVER_USDT	+0.0060%	4h	65.390	+0.066%	$116.2M	$157.5M	1000x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.384	+0.056%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVERlong	+0.0061%	1h	65.347	long leg	$56K	$31K	25x
edgeX XAGUSDC	+0.0066%	4h	65.342	−0.008%	$665K	$312K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.366	+0.029%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.359	+0.018%	$517K	$31.0M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.333	−0.022%	$467K	$624K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.380	+0.050%	$25.4M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.290	−0.087%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.363	+0.024%	$385K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.320	−0.041%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0129%	1h	65.340	−0.010%	$1.2M	$5.3M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.380	+0.050%	$5.4M	$11.4M	25x	as long as short
Bitget XAGUSDT	+0.0174%	4h	65.420	+0.112%	$23.8M	$46.4M	100x	as long as short
Bullet SILVER-USD	+0.0179%	1h	65.379	+0.049%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.410	+0.096%	$28.0M	$70.8M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.370	+0.035%	$65K	$379K	20x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	65.347	0.000%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0233%	4h	65.380	+0.050%	$2.6M	$601K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.375	+0.043%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.350	+0.005%	$916K	$746K	25x	as long as short