Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0133%/8h= +14.6% APRpaid last 24h +0.032%

Price spread now: OKX against Phoenix+0.116%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 OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

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 +$4 a day on $10k at the current rate, and OKX is 0.116% dearer against Phoenix than usual: you sell high and buy low: +$12 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.058%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SILVER	66.303	0.0084	pay 0.0011% / 1h	52m 57s	$56K	$26K	25x
Short	OKX XAG-USDT-SWAP	66.380	0.0217	get 0.0217% / 8h	5h 52m	$27.9M	$65.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.116%Rate

Funding earned: $27.91
Price spread: +0.116% → 0.000%: $11.61
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: $22.53
Costs to cover: 0.170%
Break-even: 1.4 days

Slippage unknown: Phoenix: no order-book sample; OKX: 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 OKX live order book, 1 min ago	0.75 bp	5.8 bp −$6	6.6 bp −$66	12.3 bp −$1,229	71.6 bp −$35.8K

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	66.294	−0.014%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	+0.131%	$152.4M	$161.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.380	+0.116%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.410	+0.161%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.380	+0.116%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.305	+0.003%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.353	+0.075%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.306	+0.004%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.146%	$11K	$94K	52x	as long as short
Ondo Perps XAG-USD.P	+0.0034%	1h	66.260	−0.065%	$5.7M	$9.7M	25x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.390	+0.131%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.808	+0.762%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.341	+0.057%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.304	+0.002%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.360	+0.086%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.324	+0.032%	$544K	$24.5M	8.1x	as long as short
Phoenix SILVERlong	+0.0084%	1h	66.303	long leg	$56K	$26K	25x
Pacifica XAG	+0.0100%	1h	66.316	+0.020%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	+0.041%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.041%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0101%	1h	66.343	+0.060%	$166.0M	$74.7M	25x	as long as short
Paradex XAG-USD-PERP	+0.0140%	8h	66.368	+0.098%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0143%	4h	66.376	+0.110%	$2.7M	$925K	100x	as long as short
Bybit XAGUSDT	+0.0148%	4h	66.390	+0.131%	$26.7M	$36.2M	150x	as long as short
Lighter XAG	+0.0160%	1h	66.364	+0.091%	$5.3M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.373	+0.106%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.354	+0.077%	$5.5M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.381	+0.117%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.370	+0.101%	$111.6M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.071%	$1.9M	$972K	20x	as long as short
Binance XAGUSDT	+0.0193%	4h	66.380	+0.116%	$192.3M	$706.7M	100x	as long as short
edgeX XAGUSDC	+0.0212%	4h	66.351	+0.072%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAPshort	+0.0217%	8h	66.380	+0.116%	$27.9M	$65.7M	50x
Aftermath Perps XAGUSD	+0.0232%	1h	66.341	+0.057%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.320	+0.026%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0241%	1h	66.323	+0.031%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.380	+0.116%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.387	+0.127%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.410	+0.161%	$399K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0330% / S −0.0340%	1h	66.375	+0.109%	$103K	—	111x	as long as short
Hotstuff SILVER-PERP	+0.0344%	1h	66.376	+0.110%	$35K	$21K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	+0.071%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.333	+0.046%	$765K	$475K	25x	as long as short