XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h +0.004%

Price spread now: QFEX against Phoenix−0.074%52s7-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 QFEX

What this pair did over the last

the charts below follow

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and QFEX is 0.074% cheaper against Phoenix than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	64.908	0.0111	pay 0.0014% / 1h	32m 06s	$55K	$31K	25x
Short	QFEX SILVER-USD	64.860	0.0047	get 0.0006% / 1h	32m 06s	$447K	$1.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now −0.074%Rate

Funding earned: −$13.49
Price spread: −0.074% → 0.000%: −$7.4
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$37.89
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; QFEX: 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 QFEX live order book, 5 min ago	1.54 bp	7.9 bp −$8	8.1 bp −$81	8.1 bp −$808	12.3 bp −$6,161

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	64.799	−0.169%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	64.870	−0.059%	$138.5M	$184.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	64.870	−0.059%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	64.890	−0.028%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	64.880	−0.043%	$1.5M	$318K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.798	−0.170%	$117K	—	250x	as long as short
Variational Omni XAG	+0.0015%	4h	64.904	−0.006%	$5.3M	$9.1M	—	as long as short
Lighter RH XAG	+0.0032%	1h	64.862	−0.071%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.799	−0.168%	$5.0M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+2.299%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	64.850	−0.089%	$780K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.280	+0.573%	—	—	25x	as long as short
QFEX SILVER-USDshort	+0.0047%	1h	64.860	−0.074%	$447K	$1.5M	20x
Polymarket Perps SILVER-USD	+0.0050%	1h	64.799	−0.168%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.798	−0.169%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.760	−0.228%	$5.6M	$10.0M	25x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	64.850	−0.089%	$120.6M	$158.4M	1000x	as long as short
Binance XAGUSDT	+0.0056%	4h	64.840	−0.105%	$196.8M	$777.2M	100x	as long as short
edgeX XAGUSDC	+0.0061%	4h	64.915	+0.011%	$661K	$314K	30x	as long as short
Paradex XAG-USD-PERP	+0.0061%	8h	64.848	−0.093%	$29K	$166	5x	as long as short
Aevo XAG-PERP	+0.0072%	1h	64.856	−0.080%	$47K	—	10x	as long as short
Aster XAGUSDT	+0.0073%	4h	64.870	−0.059%	$2.6M	$996K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.810	−0.151%	$1.6M	$1.5M	20x	as long as short
Kalshi KXSILVERPERP	+0.0085%	24h	64.844	−0.099%	$484K	$34.5M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	64.841	−0.103%	$35K	$21K	20x	as long as short
Pacifica XAG	+0.0100%	1h	64.812	−0.148%	$462K	$592K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	64.830	−0.120%	$25.1M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.870	−0.059%	$111K	$19K	50x	as long as short
Phoenix SILVERlong	+0.0111%	1h	64.908	long leg	$55K	$31K	25x
tradeXYZ xyz:SILVER	+0.0135%	1h	64.817	−0.140%	$173.5M	$87.6M	25x	as long as short
GRVT XAG_USDT_Perp	+0.0152%	4h	64.934	+0.041%	$390K	$1.5M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	64.870	−0.059%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0159%	1h	64.802	−0.163%	$1.2M	$4.2M	10x	as long as short
Bitget XAGUSDT	+0.0192%	4h	64.850	−0.089%	$23.2M	$46.6M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	64.850	−0.089%	$28.7M	$73.4M	50x	as long as short
Bybit XAGUSDT	+0.0218%	4h	64.860	−0.074%	$29.3M	$42.6M	150x	as long as short
Aftermath Perps XAGUSD	+0.0219%	1h	64.853	−0.085%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0223%	4h	64.850	−0.089%	$2.7M	$653K	100x	as long as short
Lighter XAG	+0.0232%	1h	64.858	−0.076%	$5.3M	$11.0M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	64.865	−0.066%	$92K	—	111x	as long as short
Bullet SILVER-USD	+0.0301%	1h	64.866	−0.065%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	64.870	−0.059%	$20K	$15K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0367%	1h	64.850	−0.089%	$76K	$430K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0420%	1h	64.840	−0.104%	$1.0M	$890K	25x	as long as short