Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0014%/8h= +1.5% APRpaid last 24h −0.022%

Price spread now: Phoenix against Binance−0.090%7-day average — · you buy dearer than you sell

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

Long on Binance Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.090% cheaper against Binance than usual: you would sell low and buy high (spread −0.090% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 22 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.063% in total) that is about 10.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	65.604	0.0108	pay 0.0054% / 4h	1h 45m	$191.3M	$864.1M	100x
Short	Phoenix SILVER	65.545	0.0122	get 0.0015% / 1h	45m 21s	$55K	$14K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Binance. 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 BinancebpFee PhoenixbpOrdersPrice spread, now −0.090%Rate

Funding earned: $2.91
Price spread: −0.090% → 0.000%: −$8.96
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$23.04
Costs to cover: 0.170%
Break-even: 62.4 days

Slippage unknown: Binance: live order book, 7 min ago; Phoenix: no order-book sample. 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 Binance live order book, 7 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	9.4 bp −$942	24.9 bp −$12.4K
Sell Phoenix no order-book sample	—	—	—	—	—

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 exchanges

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
Hotstuff SILVER-PERP	−3.2000%	1h	65.532	−0.109%	$36K	$23K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.525	−0.119%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.620	+0.025%	$138.3M	$204.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.590	−0.021%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.630	+0.040%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.610	+0.010%	$1.5M	$252K	100x	as long as short
Ondo Perps XAG-USD.P	+0.0001%	1h	65.480	−0.189%	$5.7M	$11.0M	25x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.605	+0.002%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.568	−0.055%	$4.6M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.513	−0.139%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.527%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.640	+0.055%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.021	+0.636%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.565	−0.059%	$3.8M	$893K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.526	−0.119%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.580	−0.036%	$446K	$1.4M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.560	−0.067%	$77K	$414K	20x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	65.549	−0.083%	$29K	$166	5x	as long as short
tradeXYZ xyz:SILVER	+0.0059%	1h	65.574	−0.045%	$174.4M	$94.1M	25x	as long as short
Variational Omni XAG	+0.0081%	4h	65.578	−0.039%	$5.7M	$9.1M	—	as long as short
Kalshi KXSILVERPERP	+0.0100%	24h	65.598	−0.009%	$718K	$38.7M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.508	−0.146%	$466K	$567K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.560	−0.067%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.620	+0.025%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.690	+0.131%	$1.6M	$1.9M	20x	as long as short
Aster XAGUSDT	+0.0105%	4h	65.570	−0.051%	$2.7M	$1.1M	100x	as long as short
Binance XAGUSDTlong	+0.0108%	4h	65.604	long leg	$191.3M	$864.1M	100x
MEXC SILVER_USDT	+0.0108%	4h	65.600	−0.006%	$121.8M	$163.2M	1000x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.592	−0.019%	$47K	—	10x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.580	−0.037%	$1.2M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0117%	4h	65.620	+0.025%	$30.6M	$48.2M	150x	as long as short
Phoenix SILVERshort	+0.0122%	1h	65.545	−0.090%	$55K	$14K	25x
GRVT XAG_USDT_Perp	+0.0130%	4h	65.656	+0.080%	$396K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0130%	4h	65.649	+0.068%	$669K	$315K	30x	as long as short
Nado XAG-PERP	+0.0141%	1h	65.559	−0.067%	$1.2M	$3.6M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.560	−0.066%	$5.1M	$11.6M	25x	as long as short
Bullet SILVER-USD	+0.0209%	1h	65.614	+0.016%	$44K	$73K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0212%	8h	65.610	+0.010%	$27.9M	$85.7M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.596	−0.011%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0240%	4h	65.600	−0.006%	$23.1M	$52.8M	100x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	65.607	+0.005%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0270% / S −0.0238%	1h	65.615	+0.017%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0350%	4h	65.680	+0.116%	$2.7M	$772K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0548%	1h	65.563	−0.063%	$1.0M	$943K	25x	as long as short