XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0116%/8h= −12.7% APRnext payment −$0.58 per $10,000 · paid last 24h −0.020%

Price spread now: Phemex against Bybit+0.015%53s7-day average +0.027% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$350.346% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.095%+$10 · spread now +0.015%, 7d avg +0.027%

Together, before fees+0.056%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.027%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate. The two prices were read 53 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	Bybit XAGUSDT	65.620	0.0116	pay 0.0058% / 4h	1h 43m	$30.6M	$48.2M	150x
Short	Phemex XAGUSDT	65.630	0	get 0.0000% / 4h	1h 43m	$1.5M	$252K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$24.29
Price spread: +0.015% → +0.027%: −$1.14
Slippage, 4 orders: −$11.64
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.07
Costs to cover: 0.346%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Phemex: live order book, 2 min ago.

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 Bybit live order book, 4 min ago	0.76 bp	6.3 bp −$6	8.2 bp −$82	12.8 bp −$1,278	56.4 bp −$28.2K
Sell Phemex live order book, 2 min ago	0.76 bp	9.8 bp −$10	16.4 bp −$164	doesn't fit	doesn't fit

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	−0.134%	$36K	$23K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0002%	1h	65.490	−0.198%	$5.7M	$11.0M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.525	−0.144%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.620	0.000%	$138.3M	$204.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.610	−0.015%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.630	+0.015%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.630	+0.015%	$1.5M	$252K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.566	−0.082%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.602	−0.028%	$4.6M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.550	−0.106%	$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	−1.551%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.590	−0.046%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.035	+0.632%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.571	−0.075%	$3.8M	$893K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.551	−0.105%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.590	−0.046%	$446K	$1.4M	20x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	65.586	−0.052%	$29K	—	5x	as long as short
tradeXYZ xyz:SILVER	+0.0059%	1h	65.576	−0.067%	$174.3M	$94.1M	25x	as long as short
Variational Omni XAG	+0.0081%	4h	65.578	−0.064%	$5.7M	$9.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	65.542	−0.119%	$466K	$567K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.580	−0.061%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.590	−0.046%	$112K	$19K	50x	as long as short
Kalshi KXSILVERPERP	+0.0100%	24h	65.594	−0.040%	$718K	$38.7M	8.1x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.591	−0.044%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.690	+0.107%	$1.6M	$1.9M	20x	as long as short
Aster XAGUSDT	+0.0104%	4h	65.600	−0.030%	$2.7M	$1.1M	100x	as long as short
Binance XAGUSDT	+0.0105%	4h	65.608	−0.018%	$191.3M	$864.2M	100x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	65.610	−0.015%	$110.6M	$163.3M	1000x	as long as short
edgeX XAGUSDC	+0.0115%	4h	65.564	−0.085%	$668K	$315K	30x	as long as short
Bybit XAGUSDTlong	+0.0116%	4h	65.620	long leg	$30.6M	$48.2M	150x
RISEx XAG/USDC	+0.0116%	1h	65.606	−0.021%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0122%	1h	65.545	−0.114%	$55K	$14K	25x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	65.656	+0.055%	$396K	$1.5M	25x	as long as short
Nado XAG-PERP	+0.0138%	1h	65.571	−0.075%	$1.2M	$3.6M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.601	−0.029%	$5.1M	$11.6M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.600	−0.030%	$77K	$414K	20x	as long as short
Bullet SILVER-USD	+0.0208%	1h	65.616	−0.006%	$45K	$73K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0210%	8h	65.600	−0.030%	$27.9M	$85.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0224%	1h	65.609	−0.017%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0238%	4h	65.610	−0.015%	$23.2M	$52.7M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	65.554	−0.100%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0270% / S −0.0238%	1h	65.615	−0.008%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0349%	4h	65.590	−0.046%	$2.7M	$771K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0548%	1h	65.581	−0.059%	$1.0M	$943K	25x	as long as short