Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0171%/8h= −18.7% APRpaid last 24h −0.039%

Price spread now: BloFin against GMX+0.008%51s7-day average −0.004% · you sell dearer than you buy

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

Long on GMX Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.339%−$34 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.008%, 7d avg −0.004%

Together, before fees−0.332%−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.004%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate. The two prices were read 51 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	GMX SILVER/USD [ETH-USDC]	66.115	L +0.0383% / S −0.0424%	pay 0.0048% / 1h	10m 10s	$103K	—	111x
Short	BloFin XAG-USDT	66.120	0.0212	get 0.0106% / 4h	10m 10s	$2.6M	$554K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against GMX. 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 GMXbpFee BloFinbpOrdersPrice spread, now +0.008%Rate

Funding earned: −$35.96
Price spread: +0.008% → −0.004%: $1.2
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$58.76
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 3 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 GMX no order-book sample	—	—	—	—	—
Sell BloFin live order book, 3 min ago	0.76 bp	6.8 bp −$7	6.8 bp −$68	8.4 bp −$844	15.4 bp −$7,686

GMX: 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	66.018	−0.147%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.110	−0.008%	$150.1M	$163.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.100	−0.023%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.023%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.140	+0.038%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.028	−0.132%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.093	−0.033%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.025	−0.136%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.431%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.070	−0.068%	$795K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0044%	1h	65.960	−0.234%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.514	+0.603%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.027	−0.133%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.061	−0.082%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.021	−0.142%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.090	−0.038%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.025	−0.136%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.057	−0.088%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.029	−0.130%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.050	−0.098%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	−0.083%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0126%	1h	66.063	−0.079%	$166.0M	$74.4M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.077	−0.058%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0141%	8h	66.078	−0.056%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0144%	4h	66.080	−0.053%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0168%	4h	66.130	+0.023%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.088	−0.041%	$5.2M	$10.7M	25x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.097	−0.027%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.144%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	−0.079%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0210%	4h	66.100	−0.023%	$110.5M	$153.0M	1000x	as long as short
BloFin XAG-USDTshort	+0.0212%	4h	66.120	+0.008%	$2.6M	$554K	100x
Binance XAGUSDT	+0.0212%	4h	66.116	+0.002%	$192.8M	$700.1M	100x	as long as short
Nado XAG-PERP	+0.0213%	1h	66.029	−0.131%	$1.4M	$6.4M	10x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	−0.069%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0222%	4h	66.092	−0.034%	$671K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	66.110	−0.008%	$27.7M	$65.0M	50x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.100	−0.023%	$23.8M	$45.4M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.094	−0.032%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0289%	1h	66.104	−0.017%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.080	−0.053%	$75K	$362K	20x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.020	−0.144%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0383% / S −0.0424%	1h	66.115	long leg	$103K	—	111x
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.070	−0.068%	$912K	$683K	25x	as long as short