XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0061%/8h= +6.7% APRnext payment +$0.08 per $10,000 · paid last 24h +0.019%

Price spread now: Deribit against GMX−0.098%54s7-day average −0.022% · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.120%−$12 on $10k

Price spread, last 3 days (all we have)+0.075%+$8 · spread now −0.098%, 7d avg −0.022%

Together, before fees−0.045%−$5 on $10k · with fees, hour by hour

Funding pays, the price is against you. Deribit is 0.076% cheaper against GMX than usual: you would sell low and buy high (spread −0.098% now, against its 7-day average of −0.022%). If the spread goes back, that is −$8 on $10k: about 4.1 days of funding at the current rate (+$2 a day). Mind the row above: over the last 3 days funding on this pair cost −0.120%, so the current rate has only just turned in your favour. The two prices were read 54 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]	66.465	L +0.0292% / S −0.0281%	pay 0.0036% / 1h	56m 26s	$103K	—	111x
Short	Deribit SILVER_USDC-PERPETUAL	66.400	0.0353	get 0.0044% / 1h	56m 26s	$50K	$331K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.098%Rate

Funding earned: $12.81
Price spread: −0.098% → −0.022%: −$7.58
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$13.77
Costs to cover: 0.190%
Break-even: 14.5 days

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 12 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 Deribit live order book, 12 min ago	0.75 bp	10.2 bp −$10	10.6 bp −$106	doesn't fit	doesn't fit

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	66.388	−0.116%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.530	+0.098%	$26.0M	$35.9M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.520	+0.083%	$154.6M	$159.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.420	−0.068%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.430	−0.053%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.470	+0.008%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.396	−0.103%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.439	−0.040%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.430	−0.053%	$5.4M	$12.5M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.373	−0.138%	$35K	$21K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.098%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.430	−0.053%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.907	+0.665%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.369	−0.144%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.400	−0.098%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.449	−0.024%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.342	−0.185%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.450	−0.023%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.384	−0.122%	$549K	$23.0M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0077%	1h	66.429	−0.054%	$165.8M	$85.2M	25x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.509	+0.066%	$1.2M	$4.3M	20x	as long as short
Aster XAGUSDT	+0.0098%	4h	66.470	+0.008%	$2.8M	$1.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.446	−0.029%	$473K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.450	−0.023%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.390	−0.113%	$126K	$23K	50x	as long as short
Variational Omni XAG	+0.0108%	4h	66.543	+0.118%	$5.6M	$9.8M	—	as long as short
Paradex XAG-USD-PERP	+0.0113%	8h	66.459	−0.008%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0123%	4h	66.509	+0.066%	$675K	$316K	30x	as long as short
MEXC SILVER_USDT	+0.0126%	4h	66.470	+0.008%	$108.2M	$156.0M	1000x	as long as short
Binance XAGUSDT	+0.0126%	4h	66.487	+0.033%	$193.4M	$715.2M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.406	−0.089%	$48K	—	10x	as long as short
Lighter XAG	+0.0152%	1h	66.454	−0.017%	$5.3M	$10.4M	25x	as long as short
BloFin XAG-USDT	+0.0158%	4h	66.470	+0.008%	$2.6M	$663K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.380	−0.128%	$1.9M	$962K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	66.454	−0.016%	$402K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.480	+0.023%	$28.0M	$66.7M	50x	as long as short
Bitget XAGUSDT	+0.0200%	4h	66.490	+0.038%	$24.5M	$46.4M	100x	as long as short
Aftermath Perps XAGUSD	+0.0209%	1h	66.470	+0.008%	$80K	$39K	10x	as long as short
Nado XAG-PERP	+0.0226%	1h	66.465	−0.001%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0261%	1h	66.466	+0.002%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0292% / S −0.0281%	1h	66.465	long leg	$103K	—	111x
Hibachi XAG/USDT-P	+0.0304%	1h	66.370	−0.143%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0353%	1h	66.400	−0.098%	$50K	$331K	20x
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.377	−0.133%	$765K	$552K	25x	as long as short