Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: Hibachi against GMX−0.144%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Hibachi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hibachi is 0.144% cheaper against GMX than usual: you would sell low and buy high, −$14 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SILVER/USD [ETH-USDC]	66.155	L +0.0376% / S −0.0411%	pay 0.0047% / 1h	32m 50s	$103K	—	111x
Short	Hibachi XAG/USDT-P	66.060	0.0376	get 0.0047% / 1h	32m 50s	$20K	$19K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hibachi 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 HibachibpOrdersPrice spread, now −0.144%Rate

Funding earned: −$0.01
Price spread: −0.144% → 0.000%: −$14.36
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Hibachi: 4.5 bp × 2 orders: −$9
Net: −$35.37
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Hibachi: 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 GMX no order-book sample	—	—	—	—	—
Sell Hibachi no order-book sample	—	—	—	—	—

GMX and Hibachi: 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	66.022	−0.200%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.160	+0.008%	$150.1M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.160	+0.008%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.160	+0.008%	$1.0M	$971K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.150	−0.008%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.074	−0.122%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.125	−0.045%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.073	−0.124%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.370%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.120	−0.053%	$795K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.573	+0.632%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.114	−0.062%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.115	−0.060%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.068	−0.132%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.020	−0.204%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.140	−0.023%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.080	−0.113%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0069%	24h	66.118	−0.056%	$521K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.091	−0.097%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	−0.068%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.050	−0.159%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0133%	1h	66.111	−0.067%	$165.5M	$74.0M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.146	−0.014%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.100	−0.083%	$2.7M	$876K	100x	as long as short
Paradex XAG-USD-PERP	+0.0151%	8h	66.145	−0.015%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0160%	4h	66.170	+0.023%	$27.0M	$36.1M	150x	as long as short
Nado XAG-PERP	+0.0196%	1h	66.092	−0.095%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.137	−0.027%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.140	−0.023%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	−0.038%	$1.8M	$999K	20x	as long as short
BloFin XAG-USDT	+0.0205%	4h	66.160	+0.008%	$2.6M	$554K	100x	as long as short
Variational Omni XAG	+0.0210%	4h	66.123	−0.048%	$5.6M	$9.7M	—	as long as short
MEXC SILVER_USDT	+0.0216%	4h	66.150	−0.008%	$109.3M	$152.5M	1000x	as long as short
Binance XAGUSDT	+0.0216%	4h	66.150	−0.008%	$192.8M	$700.8M	100x	as long as short
Aftermath Perps XAGUSD	+0.0229%	1h	66.095	−0.091%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.150	−0.008%	$27.8M	$65.5M	50x	as long as short
edgeX XAGUSDC	+0.0235%	4h	66.098	−0.086%	$671K	$312K	30x	as long as short
Bitget XAGUSDT	+0.0260%	4h	66.140	−0.023%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.121	−0.052%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0309%	1h	66.163	+0.013%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.120	−0.053%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-Pshort	+0.0376%	1h	66.060	−0.144%	$20K	$19K	10x
GMX SILVER/USD [ETH-USDC]long	L +0.0376% / S −0.0411%	1h	66.155	long leg	$103K	—	111x
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.114	−0.062%	$912K	$676K	25x	as long as short