Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0189%/8h= +20.7% APRpaid last 24h +0.017%

Price spread now: GMX against OKX−0.023%7-day average +0.021% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.122%+$12 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.023%, 7d avg +0.021%

Together, before fees+0.198%+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.044% cheaper against OKX than usual: you would sell low and buy high (spread −0.023% now, against its 7-day average of +0.021%). If the spread goes back, that is −$4 on $10k: about 19 hours of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAG-USDT-SWAP	66.090	0.0235	pay 0.0235% / 8h	4h 07m	$27.7M	$65.0M	50x
Short	GMX SILVER/USD [ETH-USDC]	66.075	L +0.0383% / S −0.0424%	get 0.0053% / 1h	7m 40s	$103K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.023%Rate

Funding earned: $39.68
Price spread: −0.023% → +0.021%: −$4.37
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $13.31
Costs to cover: 0.220%
Break-even: 4.7 days

Slippage unknown: OKX: live order book, 1 min ago; GMX: 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 OKX live order book, 1 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	10.3 bp −$1,031	73.1 bp −$36.6K
Sell GMX no order-book sample	—	—	—	—	—

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	−0.109%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.100	+0.015%	$150.1M	$163.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.060	−0.045%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.061%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.130	+0.061%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.993	−0.146%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.074	−0.024%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.002	−0.133%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.469%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.110	+0.030%	$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	−0.197%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.500	+0.620%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.057	−0.050%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.034	−0.085%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.996	−0.142%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.070	−0.030%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.053	−0.056%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.040	−0.076%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.033	−0.086%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.060	−0.045%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.030	−0.091%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0127%	1h	66.053	−0.056%	$166.0M	$73.5M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.067	−0.035%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0144%	8h	66.084	−0.009%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0149%	4h	66.080	−0.015%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0172%	4h	66.100	+0.015%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.078	−0.019%	$5.3M	$10.8M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.075	−0.023%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.106%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	−0.041%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0214%	4h	66.090	0.000%	$110.7M	$153.0M	1000x	as long as short
Nado XAG-PERP	+0.0214%	1h	66.025	−0.099%	$1.4M	$6.4M	10x	as long as short
Binance XAGUSDT	+0.0217%	4h	66.099	+0.013%	$192.7M	$700.2M	100x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	−0.032%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0227%	4h	66.058	−0.049%	$670K	$311K	30x	as long as short
OKX XAG-USDT-SWAPlong	+0.0235%	8h	66.090	long leg	$27.7M	$65.0M	50x
Bitget XAGUSDT	+0.0258%	4h	66.080	−0.015%	$23.8M	$45.4M	100x	as long as short
BloFin XAG-USDT	+0.0264%	4h	66.120	+0.045%	$2.6M	$554K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0276%	4h	66.090	0.000%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0290%	1h	66.081	−0.014%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.050	−0.061%	$75K	$362K	20x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0383% / S −0.0424%	1h	66.075	−0.023%	$103K	—	111x
Hibachi XAG/USDT-P	+0.0384%	1h	66.054	−0.055%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.045	−0.068%	$911K	$683K	25x	as long as short