XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0196%/8h= +21.5% APRnext payment +$0.98 per $10,000 · paid last 24h +0.066%

Price spread now: Bitget against Phemex−0.031%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$400.395% of the position

Long on Phemex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)−0.056%−$6 · spread now −0.031%, 7d avg −0.035%

Together, before fees+0.062%+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: +$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.118% in total (about 6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.98 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex XAGUSDT	65.500	0	get 0.0000% / 4h	1h 52m	$1.5M	$281K	100x
Short	Bitget XAGUSDT	65.480	0.0196	get 0.0098% / 4h	1h 52m	$23.8M	$46.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Phemex. 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 PhemexbpFee BitgetbpOrdersPrice spread, now −0.031%Rate

Funding earned: $41.16
Price spread: −0.031% → −0.035%: $0.46
Slippage, 4 orders: −$15.51
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $2.11
Costs to cover: 0.395%
Break-even: 6.6 days

Slippage from Phemex: live order book, 1 min ago; Bitget: 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 Phemex live order book, 1 min ago	1.53 bp	13.4 bp −$13	19.0 bp −$190	doesn't fit	doesn't fit
Sell Bitget live order book, 2 min ago	0.76 bp	7.0 bp −$7	9.0 bp −$90	18.3 bp −$1,827	36.8 bp −$18.4K

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
Hibachi XAG/USDT-P	−0.0112%	1h	65.440	−0.092%	$20K	$19K	10x	as long as short
Hotstuff SILVER-PERP	−0.0104%	1h	65.474	−0.040%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0042%	1h	65.370	−0.198%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.471	−0.045%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.490	−0.015%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.510	+0.015%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTlong	0.0000%	4h	65.500	long leg	$1.5M	$281K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.431	−0.106%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.500	0.000%	$143.8M	$177.1M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.474	−0.040%	$4.7M	$9.5M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.435	−0.099%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.374%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.480	−0.031%	$788K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.918	+0.638%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.490	−0.015%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.453	−0.072%	$170.6M	$83.0M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.448	−0.079%	$3.9M	$712K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.435	−0.099%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0056%	1h	65.460	−0.061%	$66K	$370K	20x	as long as short
Bybit XAGUSDT	+0.0056%	4h	65.490	−0.015%	$28.7M	$39.3M	150x	as long as short
Aster XAGUSDT	+0.0057%	4h	65.490	−0.015%	$2.7M	$955K	100x	as long as short
Paradex XAG-USD-PERP	+0.0060%	8h	65.479	−0.033%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.487	−0.020%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.561	+0.093%	$56K	$31K	25x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.450	−0.076%	$467K	$29.2M	8.1x	as long as short
Lighter XAG	+0.0096%	1h	65.481	−0.029%	$5.4M	$11.2M	25x	as long as short
Variational Omni XAG	+0.0096%	4h	65.634	+0.204%	$5.5M	$9.4M	—	as long as short
Binance XAGUSDT	+0.0098%	4h	65.480	−0.031%	$188.4M	$750.4M	100x	as long as short
MEXC SILVER_USDT	+0.0098%	4h	65.480	−0.031%	$113.5M	$156.4M	1000x	as long as short
Pacifica XAG	+0.0100%	1h	65.446	−0.083%	$468K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.460	−0.061%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.610	+0.168%	$112K	$19K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.473	−0.042%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.430	−0.107%	$1.6M	$1.3M	20x	as long as short
edgeX XAGUSDC	+0.0120%	4h	65.615	+0.176%	$668K	$312K	30x	as long as short
Nado XAG-PERP	+0.0121%	1h	65.465	−0.054%	$1.2M	$5.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0142%	4h	65.554	+0.083%	$395K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0169%	1h	65.499	−0.002%	$44K	$76K	10x	as long as short
Bitget XAGUSDTshort	+0.0196%	4h	65.480	−0.031%	$23.8M	$46.4M	100x
OKX XAG-USDT-SWAP	+0.0201%	8h	65.480	−0.031%	$27.7M	$70.7M	50x	as long as short
Aftermath Perps XAGUSD	+0.0212%	1h	65.515	+0.023%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0321% / S −0.0301%	1h	65.475	−0.038%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0339%	4h	65.520	+0.031%	$2.6M	$618K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.447	−0.081%	$917K	$740K	25x	as long as short