Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0027%/8h= −3.0% APRpaid last 24h −0.008%

Price spread now: Gate against Phoenix+0.239%7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Gate is 0.239% dearer against Phoenix than usual: you sell high and buy low (spread +0.239% now, against zero (this spread has no 7-day history yet)): +$24 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 29 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SILVER	65.294	0.0061	pay 0.0008% / 1h	56m 48s	$56K	$31K	25x
Short	Gate XAG_USDT	65.450	0.0034	get 0.0017% / 4h	56m 48s	$141.5M	$176.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Phoenix. 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 PhoenixbpFee GatebpOrdersPrice spread, now +0.239%Rate

Funding earned: −$5.67
Price spread: +0.239% → 0.000%: $23.89
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$3.78
Costs to cover: 0.220%
Break-even: from the start

Slippage unknown: Phoenix: no order-book sample; Gate: live order book, 2 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 Phoenix no order-book sample	—	—	—	—	—
Sell Gate live order book, 2 min ago	0.76 bp	8.3 bp −$8	9.6 bp −$96	11.3 bp −$1,125	14.1 bp −$7,063

Phoenix: 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	65.293	−0.002%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.430	+0.208%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	+0.147%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.430	+0.208%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.420	+0.193%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.351	+0.087%	$118K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0009%	1h	65.270	−0.037%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	65.360	+0.101%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0030%	4h	65.314	+0.030%	$5.5M	$9.2M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.420	+0.193%	$4.6M	$9.7M	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	65.372	+0.120%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.694%	$11K	$94K	52x	as long as short
Gate XAG_USDTshort	+0.0034%	4h	65.450	+0.239%	$141.5M	$176.3M	100x
StandX XAG-USD	+0.0040%	1h	65.330	+0.055%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.410	+0.178%	$2.7M	$954K	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.390	+0.147%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.797	+0.770%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.357	+0.096%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.358	+0.098%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.369	+0.115%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.430	+0.208%	$116.9M	$156.0M	1000x	as long as short
Binance XAGUSDT	+0.0055%	4h	65.430	+0.208%	$191.7M	$763.2M	100x	as long as short
Phoenix SILVERlong	+0.0061%	1h	65.294	long leg	$56K	$31K	25x
edgeX XAGUSDC	+0.0066%	4h	65.316	+0.033%	$665K	$315K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.408	+0.174%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.357	+0.096%	$483K	$31.5M	8.1x	as long as short
tradeXYZ xyz:SILVER	+0.0081%	1h	65.397	+0.158%	$170.7M	$83.3M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.230	−0.098%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.320	+0.040%	$469K	$621K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.390	+0.147%	$25.4M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.260	−0.052%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.409	+0.176%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0142%	4h	65.325	+0.047%	$391K	$1.6M	25x	as long as short
Lighter XAG	+0.0144%	1h	65.424	+0.199%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0152%	1h	65.288	−0.009%	$20K	$18K	10x	as long as short
Nado XAG-PERP	+0.0153%	1h	65.348	+0.083%	$1.2M	$5.1M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.430	+0.208%	$23.7M	$45.9M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.410	+0.178%	$28.2M	$71.0M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.410	+0.178%	$66K	$385K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.296	+0.003%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0220%	4h	65.380	+0.132%	$2.7M	$599K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.415	+0.185%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0248%	1h	65.372	+0.119%	$44K	$75K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.379	+0.130%	$1.0M	$874K	25x	as long as short