Funding you earn now, next payment 08:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.03 per $10,000 · paid last 24h +0.009%
Price spread now: tradeXYZ against Phoenix−0.188%101s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.008%+$1 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Funding pays, the price is against you. tradeXYZ is 0.188% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.188% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$19 on $10k: about 26 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.008% in total) that is about 5 months. The two prices were read 101 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 | Phoenix SILVER | 64.892 | 0.0111 | pay 0.0014% / 1h | 33m 48s | $55K | $31K | 25x |
| Short | tradeXYZ xyz:SILVER | 64.770 | 0.0135 | get 0.0017% / 1h | 33m 48s | $173.4M | $87.4M | 25x |
Phoenix SILVER
tradeXYZ xyz:SILVERFunding history
latest
Range statsloading…
Price spread between the two exchanges
tradeXYZ against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $5.04
- Price spread: −0.188% → 0.000%
- −$18.8
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee tradeXYZ: 9 bp × 2 orders
- −$18
- Net
- −$38.76
- Costs to cover
- 0.250%
- Break-even
- 60.8 days
Slippage unknown: Phoenix: no order-book sample; tradeXYZ: live order book, 5 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 tradeXYZ live order book, 5 min ago | 0.31 bp | 9.8 bp −$10 | 10.4 bp −$104 | doesn't fit | doesn't fit |
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 | 64.862 | −0.046% | $12K | $6K | 5x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 64.930 | +0.059% | $2K | $2.4M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 64.950 | +0.089% | $1.1M | $1.3M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 64.920 | +0.043% | $1.4M | $310K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 64.866 | −0.041% | $117K | — | 250x | as long as short |
| Variational Omni XAG | +0.0015% | 4h | 64.904 | +0.019% | $5.3M | $9.1M | — | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 64.893 | +0.001% | $4.6M | $9.8M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 64.822 | −0.107% | $5.0M | $12.1M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +2.324% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 64.890 | −0.003% | $780K | $3.0M | 40x | as long as short |
dYdX XAG-USD
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Variational Omni XAG
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USDShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Gate XAG_USDT | +0.0042% | 4h | 64.900 | +0.012% | $139.2M | $182.7M | 100x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 65.320 | +0.660% | — | — | 25x | as long as short |
| QFEX SILVER-USD | +0.0047% | 1h | 64.900 | +0.012% | $445K | $1.5M | 20x | as long as short |
| MEXC SILVER_USDT | +0.0050% | 4h | 64.890 | −0.003% | $121.5M | $158.1M | 1000x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 64.836 | −0.086% | $3.8M | $890K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 64.855 | −0.057% | $3K | $6K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 64.810 | −0.126% | $5.6M | $9.9M | 25x | as long as short |
| Binance XAGUSDT | +0.0054% | 4h | 64.870 | −0.034% | $195.7M | $775.4M | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0060% | 8h | 64.908 | +0.025% | $29K | $166 | 5x | as long as short |
| edgeX XAGUSDC | +0.0061% | 4h | 64.937 | +0.070% | $661K | $313K | 30x | as long as short |
| Aevo XAG-PERP | +0.0064% | 1h | 64.895 | +0.005% | $47K | — | 10x | as long as short |
| Aster XAGUSDT | +0.0067% | 4h | 64.890 | −0.003% | $2.6M | $995K | 100x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0080% | 1h | 64.910 | +0.028% | $1.6M | $1.4M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0085% | 24h | 64.953 | +0.094% | $479K | $34.0M | 8.1x | as long as short |
| Hotstuff SILVER-PERP | +0.0088% | 1h | 64.925 | +0.051% | $35K | $21K | 20x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 64.856 | −0.056% | $463K | $592K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 64.850 | −0.065% | $25.1M | $4.5M | 75x | as long as short |
| GRVT XAG_USDT_Perp | +0.0100% | 4h | 64.907 | +0.023% | $390K | $1.6M | 25x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 64.870 | −0.034% | $111K | $19K | 50x | as long as short |
| Phoenix SILVERlong | +0.0111% | 1h | 64.892 | long leg | $55K | $31K | 25x | |
| tradeXYZ xyz:SILVERshort | +0.0135% | 1h | 64.770 | −0.188% | $173.4M | $87.4M | 25x | |
| Nado XAG-PERP | +0.0156% | 1h | 64.934 | +0.065% | $1.2M | $4.2M | 10x | as long as short |
| RISEx XAG/USDC | +0.0158% | 1h | 64.912 | +0.030% | $1.2M | $4.9M | 20x | as long as short |
| Bitget XAGUSDT | +0.0190% | 4h | 64.850 | −0.065% | $23.4M | $46.4M | 100x | as long as short |
| OKX XAG-USDT-SWAP | +0.0193% | 8h | 64.850 | −0.065% | $28.7M | $73.0M | 50x | as long as short |
| Bybit XAGUSDT | +0.0202% | 4h | 64.890 | −0.003% | $29.1M | $42.5M | 150x | as long as short |
| BloFin XAG-USDT | +0.0205% | 4h | 64.960 | +0.105% | $2.7M | $646K | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0219% | 1h | 64.894 | +0.003% | $78K | $37K | 10x | as long as short |
| Lighter XAG | +0.0224% | 1h | 64.889 | −0.004% | $5.3M | $11.0M | 25x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0237% / S −0.0196% | 1h | 64.935 | +0.066% | $92K | — | 111x | as long as short |
| Bullet SILVER-USD | +0.0300% | 1h | 64.928 | +0.055% | $45K | $75K | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0344% | 1h | 64.860 | −0.049% | $20K | $15K | 10x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0367% | 1h | 64.920 | +0.043% | $76K | $430K | 20x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0420% | 1h | 64.910 | +0.028% | $1.0M | $889K | 25x | as long as short |
Gate XAG_USDT
Vest SI-PERP
QFEX SILVER-USD
MEXC SILVER_USDT
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
Binance XAGUSDT
Paradex XAG-USD-PERP
edgeX XAGUSDC
Aevo XAG-PERP
Aster XAGUSDT
Coinbase International SILVER-PERP-INTX
Kalshi KXSILVERPERP
Hotstuff SILVER-PERP
Pacifica XAG
KuCoin XAGUSDTM
GRVT XAG_USDT_Perp
ApeX Omni XAGUSDT
Nado XAG-PERP
RISEx XAG/USDC
Bitget XAGUSDT
OKX XAG-USDT-SWAP
Bybit XAGUSDT
BloFin XAG-USDT
Aftermath Perps XAGUSD
Lighter XAG
GMX SILVER/USD [ETH-USDC]
Bullet SILVER-USD
Hibachi XAG/USDT-P
Deribit SILVER_USDC-PERPETUAL
Kraken Futures PF_XAGUSD