XAG

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.083%

7d average—if it closes, per $10,000$8funding while held, a day−$3.79

Long on Bullet Short on Polymarket Perps

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bullet SILVER-USD	65.859	0.0176	pay 0.0022% / 1h	27m 50s	$44K	$77K	10x
Short	Polymarket Perps SILVER-USD	65.804	0.0050	get 0.0006% / 1h	27m 50s	$3.9M	$738K	20x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee BulletbpFee Polymarket PerpsbpOrdersClose when spread is

Spread captured: −$8.29
Funding while held: −$3.79
Slippage, 4 orders: no order book: not counted
Fee Bullet: 4 bp × 2 orders: −$8
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$28.07
Spread needed to break even: 0.160%

Slippage unknown: Bullet: no order-book sample; Polymarket Perps: live order book, 3 min ago. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0126%
Per $10,000 a day: −$3.79
Average in range /8h: —

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 Bullet no order-book sample	—	—	—	—	—
Sell Polymarket Perps live order book, 3 min ago	0.91 bp	6.1 bp −$6	6.3 bp −$63	7.4 bp −$737	doesn't fit

Bullet: 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 price on every exchange

against the cheapest. Click to use as the short leg.

Nado65.782cheapest Ondo Perps65.800+0.027%SoDEX65.800+0.027%Kalshi65.802+0.030%

Polymarket Perps65.804+0.033%

gTrade (Gains Network)65.809+0.042%Coinbase International65.810+0.043%Kraken Futures65.816+0.051%Pacifica65.816+0.052%RISEx65.824+0.064%Extended65.827+0.069%dYdX65.828+0.070%KuCoin65.830+0.073%tradeXYZ65.839+0.087%Paradex65.847+0.099%Aster65.850+0.103%QFEX65.850+0.103%Deribit65.850+0.103%

Bullet65.859+0.116%

Aevo65.861+0.119%Lighter RH65.864+0.125%GMX65.865+0.126%SunX65.870+0.134%HTX65.870+0.134%Lighter65.875+0.141%Gate65.880+0.149%MEXC65.880+0.149%Binance65.886+0.159%Bybit65.890+0.164%OKX65.890+0.164%Bitget65.890+0.164%Phemex65.910+0.195%Aftermath Perps65.911+0.196%Hibachi65.914+0.201%Phoenix65.915+0.202%ApeX Omni65.930+0.225%edgeX65.956+0.265%Variational Omni65.969+0.284%BloFin65.980+0.301%StandX65.990+0.316%Vest66.316+0.812%Injective66.400+0.939%Hotstuff66.447+1.011%

XAG on 43 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Nado XAG-PERP	−0.116%	+0.0137%	1h	$1.3M	$6.3M	10x	as long as short
Ondo Perps XAG-USD.P	−0.089%	−0.0070%	1h	$6.1M	$8.4M	25x	as long as short
SoDEX SILVER-USD	−0.089%	+0.0050%	1h	$4K	$5K	20x	as long as short
Kalshi KXSILVERPERP	−0.086%	0.0000%	24h	$707K	$20.8M	8.1x	as long as short
Polymarket Perps SILVER-USDshort	−0.083%	+0.0050%	1h	$3.9M	$738K	20x
gTrade (Gains Network) XAG/USD	−0.075%	L +0.0004% / S −0.0006%	1h	$119K	—	250x	as long as short
Coinbase International SILVER-PERP-INTX	−0.074%	+0.0192%	1h	$1.9M	$1.2M	20x	as long as short
Kraken Futures PF_XAGUSD	−0.065%	+0.0290%	1h	$778K	$647K	25x	as long as short
Pacifica XAG	−0.065%	+0.0100%	1h	$474K	$719K	10x	as long as short
RISEx XAG/USDC	−0.052%	0.0000%	1h	$1.3M	$4.1M	20x	as long as short

Show all 43 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Extended XAG-USD	−0.047%	+0.0272%	1h	$4.9M	$14.5M	10x	as long as short
dYdX XAG-USD	−0.046%	0.0000%	1h	$14K	$997	5x	as long as short
KuCoin XAGUSDTM	−0.043%	+0.0100%	4h	$24.2M	$4.2M	75x	as long as short
tradeXYZ xyz:SILVER	−0.030%	+0.0050%	1h	$159.7M	$94.8M	25x	as long as short
Paradex XAG-USD-PERP	−0.018%	+0.0071%	8h	$30K	$1K	5x	as long as short
Aster XAGUSDT	−0.013%	+0.0028%	4h	$2.8M	$1.3M	100x	as long as short
QFEX SILVER-USD	−0.013%	+0.0045%	1h	$141K	$2.7M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	−0.013%	+0.0206%	1h	$88K	$622K	20x	as long as short
Bullet SILVER-USDlong	0.000%	+0.0176%	1h	$44K	$77K	10x
Aevo XAG-PERP	+0.003%	+0.0056%	1h	$47K	—	10x	as long as short
Lighter RH XAG	+0.009%	+0.0032%	1h	$4.6M	$9.2M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	+0.010%	L +0.0249% / S −0.0217%	1h	$102K	—	111x	as long as short
SunX XAG-USDT	+0.017%	0.0000%	4h	$2K	$3.6M	20x	as long as short
HTX XAG-USDT	+0.017%	0.0000%	4h	$1.0M	$1.1M	75x	as long as short
Lighter XAG	+0.025%	+0.0152%	1h	$5.4M	$10.9M	25x	as long as short
Gate XAG_USDT	+0.033%	0.0000%	4h	$133.5M	$194.7M	100x	as long as short
MEXC SILVER_USDT	+0.033%	+0.0038%	4h	$124.0M	$191.6M	1000x	as long as short
Binance XAGUSDT	+0.042%	+0.0039%	4h	$193.3M	$793.4M	100x	as long as short
Bybit XAGUSDT	+0.048%	+0.0093%	4h	$24.7M	$37.5M	150x	as long as short
OKX XAG-USDT-SWAP	+0.048%	+0.0142%	8h	$27.3M	$68.3M	50x	as long as short
Bitget XAGUSDT	+0.048%	+0.0208%	4h	$23.2M	$49.8M	100x	as long as short
Phemex XAGUSDT	+0.078%	0.0000%	4h	$1.5M	$251K	100x	as long as short
Aftermath Perps XAGUSD	+0.079%	+0.0164%	1h	$79K	$39K	10x	as long as short
Hibachi XAG/USDT-P	+0.084%	+0.0088%	1h	$20K	$21K	10x	as long as short
Phoenix SILVER	+0.086%	0.0000%	1h	$56K	$26K	25x	as long as short
ApeX Omni XAGUSDT	+0.108%	+0.0100%	1h	$112K	$189K	50x	as long as short
edgeX XAGUSDC	+0.148%	+0.0048%	4h	$667K	$320K	30x	as long as short
Variational Omni XAG	+0.167%	+0.0026%	4h	$5.8M	$12.6M	—	as long as short
BloFin XAG-USDT	+0.184%	+0.0098%	4h	$2.6M	$1.6M	100x	as long as short
StandX XAG-USD	+0.200%	+0.0040%	1h	$699K	$2.4M	40x	as long as short
Vest SI-PERP	+0.695%	+0.0046%	1h	—	—	25x	as long as short
Injective XAG/USDC PERP	+0.822%	+0.0033%	1h	$11K	$94K	52x	as long as short
Hotstuff SILVER-PERP	+0.893%	+0.0256%	1h	$31K	$13K	20x	as long as short