XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0217%/8h= −23.7% APRnext payment −$1.08 per $10,000 · paid last 24h −0.020%

Price spread now: Phemex against Bybit+0.031%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$39as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$350.350% of the position

Long on Bybit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)+0.120%+$12 · spread now +0.031%, 7d avg +0.029%

Together, before fees+0.081%+$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: −$7 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 -0.039% in total (about -2.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.08 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	Bybit XAGUSDT	65.320	0.0217	pay 0.0108% / 4h	2h 54m	$30.6M	$45.3M	150x
Short	Phemex XAGUSDT	65.340	0	get 0.0000% / 4h	2h 54m	$1.5M	$253K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bybit. 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 BybitbpFee PhemexbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$45.53
Price spread: +0.031% → +0.029%: $0.19
Slippage, 4 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$80.34
Costs to cover: 0.350%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Phemex: live order book, 4 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 Bybit live order book, 5 min ago	0.76 bp	6.3 bp −$6	7.6 bp −$76	18.0 bp −$1,801	91.4 bp −$45.7K
Sell Phemex live order book, 4 min ago	2.29 bp	12.7 bp −$13	17.2 bp −$172	doesn't fit	doesn't fit

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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.099%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0064%	1h	65.220	−0.153%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.293	−0.042%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.330	+0.015%	$137.4M	$192.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.310	−0.015%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.360	+0.061%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	65.340	+0.031%	$1.5M	$253K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.415%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.299	−0.032%	$4.5M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.246	−0.113%	$5.0M	$11.9M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	65.510	+0.291%	$788K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.754	+0.664%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.277	−0.066%	$3.8M	$891K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.240	−0.122%	$3K	$6K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.296	−0.037%	$35K	$23K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.290	−0.046%	$433K	$1.5M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0065%	1h	65.271	−0.075%	$173.6M	$92.4M	25x	as long as short
Paradex XAG-USD-PERP	+0.0075%	8h	65.275	−0.070%	$29K	$166	5x	as long as short
Variational Omni XAG	+0.0075%	4h	65.472	+0.233%	$5.5M	$9.2M	—	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.440	+0.184%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0091%	24h	65.287	−0.051%	$638K	$36.3M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.251	−0.105%	$464K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.270	−0.077%	$25.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.520	+0.306%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.478	+0.242%	$56K	$13K	25x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.344	+0.037%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0115%	4h	65.308	−0.019%	$192.8M	$826.8M	100x	as long as short
MEXC SILVER_USDT	+0.0116%	4h	65.320	0.000%	$117.1M	$161.2M	1000x	as long as short
edgeX XAGUSDC	+0.0129%	4h	65.542	+0.340%	$668K	$313K	30x	as long as short
Aster XAGUSDT	+0.0130%	4h	65.308	−0.018%	$2.7M	$1.1M	100x	as long as short
Nado XAG-PERP	+0.0135%	1h	65.257	−0.097%	$1.2M	$4.2M	10x	as long as short
Bullet SILVER-USD	+0.0182%	1h	65.317	−0.004%	$44K	$75K	10x	as long as short
Lighter XAG	+0.0192%	1h	65.306	−0.022%	$5.1M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0201%	1h	65.443	+0.189%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.304	−0.024%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0208%	8h	65.310	−0.015%	$28.1M	$81.2M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0210%	1h	65.280	−0.061%	$77K	$437K	20x	as long as short
Bybit XAGUSDTlong	+0.0217%	4h	65.320	long leg	$30.6M	$45.3M	150x
Bitget XAGUSDT	+0.0226%	4h	65.320	0.000%	$23.0M	$49.6M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.385	+0.100%	$93K	—	111x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	65.550	+0.352%	$396K	$1.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.331	+0.017%	$21K	$12K	10x	as long as short
BloFin XAG-USDT	+0.0357%	4h	65.400	+0.122%	$2.7M	$709K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0776%	1h	65.274	−0.071%	$1.0M	$893K	25x	as long as short