Funding you earn now, next payment 02:00 UTC−0.0050%/8h= −5.4% APRpaid last 24h −0.007%
Price spread now: Phoenix against Bybit−0.125%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.090%+$9 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phoenix is 0.125% cheaper against Bybit than usual: you would sell low and buy high (−$13 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.090%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit XAGUSDT | 66.180 | 0.0134 | pay 0.0067% / 4h | 1h 03m | $26.9M | $36.0M | 150x |
| Short | Phoenix SILVER | 66.097 | 0.0084 | get 0.0011% / 1h | 3m 22s | $56K | $26K | 25x |
Bybit XAGUSDT
Phoenix SILVERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Bybit. 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
- −$10.42
- Price spread: −0.125% → 0.000%
- −$12.54
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$40.96
- Costs to cover
- 0.180%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 5 min ago; Phoenix: no order-book sample. 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 Bybit live order book, 5 min ago | 0.75 bp | 7.5 bp −$8 | 9.6 bp −$96 | 15.6 bp −$1,560 | 53.2 bp −$26.6K |
| Sell Phoenix no order-book sample | — | — | — | — | — |
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 | 66.087 | −0.141% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.170 | −0.015% | $149.5M | $165.2M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.120 | −0.091% | $2K | $2.7M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.160 | −0.030% | $1.0M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.150 | −0.045% | $1.5M | $255K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.090 | −0.136% | $121K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.127 | −0.081% | $4.8M | $9.5M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.068 | −0.169% | $5.2M | $12.0M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +0.332% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.100 | −0.121% | $795K | $3.0M | 40x | as long as short |
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
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 | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps XAG-USD.P | +0.0042% | 1h | 66.020 | −0.242% | $5.7M | $9.7M | 25x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.580 | +0.604% | — | — | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.110 | −0.106% | $3.9M | $672K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.037 | −0.216% | $3K | $6K | 20x | as long as short |
| Hotstuff SILVER-PERP | +0.0056% | 1h | 66.100 | −0.121% | $35K | $21K | 20x | as long as short |
| QFEX SILVER-USD | +0.0062% | 1h | 66.140 | −0.060% | $115K | $2.7M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0066% | 24h | 66.074 | −0.160% | $544K | $24.8M | 8.1x | as long as short |
| Phoenix SILVERshort | +0.0084% | 1h | 66.097 | −0.125% | $56K | $26K | 25x | |
| tradeXYZ xyz:SILVER | +0.0093% | 1h | 66.122 | −0.088% | $165.4M | $73.8M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.074 | −0.160% | $470K | $612K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.090 | −0.136% | $24.4M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.120 | −0.091% | $113K | $30K | 50x | as long as short |
| Aster XAGUSDT | +0.0122% | 4h | 66.120 | −0.091% | $2.7M | $878K | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0127% | 8h | 66.129 | −0.078% | $30K | $1K | 5x | as long as short |
| Bybit XAGUSDTlong | +0.0134% | 4h | 66.180 | long leg | $26.9M | $36.0M | 150x | |
| Aevo XAG-PERP | +0.0176% | 1h | 66.098 | −0.124% | $47K | — | 10x | as long as short |
| Variational Omni XAG | +0.0178% | 4h | 66.142 | −0.057% | $5.6M | $9.8M | — | as long as short |
| RISEx XAG/USDC | +0.0181% | 1h | 66.149 | −0.047% | $1.3M | $4.4M | 20x | as long as short |
| Lighter XAG | +0.0184% | 1h | 66.129 | −0.077% | $5.2M | $10.6M | 25x | as long as short |
| MEXC SILVER_USDT | +0.0188% | 4h | 66.160 | −0.030% | $106.8M | $154.2M | 1000x | as long as short |
| Binance XAGUSDT | +0.0190% | 4h | 66.164 | −0.024% | $191.8M | $705.6M | 100x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0192% | 1h | 66.180 | 0.000% | $1.8M | $1.0M | 20x | as long as short |
| edgeX XAGUSDC | +0.0198% | 4h | 66.162 | −0.027% | $671K | $315K | 30x | as long as short |
| BloFin XAG-USDT | +0.0207% | 4h | 66.170 | −0.015% | $2.6M | $551K | 100x | as long as short |
| OKX XAG-USDT-SWAP | +0.0216% | 8h | 66.150 | −0.045% | $27.7M | $65.8M | 50x | as long as short |
| Nado XAG-PERP | +0.0224% | 1h | 66.085 | −0.143% | $1.3M | $6.5M | 10x | as long as short |
| Aftermath Perps XAGUSD | +0.0230% | 1h | 66.129 | −0.078% | $80K | $37K | 10x | as long as short |
| Bitget XAGUSDT | +0.0238% | 4h | 66.150 | −0.045% | $23.8M | $45.6M | 100x | as long as short |
| GRVT XAG_USDT_Perp | +0.0254% | 4h | 66.140 | −0.060% | $396K | $1.5M | 25x | as long as short |
| Bullet SILVER-USD | +0.0272% | 1h | 66.161 | −0.029% | $45K | $76K | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0296% | 1h | 66.066 | −0.172% | $20K | $19K | 10x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0356% | 1h | 66.090 | −0.136% | $63K | $337K | 20x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0361% / S −0.0389% | 1h | 66.165 | −0.023% | $103K | — | 111x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0551% | 1h | 66.070 | −0.166% | $911K | $674K | 25x | as long as short |
Ondo Perps XAG-USD.P
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Hotstuff SILVER-PERP
QFEX SILVER-USD
Kalshi KXSILVERPERP
tradeXYZ xyz:SILVER
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Aster XAGUSDT
Paradex XAG-USD-PERP
Aevo XAG-PERP
Variational Omni XAG
RISEx XAG/USDC
Lighter XAG
MEXC SILVER_USDT
Binance XAGUSDT
Coinbase International SILVER-PERP-INTX
edgeX XAGUSDC
BloFin XAG-USDT
OKX XAG-USDT-SWAP
Nado XAG-PERP
Aftermath Perps XAGUSD
Bitget XAGUSDT
GRVT XAG_USDT_Perp
Bullet SILVER-USD
Hibachi XAG/USDT-P
Deribit SILVER_USDC-PERPETUAL
GMX SILVER/USD [ETH-USDC]
Kraken Futures PF_XAGUSD