XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0150%/8h= −16.4% APRnext payment −$0.19 per $10,000 · paid last 24h −0.042%

Price spread now: Polymarket Perps against Coinbase International−0.054%47s7-day average −0.029% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.275% of the position

Long on Coinbase International Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.054%, 7d avg −0.029%

Together, before fees−0.206%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Polymarket Perps is 0.026% cheaper against Coinbase International than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.029%). Swap the legs. The two prices were read 47 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	Coinbase International SILVER-PERP-INTX	66.130	0.0200	pay 0.0025% / 1h	37m 24s	$1.8M	$999K	20x
Short	Polymarket Perps SILVER-USD	66.094	0.0050	get 0.0006% / 1h	37m 24s	$3.9M	$672K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Coinbase International. 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 Coinbase InternationalbpFee Polymarket PerpsbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$31.5
Price spread: −0.054% → −0.029%: −$2.58
Slippage, 4 orders: −$9.46
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$61.54
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 1 min ago; Polymarket Perps: live order book, 2 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 Coinbase International live order book, 1 min ago	3.03 bp	8.0 bp −$8	8.4 bp −$84	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.06 bp	5.8 bp −$6	6.3 bp −$63	7.4 bp −$741	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
dYdX XAG-USD	0.0000%	1h	66.085	−0.068%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.140	+0.015%	$150.2M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.170	+0.060%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.170	+0.060%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.160	+0.045%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.060	−0.105%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.140	+0.016%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.064	−0.101%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.408%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.150	+0.030%	$796K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.560	+0.650%	—	—	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	66.094	−0.054%	$3.9M	$672K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.087	−0.065%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.010	−0.181%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.120	−0.015%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.074	−0.085%	$56K	$26K	25x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.125	−0.008%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERP	+0.0068%	24h	66.111	−0.029%	$509K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.084	−0.070%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.100	−0.045%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	−0.106%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0134%	1h	66.096	−0.051%	$165.5M	$73.8M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.130	0.000%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.161	+0.046%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0151%	4h	66.140	+0.015%	$27.0M	$36.1M	150x	as long as short
Paradex XAG-USD-PERP	+0.0152%	8h	66.141	+0.017%	$30K	$1K	5x	as long as short
Nado XAG-PERP	+0.0191%	1h	66.101	−0.043%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.119	−0.016%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.158	+0.042%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTXlong	+0.0200%	1h	66.130	long leg	$1.8M	$999K	20x
Variational Omni XAG	+0.0202%	4h	66.133	+0.004%	$5.6M	$9.7M	—	as long as short
BloFin XAG-USDT	+0.0212%	4h	66.130	0.000%	$2.6M	$554K	100x	as long as short
MEXC SILVER_USDT	+0.0216%	4h	66.120	−0.015%	$109.1M	$152.4M	1000x	as long as short
Binance XAGUSDT	+0.0218%	4h	66.120	−0.015%	$192.8M	$700.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.109	−0.031%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.140	+0.015%	$27.7M	$65.5M	50x	as long as short
edgeX XAGUSDC	+0.0231%	4h	66.127	−0.004%	$671K	$311K	30x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.120	−0.015%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.144	+0.021%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0312%	1h	66.133	+0.004%	$45K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.140	+0.015%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-P	+0.0360%	1h	66.117	−0.020%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0374% / S −0.0407%	1h	66.165	+0.053%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.126	−0.006%	$912K	$676K	25x	as long as short