Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0101%/8h= −11.1% APRpaid last 24h −0.007%

Price spread now: Bitget against GMX−0.023%7-day average −0.015% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.158%−$16 on $10k

Price spread, last 4 days (all we have)−0.090%−$9 · spread now −0.023%, 7d avg −0.015%

Together, before fees−0.249%−$25 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SILVER/USD [ETH-USDC]	66.345	L +0.0349% / S −0.0370%	pay 0.0044% / 1h	28m 18s	$103K	—	111x
Short	Bitget XAGUSDT	66.330	0.0248	get 0.0124% / 4h	1h 28m	$23.8M	$45.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GMX. 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 GMXbpFee BitgetbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$21.29
Price spread: −0.023% → −0.015%: −$0.78
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$46.07
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 6 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 6 min ago	0.75 bp	7.3 bp −$7	9.8 bp −$98	16.4 bp −$1,644	48.7 bp −$24.4K

GMX: 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	66.213	−0.199%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.350	+0.008%	$150.3M	$164.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.330	−0.023%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.330	−0.023%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.310	−0.053%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.272	−0.109%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.303	−0.063%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.261	−0.126%	$5.2M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.083%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	−0.143%	$797K	$2.9M	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	66.767	+0.636%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.293	−0.078%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.298	−0.071%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.252	−0.140%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.230	−0.173%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.320	−0.038%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0064%	24h	66.258	−0.131%	$532K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.278	−0.101%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0096%	1h	66.306	−0.059%	$166.0M	$74.3M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.267	−0.118%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.280	−0.098%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.260	−0.128%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0133%	4h	66.280	−0.098%	$2.7M	$887K	100x	as long as short
Paradex XAG-USD-PERP	+0.0135%	8h	66.313	−0.049%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0158%	4h	66.340	−0.008%	$26.9M	$36.1M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.317	−0.042%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0179%	4h	66.321	−0.036%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.325	−0.031%	$1.3M	$4.5M	20x	as long as short
Lighter XAG	+0.0192%	1h	66.311	−0.050%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.270	−0.113%	$1.9M	$980K	20x	as long as short
MEXC SILVER_USDT	+0.0194%	4h	66.330	−0.023%	$103.3M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0195%	4h	66.340	−0.008%	$192.3M	$705.9M	100x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.273	−0.108%	$672K	$315K	30x	as long as short
Nado XAG-PERP	+0.0210%	1h	66.270	−0.113%	$1.3M	$6.6M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.330	−0.023%	$27.8M	$65.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.263	−0.124%	$80K	$37K	10x	as long as short
Bitget XAGUSDTshort	+0.0248%	4h	66.330	−0.023%	$23.8M	$45.8M	100x
BloFin XAG-USDT	+0.0252%	4h	66.320	−0.038%	$2.6M	$553K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.350	+0.008%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.113%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.352	+0.011%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0349% / S −0.0370%	1h	66.345	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.300	−0.068%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.295	−0.075%	$915K	$671K	25x	as long as short