Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0114%/8h= −12.5% APRpaid last 24h −0.025%

Price spread now: OKX against GMX+0.023%7-day average −0.021% · you sell dearer than you buy

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

Long on GMX Short on OKX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.178%−$18 on $10k

Price spread, last 3 days (all we have)−0.073%−$7 · spread now +0.023%, 7d avg −0.021%

Together, before fees−0.250%−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.044% dearer against GMX than usual: you sell high and buy low (spread +0.023% now, against its 7-day average of −0.021%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX SILVER/USD [ETH-USDC]	66.255	L +0.0330% / S −0.0341%	pay 0.0041% / 1h	50m 44s	$103K	—	111x
Short	OKX XAG-USDT-SWAP	66.270	0.0217	get 0.0217% / 8h	5h 50m	$27.8M	$65.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$23.88
Price spread: +0.023% → −0.021%: $4.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$41.51
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: live order book, 3 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 OKX live order book, 3 min ago	0.75 bp	5.8 bp −$6	6.6 bp −$66	12.3 bp −$1,229	71.6 bp −$35.8K

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 43 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	66.178	−0.116%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.270	+0.023%	$151.7M	$161.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	−0.053%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.038%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.290	+0.053%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.180	−0.112%	$121K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0017%	1h	66.160	−0.143%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.246	−0.014%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.198	−0.086%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.219%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0040%	1h	66.273	+0.027%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.390	+0.204%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.691	+0.658%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.196	−0.089%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.188	−0.101%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.250	−0.008%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.249	−0.009%	$547K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.303	+0.072%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0095%	1h	66.228	−0.041%	$165.8M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.206	−0.074%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.230	−0.038%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.113%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0137%	8h	66.255	+0.001%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0138%	4h	66.240	−0.023%	$2.7M	$917K	100x	as long as short
Bybit XAGUSDT	+0.0141%	4h	66.280	+0.038%	$26.7M	$36.2M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.244	−0.017%	$48K	—	10x	as long as short
Lighter XAG	+0.0176%	1h	66.255	0.000%	$5.3M	$10.4M	25x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	−0.019%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.267	+0.018%	$1.2M	$4.4M	20x	as long as short
Binance XAGUSDT	+0.0191%	4h	66.264	+0.013%	$191.9M	$706.0M	100x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.250	−0.008%	$110.5M	$151.7M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.143%	$1.9M	$972K	20x	as long as short
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.168%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAPshort	+0.0217%	8h	66.270	+0.023%	$27.8M	$65.6M	50x
Aftermath Perps XAGUSD	+0.0233%	1h	66.281	+0.039%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.320	+0.098%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0242%	1h	66.198	−0.085%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0254%	4h	66.270	+0.023%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0267%	1h	66.250	−0.008%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.380	+0.188%	$393K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0330% / S −0.0341%	1h	66.255	long leg	$103K	—	111x
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.240	−0.023%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.198	−0.086%	$763K	$475K	25x	as long as short