Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0238%/8h= −26.1% APRpaid last 24h −0.081%

Price spread now: SunX against GMX−0.008%7-day average −0.002% · you buy dearer than you sell

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.242%−$24 on $10k

Price spread, last 4 days (all we have)+0.004%$0 · spread now −0.008%, 7d avg −0.002%

Together, before fees−0.238%−$24 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.002%, so right now this pair is about funding alone: −$7 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]	65.305	L +0.0238% / S −0.0196%	pay 0.0030% / 1h	32m 05s	$93K	—	111x
Short	SunX XAG-USDT	65.300	0	get 0.0000% / 4h	32m 05s	$2K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.008%Rate

Funding earned: −$50.03
Price spread: −0.008% → −0.002%: −$0.6
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$70.63
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	261.01 bp	265.0 bp −$265	doesn't fit	doesn't fit	doesn't fit

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
Hotstuff SILVER-PERP	−0.0056%	1h	65.295	−0.015%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0037%	1h	65.190	−0.176%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.242	−0.096%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.310	+0.008%	$27.8M	$39.3M	150x	as long as short
SunX XAG-USDTshort	0.0000%	4h	65.300	−0.008%	$2K	$2.5M	20x
HTX XAG-USDT	0.0000%	4h	65.340	+0.054%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.320	+0.023%	$1.5M	$281K	100x	as long as short
Variational Omni XAG	0.0000%	4h	65.332	+0.042%	$5.5M	$9.1M	—	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.268	−0.056%	$118K	—	250x	as long as short
Aster XAGUSDT	+0.0024%	4h	65.300	−0.008%	$2.7M	$928K	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC SILVER_USDT	+0.0026%	4h	65.300	−0.008%	$120.7M	$157.6M	1000x	as long as short
Binance XAGUSDT	+0.0026%	4h	65.307	+0.002%	$191.6M	$753.7M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.293	−0.018%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.244	−0.094%	$5.0M	$11.6M	10x	as long as short
edgeX XAGUSDC	+0.0032%	4h	65.342	+0.056%	$665K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.677%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.310	+0.008%	$140.7M	$178.3M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	+0.038%	$786K	$2.9M	40x	as long as short
Aevo XAG-PERP	+0.0040%	1h	65.290	−0.022%	$47K	—	10x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.300	−0.008%	$157K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.721	+0.637%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.270	−0.054%	$169.6M	$81.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.276	−0.044%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.238	−0.103%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.291	−0.022%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.316	+0.017%	$56K	$31K	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.256	−0.075%	$466K	$31.8M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.300	−0.008%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.253	−0.080%	$464K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.260	−0.069%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.310	+0.008%	$112K	$19K	50x	as long as short
BloFin XAG-USDT	+0.0107%	4h	65.350	+0.069%	$2.7M	$574K	100x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.325	+0.030%	$1.2M	$4.8M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	65.372	+0.102%	$384K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0152%	4h	65.300	−0.008%	$23.2M	$44.7M	100x	as long as short
Nado XAG-PERP	+0.0159%	1h	65.275	−0.046%	$1.2M	$4.7M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.297	−0.011%	$5.3M	$11.1M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0166%	8h	65.300	−0.008%	$28.2M	$69.8M	50x	as long as short
Aftermath Perps XAGUSD	+0.0183%	1h	65.299	−0.009%	$79K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0184%	1h	65.313	+0.012%	$20K	$17K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0210%	1h	65.280	−0.038%	$65K	$391K	20x	as long as short
Bullet SILVER-USD	+0.0220%	1h	65.314	+0.014%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]long	L +0.0238% / S −0.0196%	1h	65.305	long leg	$93K	—	111x
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.267	−0.058%	$1.0M	$868K	25x	as long as short