XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0152%/8h= −16.6% APRnext payment −$0.76 per $10,000 · paid last 24h −0.032%

Price spread now: Phemex against MEXC+0.015%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$240.239% of the position

Long on MEXC Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 3 days (all we have)+0.098%+$10 · spread now +0.015%, 7d avg +0.061%

Together, before fees+0.041%+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Phemex is 0.046% cheaper against MEXC than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.061%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SILVER_USDT	66.390	0.0152	pay 0.0076% / 4h	2h 37m	$102.2M	$158.0M	1000x
Short	Phemex XAGUSDT	66.400	0	get 0.0000% / 4h	2h 37m	$1.5M	$250K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against MEXC. 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 MEXCbpFee PhemexbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$31.92
Price spread: +0.015% → +0.061%: −$4.56
Slippage, 4 orders: −$11.91
Fee MEXC: 0 bp × 2 orders: $0
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$60.39
Costs to cover: 0.239%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Phemex: live order book, 5 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 MEXC live order book, 1 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	1.5 bp −$146	4.2 bp −$2,076
Sell Phemex live order book, 5 min ago	3.01 bp	11.9 bp −$12	15.4 bp −$154	doesn't fit	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	66.294	−0.144%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.380	−0.015%	$153.7M	$162.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.380	−0.015%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.550	+0.241%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDTshort	0.0000%	4h	66.400	+0.015%	$1.5M	$250K	100x
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.303	−0.132%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.366	−0.037%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.309	−0.121%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.015%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.530	+0.211%	$800K	$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	66.874	+0.729%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	+0.035%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.368	−0.033%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.303	−0.131%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.350	−0.060%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.430	+0.060%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.361	−0.044%	$577K	$23.1M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.450	+0.090%	$1.2M	$4.3M	20x	as long as short
Bybit XAGUSDT	+0.0080%	4h	66.410	+0.030%	$26.4M	$35.9M	150x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.349	−0.062%	$165.6M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.328	−0.093%	$472K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.350	−0.060%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.490	+0.151%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.271%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0118%	4h	66.360	−0.045%	$2.7M	$968K	100x	as long as short
Paradex XAG-USD-PERP	+0.0123%	8h	66.372	−0.027%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	+0.173%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.362	−0.042%	$48K	—	10x	as long as short
MEXC SILVER_USDTlong	+0.0152%	4h	66.390	long leg	$102.2M	$158.0M	1000x
Binance XAGUSDT	+0.0153%	4h	66.384	−0.009%	$192.6M	$708.1M	100x	as long as short
edgeX XAGUSDC	+0.0153%	4h	66.569	+0.269%	$676K	$313K	30x	as long as short
Lighter XAG	+0.0160%	1h	66.377	−0.020%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.196%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.380	−0.015%	$28.0M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.456	+0.099%	$80K	$38K	10x	as long as short
Hotstuff SILVER-PERP	+0.0224%	1h	66.483	+0.140%	$35K	$21K	20x	as long as short
Nado XAG-PERP	+0.0225%	1h	66.386	−0.006%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.400	+0.015%	$24.4M	$45.9M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0238%	4h	66.520	+0.196%	$400K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.473	+0.124%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.388	−0.003%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.375	−0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	−0.060%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.346	−0.066%	$765K	$472K	25x	as long as short