Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0223%/8h= +24.4% APRpaid last 24h +0.025%

Price spread now: GMX against OKX−0.008%7-day average +0.020% · you buy dearer than you sell

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

Long on OKX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.133%+$13 on $10k

Price spread, last 4 days (all we have)+0.075%+$8 · spread now −0.008%, 7d avg +0.020%

Together, before fees+0.208%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.028% cheaper against OKX than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.020%). If the spread goes back, that is −$3 on $10k: about 10 hours of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAG-USDT-SWAP	66.140	0.0220	pay 0.0220% / 8h	2h 45m	$27.8M	$64.6M	50x
Short	GMX SILVER/USD [ETH-USDC]	66.135	L +0.0388% / S −0.0443%	get 0.0055% / 1h	45m 53s	$106K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.008%Rate

Funding earned: $46.73
Price spread: −0.008% → +0.020%: −$2.79
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $21.95
Costs to cover: 0.220%
Break-even: 3.7 days

Slippage unknown: OKX: live order book, 3 min ago; GMX: no order-book sample. 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 OKX live order book, 3 min ago	0.76 bp	5.8 bp −$6	6.5 bp −$65	11.3 bp −$1,130	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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
Ondo Perps XAG-USD.P	−0.0026%	1h	66.030	−0.166%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.104	−0.054%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.140	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.200	+0.091%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.140	0.000%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.077	−0.095%	$121K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	66.145	+0.008%	$1.3M	$4.8M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.126	−0.022%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.078	−0.093%	$5.2M	$11.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.393%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SILVER	+0.0036%	1h	66.096	−0.067%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.140	0.000%	$796K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0044%	4h	66.150	+0.015%	$149.9M	$154.0M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.571	+0.652%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.109	−0.047%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.072	−0.103%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.120	−0.030%	$114K	$2.7M	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	66.136	−0.007%	$30K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0067%	1h	66.098	−0.064%	$166.6M	$73.9M	25x	as long as short
Bybit XAGUSDT	+0.0072%	4h	66.150	+0.015%	$27.8M	$36.2M	150x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	66.112	−0.042%	$519K	$26.7M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.096	−0.066%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.100	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.100	−0.060%	$113K	$30K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.130	−0.015%	$2.6M	$571K	100x	as long as short
Aster XAGUSDT	+0.0107%	4h	66.159	+0.028%	$2.7M	$873K	100x	as long as short
Lighter XAG	+0.0136%	1h	66.126	−0.021%	$5.3M	$10.6M	25x	as long as short
Variational Omni XAG	+0.0144%	4h	66.123	−0.025%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0152%	1h	66.130	−0.015%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0159%	4h	66.155	+0.023%	$191.2M	$703.0M	100x	as long as short
MEXC SILVER_USDT	+0.0160%	4h	66.130	−0.015%	$116.4M	$151.8M	1000x	as long as short
Nado XAG-PERP	+0.0163%	1h	66.114	−0.039%	$1.4M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0174%	4h	66.143	+0.005%	$671K	$312K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.980	−0.242%	$1.8M	$1.0M	20x	as long as short
Aftermath Perps XAGUSD	+0.0194%	1h	66.093	−0.071%	$79K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.120	−0.030%	$74K	$364K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0206%	4h	66.160	+0.030%	$395K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0220%	4h	66.140	0.000%	$24.0M	$44.8M	100x	as long as short
OKX XAG-USDT-SWAPlong	+0.0220%	8h	66.140	long leg	$27.8M	$64.6M	50x
Bullet SILVER-USD	+0.0226%	1h	66.150	+0.015%	$43K	$76K	10x	as long as short
Hotstuff SILVER-PERP	+0.0232%	1h	66.121	−0.029%	$35K	$21K	20x	as long as short
Hibachi XAG/USDT-P	+0.0320%	1h	66.098	−0.063%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0388% / S −0.0443%	1h	66.135	−0.008%	$106K	—	111x
Kraken Futures PF_XAGUSD	+0.0466%	1h	66.110	−0.046%	$909K	$688K	25x	as long as short