Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 19:00 UTC+0.0224%/8hnext payment +$0.28 per $10,000 · paid last 24h +0.042%

Price spread now: GMX against Phoenix+0.056%65s7-day average — · you sell dearer than you buy

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

Long on Phoenix Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and GMX is 0.056% dearer against Phoenix than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix SILVER	66.228	0.0036	pay 0.0005% / 1h	22m 00s	$56K	$26K	25x
Short	GMX SILVER/USD [ETH-USDC]	66.265	L +0.0277% / S −0.0261%	get 0.0033% / 1h	22m 00s	$103K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Phoenix. 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 PhoenixbpFee GMXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $47.14
Price spread: +0.056% → 0.000%: $5.59
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $33.72
Costs to cover: 0.190%
Break-even: 2.0 days

Slippage unknown: Phoenix: no order-book sample; 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 Phoenix no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Phoenix and 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	−0.0062%	1h	66.150	−0.118%	$6.2M	$8.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.222	−0.010%	$15K	$997	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.232	+0.006%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.250	+0.033%	$133.4M	$192.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.260	+0.048%	$2K	$3.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.300	+0.109%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.260	+0.048%	$1.5M	$258K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.210	−0.027%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.240	+0.018%	$4.7M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.189	−0.059%	$5.4M	$14.9M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.260%	$11K	$94K	52x	as long as short
Phoenix SILVERlong	+0.0036%	1h	66.228	long leg	$56K	$26K	25x
Kalshi KXSILVERPERP	+0.0040%	24h	66.238	+0.015%	$691K	$21.6M	8.1x	as long as short
StandX XAG-USD	+0.0040%	1h	66.190	−0.057%	$700K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.716	+0.737%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.223	−0.008%	$161.8M	$94.9M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.231	+0.005%	$3.9M	$740K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.205	−0.035%	$4K	$5K	20x	as long as short
QFEX SILVER-USD	+0.0052%	1h	66.250	+0.033%	$134K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0063%	4h	66.230	+0.003%	$2.6M	$1.4M	100x	as long as short
Paradex XAG-USD-PERP	+0.0077%	8h	66.260	+0.048%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0096%	4h	66.258	+0.045%	$2.8M	$1.2M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.217	−0.017%	$474K	$701K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.200	−0.042%	$24.1M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.210	−0.027%	$113K	$88K	50x	as long as short
Lighter XAG	+0.0104%	1h	66.242	+0.021%	$5.5M	$10.7M	25x	as long as short
Variational Omni XAG	+0.0118%	4h	66.215	−0.020%	$5.6M	$12.6M	—	as long as short
MEXC SILVER_USDT	+0.0120%	4h	66.240	+0.018%	$123.9M	$188.0M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.263	+0.053%	$48K	—	10x	as long as short
Binance XAGUSDT	+0.0122%	4h	66.246	+0.027%	$191.8M	$787.6M	100x	as long as short
edgeX XAGUSDC	+0.0140%	4h	66.232	+0.006%	$670K	$313K	30x	as long as short
Bybit XAGUSDT	+0.0156%	4h	66.250	+0.033%	$25.2M	$37.7M	150x	as long as short
RISEx XAG/USDC	+0.0161%	1h	66.270	+0.063%	$1.4M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0166%	1h	66.218	−0.014%	$1.3M	$6.5M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0167%	8h	66.250	+0.033%	$27.4M	$67.8M	50x	as long as short
Bullet SILVER-USD	+0.0174%	1h	66.273	+0.067%	$45K	$77K	10x	as long as short
Aftermath Perps XAGUSD	+0.0180%	1h	66.188	−0.061%	$80K	$39K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.040	−0.284%	$1.9M	$1.2M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0203%	1h	66.250	+0.033%	$88K	$501K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0214%	4h	66.260	+0.048%	$398K	$1.7M	25x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	66.202	−0.039%	$20K	$21K	10x	as long as short
GMX SILVER/USD [ETH-USDC]short	L +0.0277% / S −0.0261%	1h	66.265	+0.056%	$103K	—	111x
Bitget XAGUSDT	+0.0284%	4h	66.240	+0.018%	$23.4M	$50.7M	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0421%	1h	66.238	+0.016%	$779K	$644K	25x	as long as short