Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0084%/8h= −9.2% APRpaid last 24h −0.014%

Price spread now: HTX against Phoenix−0.065%72s7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.133%−$13 on $10k

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.065% cheaper against Phoenix than usual: you would sell low and buy high (−$6 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 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	66.303	0.0084	pay 0.0011% / 1h	50m 23s	$56K	$26K	25x
Short	HTX XAG-USDT	66.260	0	get 0.0000% / 4h	1h 50m	$1.0M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$17.74
Price spread: −0.065% → 0.000%: −$6.49
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$43.22
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Phoenix: no order-book sample; HTX: 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 Phoenix no order-book sample	—	—	—	—	—
Sell HTX live order book, 3 min ago	4.52 bp	11.8 bp −$12	12.0 bp −$120	15.2 bp −$1,520	doesn't fit

Phoenix: 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	−0.188%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.260	−0.065%	$151.7M	$161.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	−0.080%	$2K	$2.7M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.260	−0.065%	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.250	−0.080%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.184	−0.179%	$121K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0017%	1h	66.160	−0.216%	$5.7M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.228	−0.113%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.246	−0.086%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.182	−0.182%	$5.3M	$12.1M	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.146%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.230	−0.110%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.693	+0.588%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.218	−0.128%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.171	−0.199%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.250	−0.080%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.249	−0.081%	$547K	$24.5M	8.1x	as long as short
Phoenix SILVERlong	+0.0084%	1h	66.303	long leg	$56K	$26K	25x
tradeXYZ xyz:SILVER	+0.0093%	1h	66.215	−0.133%	$165.8M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.206	−0.146%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.140%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.041%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0137%	8h	66.255	−0.072%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0138%	4h	66.240	−0.095%	$2.7M	$917K	100x	as long as short
Bybit XAGUSDT	+0.0141%	4h	66.270	−0.050%	$26.7M	$36.2M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.231	−0.109%	$48K	—	10x	as long as short
Lighter XAG	+0.0176%	1h	66.255	−0.073%	$5.3M	$10.4M	25x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	−0.092%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.267	−0.054%	$1.2M	$4.4M	20x	as long as short
Binance XAGUSDT	+0.0191%	4h	66.254	−0.074%	$191.9M	$705.9M	100x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.240	−0.095%	$110.5M	$151.8M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.071%	$1.9M	$972K	20x	as long as short
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.095%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.250	−0.080%	$27.8M	$65.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0233%	1h	66.266	−0.056%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0238%	1h	66.215	−0.133%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	66.199	−0.157%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0254%	4h	66.250	−0.080%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0266%	1h	66.264	−0.059%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.380	+0.116%	$393K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0331% / S −0.0342%	1h	66.255	−0.072%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.220	−0.125%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.208	−0.143%	$763K	$475K	25x	as long as short