Funding you earn now, next payment 06:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h −0.011%
Price spread now: Phemex against Phoenix+0.086%73s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.127%−$13 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread pays, funding is against you. Phemex is 0.086% dearer against Phoenix than usual: you sell high and buy low (spread +0.086% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 4.7 days. The two prices were read 73 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 | 65.384 | 0.0061 | pay 0.0008% / 1h | 40m 03s | $56K | $31K | 25x |
| Short | Phemex XAGUSDT | 65.440 | 0 | get 0.0000% / 4h | 1h 40m | $1.5M | $280K | 100x |
Phoenix SILVER
Phemex XAGUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$12.81
- Price spread: +0.086% → 0.000%
- $8.56
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$23.25
- Costs to cover
- 0.190%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Phemex: 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 Phemex live order book, 3 min ago | 1.53 bp | 13.4 bp −$13 | 16.9 bp −$169 | doesn't fit | 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 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi XAG/USDT-P | −0.0120% | 1h | 65.360 | −0.037% | $20K | $20K | 10x | as long as short |
| Ondo Perps XAG-USD.P | −0.0081% | 1h | 65.300 | −0.128% | $5.6M | $9.7M | 25x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 65.350 | −0.052% | $12K | $5K | 5x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.430 | +0.070% | $2K | $2.6M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 65.450 | +0.101% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDTshort | 0.0000% | 4h | 65.440 | +0.086% | $1.5M | $280K | 100x | |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.349 | −0.054% | $118K | — | 250x | as long as short |
| Bybit XAGUSDT | +0.0018% | 4h | 65.400 | +0.024% | $28.4M | $39.6M | 150x | as long as short |
| Gate XAG_USDT | +0.0030% | 4h | 65.420 | +0.055% | $141.3M | $181.2M | 100x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 65.398 | +0.022% | $4.6M | $9.8M | 25x | as long as short |
Hibachi XAG/USDT-P
Ondo Perps XAG-USD.P
dYdX XAG-USD
SunX XAG-USDT
HTX XAG-USDT
gTrade (Gains Network) XAG/USD
Bybit XAGUSDT
Gate XAG_USDT
Lighter RH XAGShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended XAG-USD | +0.0032% | 1h | 65.350 | −0.051% | $5.1M | $11.6M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +1.554% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 65.410 | +0.040% | $787K | $3.0M | 40x | as long as short |
| Aster XAGUSDT | +0.0045% | 4h | 65.395 | +0.016% | $2.7M | $973K | 100x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 65.825 | +0.674% | — | — | 25x | as long as short |
| QFEX SILVER-USD | +0.0050% | 1h | 65.390 | +0.009% | $152K | $2.8M | 20x | as long as short |
| tradeXYZ xyz:SILVER | +0.0050% | 1h | 65.364 | −0.031% | $170.3M | $83.8M | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.370 | −0.021% | $3.8M | $718K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.346 | −0.058% | $3K | $6K | 20x | as long as short |
| Paradex XAG-USD-PERP | +0.0057% | 8h | 65.398 | +0.021% | $29K | $1K | 5x | as long as short |
| Variational Omni XAG | +0.0060% | 4h | 65.414 | +0.045% | $5.5M | $9.4M | — | as long as short |
| RISEx XAG/USDC | +0.0061% | 1h | 65.412 | +0.043% | $1.3M | $4.9M | 20x | as long as short |
| Phoenix SILVERlong | +0.0061% | 1h | 65.384 | long leg | $56K | $31K | 25x | |
| Hotstuff SILVER-PERP | +0.0064% | 1h | 65.386 | +0.003% | $35K | $21K | 20x | as long as short |
| Binance XAGUSDT | +0.0076% | 4h | 65.388 | +0.007% | $189.7M | $763.3M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0076% | 4h | 65.390 | +0.009% | $115.4M | $157.1M | 1000x | as long as short |
| Kalshi KXSILVERPERP | +0.0077% | 24h | 65.386 | +0.003% | $509K | $30.5M | 8.1x | as long as short |
| Aevo XAG-PERP | +0.0088% | 1h | 65.401 | +0.027% | $47K | — | 10x | as long as short |
| edgeX XAGUSDC | +0.0090% | 4h | 65.433 | +0.075% | $666K | $314K | 30x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 65.363 | −0.032% | $467K | $627K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.380 | −0.006% | $25.4M | $5.0M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 65.410 | +0.040% | $112K | $19K | 50x | as long as short |
| Lighter XAG | +0.0104% | 1h | 65.400 | +0.025% | $5.4M | $11.3M | 25x | as long as short |
| Nado XAG-PERP | +0.0114% | 1h | 65.360 | −0.036% | $1.2M | $5.5M | 10x | as long as short |
| GRVT XAG_USDT_Perp | +0.0116% | 4h | 65.427 | +0.066% | $397K | $1.6M | 25x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0120% | 1h | 65.380 | −0.006% | $1.6M | $1.4M | 20x | as long as short |
| Bullet SILVER-USD | +0.0156% | 1h | 65.416 | +0.049% | $43K | $77K | 10x | as long as short |
| Bitget XAGUSDT | +0.0186% | 4h | 65.390 | +0.009% | $23.8M | $46.6M | 100x | as long as short |
| OKX XAG-USDT-SWAP | +0.0189% | 8h | 65.400 | +0.024% | $27.9M | $71.3M | 50x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0209% | 1h | 65.390 | +0.009% | $65K | $374K | 20x | as long as short |
| Aftermath Perps XAGUSD | +0.0212% | 1h | 65.408 | +0.036% | $79K | $37K | 10x | as long as short |
| BloFin XAG-USDT | +0.0306% | 4h | 65.440 | +0.086% | $2.6M | $610K | 100x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0318% / S −0.0301% | 1h | 65.415 | +0.047% | $93K | — | 111x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0492% | 1h | 65.380 | −0.006% | $916K | $746K | 25x | as long as short |
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USD
Aster XAGUSDT
Vest SI-PERP
QFEX SILVER-USD
tradeXYZ xyz:SILVER
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Paradex XAG-USD-PERP
Variational Omni XAG
RISEx XAG/USDC
Hotstuff SILVER-PERP
Binance XAGUSDT
MEXC SILVER_USDT
Kalshi KXSILVERPERP
Aevo XAG-PERP
edgeX XAGUSDC
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Lighter XAG
Nado XAG-PERP
GRVT XAG_USDT_Perp
Coinbase International SILVER-PERP-INTX
Bullet SILVER-USD
Bitget XAGUSDT
OKX XAG-USDT-SWAP
Deribit SILVER_USDC-PERPETUAL
Aftermath Perps XAGUSD
BloFin XAG-USDT
GMX SILVER/USD [ETH-USDC]
Kraken Futures PF_XAGUSD