Funding you earn now, next payment 10:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h +0.017%
Price spread now: Variational Omni against Phoenix+0.170%69s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
The price spread pays, funding is against you. Variational Omni is 0.170% dearer against Phoenix than usual: you sell high and buy low (spread +0.170% now, against zero (this spread has no 7-day history yet)): +$17 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 9.7 days. The two prices were read 69 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 | 65.666 | 0.0122 | pay 0.0015% / 1h | 4m 12s | $55K | $14K | 25x |
| Short | Variational Omni XAG | 65.778 | 0.0064 | get 0.0032% / 4h | 1h 04m | $5.6M | $9.0M | — |
Phoenix SILVER
Variational Omni XAGFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$12.2
- Price spread: +0.170% → 0.000%
- $16.99
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$2.21
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Phoenix: no order-book sample; Variational Omni: RFQ quote, 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 Variational Omni RFQ quote, 3 min ago | 2.58 bp | doesn't fit | 2.6 bp −$26 | 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 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff SILVER-PERP | −3.2000% | 1h | 65.769 | +0.157% | $39K | $26K | 20x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 65.705 | +0.060% | $13K | $8K | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 65.810 | +0.219% | $137.5M | $207.4M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.800 | +0.204% | $2K | $2.4M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 65.850 | +0.280% | $1.1M | $1.3M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 65.810 | +0.219% | $1.5M | $257K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.745 | +0.120% | $119K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 65.804 | +0.210% | $4.6M | $9.9M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 65.750 | +0.128% | $5.1M | $11.9M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 64.602 | −1.620% | $11K | $240 | 52x | as long as short |
Hotstuff SILVER-PERP
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERPShow all 44 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX XAG-USD | +0.0040% | 1h | 65.760 | +0.143% | $791K | $3.0M | 40x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.235 | +0.867% | — | — | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.794 | +0.195% | $3.8M | $905K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.747 | +0.123% | $3K | $6K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 65.710 | +0.067% | $5.7M | $11.2M | 25x | as long as short |
| QFEX SILVER-USD | +0.0051% | 1h | 65.790 | +0.189% | $448K | $1.4M | 20x | as long as short |
| Paradex XAG-USD-PERP | +0.0053% | 8h | 65.797 | +0.200% | $29K | — | 5x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0054% | 1h | 65.780 | +0.174% | $77K | $412K | 20x | as long as short |
| Bybit XAGUSDT | +0.0055% | 4h | 65.810 | +0.219% | $30.5M | $48.3M | 150x | as long as short |
| Variational Omni XAGshort | +0.0064% | 4h | 65.778 | +0.170% | $5.6M | $9.0M | — | |
| Aster XAGUSDT | +0.0082% | 4h | 65.815 | +0.227% | $2.7M | $1.2M | 100x | as long as short |
| tradeXYZ xyz:SILVER | +0.0088% | 1h | 65.773 | +0.163% | $176.2M | $92.8M | 25x | as long as short |
| Binance XAGUSDT | +0.0088% | 4h | 65.809 | +0.218% | $191.3M | $864.6M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0088% | 4h | 65.800 | +0.204% | $117.4M | $166.9M | 1000x | as long as short |
| Aevo XAG-PERP | +0.0096% | 1h | 65.793 | +0.194% | $47K | — | 10x | as long as short |
| edgeX XAGUSDC | +0.0097% | 4h | 65.765 | +0.150% | $670K | $314K | 30x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 65.759 | +0.141% | $465K | $523K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.780 | +0.174% | $25.4M | $4.4M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 65.720 | +0.082% | $112K | $19K | 50x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0104% | 1h | 65.620 | −0.070% | $1.6M | $1.9M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0106% | 24h | 65.814 | +0.225% | $779K | $39.2M | 8.1x | as long as short |
| GRVT XAG_USDT_Perp | +0.0110% | 4h | 65.769 | +0.157% | $391K | $1.6M | 25x | as long as short |
| RISEx XAG/USDC | +0.0116% | 1h | 65.810 | +0.219% | $1.3M | $5.4M | 20x | as long as short |
| Nado XAG-PERP | +0.0119% | 1h | 65.785 | +0.181% | $1.2M | $3.4M | 10x | as long as short |
| Phoenix SILVERlong | +0.0122% | 1h | 65.666 | long leg | $55K | $14K | 25x | |
| Lighter XAG | +0.0144% | 1h | 65.793 | +0.193% | $5.3M | $12.1M | 25x | as long as short |
| OKX XAG-USDT-SWAP | +0.0185% | 8h | 65.800 | +0.204% | $28.0M | $86.3M | 50x | as long as short |
| Aftermath Perps XAGUSD | +0.0222% | 1h | 65.737 | +0.108% | $79K | $37K | 10x | as long as short |
| Bitget XAGUSDT | +0.0224% | 4h | 65.810 | +0.219% | $23.1M | $53.1M | 100x | as long as short |
| Bullet SILVER-USD | +0.0230% | 1h | 65.820 | +0.235% | $45K | $73K | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0232% | 1h | 65.722 | +0.085% | $21K | $12K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0279% / S −0.0250% | 1h | 65.795 | +0.196% | $93K | — | 111x | as long as short |
| BloFin XAG-USDT | +0.0329% | 4h | 65.790 | +0.189% | $2.7M | $783K | 100x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0546% | 1h | 65.777 | +0.170% | $1.0M | $947K | 25x | as long as short |
StandX XAG-USD
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
QFEX SILVER-USD
Paradex XAG-USD-PERP
Deribit SILVER_USDC-PERPETUAL
Bybit XAGUSDT
Aster XAGUSDT
tradeXYZ xyz:SILVER
Binance XAGUSDT
MEXC SILVER_USDT
Aevo XAG-PERP
edgeX XAGUSDC
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Coinbase International SILVER-PERP-INTX
Kalshi KXSILVERPERP
GRVT XAG_USDT_Perp
RISEx XAG/USDC
Nado XAG-PERP
Lighter XAG
OKX XAG-USDT-SWAP
Aftermath Perps XAGUSD
Bitget XAGUSDT
Bullet SILVER-USD
Hibachi XAG/USDT-P
GMX SILVER/USD [ETH-USDC]
BloFin XAG-USDT
Kraken Futures PF_XAGUSD