XAG

Alert

Spread before costs (cost unknown: a leg has no order-book sample)−0.056%

7d average—if it closes, per $10,000$6funding while held, a day−$1.50

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SILVER-USD	66.205	0.0050	pay 0.0006% / 1h	22m 22s	$4K	$4K	20x
Short	Phoenix SILVER	66.168	0	get 0.0000% / 1h	22m 22s	$56K	$26K	25x

Price spread history

latest

Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs

Backtest 7 days Backtest 30 days Backtest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Position, each leg$Hold forhoursFee SoDEXbpFee PhoenixbpOrdersClose when spread is

Spread captured: −$5.59
Funding while held: −$1.5
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$22.09
Spread needed to break even: 0.150%

Slippage unknown: SoDEX: no order-book sample; Phoenix: no order-book sample. Net counts fees only.

Cost of waiting

funding view

Funding /8h: −0.0050%
Per $10,000 a day: −$1.50
Average in range /8h: —

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 SoDEX no order-book sample	—	—	—	—	—
Sell Phoenix no order-book sample	—	—	—	—	—

SoDEX and 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 price on every exchange

against the cheapest. Click to use as the short leg.

Phoenix66.168cheapest

dYdX66.187+0.029%Ondo Perps66.190+0.033%StandX66.190+0.033%Kalshi66.196+0.042%gTrade (Gains Network)66.203+0.053%Aftermath Perps66.204+0.055%

SoDEX66.205+0.056%

Extended66.209+0.062%Hotstuff66.209+0.062%Hibachi66.212+0.067%Polymarket Perps66.214+0.070%tradeXYZ66.216+0.073%Pacifica66.219+0.077%Variational Omni66.219+0.078%ApeX Omni66.220+0.079%Nado66.224+0.085%Phemex66.230+0.094%QFEX66.240+0.109%KuCoin66.240+0.109%Kraken Futures66.242+0.112%MEXC66.250+0.124%Deribit66.250+0.124%BloFin66.250+0.124%edgeX66.255+0.131%GMX66.255+0.131%Aevo66.257+0.135%Paradex66.258+0.135%Lighter RH66.259+0.138%Binance66.260+0.139%OKX66.260+0.139%Gate66.260+0.139%SunX66.260+0.139%Coinbase International66.260+0.139%HTX66.260+0.139%Lighter66.265+0.147%RISEx66.266+0.148%Bullet66.268+0.151%Bybit66.270+0.154%Bitget66.270+0.154%Aster66.278+0.167%Injective66.400+0.351%Vest66.701+0.806%

XAG on 43 venues

cheapest first. Swap a leg.

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Phoenix SILVERshort	−0.056%	0.0000%	1h	$56K	$26K	25x
dYdX XAG-USD	−0.027%	0.0000%	1h	$15K	$997	5x	as long as short
Ondo Perps XAG-USD.P	−0.023%	−0.0053%	1h	$6.1M	$8.0M	25x	as long as short
StandX XAG-USD	−0.023%	+0.0040%	1h	$701K	$1.7M	40x	as long as short
Kalshi KXSILVERPERP	−0.014%	0.0000%	24h	$704K	$18.7M	8.1x	as long as short
gTrade (Gains Network) XAG/USD	−0.003%	L +0.0004% / S −0.0006%	1h	$115K	—	250x	as long as short
Aftermath Perps XAGUSD	−0.001%	+0.0107%	1h	$80K	$39K	10x	as long as short
SoDEX SILVER-USDlong	0.000%	+0.0050%	1h	$4K	$4K	20x
Extended XAG-USD	+0.006%	+0.0064%	1h	$4.7M	$14.1M	10x	as long as short
Hotstuff SILVER-PERP	+0.006%	+0.0144%	1h	$31K	$13K	20x	as long as short

Show all 43 venues

Exchange	vs long leg	Funding /8h	Every	OI	Vol 24h	Max lev
Hibachi XAG/USDT-P	+0.011%	+0.0192%	1h	$20K	$20K	10x	as long as short
Polymarket Perps SILVER-USD	+0.014%	+0.0050%	1h	$3.7M	$244K	20x	as long as short
tradeXYZ xyz:SILVER	+0.017%	+0.0050%	1h	$159.9M	$90.4M	25x	as long as short
Pacifica XAG	+0.021%	+0.0100%	1h	$477K	$687K	10x	as long as short
Variational Omni XAG	+0.022%	+0.0052%	4h	$5.7M	$12.1M	—	as long as short
ApeX Omni XAGUSDT	+0.023%	+0.0100%	1h	$113K	$189K	50x	as long as short
Nado XAG-PERP	+0.029%	+0.0097%	1h	$1.2M	$6.1M	10x	as long as short
Phemex XAGUSDT	+0.038%	0.0000%	4h	$1.5M	$247K	100x	as long as short
QFEX SILVER-USD	+0.053%	+0.0040%	1h	$145K	$2.8M	20x	as long as short
KuCoin XAGUSDTM	+0.053%	+0.0100%	4h	$24.6M	$3.4M	75x	as long as short
Kraken Futures PF_XAGUSD	+0.056%	+0.0011%	1h	$807K	$621K	25x	as long as short
MEXC SILVER_USDT	+0.068%	+0.0058%	4h	$119.0M	$176.9M	1000x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.068%	+0.0203%	1h	$88K	$612K	20x	as long as short
BloFin XAG-USDT	+0.068%	+0.0015%	4h	$2.7M	$1.6M	100x	as long as short
edgeX XAGUSDC	+0.075%	+0.0070%	4h	$669K	$318K	30x	as long as short
GMX SILVER/USD [ETH-USDC]	+0.076%	L +0.0271% / S −0.0275%	1h	$85K	—	111x	as long as short
Aevo XAG-PERP	+0.079%	+0.0072%	1h	$48K	—	10x	as long as short
Paradex XAG-USD-PERP	+0.079%	+0.0056%	8h	$30K	$1K	5x	as long as short
Lighter RH XAG	+0.082%	+0.0032%	1h	$4.5M	$8.5M	25x	as long as short
Binance XAGUSDT	+0.083%	+0.0059%	4h	$187.4M	$752.2M	100x	as long as short
OKX XAG-USDT-SWAP	+0.083%	+0.0127%	8h	$27.9M	$62.4M	50x	as long as short
Gate XAG_USDT	+0.083%	0.0000%	4h	$130.4M	$182.5M	100x	as long as short
SunX XAG-USDT	+0.083%	0.0000%	4h	$2K	$3.5M	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.083%	+0.0224%	1h	$1.8M	$1.1M	20x	as long as short
HTX XAG-USDT	+0.083%	0.0000%	4h	$1.0M	$894K	75x	as long as short
Lighter XAG	+0.091%	+0.0080%	1h	$5.4M	$10.2M	25x	as long as short
RISEx XAG/USDC	+0.092%	0.0000%	1h	$1.4M	$3.3M	20x	as long as short
Bullet SILVER-USD	+0.095%	+0.0147%	1h	$45K	$77K	10x	as long as short
Bybit XAGUSDT	+0.098%	+0.0097%	4h	$24.3M	$35.6M	150x	as long as short
Bitget XAGUSDT	+0.098%	+0.0170%	4h	$22.9M	$47.4M	100x	as long as short
Aster XAGUSDT	+0.111%	+0.0015%	4h	$2.8M	$1.2M	100x	as long as short
Injective XAG/USDC PERP	+0.295%	+0.0033%	1h	$11K	$218K	52x	as long as short
Vest SI-PERP	+0.749%	+0.0046%	1h	—	—	25x	as long as short