Commodities perp · up to 1000x · 31 venues

Silver perpetual futures (XAG)

At 03:05 UTC on November 12, 2026, the Silver (XAG) perp traded at $51.62 (-1.73% over 24 hours), with $749.2M in open interest across 31 venues, led by Binance with 30%. Maximum leverage is 1000x, on MEXC; open-interest-weighted funding is 4.9% annualized.

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As of Nov 12, 03:05 UTC

Veranta, 170 markets
trade.xyz, 110 markets
Lighter, 209 markets
Aster, 577 markets
GMX, 143 markets
Paradex, 66 markets
Extended, 340 markets
QFEX, 237 markets
Orderly, 142 markets
Nado, 74 markets
Kraken Futures, 209 markets
Variational, 588 markets
Pacifica, 78 markets
edgeX, 157 markets
GRVT, 184 markets
Aevo, unavailable
gTrade, 178 markets
Ostium, 83 markets
Hibachi, 15 markets
OKX, 543 markets
Bitget, 930 markets
Gate, 1077 markets
MEXC, 1204 markets
HTX, 410 markets
KuCoin, 721 markets
Deribit, 144 markets
Bitfinex, 76 markets
Phemex, 147 markets
Binance, 758 markets
WhiteBIT, 395 markets
Crypto.com, 414 markets
Kalshi, 86 markets

Overview Leverage & venues Funding Open interest Liquidations Volume & flow News & changes

$51.62Live

Loading the price chart.

XAG at a glance

Open interest

Chart

$749.2M -2.8% 24h

Venue	Open interest	24h change
Binance	$228.5M
MEXC	$164.7M	-1.7%
trade.xyz	$99.5M	-1.0%
Gate	$69.3M	-10.1%

Volume, 24h

Chart

$1.4B +529.4% d/d

Volume / OI: 1.81x
Nov 9, full day: $1.6B

Nov 5: $2.8B
Nov 6: $1.7B
Nov 7: $49.9M
Nov 8: $259.8M
Nov 9: $1.6B

Nov 5Daily volume, 5 daysNov 9

Funding

Chart

+4.9% a year

Widest venue gap: 51.5% long Hibachi, short Crypto.com
Paid over 24h, MEXC: +0.015% longs paid

Liquidations

Chart

$766.8K 24h

LongsShorts

Window	Longs liquidated against shorts liquidated	Amount
1h		recording
4h		recording
24h		recording
7d		recording

Taker flow

Chart

50% buys, 24h

BuysSells

Window	Taker buys against taker sells	Amount
1h		recording
4h		recording
24h		recording
7d		recording

Long vs short

Accounts

45% long, large accounts

Long / short: $46.0M / $57.3M
Accounts: 42 long · 15 short (2.80 L/S)

Veranta, every trader: 49% long of $507.7K

Liquidity ±1%

No order book depth for this market.

Liquidations within 5%

Map

Longs, price down 5%: $994.2K
Shorts, price up 5%: $0

Heaviest long level: $678.5K near $50.14 (-2.9%)

Leverage

$1,000 at 10x: a $10,000 position, $100 per 1% move

Liquidation price: $46.48
Position: $10,000
Today at 10x: −$173
Hold a day: $0.00

XAG at 10x long by venue
Venue	Offers 10x	Liquidation	Room	Hold a day
MEXC	Yes	$46.48	−10.0%	$0.00
GMX	Yes	$46.69	−9.5%	−$15.94
OKX	Yes	$46.69	−9.5%	−$2.66
Bitget	Yes	$46.69	−9.5%	−$4.32
Gate	Yes	$46.69	−9.5%	$0.00
Bitfinex	Yes	$46.69	−9.5%	−$1.38
Phemex	Yes	$46.69	−9.5%	$0.00
WhiteBIT	Yes	$46.69	−9.5%	−$6.00
HTX	Yes	$46.77	−9.4%	−$0.96
KuCoin	Yes	$46.77	−9.4%	−$1.92
Crypto.com	Yes	$46.93	−9.1%	−$7.16
gTrade	Yes	$46.97	−9.0%	−$5.17
Ostium	Yes	$46.97	−9.0%	−$2.53
Veranta	Yes	$47.23	−8.5%	−$1.47
edgeX	Yes	$47.25	−8.5%	−$0.18
trade.xyz	Yes	$47.41	−8.2%	−$1.50
Kraken Futures	Yes	$47.41	−8.2%	−$3.71
Lighter	Yes	$47.60	−7.8%	−$0.96
QFEX	Yes	$47.65	−7.7%	−$4.34
Orderly	Yes	$47.65	−7.7%	−$4.68
Deribit	Yes	$47.65	−7.7%	−$6.45
Extended	Yes	$48.90	−5.3%	−$0.96
Nado	Yes	$48.90	−5.3%	−$3.84
Pacifica	Yes	$48.90	−5.3%	−$3.00

Below 10x:Kalshi Paradex Aster cap not publishedVariational cap not publishedGRVT cap not publishedHibachi cap not publishedBinance cap not published

Also at 10x

Every index, commodity and FX perp at 10x ›

XAG perpetual market

Funding spread 51.5% · long Hibachi, short Crypto.com · Price dispersion 28.5 bps

Shorts pay Longs pay

Dimmed: 7 venues that cap below your 10x.


Binance · daily	XAGUSDT	–	–	$228.5M	–	30%	$760.2M	3.33x	–	–
MEXC	SILVER_USDT	$51.63	-1.45%	$164.7M	-1.7%	22%	$165.2M	1.00x	0.0%	1000x
trade.xyz	xyz:SILVER	$51.58	-1.66%	$99.5M	-1.0%	13%	$49.6M	0.50x	+5.5%	25x
Gate	XAG_USDT	$51.64	-1.41%	$69.3M	-10.1%	9.3%	$205.1M	2.96x	0.0%	100x
OKX	XAG-USDT-SWAP	$51.64	-1.43%	$41.6M	-1.7%	5.5%	$56.1M	1.35x	+9.7%	100x
WhiteBIT	XAG_PERP	$51.60	-1.64%	$30.4M	+1.4%	4.1%	$7.1M	0.23x	+21.9%	100x
Bitget	XAGUSDT	$51.63	-1.45%	$29.9M	-3.9%	4.0%	$43.5M	1.45x	+15.8%	100x
Aster	XAGUSD1	$51.66	-1.92%	$27.0M	-5.9%	3.6%	$4.1M	0.15x	0.0%	–
KuCoin	XAGUSDTM	$51.66	-1.39%	$19.2M	-5.0%	2.6%	$1.5M	0.08x	+7.0%	75x
Variational	XAG	$51.61	-1.41%	$8.3M	+4.8%	1.1%	$3.4M	0.41x	0.0%	–
QFEX	SILVER-USD	$51.59	-1.41%	$6.7M	+15.6%	0.9%	$4.4M	0.66x	+15.8%	20x
Lighter	XAG	$51.59	-1.98%	$5.7M	+3.3%	0.8%	$17.3M	3.04x	+3.5%	25x
Extended	XAG-USD	$51.57	-1.38%	$2.7M	-7.8%	0.4%	$3.4M	1.27x	+3.5%	10x
Nado	XAG-PERP	$51.60	-1.44%	$2.6M	-1.3%	0.3%	$396.9K	0.15x	+14.0%	10x
Deribit	SILVER_USDC-PERPETUAL	$51.55	-1.53%	$2.6M	+8.5%	0.3%	$3.0M	1.18x	+23.5%	20x
Kraken Futures	PF_XAGUSD	$51.58	-1.38%	$2.1M	+2.8%	0.3%	$1.1M	0.55x	+13.6%	25x
Phemex	XAGUSDT	$51.66	-1.45%	$1.6M	-37.6%	0.2%	$5.3M	3.28x	0.0%	100x
HTX	XAG-USDT	$51.62	-1.58%	$1.6M	+1.7%	0.2%	$742.7K	0.46x	+3.5%	75x
Kalshi	KXSILVERPERP	$51.55	-1.50%	$1.5M	-19.4%	0.2%	$17.0M	11.22x	+10.5%	8.3x
Crypto.com	XAGUSD-PERP	$51.54	-1.44%	$897.5K	-3.5%	0.1%	$775.9K	0.86x	+26.1%	50x
Pacifica	XAG	$51.58	-1.38%	$591.5K	+0.5%	<0.1%	$127.6K	0.22x	+10.9%	10x
edgeX	XAGUSDC	$51.58	-1.46%	$578.9K	-2.2%	<0.1%	$501.5K	0.87x	+0.7%	30x
GMX	arb:SILVER/USD [WETH-USDC]	$51.67	-1.39%	$557.7K	+296.6%	<0.1%	$488.5K	0.88x	+15.3%	100x
Veranta	XAG/USD	–	–	$507.7K	+0.2%	<0.1%	not published	–	0.0%	75x
GRVT	XAG_USDT_Perp	$51.65	-1.48%	$324.7K	+1.2%	<0.1%	$2.0M	6.01x	0.0%	–
Orderly	PERP_XAG_USDC	$51.57	-1.45%	$160.3K	+3.0%	<0.1%	$62.6K	0.39x	+17.1%	20x
Ostium	XAG/USD	$51.52	-1.49%	$90.6K	+0.3%	<0.1%	not published	–	0.0%	25x
Hibachi	XAG/USDT-P	$51.55	-1.46%	$35.3K	+11.1%	<0.1%	$43.4K	1.23x	-25.4%	–
gTrade	XAG/USD	$51.54	-1.46%	$33.0K	-2.5%	<0.1%	not published	–	+15.9%	250x
Paradex	XAG-USD-PERP	$51.61	-1.41%	$24.2K	-1.3%	<0.1%	$0	0.00x	+6.2%	5x
Bitfinex	tXAGF0:USTF0	$51.64	-1.40%	$341	-1.2%	<0.1%	$52	0.15x	+5.0%	100x
All venues		$51.62	-1.73%	$749.2M	-2.8%	100%	$1.4B	1.81x	+4.9%	1000x

Veranta positioning

Long pays: +5.4%
Short pays: +2.7%
Open interest: $507.7K
Max: 75x

Every Veranta market ›

XAG funding rate

XAG funding is +4.9% a year, weighted by open interest across 31 venues, with 51.5% between the highest and lowest venue.

XAG funding settlements, 7 days

Veranta

Latest settled 0.0% APR · hourly

trade.xyz

Latest settled +5.5% APR · hourly

2 settlements beyond the shared scale, drawn at the edge.

Lighter

Latest settled +7.0% APR · hourly

2 settlements beyond the shared scale, drawn at the edge.

Aster

Latest settled 0.0% APR · every 4h

GMX

Latest settled +15.3% APR · hourly

Paradex

Latest settled +7.0% APR · every 8h

1 settlement beyond the shared scale, drawn at the edge.

Extended

Latest settled +3.5% APR · hourly

3 settlements beyond the shared scale, drawn at the edge.

QFEX

Latest settled +13.3% APR · hourly

Orderly

Latest settled +10.9% APR · every 4h

Nado

Latest settled +11.7% APR · hourly

Kraken Futures

Latest settled +8.3% APR · hourly

1 settlement beyond the shared scale, drawn at the edge.

Variational

Latest settled 0.0% APR · every 4h

1 settlement beyond the shared scale, drawn at the edge.

Pacifica

Latest settled +10.9% APR · hourly

3 settlements beyond the shared scale, drawn at the edge.

edgeX

Latest settled +4.1% APR · every 4h

GRVT

Latest settled +1.4% APR · every 4h

gTrade

Latest settled +15.9% APR · hourly

Ostium

Latest settled 0.0% APR · hourly

Hibachi

Latest settled -11.4% APR · hourly

58 settlements beyond the shared scale, drawn at the edge.

OKX

Latest settled +10.7% APR · every 8h

Bitget

Latest settled +15.8% APR · every 4h

Gate

Latest settled 0.0% APR · every 4h

MEXC

Latest settled +2.8% APR · every 4h

HTX

Latest settled +8.0% APR · every 4h

KuCoin

Latest settled +7.7% APR · every 4h

Deribit

Latest settled +28.7% APR · hourly

1 settlement beyond the shared scale, drawn at the edge.

Bitfinex

Latest settled +5.0% APR · every 8h

3 settlements beyond the shared scale, drawn at the edge.

Phemex

Latest settled 0.0% APR · every 4h

WhiteBIT

Latest settled +21.9% APR · every 4h

2 settlements beyond the shared scale, drawn at the edge.

Crypto.com

Latest settled +26.1% APR · hourly

20 settlements beyond the shared scale, drawn at the edge.

Kalshi

Latest settled +10.5% APR · every 24h

Venue	Settlements	7-day avg APR	Lowest	Highest	Longs paid
Veranta	167	0.0%	0.0%	0.0%	0% of hours
trade.xyz	167	+4.1%	-108.0%	+15.9%	94% of hours
Lighter	167	+3.8%	-97.2%	+15.8%	97% of hours
Aster	42	+0.4%	-1.1%	+5.5%	12% of hours
GMX	167	+15.3%	+9.7%	+29.0%	100% of hours
Paradex	167	+6.0%	-46.3%	+13.5%	99% of hours
Extended	167	+5.7%	-125.3%	+44.7%	97% of hours
QFEX	167	+4.5%	-6.7%	+17.5%	65% of hours
Orderly	47	+13.7%	-20.8%	+21.1%	98% of hours
Nado	167	+16.7%	-5.2%	+40.5%	99% of hours
Kraken Futures	167	+16.0%	-29.1%	+50.4%	85% of hours
Variational	167	+1.1%	-63.6%	+20.0%	20% of hours
Pacifica	167	+9.0%	-166.8%	+10.9%	98% of hours
edgeX	47	+2.8%	-4.0%	+22.0%	98% of hours
GRVT	47	+0.1%	-6.1%	+4.6%	11% of hours
gTrade	167	+15.9%	+15.9%	+15.9%	100% of hours
Ostium	167	0.0%	0.0%	0.0%	0% of hours
Hibachi	167	+33.3%	-210.2%	+212.9%	60% of hours
OKX	30	+3.9%	0.0%	+18.2%	44% of hours
Bitget	47	+4.6%	0.0%	+26.3%	43% of hours
Gate	47	+0.2%	0.0%	+16.2%	2% of hours
MEXC	47	+1.7%	-7.0%	+21.5%	26% of hours
HTX	47	+2.2%	0.0%	+29.0%	24% of hours
KuCoin	47	+2.9%	0.0%	+21.5%	27% of hours
Deribit	167	+17.6%	-2.2%	+61.2%	98% of hours
Bitfinex	23	-24.6%	-273.8%	+22.9%	20% of hours
Phemex	44	+4.0%	0.0%	+47.2%	12% of hours
WhiteBIT	167	-0.7%	-30.7%	+21.9%	49% of hours
Crypto.com	166	+10.6%	-44.6%	+94.6%	76% of hours
Kalshi	18	+16.9%	0.0%	+25.9%	85% of hours

XAG liquidation map

Current price $51.72. Hover or use the arrow keys to read a level.

XAG: the levels with the most liquidations within ±10%, among the positions read
Price range	Longs	Shorts
$47.71 to $47.84	$1.8M	$0
$50.17 to $50.29	$678.5K	$0
$48.10 to $48.23	$622.5K	$0
$47.58 to $47.71	$446.5K	$0
$46.93 to $47.06	$309.9K	$0
$49.52 to $49.65	$232.2K	$0
$46.54 to $46.67	$231.8K	$0
$47.19 to $47.32	$173.5K	$0
$55.34 to $55.47	$0	$132.2K
$47.32 to $47.45	$79.0K	$0
$49.39 to $49.52	$75.0K	$0
$47.06 to $47.19	$61.3K	$0

425 accounts on trade.xyz · $82.9M long · $99.1M short · Nov 12, 02:00 UTC

XAG liquidation heatmap ›

XAG liquidation history

XAG long and short liquidations by venue.

XAG volume and order flow

$1.4B of XAG traded in the last 24 hours across 31 venues.

XAG order book and taker flow

trade.xyz

Window	Taker buys	Taker sells	Net	Buy share
1 hour	$11.1M	$9.9M	+$1.2M	53%
4 hours	$19.1M	$19.9M	−$836.5K	49%
12 hours	$77.7M	$74.8M	+$2.9M	51%
24 hours	$174.2M	$174.4M	−$276.0K	50%
3 days	$720.5M	$719.4M	+$1.1M	50%
7 days	$1.1B	$1.1B	−$13.7M	50%

XAG large trades, 7 days

Trades over $100K · liquidations over $10K

Time	Venue	Trade	Size	Price
Nov 11, 23:10 UTC	OKX	Long liquidated	$13.9K	$51.63
Nov 11, 22:28 UTC	Gate	Long liquidated	$100.0K	$51.79
Nov 11, 22:28 UTC	Gate	Long liquidated	$378.4K	$51.79
Nov 11, 21:56 UTC	trade.xyz	Taker sell	$119.5K	$51.67
Nov 11, 19:45 UTC	trade.xyz	Taker sell	$155.6K	$51.86
Nov 11, 18:11 UTC	trade.xyz	Taker buy	$195.1K	$52.03
Nov 11, 18:11 UTC	trade.xyz	Taker buy	$390.2K	$52.03
Nov 11, 17:52 UTC	Gate	Long liquidated	$25.1K	$52.09
Nov 11, 16:06 UTC	Deribit	Taker buy	$148.9K	$52.36
Nov 11, 15:56 UTC	trade.xyz	Taker sell	$100.3K	$52.27

XAG news

Loading the latest XAG headlines.

Silver coverage

Perps stories

Hyperliquid's biggest accounts are 64% short on gold, silver and other metalsBig trades · November 3, 2026
The Fed minutes knocked metals lower and silver perps had their busiest dayMarkets · October 7, 2026
Trade.xyz's volume rose 240% as its markets came off weekend pricingVolume · October 5, 2026
Silver perps fell 4%, more than three times the move that liquidates a 75x longMarkets · September 23, 2026

XAG listing and leverage changes

When	Venue	Change
Nov 12, 2026	Hibachi XAG/USDT-P	Listed again
Oct 30, 2026 to Nov 12, 2026	GMX arb:SILVER/USD [WETH-USDC]	Max leverage moves between 25x and 100x (18 changes), now 100x
Nov 11, 2026	Hibachi XAG/USDT-P	Delisted
Nov 11, 2026	Hibachi XAG/USDT-P	Listed again
Nov 10, 2026	Hibachi XAG/USDT-P	Delisted
Nov 10, 2026	Hibachi XAG/USDT-P	Listed again
Nov 9, 2026	Hibachi XAG/USDT-P	Delisted
Nov 9, 2026	Veranta XAG/USD	Max leverage changed from 20.0x to 75.0x
Nov 9, 2026	gTrade XAG/USD	Max leverage changed from 4.0x to 250.0x
Nov 9, 2026	Hibachi XAG/USDT-P	Listed again
Nov 8, 2026	Hibachi XAG/USDT-P	Delisted
Nov 6, 2026	Hibachi XAG/USDT-P	Listed again
Nov 6, 2026	Hibachi XAG/USDT-P	Delisted
Nov 6, 2026	gTrade XAG/USD	Max leverage changed from 250.0x to 4.0x
Nov 6, 2026	Veranta XAG/USD	Max leverage changed from 75.0x to 20.0x
Nov 6, 2026	Kalshi KXSILVERPERP	Max leverage changed from 8.2999x to 8.3x
Nov 6, 2026	OKX XAG-USDT-SWAP	Max leverage changed from 50.0x to 100.0x
Nov 6, 2026	Hibachi XAG/USDT-P	Listed again
Nov 5, 2026	Hibachi XAG/USDT-P	Delisted
Nov 5, 2026	Hibachi XAG/USDT-P	Listed again
Nov 4, 2026	Hibachi XAG/USDT-P	Delisted
Nov 4, 2026	Hibachi XAG/USDT-P	Listed again
Nov 3, 2026	Hibachi XAG/USDT-P	Delisted
Nov 3, 2026	Hibachi XAG/USDT-P	Listed again
Nov 2, 2026	Hibachi XAG/USDT-P	Delisted
Nov 2, 2026	Veranta XAG/USD	Max leverage changed from 20.0x to 75.0x
Nov 2, 2026	gTrade XAG/USD	Max leverage changed from 4.0x to 250.0x
Nov 2, 2026	Hibachi XAG/USDT-P	Listed again
Nov 1, 2026	Hibachi XAG/USDT-P	Delisted
Oct 30, 2026	Hibachi XAG/USDT-P	Listed again
Oct 30, 2026	Hibachi XAG/USDT-P	Delisted
Oct 30, 2026	gTrade XAG/USD	Max leverage changed from 250.0x to 4.0x
Oct 30, 2026	Veranta XAG/USD	Max leverage changed from 75.0x to 20.0x

XAG at a glance

XAG at your leverage

XAG perpetual market

XAG funding rate

XAG funding settlements, 7 days

Veranta

trade.xyz

Lighter

Aster

GMX

Paradex

Extended

QFEX

Orderly

Nado

Kraken Futures

Variational

Pacifica

edgeX

GRVT

gTrade

Ostium

Hibachi

OKX

Bitget

Gate

MEXC

HTX

KuCoin

Deribit

Bitfinex

Phemex

WhiteBIT

Crypto.com

Kalshi

XAG open interest

XAG liquidation map

XAG liquidation history

XAG volume and order flow

XAG order book and taker flow

XAG large trades, 7 days

XAG news

Silver coverage

Perps stories

XAG listing and leverage changes

More on XAG