xyz:SILVERcommodity · growth mode on · 25× max
Over 106 days of 20-level order-book snapshots, xyz:SILVER quoted a median spread of 0.17 bps in US regular hours with $1.4M resting within 25 bps of mid. A $25k market order paid about 0.74 bps in regular hours and 0.99 bps on weekends, when depth within 25 bps fell to $281k. Taker fee is 0.90 bps with growth mode on; funding averaged +8.63% annualised over the last 30 days.
by sessionNew York time · medians over 106 days
| session | snaps | spread | p90 | top | depth ±10 | depth ±25 | depth ±50 | $5k | $25k | $100k | $100k fills | $250k fills |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| US regular 9:30–16:00 | 4,819 | 0.17 | 0.88 | $1.4M | 0.74 | 1.29 | 100% | 92% | ||||
| US extended 4–9:30, 16–20 | 7,064 | 0.17 | 0.68 | $1.2M | 0.73 | 1.27 | 95% | 76% | ||||
| Overnight 20–4 | 4,853 | 0.17 | 0.80 | $1.3M | 0.75 | 1.27 | 100% | 91% | ||||
| Weekend / holiday | 9,136 | 0.16 | 0.31 | $281k | 0.99 | 1.79 | 61% | 19% |
bps unless stated · RTH 9:30–16:00 · extended 4:00–9:30 and 16:00–20:00 · overnight 20:00–4:00 on weekdays · weekend runs Friday 20:00 to Monday 4:00 and includes NYSE holidays · slip = mean of the buy and sell side of a market order walking the visible 20 levels · fills = share of snapshots the size fits inside those levels · "—" = not fillable in the median snapshot
slippage curve
hour of week
weekly · spread
weekly · depth ±25 bps
per round trip = 2 × median slippage + 2 × taker fee · funding uses the 30-day mean hourly rate, annualised, charged for a position held all day · slippage between tested sizes is interpolated on a log scale · ignores maker rebates, impact that persists after your fill, and fee tiers
25,872 snapshots · 2026-06-16 18:29 → 2026-09-30 18:24 UTC (106.0 days) · size decimals 2 · raw: /data/xyz/SILVER.json · method and caveats: methodology