Silver 

SILVER Price

What is the Silver (SILVER) perpetual futures instrument?

No issuer, website, or on-chain contract exists for SILVER; exposure is a leveraged, cash-settled perp position on a trading venue. The on-chain angle is Hyperliquid's HIP-3 xyz:SILVER market, part of a builder-deployed commodity lineup (silver, gold, crude oil, copper). Binance Futures launched the XAGUSDT silver perp on January 7, 2026.

How do you trade silver on Hyperliquid?

Silver trades on Hyperliquid through the xyz:SILVER-USD market — a HIP-3 builder-deployed perpetual, margined in USDC, non-custodial, and open 24/7. Traders open long or short positions against USDC collateral on the Hyperliquid app; no wallet-held token is involved. HIP-3 markets went live in October 2025. In late January 2026, the silver-USDC market printed roughly $1.2 billion in 24-hour volume — second only to Bitcoin on the platform that day, per DL News.

What is XAGUSDT on Binance Futures?

XAGUSDT is Binance Futures' USDT-settled perpetual contract for silver, launched January 7, 2026 at 10:00 UTC on the USDⓈ-M market. Each contract represents 1 troy ounce of silver priced in USD. Binance set the tick size at 0.01, the minimum order at 0.001 XAG, and the minimum notional at 5 USDT. Funding settles every 4 hours with the rate capped at ±2.00%. Leverage reaches 50x, and trading runs 24/7 with Multi-Assets Mode.

Is silver trading on crypto exchanges spot or derivatives only?

Every SILVER market is a perpetual future — per DropsTab data, the instrument carries zero spot pairs and zero on-chain DEX liquidity pools. Centralized venues (Binance Futures, MEXC, BTSE) run USDT-, USDC- and USD1-margined variants. Hyperliquid is the decentralized venue. Liquidity is venue-concentrated and event-driven — the Hyperliquid market's depth surged with a temporary debasement-trade narrative and can thin out. The BTSE SILVER-PERP pair is unverified in the markets feed.

How does the funding rate on silver perpetual futures work?

Funding rates are periodic payments between long and short holders that keep the perp price tethered to spot XAG. Binance settles funding every 4 hours and caps the rate at ±2.00%; MEXC and Hyperliquid apply standard perp funding intervals. Sustained positive funding means longs pay shorts — long silver positions bleed carry costs, which acts as the practical "inflation-type" drag on holding a perp, unlike owning spot metal.

What are the risks of trading silver perpetual futures?

Liquidation risk is the primary hazard. MEXC markets its SILVER_USDT pair at up to 1000x leverage, the SILVER_USDC variant at 200x, and Binance at 50x — leverage tiers that expose positions to forced liquidation absent in physical silver ownership. Funding costs erode long positions during positive-rate periods. All venues settle in stablecoins, adding depeg and collateral considerations. No market delivers metal, and liquidity is event-driven rather than persistent.

Is tokenized silver like SILVER backed by physical silver?

No. The SILVER perp delivers price exposure only — positions are cash-settled against the silver index, with no delivery and no redemption of metal. Vault-backed products such as Kinesis KAG are separate spot instruments that do carry physical redemption. Those tokenized-silver wrappers and the SILVER perpetual are different instrument classes with different custody, and SILVER holders hold no claim on silver bars.

Does SILVER have a token supply, vesting schedule, or ICO?

None of these exist. Silver (SILVER) records no maximum, total, or circulating supply because no token exists — there is no TGE, allocation, cliff, or unlock schedule, and no fundraising round or investor: perpetuals have no wrapper issuer to raise capital. The only schedule-like mechanics are funding-rate intervals, which transfer value between traders rather than emitting new supply.

Is SILVER a stablecoin?

No. SILVER tracks the silver price index (XAG), which fluctuates freely against the US dollar — the instrument has no peg mechanism and no reserve of dollars. Stablecoins appear only as settlement collateral: SILVER markets are margined and settled in USDT, USDC, or USD1. A depeg of those settlement coins is a separate counterparty consideration, not a feature of the silver instrument itself.