Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0484%/8h= +53.0% APRpaid last 24h +0.069%

Price spread now: Kraken Futures against Aster−0.105%54s7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$270.269% of the position

Long on Aster Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.149%+$15 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now −0.105%, 7d avg −0.074%

Together, before fees+0.192%+ Points / potential airdropAster: Stage 5 · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.030% cheaper against Aster than usual: you would sell low and buy high (spread −0.105% now, against its 7-day average of −0.074%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.149% in total) that is about 34 hours. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.149% in total (about 7.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster XAGUSDT	66.522	0.0112	pay 0.0056% / 4h	22m 19s	$2.8M	$1.1M	100x
Short	Kraken Futures PF_XAGUSD	66.452	0.0596	get 0.0074% / 1h	22m 19s	$762K	$586K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Aster. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee AsterbpFee Kraken FuturesbpOrdersPrice spread, now −0.105%Rate

Funding earned: $101.59
Price spread: −0.105% → −0.074%: −$3.05
Slippage, 4 orders: −$8.94
Fee Aster: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $71.61
Costs to cover: 0.269%
Break-even: 2.1 days

Slippage from Aster: live order book, 1 min ago; Kraken Futures: live order book, 56 min ago.

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 Aster live order book, 1 min ago	0.75 bp	4.8 bp −$5	6.5 bp −$65	16.5 bp −$1,647	doesn't fit
Sell Kraken Futures live order book, 56 min ago	2.83 bp	8.2 bp −$8	16.6 bp −$166	69.8 bp −$6,985	doesn't fit

XAG on 44 venues

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
dYdX XAG-USD	0.0000%	1h	66.430	−0.138%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.560	+0.057%	$26.2M	$34.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.530	+0.012%	$154.5M	$173.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.490	−0.048%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.510	−0.018%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.510	−0.018%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.481	−0.061%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.476	−0.069%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.446	−0.115%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.183%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SILVER	+0.0036%	1h	66.409	−0.170%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.430	−0.138%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.955	+0.651%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.495	−0.041%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.419	−0.155%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.400	−0.183%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.442	−0.120%	$594K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.510	−0.018%	$124K	$2.8M	20x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.450	−0.108%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0073%	1h	66.498	−0.036%	$165.7M	$86.8M	25x	as long as short
Variational Omni XAG	+0.0100%	4h	66.457	−0.097%	$5.6M	$10.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	66.454	−0.102%	$480K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.480	−0.063%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.420	−0.153%	$126K	$26K	50x	as long as short
Paradex XAG-USD-PERP	+0.0109%	8h	66.505	−0.026%	$30K	$1K	5x	as long as short
Aster XAGUSDTlong	+0.0112%	4h	66.522	long leg	$2.8M	$1.1M	100x
Lighter XAG	+0.0120%	1h	66.500	−0.033%	$5.2M	$10.4M	25x	as long as short
MEXC SILVER_USDT	+0.0120%	4h	66.510	−0.018%	$115.0M	$153.2M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.522	−0.001%	$48K	—	10x	as long as short
Binance XAGUSDT	+0.0122%	4h	66.550	+0.042%	$192.7M	$723.7M	100x	as long as short
edgeX XAGUSDC	+0.0128%	4h	66.480	−0.064%	$674K	$314K	30x	as long as short
Bitget XAGUSDT	+0.0146%	4h	66.550	+0.042%	$24.3M	$48.1M	100x	as long as short
BloFin XAG-USDT	+0.0146%	4h	66.500	−0.033%	$2.6M	$651K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.410	−0.168%	$1.9M	$853K	20x	as long as short
Aftermath Perps XAGUSD	+0.0166%	1h	66.412	−0.166%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0174%	4h	66.458	−0.097%	$396K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0195%	8h	66.540	+0.027%	$27.9M	$66.6M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.521	−0.002%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0257%	1h	66.548	+0.038%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0259%	1h	66.452	−0.105%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.545	+0.035%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.426	−0.144%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.540	+0.027%	$50K	$369K	20x	as long as short
Kraken Futures PF_XAGUSDshort	+0.0596%	1h	66.452	−0.105%	$762K	$586K	25x