XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0453%/8h= −49.7% APRnext payment −$0.57 per $10,000 · paid last 24h −0.072%

Price spread now: Polymarket Perps against Deribit−0.051%7-day average −0.052% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Deribit Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.088%−$9 on $10k

Price spread, last 3 days (all we have)−0.020%−$2 · spread now −0.051%, 7d avg −0.052%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.052%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.088% in total (about -8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.57 per $10,000. 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	Deribit SILVER_USDC-PERPETUAL	66.410	0.0503	pay 0.0063% / 1h	57m 16s	$50K	$326K	20x
Short	Polymarket Perps SILVER-USD	66.376	0.0050	get 0.0006% / 1h	57m 16s	$3.9M	$672K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Deribit. 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 DeribitbpFee Polymarket PerpsbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$95.23
Price spread: −0.051% → −0.052%: $0.09
Slippage, 4 orders: −$7.87
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$118.01
Costs to cover: 0.229%
Break-even: never at this rate

Slippage from Deribit: live order book, 6 min ago; Polymarket Perps: live order book, 2 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 Deribit live order book, 6 min ago	0.75 bp	7.2 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.21 bp	5.8 bp −$6	5.8 bp −$58	7.4 bp −$737	doesn't fit

XAG on 43 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	66.359	−0.077%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.430	+0.030%	$152.2M	$161.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.410	0.000%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.430	+0.030%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.420	+0.015%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.351	−0.089%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.404	−0.010%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.349	−0.092%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.015%	$11K	$94K	52x	as long as short
Ondo Perps XAG-USD.P	+0.0039%	1h	66.310	−0.151%	$5.7M	$9.7M	25x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.440	+0.045%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.845	+0.655%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.307	−0.155%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	66.376	−0.051%	$3.9M	$672K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.345	−0.098%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.390	−0.030%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.380	−0.045%	$540K	$24.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.361	−0.074%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.370	−0.060%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.290	−0.181%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0118%	1h	66.385	−0.038%	$166.1M	$75.7M	25x	as long as short
Aster XAGUSDT	+0.0141%	4h	66.420	+0.015%	$2.8M	$941K	100x	as long as short
Paradex XAG-USD-PERP	+0.0142%	8h	66.411	+0.002%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0148%	4h	66.430	+0.030%	$26.7M	$36.2M	150x	as long as short
Lighter XAG	+0.0152%	1h	66.406	−0.005%	$5.3M	$10.4M	25x	as long as short
Variational Omni XAG	+0.0176%	4h	66.333	−0.115%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.406	−0.006%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.426	+0.025%	$1.3M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.420	+0.015%	$111.7M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.320	−0.136%	$1.9M	$971K	20x	as long as short
Binance XAGUSDT	+0.0192%	4h	66.420	+0.015%	$192.4M	$707.2M	100x	as long as short
edgeX XAGUSDC	+0.0197%	4h	66.335	−0.113%	$673K	$315K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	66.410	0.000%	$27.9M	$65.8M	50x	as long as short
Hotstuff SILVER-PERP	+0.0224%	1h	66.317	−0.140%	$35K	$21K	20x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.338	−0.109%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.329	−0.122%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0255%	1h	66.365	−0.067%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.410	0.000%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.367	−0.065%	$398K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0315%	1h	66.434	+0.037%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0328% / S −0.0337%	1h	66.425	+0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0503%	1h	66.410	long leg	$50K	$326K	20x
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.380	−0.046%	$765K	$478K	25x	as long as short