Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0340%/8h= +37.2% APRpaid last 24h −0.028%

Price spread now: Bitget against Kraken Futures+0.084%58s7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$320.318% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.077%−$8 on $10k

Price spread, last 3 days (all we have)−0.019%−$2 · spread now +0.084%, 7d avg +0.075%

Together, before fees−0.096%−$10 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.075%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.077%, so the current rate has only just turned in your favour. The two prices were read 58 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 -0.077% in total (about -4.0% 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	Kraken Futures PF_XAGUSD	66.215	−0.0272	get 0.0034% / 1h	14m 22s	$766K	$569K	25x
Short	Bitget XAGUSDT	66.270	0.0068	get 0.0034% / 4h	1h 14m	$24.0M	$47.8M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Kraken Futures. 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 Kraken FuturesbpFee BitgetbpOrdersPrice spread, now +0.084%Rate

Funding earned: $71.34
Price spread: +0.084% → +0.075%: $0.89
Slippage, 4 orders: −$9.81
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: $40.42
Costs to cover: 0.318%
Break-even: 3.0 days

Slippage from Kraken Futures: live order book, 4 min ago; Bitget: live order book, 5 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 Kraken Futures live order book, 4 min ago	2.83 bp	9.2 bp −$9	13.4 bp −$134	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	0.75 bp	6.8 bp −$7	8.8 bp −$88	16.2 bp −$1,616	53.3 bp −$26.7K

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
Kraken Futures PF_XAGUSDlong	−0.0272%	1h	66.215	long leg	$766K	$569K	25x
dYdX XAG-USD	0.0000%	1h	66.175	−0.060%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.270	+0.084%	$25.6M	$33.4M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.252	+0.056%	$1.3M	$4.2M	20x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.209	−0.009%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.260	+0.068%	$146.3M	$173.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.053%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.270	+0.084%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.250	+0.053%	$1.5M	$249K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.189	−0.038%	$120K	—	250x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SILVER-USD	+0.0016%	1h	66.230	+0.023%	$144K	$2.8M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.231	+0.024%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.176	−0.058%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.280%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.190	−0.037%	$792K	$2.7M	40x	as long as short
BloFin XAG-USDT	+0.0040%	4h	66.240	+0.038%	$2.5M	$846K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.687	+0.713%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.225	+0.016%	$3.9M	$698K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.187	−0.042%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.160	−0.083%	$5.7M	$9.9M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0051%	1h	66.220	+0.008%	$165.0M	$88.4M	25x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.197	−0.027%	$583K	$21.3M	8.1x	as long as short
Aster XAGUSDT	+0.0066%	4h	66.269	+0.082%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0067%	4h	66.237	+0.033%	$5.5M	$10.5M	—	as long as short
Bitget XAGUSDTshort	+0.0068%	4h	66.270	+0.084%	$24.0M	$47.8M	100x
Phoenix SILVER	+0.0073%	1h	66.194	−0.031%	$56K	$26K	25x	as long as short
MEXC SILVER_USDT	+0.0084%	4h	66.250	+0.053%	$121.6M	$182.2M	1000x	as long as short
Binance XAGUSDT	+0.0085%	4h	66.260	+0.068%	$189.7M	$728.3M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.254	+0.060%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0094%	4h	66.237	+0.033%	$672K	$316K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.188	−0.040%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.210	−0.007%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.180	−0.052%	$113K	$26K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.220	+0.008%	$1.9M	$861K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0114%	4h	66.240	+0.038%	$390K	$1.5M	25x	as long as short
Paradex XAG-USD-PERP	+0.0116%	8h	66.230	+0.024%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0127%	1h	66.207	−0.012%	$80K	$40K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.231	+0.025%	$5.2M	$11.0M	25x	as long as short
Hibachi XAG/USDT-P	+0.0160%	1h	66.196	−0.028%	$20K	$22K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0174%	8h	66.270	+0.084%	$27.3M	$66.3M	50x	as long as short
Nado XAG-PERP	+0.0222%	1h	66.198	−0.024%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0266%	1h	66.265	+0.077%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0303% / S −0.0300%	1h	66.265	+0.076%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.240	+0.038%	$51K	$359K	20x	as long as short