Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0511%/8h= −55.9% APRpaid last 24h −0.054%

Price spread now: BloFin against Kraken Futures+0.074%57s7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$66as 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−$310.309% of the position

Long on Kraken Futures Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.355%−$36 on $10k

Price spread, last 3 days (all we have)+0.035%+$3 · spread now +0.074%, 7d avg +0.088%

Together, before fees−0.320%−$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.088%, so right now this pair is about funding alone: −$15 a day on $10k at the current rate. The two prices were read 57 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 -0.355% in total (about -18.5% 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	66.581	0.0595	pay 0.0074% / 1h	15m 34s	$764K	$588K	25x
Short	BloFin XAG-USDT	66.630	0.0084	get 0.0042% / 4h	15m 34s	$2.6M	$652K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.074%Rate

Funding earned: −$107.26
Price spread: +0.074% → +0.088%: −$1.42
Slippage, 4 orders: −$8.93
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$139.61
Costs to cover: 0.309%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 63 min ago; BloFin: live order book, 3 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, 63 min ago	2.83 bp	9.2 bp −$9	13.4 bp −$134	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	0.75 bp	6.8 bp −$7	6.8 bp −$68	8.8 bp −$880	15.1 bp −$7,535

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	66.560	−0.031%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.640	+0.089%	$26.5M	$34.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.620	+0.059%	$156.0M	$174.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.610	+0.044%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.640	+0.089%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.600	+0.029%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.552	−0.044%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.598	+0.026%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.551	−0.045%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.271%	$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	66.531	−0.074%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.580	−0.001%	$797K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.063	+0.725%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.583	+0.004%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.542	−0.058%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.520	−0.091%	$5.7M	$10.0M	25x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.579	−0.002%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.577	−0.005%	$581K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.600	+0.029%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0071%	1h	66.580	−0.001%	$166.0M	$87.0M	25x	as long as short
BloFin XAG-USDTshort	+0.0084%	4h	66.630	+0.074%	$2.6M	$652K	100x
Pacifica XAG	+0.0100%	1h	66.556	−0.037%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.580	−0.001%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.600	+0.029%	$127K	$26K	50x	as long as short
Variational Omni XAG	+0.0103%	4h	66.615	+0.052%	$5.6M	$10.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0105%	8h	66.597	+0.025%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0115%	4h	66.617	+0.054%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.599	+0.028%	$5.2M	$10.4M	25x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.610	+0.044%	$115.2M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0123%	4h	66.610	+0.044%	$191.8M	$725.0M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.609	+0.043%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0134%	4h	66.629	+0.073%	$676K	$316K	30x	as long as short
Bitget XAGUSDT	+0.0154%	4h	66.620	+0.059%	$24.4M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.640	+0.089%	$1.9M	$852K	20x	as long as short
Aftermath Perps XAGUSD	+0.0169%	1h	66.546	−0.052%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.634	+0.081%	$401K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.610	+0.044%	$28.0M	$66.8M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.623	+0.063%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0251%	1h	66.622	+0.062%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0253%	1h	66.574	−0.010%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.582	+0.002%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.615	+0.052%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.590	+0.014%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0595%	1h	66.581	long leg	$764K	$588K	25x