XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0268%/8h= −29.3% APRnext payment −$0.33 per $10,000 · paid last 24h −0.005%

Price spread now: Deribit against Kraken Futures+0.029%7-day average +0.065% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.322% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.135%+$14 on $10k

Price spread, last 4 days (all we have)+0.081%+$8 · spread now +0.029%, 7d avg +0.065%

Together, before fees+0.217%+$22 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Deribit is 0.036% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.065%). Swap the legs. Mind the row above: over the last 4 days funding on this pair paid +0.135%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAGUSD	65.981	0.0624	pay 0.0078% / 1h	45m 43s	$911K	$683K	25x
Short	Deribit SILVER_USDC-PERPETUAL	66.000	0.0356	get 0.0045% / 1h	45m 43s	$75K	$363K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$56.2
Price spread: +0.029% → +0.065%: −$3.65
Slippage, 4 orders: −$15.24
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$92.09
Costs to cover: 0.322%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 8 min ago; Deribit: live order book, 8 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, 8 min ago	2.87 bp	10.5 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit
Sell Deribit live order book, 8 min ago	0.76 bp	8.8 bp −$9	10.4 bp −$104	doesn't fit	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
Ondo Perps XAG-USD.P	−0.0042%	1h	65.890	−0.138%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.072%	$14K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.010	+0.044%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.040	+0.089%	$1.0M	$967K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.030	+0.074%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.950	−0.047%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.985	+0.007%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.927	−0.081%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.635%	$11K	$94K	52x	as long as short
Hotstuff SILVER-PERP	+0.0040%	1h	65.974	−0.011%	$35K	$21K	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.020	+0.059%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.435	+0.688%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.969	−0.018%	$166.0M	$73.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.977	−0.006%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.944	−0.056%	$3K	$6K	20x	as long as short
Gate XAG_USDT	+0.0058%	4h	66.020	+0.059%	$149.6M	$163.3M	100x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.000	+0.029%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0072%	24h	65.969	−0.018%	$535K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.942	−0.059%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.986	+0.007%	$1.3M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0100%	4h	66.000	+0.029%	$27.3M	$36.4M	150x	as long as short
Pacifica XAG	+0.0100%	1h	65.942	−0.059%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.970	−0.017%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.940	−0.062%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0120%	1h	65.987	+0.008%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0124%	8h	65.973	−0.012%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0141%	4h	66.010	+0.044%	$2.7M	$862K	100x	as long as short
Nado XAG-PERP	+0.0166%	1h	65.966	−0.023%	$1.4M	$6.1M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.002	+0.032%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0195%	4h	66.003	+0.034%	$5.6M	$9.4M	—	as long as short
BloFin XAG-USDT	+0.0197%	4h	66.010	+0.044%	$2.6M	$556K	100x	as long as short
Binance XAGUSDT	+0.0206%	4h	65.998	+0.026%	$191.0M	$702.6M	100x	as long as short
MEXC SILVER_USDT	+0.0206%	4h	65.980	−0.002%	$113.2M	$151.7M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.047%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0212%	4h	66.009	+0.043%	$394K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0216%	1h	65.981	0.000%	$79K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0222%	4h	65.987	+0.009%	$669K	$312K	30x	as long as short
Bullet SILVER-USD	+0.0232%	1h	66.016	+0.053%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	65.990	+0.013%	$27.6M	$64.7M	50x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.980	−0.002%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.979	−0.004%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0356%	1h	66.000	+0.029%	$75K	$363K	20x
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.015	+0.051%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0624%	1h	65.981	long leg	$911K	$683K	25x