Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0624%/8h= −68.3% APRpaid last 24h −0.088%

Price spread now: HTX against Kraken Futures+0.077%7-day average +0.124% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$410.414% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 4 days (all we have)+0.053%+$5 · spread now +0.077%, 7d avg +0.124%

Together, before fees−0.154%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and HTX is 0.047% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.124%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.207% in total (about -10.8% 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	Kraken Futures PF_XAGUSD	66.029	0.0624	pay 0.0078% / 1h	13m 53s	$911K	$683K	25x
Short	HTX XAG-USDT	66.080	0	get 0.0000% / 4h	3h 13m	$1.0M	$949K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.077%Rate

Funding earned: −$130.96
Price spread: +0.077% → +0.124%: −$4.74
Slippage, 4 orders: −$19.41
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$177.11
Costs to cover: 0.414%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 39 min ago; HTX: 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, 39 min ago	2.87 bp	10.5 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit
Sell HTX live order book, 5 min ago	4.54 bp	11.6 bp −$12	12.0 bp −$120	14.4 bp −$1,436	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	−0.0057%	1h	65.960	−0.105%	$5.7M	$9.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.062%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.070	+0.062%	$2K	$2.6M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.080	+0.077%	$1.0M	$949K	75x
Phemex XAGUSDT	0.0000%	4h	66.060	+0.047%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.993	−0.054%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.024	−0.008%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.049	+0.030%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.996	−0.050%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.562%	$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
Gate XAG_USDT	+0.0034%	4h	66.080	+0.077%	$149.9M	$164.2M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	66.060	+0.047%	$795K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.478	+0.680%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.024	−0.008%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.994	−0.053%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0054%	1h	66.030	+0.001%	$166.3M	$74.0M	25x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	66.041	+0.018%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.050	+0.032%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	66.008	−0.032%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	66.020	−0.014%	$557K	$26.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.065	+0.054%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.003	−0.040%	$470K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.030	+0.001%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.010	−0.029%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	66.051	+0.034%	$5.2M	$10.9M	25x	as long as short
Bybit XAGUSDT	+0.0113%	4h	66.080	+0.077%	$27.8M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0121%	4h	66.066	+0.055%	$2.7M	$866K	100x	as long as short
Variational Omni XAG	+0.0165%	4h	66.053	+0.037%	$5.6M	$9.5M	—	as long as short
BloFin XAG-USDT	+0.0165%	4h	66.060	+0.047%	$2.6M	$563K	100x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.053	+0.035%	$47K	—	10x	as long as short
Nado XAG-PERP	+0.0176%	1h	66.012	−0.026%	$1.4M	$5.8M	10x	as long as short
MEXC SILVER_USDT	+0.0176%	4h	66.050	+0.032%	$115.0M	$152.7M	1000x	as long as short
Binance XAGUSDT	+0.0177%	4h	66.069	+0.061%	$191.6M	$702.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0178%	4h	66.079	+0.076%	$395K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0186%	4h	66.058	+0.044%	$670K	$312K	30x	as long as short
Aftermath Perps XAGUSD	+0.0191%	1h	66.046	+0.026%	$80K	$36K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	66.030	+0.001%	$1.8M	$1.0M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0225%	8h	66.070	+0.062%	$27.7M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.070	+0.062%	$24.0M	$45.2M	100x	as long as short
Bullet SILVER-USD	+0.0231%	1h	66.064	+0.053%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.020	−0.014%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.040	+0.016%	$75K	$363K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0440%	1h	66.065	+0.054%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0624%	1h	66.029	long leg	$911K	$683K	25x