XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0457%/8h= −50.0% APRnext payment −$0.57 per $10,000 · paid last 24h −0.075%

Price spread now: Lighter RH against Kraken Futures+0.002%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Kraken Futures Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.134%−$13 on $10k

Price spread, last 3 days (all we have)+0.023%+$2 · spread now +0.002%, 7d avg +0.041%

Together, before fees−0.111%+ Points / potential airdropLighter RH: Points live · farm board−$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Lighter RH is 0.039% 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 +0.041%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.134% in total (about -7.0% 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	Kraken Futures PF_XAGUSD	66.494	0.0489	pay 0.0061% / 1h	24m 49s	$764K	$565K	25x
Short	Lighter RH XAG	66.496	0.0032	get 0.0004% / 1h	24m 49s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.002%Rate

Funding earned: −$95.9
Price spread: +0.002% → +0.041%: −$3.94
Slippage, 4 orders: −$11.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$121.45
Costs to cover: 0.216%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 48 min ago; Lighter RH: live order book, 4 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, 48 min ago	2.62 bp	10.1 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.29 bp	0.4 bp $0	1.5 bp −$15	16.2 bp −$1,620	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
dYdX XAG-USD	0.0000%	1h	66.490	−0.007%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.530	+0.054%	$25.7M	$35.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.530	+0.054%	$155.0M	$168.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.520	+0.039%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.560	+0.099%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.550	+0.084%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.466	−0.042%	$120K	—	250x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.496	+0.002%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.457	−0.056%	$5.4M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.142%	$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
StandX XAG-USD	+0.0040%	1h	66.550	+0.084%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.957	+0.696%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.473	−0.032%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.490	−0.006%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.466	−0.042%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.410	−0.127%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.500	+0.009%	$115K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	66.483	−0.017%	$165.4M	$84.7M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.462	−0.048%	$562K	$21.5M	8.1x	as long as short
BloFin XAG-USDT	+0.0081%	4h	66.550	+0.084%	$2.6M	$706K	100x	as long as short
Aster XAGUSDT	+0.0086%	4h	66.520	+0.039%	$2.8M	$1.1M	100x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	66.486	−0.012%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0089%	4h	66.514	+0.030%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0098%	8h	66.500	+0.009%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.457	−0.056%	$474K	$623K	10x	as long as short
MEXC SILVER_USDT	+0.0100%	4h	66.510	+0.024%	$108.7M	$160.3M	1000x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.480	−0.021%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.480	−0.021%	$126K	$24K	50x	as long as short
Binance XAGUSDT	+0.0102%	4h	66.517	+0.035%	$192.4M	$722.3M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.512	+0.027%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0111%	4h	66.544	+0.074%	$675K	$313K	30x	as long as short
Lighter XAG	+0.0120%	1h	66.504	+0.014%	$5.4M	$10.5M	25x	as long as short
GRVT XAG_USDT_Perp	+0.0130%	4h	66.535	+0.061%	$391K	$1.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.515	+0.031%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0168%	1h	66.461	−0.050%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0174%	4h	66.520	+0.039%	$24.5M	$48.0M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.129%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	66.530	+0.054%	$27.9M	$67.2M	50x	as long as short
Aftermath Perps XAGUSD	+0.0197%	1h	66.501	+0.010%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0226%	1h	66.535	+0.061%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	66.480	−0.021%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.535	+0.061%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	+0.039%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0489%	1h	66.494	long leg	$764K	$565K	25x