XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0447%/8h= −48.9% APRnext payment −$0.56 per $10,000 · paid last 24h −0.080%

Price spread now: Pacifica against Kraken Futures−0.082%7-day average +0.010% · you buy dearer than you sell

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.154%−$15 on $10k

Price spread, last 4 days (all we have)+0.018%+$2 · spread now −0.082%, 7d avg +0.010%

Together, before fees−0.136%+ Points / potential airdropPacifica: Active · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Pacifica is 0.092% cheaper against Kraken Futures than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.010%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.154% in total (about -8.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.56 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAGUSD	65.712	0.0547	pay 0.0068% / 1h	51m 52s	$1.0M	$943K	25x
Short	Pacifica XAG	65.658	0.0100	get 0.0013% / 1h	51m 52s	$467K	$570K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now −0.082%Rate

Funding earned: −$93.82
Price spread: −0.082% → +0.010%: −$9.2
Slippage, 4 orders: −$11.31
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$132.33
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Pacifica: live order book, 60 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, 5 min ago	2.76 bp	8.8 bp −$9	15.5 bp −$155	117.2 bp −$11.7K	doesn't fit
Sell Pacifica live order book, 60 min ago	1.30 bp	6.0 bp −$6	doesn't fit	doesn't fit	doesn't fit

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−1.5176%	1h	65.532	−0.274%	$36K	$23K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.651	−0.093%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.680	−0.049%	$138.5M	$203.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.750	+0.058%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.790	+0.119%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.750	+0.058%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.658	−0.083%	$119K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0008%	1h	65.610	−0.155%	$5.7M	$11.0M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.741	+0.044%	$4.5M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.636	−0.116%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.689%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.680	−0.049%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.160	+0.682%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.692	−0.030%	$3.8M	$894K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.634	−0.119%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.680	−0.049%	$447K	$1.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0054%	1h	65.660	−0.079%	$174.6M	$93.9M	25x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.704	−0.012%	$29K	$166	5x	as long as short
Variational Omni XAG	+0.0096%	4h	65.678	−0.051%	$5.7M	$9.1M	—	as long as short
Kalshi KXSILVERPERP	+0.0099%	24h	65.716	+0.006%	$711K	$38.6M	8.1x	as long as short
Pacifica XAGshort	+0.0100%	1h	65.658	−0.082%	$467K	$570K	10x
KuCoin XAGUSDTM	+0.0100%	4h	65.660	−0.079%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.650	−0.094%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.690	−0.034%	$1.6M	$1.9M	20x	as long as short
Aevo XAG-PERP	+0.0112%	1h	65.722	+0.016%	$47K	—	10x	as long as short
Aster XAGUSDT	+0.0113%	4h	65.674	−0.058%	$2.7M	$1.1M	100x	as long as short
Binance XAGUSDT	+0.0115%	4h	65.666	−0.069%	$191.8M	$864.9M	100x	as long as short
MEXC SILVER_USDT	+0.0116%	4h	65.670	−0.064%	$122.0M	$162.8M	1000x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.717	+0.007%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0122%	1h	65.676	−0.055%	$55K	$14K	25x	as long as short
edgeX XAGUSDC	+0.0134%	4h	65.652	−0.091%	$669K	$313K	30x	as long as short
Bybit XAGUSDT	+0.0140%	4h	65.680	−0.049%	$30.6M	$48.2M	150x	as long as short
Nado XAG-PERP	+0.0141%	1h	65.672	−0.061%	$1.2M	$3.6M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0146%	4h	65.726	+0.022%	$396K	$1.5M	25x	as long as short
Lighter XAG	+0.0152%	1h	65.738	+0.039%	$5.2M	$11.6M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.720	+0.012%	$77K	$411K	20x	as long as short
Bullet SILVER-USD	+0.0209%	1h	65.755	+0.065%	$45K	$74K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0213%	8h	65.680	−0.049%	$28.0M	$85.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0216%	1h	65.665	−0.072%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.680	−0.049%	$23.2M	$52.8M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0269% / S −0.0236%	1h	65.745	+0.050%	$93K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	65.658	−0.083%	$21K	$12K	10x	as long as short
BloFin XAG-USDT	+0.0358%	4h	65.720	+0.012%	$2.7M	$772K	100x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0547%	1h	65.712	long leg	$1.0M	$943K	25x