XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0443%/8h= −48.5% APRnext payment −$0.55 per $10,000 · paid last 24h −0.081%

Price spread now: Polymarket Perps against Kraken Futures−0.009%48s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$290.287% of the position

Long on Kraken Futures Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.009%, 7d avg +0.014%

Together, before fees−0.107%−$11 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 Polymarket Perps is 0.023% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.014%). Swap the legs. The two prices were read 48 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 -0.118% in total (about -6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.55 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	65.356	0.0493	pay 0.0062% / 1h	10m 29s	$916K	$746K	25x
Short	Polymarket Perps SILVER-USD	65.350	0.0050	get 0.0006% / 1h	10m 29s	$3.8M	$856K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$92.94
Price spread: −0.009% → +0.014%: −$2.32
Slippage, 4 orders: −$10.71
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$123.97
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; Polymarket Perps: 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, 33 min ago	2.80 bp	8.6 bp −$9	16.0 bp −$160	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.54 bp	4.5 bp −$5	5.3 bp −$53	6.8 bp −$684	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	−0.0076%	1h	65.270	−0.131%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0016%	1h	65.364	+0.012%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.303	−0.081%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.390	+0.052%	$27.8M	$39.7M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.380	+0.037%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.420	+0.098%	$1.1M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.400	+0.067%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.344	−0.019%	$118K	—	250x	as long as short
Hibachi XAG/USDT-P	+0.0024%	1h	65.340	−0.025%	$20K	$19K	10x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.390	+0.052%	$141.1M	$183.9M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAG	+0.0030%	4h	65.393	+0.057%	$5.5M	$9.3M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.365	+0.014%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.314	−0.065%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.597%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.380	+0.037%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0040%	4h	65.394	+0.058%	$2.7M	$975K	100x	as long as short
Vest SI-PERP	+0.0046%	1h	65.793	+0.669%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.380	+0.037%	$152K	$1.8M	20x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	65.350	−0.009%	$3.8M	$856K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.329	−0.041%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.358	+0.004%	$29K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0056%	1h	65.356	0.000%	$170.4M	$83.7M	25x	as long as short
MEXC SILVER_USDT	+0.0056%	4h	65.380	+0.037%	$117.3M	$157.8M	1000x	as long as short
edgeX XAGUSDC	+0.0056%	4h	65.387	+0.048%	$666K	$312K	30x	as long as short
Binance XAGUSDT	+0.0057%	4h	65.387	+0.047%	$191.4M	$762.8M	100x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.388	+0.049%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.356	0.000%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.379	+0.035%	$47K	—	10x	as long as short
Kalshi KXSILVERPERP	+0.0078%	24h	65.351	−0.008%	$493K	$31.2M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.314	−0.064%	$469K	$628K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.350	−0.009%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.370	+0.022%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.290	−0.101%	$1.6M	$1.4M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0132%	4h	65.416	+0.092%	$391K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0143%	1h	65.335	−0.032%	$1.2M	$5.1M	10x	as long as short
Lighter XAG	+0.0160%	1h	65.373	+0.026%	$5.3M	$11.6M	25x	as long as short
Bitget XAGUSDT	+0.0172%	4h	65.380	+0.037%	$23.7M	$46.4M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0184%	8h	65.380	+0.037%	$28.0M	$71.0M	50x	as long as short
Bullet SILVER-USD	+0.0198%	1h	65.394	+0.058%	$44K	$76K	10x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.351	−0.007%	$79K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0227%	4h	65.400	+0.067%	$2.6M	$601K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0273% / S −0.0241%	1h	65.405	+0.075%	$93K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0362%	1h	65.390	+0.052%	$65K	$382K	20x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0493%	1h	65.356	long leg	$916K	$746K	25x