Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0462%/8h= −50.6% APRpaid last 24h −0.085%

Price spread now: SunX against Kraken Futures+0.059%7-day average +0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$105as in the Funding arb table

Net, price: spread back to 7d avg − costs−$87as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.204%−$20 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now +0.059%, 7d avg +0.088%

Together, before fees−0.157%−$16 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 SunX is 0.029% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.088%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.204% in total (about -10.7% 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	66.351	0.0462	pay 0.0058% / 1h	16m 05s	$765K	$478K	25x
Short	SunX XAG-USDT	66.390	0	get 0.0000% / 4h	2h 16m	$2K	$2.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.059%Rate

Funding earned: −$97.12
Price spread: +0.059% → +0.088%: −$2.9
Slippage, 4 orders: −$66.23
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$184.24
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 52 min ago; SunX: live order book, 11 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, 52 min ago	2.75 bp	8.9 bp −$9	13.7 bp −$137	doesn't fit	doesn't fit
Sell SunX live order book, 11 min ago	29.38 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit

XAG on 43 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	66.363	+0.018%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	+0.059%	$153.3M	$164.3M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.390	+0.059%	$2K	$2.8M	20x
HTX XAG-USDT	0.0000%	4h	66.420	+0.104%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.410	+0.089%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.319	−0.049%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.375	+0.036%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.339	−0.018%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.317	−0.051%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.074%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.390	+0.059%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.846	+0.746%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.402	+0.077%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.378	+0.041%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.286	−0.098%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.300	−0.077%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.380	+0.044%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0062%	24h	66.371	+0.030%	$541K	$23.7M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.412	+0.092%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.341	−0.015%	$165.9M	$76.1M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.354	+0.004%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	−0.032%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.380	+0.044%	$126K	$23K	50x	as long as short
Bybit XAGUSDT	+0.0128%	4h	66.420	+0.104%	$26.6M	$36.4M	150x	as long as short
Aster XAGUSDT	+0.0132%	4h	66.360	+0.014%	$2.7M	$939K	100x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.403	+0.079%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0166%	4h	66.373	+0.033%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.350	−0.002%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0176%	4h	66.360	+0.014%	$102.7M	$158.5M	1000x	as long as short
Binance XAGUSDT	+0.0179%	4h	66.376	+0.038%	$192.3M	$706.7M	100x	as long as short
edgeX XAGUSDC	+0.0184%	4h	66.421	+0.106%	$674K	$315K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.089%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.349	−0.003%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0210%	8h	66.430	+0.119%	$28.0M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.355	+0.006%	$1.3M	$6.5M	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.365	+0.021%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0233%	1h	66.381	+0.046%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.360	+0.014%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0266%	4h	66.450	+0.149%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.408	+0.086%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.405	+0.081%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.340	−0.017%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0462%	1h	66.351	long leg	$765K	$478K	25x