XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0574%/8h= −62.8% APRnext payment −$0.72 per $10,000 · paid last 24h −0.069%

Price spread now: tradeXYZ against Kraken Futures−0.009%7-day average +0.015% · 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−$41as in the Price arb table

costs, in and out, $10k−$380.382% of the position

Long on Kraken Futures Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days−0.072%−$7 on $10k

Price spread, last 4 days (all we have)−0.001%$0 · spread now −0.009%, 7d avg +0.015%

Together, before fees−0.073%+ Points / potential airdroptradeXYZ: Active · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and tradeXYZ is 0.024% 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 +0.015%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.072% in total (about -3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 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	65.958	0.0624	pay 0.0078% / 1h	39m 08s	$910K	$683K	25x
Short	tradeXYZ xyz:SILVER	65.952	0.0050	get 0.0006% / 1h	39m 08s	$166.0M	$73.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$120.52
Price spread: −0.009% → +0.015%: −$2.4
Slippage, 4 orders: −$10.21
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$161.13
Costs to cover: 0.382%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 14 min ago; tradeXYZ: 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, 14 min ago	2.87 bp	10.5 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 11 min ago	0.08 bp	9.6 bp −$10	10.1 bp −$101	doesn't fit	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	−0.0046%	1h	65.880	−0.118%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.037%	$14K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.000	+0.064%	$149.5M	$163.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.990	+0.048%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.020	+0.094%	$1.0M	$966K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.990	+0.048%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.930	−0.042%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.976	+0.027%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.931	−0.041%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.670%	$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	65.970	+0.018%	$793K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.408	+0.682%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.958	0.000%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.931	−0.041%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVERshort	+0.0050%	1h	65.952	−0.009%	$166.0M	$73.5M	25x
QFEX SILVER-USD	+0.0060%	1h	65.980	+0.033%	$114K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0072%	1h	65.963	+0.007%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERP	+0.0072%	24h	65.954	−0.006%	$540K	$25.9M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	65.889	−0.105%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.992	+0.051%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.924	−0.052%	$469K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.960	+0.003%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.920	−0.058%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0109%	4h	66.010	+0.079%	$27.4M	$36.4M	150x	as long as short
Lighter XAG	+0.0112%	1h	65.982	+0.036%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0116%	8h	65.986	+0.042%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0137%	4h	65.970	+0.018%	$2.7M	$871K	100x	as long as short
Nado XAG-PERP	+0.0181%	1h	65.953	−0.008%	$1.4M	$6.0M	10x	as long as short
Aevo XAG-PERP	+0.0184%	1h	65.978	+0.030%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0188%	4h	65.963	+0.008%	$5.6M	$9.4M	—	as long as short
Binance XAGUSDT	+0.0202%	4h	65.990	+0.048%	$191.0M	$702.6M	100x	as long as short
MEXC SILVER_USDT	+0.0202%	4h	65.980	+0.033%	$112.8M	$152.1M	1000x	as long as short
BloFin XAG-USDT	+0.0204%	4h	66.000	+0.064%	$2.6M	$556K	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.970	+0.018%	$75K	$363K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0206%	4h	65.973	+0.023%	$394K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.012%	$1.8M	$1.0M	20x	as long as short
Aftermath Perps XAGUSD	+0.0213%	1h	65.945	−0.019%	$79K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0213%	4h	65.953	−0.007%	$669K	$310K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0233%	8h	66.000	+0.064%	$27.7M	$64.8M	50x	as long as short
Bullet SILVER-USD	+0.0234%	1h	65.996	+0.057%	$45K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0242%	4h	65.990	+0.048%	$23.9M	$45.3M	100x	as long as short
Hibachi XAG/USDT-P	+0.0328%	1h	65.930	−0.043%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.995	+0.056%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0624%	1h	65.958	long leg	$910K	$683K	25x