Funding you earn now, next payment 06:00 UTC+0.0469%/8h= +51.4% APRpaid last 24h +0.093%
Price spread now: Kraken Futures against Phemex−0.050%7-day average −0.110% · you buy dearer than you sell
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$39as in the Price arb table
costs, in and out, $10k−$460.455% of the position
Funding, last 7 days+0.209%+$21 on $10k
+Price spread, last 4 days (all we have)−0.100%−$10 · spread now −0.050%, 7d avg −0.110%
=Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.060% dearer against Phemex than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.110%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.209% in total (about 10.9% 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 | Phemex XAGUSDT | 65.650 | 0 | get 0.0000% / 4h | 2h 03m | $1.5M | $280K | 100x |
| Short | Kraken Futures PF_XAGUSD | 65.617 | 0.0469 | get 0.0059% / 1h | 3m 30s | $915K | $735K | 25x |
Phemex XAGUSDT
Kraken Futures PF_XAGUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Phemex. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $98.58
- Price spread: −0.050% → −0.110%
- $6.02
- Slippage, 4 orders
- −$23.5
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $59.09
- Costs to cover
- 0.455%
- Break-even
- 2.8 days
Slippage from Phemex: live order book, 4 min ago; Kraken Futures: live order book, 45 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 Phemex live order book, 4 min ago | 1.52 bp | 19.4 bp −$19 | 22.9 bp −$229 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 45 min ago | 3.47 bp | 9.3 bp −$9 | 16.5 bp −$165 | 61.3 bp −$6,135 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hibachi XAG/USDT-P | −0.0064% | 1h | 65.599 | −0.077% | $20K | $19K | 10x | as long as short |
| Ondo Perps XAG-USD.P | −0.0008% | 1h | 65.550 | −0.152% | $5.7M | $9.7M | 25x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 65.582 | −0.104% | $12K | $5K | 5x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.660 | +0.015% | $2K | $2.6M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 65.680 | +0.046% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDTlong | 0.0000% | 4h | 65.650 | long leg | $1.5M | $280K | 100x | |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.601 | −0.075% | $119K | — | 250x | as long as short |
| RISEx XAG/USDC | +0.0030% | 1h | 65.632 | −0.028% | $1.2M | $4.9M | 20x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 65.615 | −0.054% | $4.7M | $9.6M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 65.572 | −0.119% | $5.1M | $11.7M | 10x | as long as short |
Hibachi XAG/USDT-P
Ondo Perps XAG-USD.P
dYdX XAG-USD
SunX XAG-USDT
HTX XAG-USDT
gTrade (Gains Network) XAG/USD
RISEx XAG/USDC
Lighter RH XAG
Extended XAG-USDShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +1.142% | $11K | $94K | 52x | as long as short |
| Phoenix SILVER | +0.0036% | 1h | 65.609 | −0.062% | $56K | $26K | 25x | as long as short |
| Gate XAG_USDT | +0.0038% | 4h | 65.630 | −0.030% | $144.3M | $181.4M | 100x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 65.620 | −0.046% | $789K | $3.0M | 40x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.036 | +0.588% | — | — | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.564 | −0.131% | $3.9M | $711K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.596 | −0.082% | $3K | $6K | 20x | as long as short |
| QFEX SILVER-USD | +0.0051% | 1h | 65.610 | −0.061% | $152K | $2.8M | 20x | as long as short |
| Paradex XAG-USD-PERP | +0.0062% | 8h | 65.593 | −0.087% | $29K | $1K | 5x | as long as short |
| Aster XAGUSDT | +0.0070% | 4h | 65.620 | −0.046% | $2.7M | $944K | 100x | as long as short |
| tradeXYZ xyz:SILVER | +0.0075% | 1h | 65.570 | −0.122% | $170.8M | $82.4M | 25x | as long as short |
| Kalshi KXSILVERPERP | +0.0076% | 24h | 65.617 | −0.050% | $461K | $29.3M | 8.1x | as long as short |
| Bybit XAGUSDT | +0.0090% | 4h | 65.630 | −0.030% | $28.9M | $39.1M | 150x | as long as short |
| Hotstuff SILVER-PERP | +0.0096% | 1h | 65.606 | −0.067% | $35K | $21K | 20x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 65.581 | −0.105% | $468K | $629K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.610 | −0.061% | $24.7M | $4.8M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 65.640 | −0.015% | $112K | $19K | 50x | as long as short |
| Binance XAGUSDT | +0.0117% | 4h | 65.618 | −0.049% | $188.7M | $744.8M | 100x | as long as short |
| Variational Omni XAG | +0.0120% | 4h | 65.674 | +0.036% | $5.5M | $9.5M | — | as long as short |
| MEXC SILVER_USDT | +0.0122% | 4h | 65.620 | −0.046% | $112.7M | $162.4M | 1000x | as long as short |
| Lighter XAG | +0.0128% | 1h | 65.618 | −0.049% | $5.4M | $11.4M | 25x | as long as short |
| Aevo XAG-PERP | +0.0128% | 1h | 65.650 | −0.001% | $47K | — | 10x | as long as short |
| edgeX XAGUSDC | +0.0139% | 4h | 65.652 | +0.003% | $668K | $313K | 30x | as long as short |
| Nado XAG-PERP | +0.0147% | 1h | 65.610 | −0.061% | $1.3M | $5.6M | 10x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0176% | 1h | 65.690 | +0.061% | $1.6M | $1.3M | 20x | as long as short |
| GRVT XAG_USDT_Perp | +0.0194% | 4h | 65.738 | +0.133% | $389K | $1.5M | 25x | as long as short |
| Bitget XAGUSDT | +0.0206% | 4h | 65.610 | −0.061% | $23.8M | $46.2M | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0207% | 1h | 65.610 | −0.061% | $79K | $37K | 10x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0207% | 1h | 65.640 | −0.015% | $66K | $368K | 20x | as long as short |
| OKX XAG-USDT-SWAP | +0.0208% | 8h | 65.620 | −0.046% | $27.9M | $70.1M | 50x | as long as short |
| Bullet SILVER-USD | +0.0235% | 1h | 65.658 | +0.012% | $44K | $76K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0321% / S −0.0301% | 1h | 65.665 | +0.023% | $93K | — | 111x | as long as short |
| BloFin XAG-USDT | +0.0369% | 4h | 65.660 | +0.015% | $2.6M | $622K | 100x | as long as short |
| Kraken Futures PF_XAGUSDshort | +0.0469% | 1h | 65.617 | −0.050% | $915K | $735K | 25x |
Injective XAG/USDC PERP
Phoenix SILVER
Gate XAG_USDT
StandX XAG-USD
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
QFEX SILVER-USD
Paradex XAG-USD-PERP
Aster XAGUSDT
tradeXYZ xyz:SILVER
Kalshi KXSILVERPERP
Bybit XAGUSDT
Hotstuff SILVER-PERP
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Binance XAGUSDT
Variational Omni XAG
MEXC SILVER_USDT
Lighter XAG
Aevo XAG-PERP
edgeX XAGUSDC
Nado XAG-PERP
Coinbase International SILVER-PERP-INTX
GRVT XAG_USDT_Perp
Bitget XAGUSDT
Aftermath Perps XAGUSD
Deribit SILVER_USDC-PERPETUAL
OKX XAG-USDT-SWAP
Bullet SILVER-USD
GMX SILVER/USD [ETH-USDC]
BloFin XAG-USDT