XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0453%/8h= +49.7% APRnext payment +$0.57 per $10,000 · paid last 24h +0.072%

Price spread now: Deribit against Polymarket Perps+0.051%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Polymarket Perps Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 3 days (all we have)+0.020%+$2 · spread now +0.051%, 7d avg +0.052%

Together, before fees+0.108%+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.052%, so right now this pair is about funding alone: +$14 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.088% in total (about 8.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.57 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	Polymarket Perps SILVER-USD	66.376	0.0050	pay 0.0006% / 1h	56m 40s	$3.9M	$672K	20x
Short	Deribit SILVER_USDC-PERPETUAL	66.410	0.0503	get 0.0063% / 1h	56m 40s	$50K	$326K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Polymarket Perps. 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 Polymarket PerpsbpFee DeribitbpOrdersPrice spread, now +0.051%Rate

Funding earned: $95.23
Price spread: +0.051% → +0.052%: −$0.09
Slippage, 4 orders: −$7.87
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $72.27
Costs to cover: 0.229%
Break-even: 1.7 days

Slippage from Polymarket Perps: live order book, 2 min ago; Deribit: live order book, 7 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 Polymarket Perps live order book, 2 min ago	1.21 bp	5.6 bp −$6	5.8 bp −$58	7.3 bp −$732	doesn't fit
Sell Deribit live order book, 7 min ago	0.75 bp	4.3 bp −$4	5.9 bp −$59	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	66.359	−0.026%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	+0.021%	$152.1M	$161.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.410	+0.051%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.430	+0.081%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.420	+0.066%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.351	−0.038%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.387	+0.017%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.320	−0.084%	$5.3M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.036%	$11K	$94K	52x	as long as short
Ondo Perps XAG-USD.P	+0.0039%	1h	66.290	−0.130%	$5.7M	$9.7M	25x	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	66.440	+0.096%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.845	+0.707%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.307	−0.104%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	66.376	long leg	$3.9M	$672K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.345	−0.047%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.390	+0.021%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.380	+0.006%	$540K	$24.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.335	−0.061%	$472K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.360	−0.024%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.290	−0.130%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0114%	1h	66.368	−0.012%	$166.1M	$75.7M	25x	as long as short
Paradex XAG-USD-PERP	+0.0141%	8h	66.371	−0.008%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0144%	4h	66.415	+0.059%	$2.8M	$941K	100x	as long as short
Bybit XAGUSDT	+0.0146%	4h	66.400	+0.036%	$26.7M	$36.2M	150x	as long as short
Lighter XAG	+0.0152%	1h	66.371	−0.008%	$5.3M	$10.4M	25x	as long as short
Hotstuff SILVER-PERP	+0.0160%	1h	66.342	−0.051%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0176%	4h	66.333	−0.064%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.406	+0.045%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.388	+0.018%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0192%	4h	66.380	+0.006%	$111.7M	$151.6M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.320	−0.084%	$1.9M	$971K	20x	as long as short
Binance XAGUSDT	+0.0192%	4h	66.389	+0.020%	$192.3M	$707.3M	100x	as long as short
edgeX XAGUSDC	+0.0197%	4h	66.335	−0.062%	$673K	$315K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	66.390	+0.021%	$27.9M	$65.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.338	−0.058%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.329	−0.071%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0255%	1h	66.365	−0.016%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0256%	4h	66.380	+0.006%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.367	−0.014%	$398K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0315%	1h	66.434	+0.088%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0328% / S −0.0337%	1h	66.425	+0.074%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0503%	1h	66.410	+0.051%	$50K	$326K	20x
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.380	+0.005%	$765K	$478K	25x	as long as short