XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0322%/8h= −35.2% APRnext payment −$0.40 per $10,000 · paid last 24h +0.074%

Price spread now: Kraken Futures against Polymarket Perps0.000%7-day average −0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$390.389% of the position

Long on Polymarket Perps Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.101%+$10 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now 0.000%, 7d avg −0.015%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.015%, so right now this pair is about funding alone: −$10 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.101%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.101% in total (about 5.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.40 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	66.176	0.0050	pay 0.0006% / 1h	47m 13s	$3.9M	$715K	20x
Short	Kraken Futures PF_XAGUSD	66.176	−0.0272	pay 0.0034% / 1h	47m 13s	$777K	$588K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$67.6
Price spread: 0.000% → −0.015%: $1.49
Slippage, 4 orders: −$20.88
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$104.99
Costs to cover: 0.389%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Kraken Futures: live order book, 36 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	0.83 bp	5.4 bp −$5	6.2 bp −$62	7.7 bp −$772	doesn't fit
Sell Kraken Futures live order book, 36 min ago	2.33 bp	18.3 bp −$18	32.3 bp −$323	150.5 bp −$15.0K	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
Kraken Futures PF_XAGUSDshort	−0.0272%	1h	66.176	0.000%	$777K	$588K	25x
Hotstuff SILVER-PERP	−0.0072%	1h	66.161	−0.023%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.121	−0.083%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.210	+0.051%	$25.5M	$34.1M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.209	+0.049%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.190	+0.021%	$146.4M	$171.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	+0.066%	$2K	$3.2M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.220	+0.066%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.210	+0.051%	$1.5M	$247K	100x	as long as short
Bitget XAGUSDT	+0.0002%	4h	66.210	+0.051%	$23.7M	$48.6M	100x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.140	−0.054%	$120K	—	10x	as long as short
Aster XAGUSDT	+0.0005%	4h	66.201	+0.038%	$2.8M	$1.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0008%	4h	66.209	+0.050%	$395K	$1.6M	25x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.190	+0.021%	$144K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0029%	4h	66.180	+0.006%	$2.5M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0031%	4h	66.189	+0.020%	$5.4M	$10.7M	—	as long as short
Lighter RH XAG	+0.0032%	1h	66.167	−0.013%	$4.5M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.143	−0.049%	$5.5M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.338%	$11K	$94K	52x	as long as short
Lighter XAG	+0.0040%	1h	66.178	+0.003%	$5.2M	$10.7M	25x	as long as short
MEXC SILVER_USDT	+0.0040%	4h	66.200	+0.036%	$116.7M	$181.1M	1000x	as long as short
StandX XAG-USD	+0.0040%	1h	66.160	−0.024%	$792K	$2.8M	40x	as long as short
Binance XAGUSDT	+0.0041%	4h	66.209	+0.050%	$189.3M	$760.4M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.640	+0.701%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.156	−0.030%	$164.0M	$91.7M	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	66.176	long leg	$3.9M	$715K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.140	−0.054%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.120	−0.085%	$5.6M	$9.9M	25x	as long as short
Kalshi KXSILVERPERP	+0.0054%	24h	66.159	−0.026%	$589K	$21.6M	8.1x	as long as short
Aevo XAG-PERP	+0.0056%	1h	66.198	+0.033%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0056%	4h	66.191	+0.022%	$671K	$315K	30x	as long as short
Phoenix SILVER	+0.0073%	1h	66.148	−0.042%	$56K	$26K	25x	as long as short
Aftermath Perps XAGUSD	+0.0076%	1h	66.159	−0.026%	$80K	$40K	10x	as long as short
Paradex XAG-USD-PERP	+0.0090%	8h	66.186	+0.016%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.152	−0.036%	$474K	$641K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.009%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.150	−0.039%	$113K	$51K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.180	+0.006%	$1.9M	$888K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0140%	8h	66.210	+0.051%	$27.2M	$67.5M	50x	as long as short
Nado XAG-PERP	+0.0150%	1h	66.151	−0.038%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0175%	1h	66.213	+0.056%	$45K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0360% / S −0.0369%	1h	66.215	+0.059%	$103K	—	29x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0808%	1h	66.220	+0.066%	$60K	$354K	20x	as long as short