XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0408%/8h= +44.6% APRnext payment +$0.51 per $10,000 · paid last 24h +0.071%

Price spread now: Kraken Futures against QFEX+0.020%7-day average −0.059% · 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−$24as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on QFEX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.023%−$2 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now +0.020%, 7d avg −0.059%

Together, before fees−0.115%−$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.078% dearer against QFEX than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.059%.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.023% in total (about -2.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 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	QFEX SILVER-USD	66.400	0.0054	pay 0.0007% / 1h	17m 55s	$115K	$2.7M	20x
Short	Kraken Futures PF_XAGUSD	66.413	0.0462	get 0.0058% / 1h	17m 55s	$766K	$478K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against QFEX. 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 QFEXbpFee Kraken FuturesbpOrdersPrice spread, now +0.020%Rate

Funding earned: $85.62
Price spread: +0.020% → −0.059%: $7.84
Slippage, 4 orders: −$11.9
Fee QFEX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $61.57
Costs to cover: 0.319%
Break-even: 2.0 days

Slippage from QFEX: live order book, 5 min ago; Kraken Futures: live order book, 50 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 QFEX live order book, 5 min ago	1.51 bp	6.5 bp −$7	6.5 bp −$65	9.3 bp −$935	doesn't fit
Sell Kraken Futures live order book, 50 min ago	2.75 bp	8.6 bp −$9	16.6 bp −$166	52.0 bp −$5,197	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	−0.056%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.420	+0.030%	$152.6M	$164.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.450	+0.075%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.490	+0.136%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.440	+0.060%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.388	−0.018%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.424	+0.036%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.330	−0.106%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	0.000%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.430	+0.045%	$799K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.873	+0.712%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.352	−0.072%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0049%	1h	66.320	−0.120%	$5.7M	$9.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.417	+0.026%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.372	−0.042%	$3K	$6K	20x	as long as short
QFEX SILVER-USDlong	+0.0054%	1h	66.400	long leg	$115K	$2.7M	20x
Kalshi KXSILVERPERP	+0.0061%	24h	66.406	+0.009%	$561K	$23.7M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.430	+0.045%	$1.3M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.373	−0.041%	$165.7M	$75.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.376	−0.036%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.410	+0.015%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.360	−0.060%	$126K	$23K	50x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	66.388	−0.018%	$35K	$21K	20x	as long as short
Bybit XAGUSDT	+0.0125%	4h	66.410	+0.015%	$26.6M	$36.4M	150x	as long as short
Aster XAGUSDT	+0.0131%	4h	66.446	+0.069%	$2.8M	$939K	100x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.434	+0.051%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0159%	4h	66.443	+0.064%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.438	+0.057%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0174%	4h	66.410	+0.015%	$102.8M	$158.5M	1000x	as long as short
Binance XAGUSDT	+0.0176%	4h	66.400	0.000%	$192.4M	$707.0M	100x	as long as short
edgeX XAGUSDC	+0.0180%	4h	66.431	+0.047%	$674K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.015%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.437	+0.055%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0208%	8h	66.400	0.000%	$28.0M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.385	−0.022%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0228%	1h	66.392	−0.012%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	66.363	−0.056%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.400	0.000%	$23.9M	$46.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.440	+0.060%	$397K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.462	+0.093%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.465	+0.098%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.420	+0.030%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSDshort	+0.0462%	1h	66.413	+0.020%	$766K	$478K	25x