Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0271%/8h= −29.7% APRpaid last 24h +0.089%

Price spread now: Kraken Futures against SunX−0.080%7-day average −0.089% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as in the Funding arb table

Net, price: spread back to 7d avg − costs−$83as in the Price arb table

costs, in and out, $10k−$840.842% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.198%+$20 on $10k

Price spread, last 3 days (all we have)−0.035%−$3 · spread now −0.080%, 7d avg −0.089%

Together, before fees+0.163%+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.089%, so right now this pair is about funding alone: −$8 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.198%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.450	0	get 0.0000% / 4h	1h 03m	$2K	$3.1M	20x
Short	Kraken Futures PF_XAGUSD	66.397	−0.0271	pay 0.0034% / 1h	3m 31s	$768K	$569K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$56.91
Price spread: −0.080% → −0.089%: $0.94
Slippage, 4 orders: −$66.18
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$140.14
Costs to cover: 0.842%
Break-even: never at this rate

Slippage from SunX: live order book, 4 min ago; Kraken Futures: live order book, 15 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 SunX live order book, 4 min ago	29.37 bp	33.4 bp −$33	62.5 bp −$625	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 15 min ago	2.83 bp	8.2 bp −$8	16.6 bp −$166	69.8 bp −$6,985	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
Kraken Futures PF_XAGUSDshort	−0.0271%	1h	66.397	−0.080%	$768K	$569K	25x
dYdX XAG-USD	0.0000%	1h	66.359	−0.138%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.470	+0.030%	$25.7M	$33.5M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.460	+0.014%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.460	+0.015%	$146.6M	$174.0M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.450	long leg	$2K	$3.1M	20x
HTX XAG-USDT	0.0000%	4h	66.440	−0.015%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.430	−0.030%	$1.5M	$249K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.363	−0.131%	$120K	—	250x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.440	−0.015%	$125K	$2.8M	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	66.438	−0.018%	$4.8M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.387	−0.095%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.075%	$11K	$94K	52x	as long as short
BloFin XAG-USDT	+0.0040%	4h	66.380	−0.105%	$2.6M	$848K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	66.380	−0.105%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.893	+0.667%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.422	−0.042%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.362	−0.132%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.360	−0.135%	$5.7M	$10.0M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0054%	1h	66.425	−0.038%	$165.4M	$88.3M	25x	as long as short
Kalshi KXSILVERPERP	+0.0058%	24h	66.395	−0.083%	$589K	$21.4M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	66.345	−0.158%	$56K	$26K	25x	as long as short
Aster XAGUSDT	+0.0078%	4h	66.450	0.000%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0080%	4h	66.386	−0.096%	$5.5M	$10.5M	—	as long as short
Bitget XAGUSDT	+0.0088%	4h	66.470	+0.030%	$24.2M	$48.0M	100x	as long as short
MEXC SILVER_USDT	+0.0094%	4h	66.450	0.000%	$124.2M	$182.8M	1000x	as long as short
Binance XAGUSDT	+0.0095%	4h	66.469	+0.028%	$191.1M	$729.8M	100x	as long as short
edgeX XAGUSDC	+0.0096%	4h	66.408	−0.063%	$674K	$315K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.391	−0.089%	$475K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.400	−0.075%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	−0.181%	$113K	$19K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.419	−0.046%	$48K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.380	−0.105%	$1.9M	$864K	20x	as long as short
Paradex XAG-USD-PERP	+0.0115%	8h	66.440	−0.016%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0131%	1h	66.316	−0.201%	$80K	$40K	10x	as long as short
Lighter XAG	+0.0136%	1h	66.441	−0.014%	$5.2M	$11.0M	25x	as long as short
Hotstuff SILVER-PERP	+0.0136%	1h	66.405	−0.068%	$35K	$21K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0140%	4h	66.431	−0.029%	$403K	$1.4M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	66.460	+0.015%	$27.5M	$66.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0216%	1h	66.380	−0.105%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0217%	1h	66.411	−0.059%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.435	−0.023%	$103K	—	111x	as long as short
Bullet SILVER-USD	+0.0268%	1h	66.465	+0.023%	$46K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.420	−0.045%	$51K	$359K	20x	as long as short