XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0454%/8h= −49.7% APRnext payment −$0.57 per $10,000 · paid last 24h −0.072%

Price spread now: Polymarket Perps against Deribit−0.039%7-day average −0.052% · you buy dearer than you sell

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−$260.258% of the position

Long on Deribit Short on Polymarket Perps

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)−0.032%−$3 · spread now −0.039%, 7d avg −0.052%

Together, before fees−0.120%−$12 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 -8.6% 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	Deribit SILVER_USDC-PERPETUAL	66.340	0.0504	pay 0.0063% / 1h	36m 43s	$50K	$325K	20x
Short	Polymarket Perps SILVER-USD	66.314	0.0050	get 0.0006% / 1h	36m 43s	$3.9M	$669K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Deribit. 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 DeribitbpFee Polymarket PerpsbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$95.39
Price spread: −0.039% → −0.052%: $1.29
Slippage, 4 orders: −$10.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$119.89
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from Deribit: live order book, 32 min ago; Polymarket Perps: live order book, 2 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 Deribit live order book, 32 min ago	0.75 bp	4.3 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 2 min ago	1.28 bp	5.8 bp −$6	6.0 bp −$60	7.7 bp −$767	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
dYdX XAG-USD	0.0000%	1h	66.294	−0.069%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.400	+0.090%	$153.4M	$162.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.360	+0.030%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.410	+0.106%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.370	+0.045%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.278	−0.093%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.348	+0.011%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.323	−0.026%	$5.4M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.090%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.420	+0.121%	$799K	$2.9M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.810	+0.708%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	+0.110%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	66.314	−0.039%	$3.9M	$669K	20x
SoDEX SILVER-USD	+0.0050%	1h	66.275	−0.098%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.280	−0.090%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.400	+0.090%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.336	−0.006%	$562K	$23.2M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.403	+0.095%	$1.2M	$4.3M	20x	as long as short
Bybit XAGUSDT	+0.0088%	4h	66.420	+0.121%	$26.4M	$35.9M	150x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.338	−0.003%	$165.6M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.342	+0.003%	$472K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.350	+0.015%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.470	+0.196%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.347%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0114%	4h	66.360	+0.030%	$2.7M	$967K	100x	as long as short
Paradex XAG-USD-PERP	+0.0123%	8h	66.374	+0.052%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	+0.248%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.333	−0.010%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0152%	4h	66.390	+0.075%	$102.2M	$158.1M	1000x	as long as short
Binance XAGUSDT	+0.0154%	4h	66.395	+0.083%	$192.6M	$708.3M	100x	as long as short
Lighter XAG	+0.0160%	1h	66.386	+0.069%	$5.3M	$10.5M	25x	as long as short
edgeX XAGUSDC	+0.0166%	4h	66.514	+0.262%	$675K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.271%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0198%	8h	66.400	+0.090%	$28.0M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.427	+0.132%	$80K	$38K	10x	as long as short
Hotstuff SILVER-PERP	+0.0224%	1h	66.368	+0.042%	$35K	$21K	20x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.390	+0.075%	$24.0M	$46.1M	100x	as long as short
Nado XAG-PERP	+0.0229%	1h	66.324	−0.024%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0242%	4h	66.526	+0.280%	$391K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.473	+0.200%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.353	+0.020%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.345	+0.008%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.308	−0.048%	$765K	$471K	25x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0504%	1h	66.340	long leg	$50K	$325K	20x