Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0348%/8h= +38.1% APRpaid last 24h +0.064%

Price spread now: Kraken Futures against edgeX+0.312%76s7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$330.334% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 4 days (all we have)−0.224%−$22 · spread now +0.312%, 7d avg −0.066%

Together, before fees−0.084%+ Points / potential airdropedgeX: Active · farm board−$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Kraken Futures is 0.378% dearer against edgeX than usual: you sell high and buy low: +$38 more if the spread goes back to its 7-day average of −0.066%. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.140% in total (about 7.3% a year). A funding rate is set anew for every payment. 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	edgeX XAGUSDC	64.801	0.0071	pay 0.0035% / 4h	3h 19m	$660K	$314K	30x
Short	Kraken Futures PF_XAGUSD	65.003	0.0419	get 0.0052% / 1h	19m 42s	$1.0M	$894K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against edgeX. 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 edgeXbpFee Kraken FuturesbpOrdersPrice spread, now +0.312%Rate

Funding earned: $73.1
Price spread: +0.312% → −0.066%: $37.76
Slippage, 4 orders: −$14.43
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $77.44
Costs to cover: 0.334%
Break-even: from the start

Slippage from edgeX: live order book, 14 min ago; Kraken Futures: live order book, 4 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 edgeX live order book, 14 min ago	2.31 bp	6.8 bp −$7	6.8 bp −$68	9.3 bp −$928	21.4 bp −$10.7K
Sell Kraken Futures live order book, 4 min ago	2.11 bp	10.6 bp −$11	19.4 bp −$194	62.0 bp −$6,201	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	65.013	+0.327%	$12K	$6K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.030	+0.354%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.030	+0.354%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.030	+0.354%	$1.5M	$346K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.953	+0.236%	$117K	—	250x	as long as short
Gate XAG_USDT	+0.0016%	4h	65.130	+0.508%	$138.3M	$187.9M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.068	+0.413%	$4.5M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.973	+0.265%	$5.0M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−0.307%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	64.970	+0.261%	$781K	$3.0M	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	65.431	+0.973%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	65.000	+0.308%	$446K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	64.990	+0.292%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.953	+0.235%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.900	+0.153%	$5.6M	$10.1M	25x	as long as short
Variational Omni XAG	+0.0065%	4h	65.026	+0.347%	$5.4M	$9.2M	—	as long as short
edgeX XAGUSDClong	+0.0071%	4h	64.801	long leg	$660K	$314K	30x
Paradex XAG-USD-PERP	+0.0076%	8h	65.002	+0.311%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.840	+0.061%	$1.6M	$1.5M	20x	as long as short
Kalshi KXSILVERPERP	+0.0087%	24h	64.993	+0.297%	$488K	$35.1M	8.1x	as long as short
MEXC SILVER_USDT	+0.0094%	4h	65.080	+0.431%	$124.0M	$160.3M	1000x	as long as short
Pacifica XAG	+0.0100%	1h	64.949	+0.229%	$463K	$591K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.020	+0.338%	$25.1M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.750	−0.078%	$111K	$19K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.017	+0.334%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0105%	4h	65.070	+0.416%	$198.4M	$790.4M	100x	as long as short
Phoenix SILVER	+0.0111%	1h	64.615	−0.287%	$55K	$31K	25x	as long as short
Aster XAGUSDT	+0.0122%	4h	65.070	+0.416%	$2.7M	$1.0M	100x	as long as short
Hotstuff SILVER-PERP	+0.0128%	1h	64.968	+0.258%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0136%	1h	65.068	+0.413%	$173.5M	$89.0M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	65.030	+0.354%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0166%	1h	64.979	+0.275%	$1.2M	$4.2M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0210%	8h	65.070	+0.416%	$29.1M	$76.3M	50x	as long as short
Aftermath Perps XAGUSD	+0.0218%	1h	64.827	+0.041%	$78K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0220%	4h	65.120	+0.493%	$23.0M	$48.4M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	65.025	+0.346%	$92K	—	111x	as long as short
Lighter XAG	+0.0240%	1h	65.088	+0.444%	$5.2M	$11.3M	25x	as long as short
GRVT XAG_USDT_Perp	+0.0298%	4h	64.847	+0.071%	$386K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	65.025	+0.346%	$45K	$75K	10x	as long as short
BloFin XAG-USDT	+0.0336%	4h	64.980	+0.277%	$2.7M	$697K	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0366%	1h	65.010	+0.323%	$76K	$435K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	64.890	+0.138%	$20K	$15K	10x	as long as short
Bybit XAGUSDT	+0.0382%	4h	65.080	+0.431%	$30.2M	$43.6M	150x	as long as short
Kraken Futures PF_XAGUSDshort	+0.0419%	1h	65.003	+0.312%	$1.0M	$894K	25x