Funding arb · Price arb /

XAG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0638%/8h= −69.8% APRpaid last 24h −0.077%

Price spread now: Aster against Kraken Futures+0.099%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$270.273% of the position

Long on Kraken Futures Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.177%−$18 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.099%, 7d avg +0.072%

Together, before fees−0.256%+ Points / potential airdropAster: Stage 5 · farm board−$26 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.027% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.099% now, against its 7-day average of +0.072%): +$3 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.177% in total) that is about 26 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.177% in total (about -9.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAGUSD	65.345	0.0775	pay 0.0097% / 1h	14m 27s	$1.0M	$937K	25x
Short	Aster XAGUSDT	65.410	0.0138	get 0.0069% / 4h	2h 14m	$2.7M	$1.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Kraken FuturesbpFee AsterbpOrdersPrice spread, now +0.099%Rate

Funding earned: −$133.94
Price spread: +0.099% → +0.072%: $2.71
Slippage, 4 orders: −$9.34
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$158.57
Costs to cover: 0.273%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Aster: 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 Kraken Futures live order book, 2 min ago	2.75 bp	8.0 bp −$8	16.2 bp −$162	135.6 bp −$13.6K	doesn't fit
Sell Aster live order book, 2 min ago	0.76 bp	4.8 bp −$5	6.8 bp −$68	14.4 bp −$1,439	doesn't fit

XAG on 44 exchanges

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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.137%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0006%	1h	65.280	−0.100%	$5.7M	$10.5M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.326	−0.029%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.420	+0.115%	$139.2M	$200.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.380	+0.053%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.410	+0.099%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.370	+0.038%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.302	−0.065%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.400	+0.084%	$4.5M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.341	−0.006%	$5.1M	$11.6M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0040%	1h	65.364	+0.029%	$36K	$23K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	65.340	−0.008%	$786K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.815	+0.719%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.368	+0.035%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.294	−0.078%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0058%	8h	65.391	+0.071%	$29K	$166	5x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.380	+0.053%	$444K	$1.4M	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.330	−0.023%	$1.6M	$1.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0096%	24h	65.361	+0.024%	$613K	$37.5M	8.1x	as long as short
Variational Omni XAG	+0.0100%	4h	65.381	+0.055%	$5.7M	$9.2M	—	as long as short
Pacifica XAG	+0.0100%	1h	65.340	−0.008%	$465K	$574K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.360	+0.023%	$25.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.270	−0.115%	$111K	$19K	50x	as long as short
Phoenix SILVER	+0.0110%	1h	65.288	−0.087%	$55K	$13K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0122%	1h	65.365	+0.030%	$174.1M	$93.0M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.398	+0.080%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0130%	4h	65.400	+0.084%	$119.9M	$166.8M	1000x	as long as short
Binance XAGUSDT	+0.0131%	4h	65.400	+0.084%	$193.1M	$835.8M	100x	as long as short
edgeX XAGUSDC	+0.0135%	4h	65.324	−0.033%	$666K	$315K	30x	as long as short
Aster XAGUSDTshort	+0.0138%	4h	65.410	+0.099%	$2.7M	$1.1M	100x
Nado XAG-PERP	+0.0180%	1h	65.358	+0.019%	$1.2M	$3.8M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0188%	4h	65.336	−0.015%	$394K	$1.6M	25x	as long as short
Lighter XAG	+0.0192%	1h	65.398	+0.082%	$5.1M	$11.7M	25x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.410	+0.100%	$1.2M	$4.9M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.350	+0.008%	$77K	$411K	20x	as long as short
Bybit XAGUSDT	+0.0210%	4h	65.410	+0.099%	$30.5M	$46.8M	150x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	65.400	+0.084%	$27.9M	$82.4M	50x	as long as short
Aftermath Perps XAGUSD	+0.0217%	1h	65.319	−0.040%	$78K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	65.410	+0.099%	$23.1M	$50.4M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0263% / S −0.0229%	1h	65.405	+0.092%	$93K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0264%	1h	65.333	−0.019%	$21K	$12K	10x	as long as short
Bullet SILVER-USD	+0.0276%	1h	65.411	+0.102%	$44K	$74K	10x	as long as short
BloFin XAG-USDT	+0.0371%	4h	65.350	+0.008%	$2.7M	$753K	100x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0775%	1h	65.345	long leg	$1.0M	$937K	25x