Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0266%/8h= −29.1% APRpaid last 24h −0.051%

Price spread now: edgeX against Kraken Futures+0.102%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.124%−$12 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.102%, 7d avg +0.067%

Together, before fees−0.224%+ Points / potential airdropedgeX: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.035% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.102% now, against its 7-day average of +0.067%): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 11 hours. At the pace of the last 7 days (−0.124% in total) that is about 48 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.124% in total (about -6.4% 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	Kraken Futures PF_XAGUSD	66.067	0.0485	pay 0.0061% / 1h	34m 36s	$911K	$676K	25x
Short	edgeX XAGUSDC	66.135	0.0220	get 0.0110% / 4h	34m 36s	$671K	$311K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Kraken Futures. 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 Kraken FuturesbpFee edgeXbpOrdersPrice spread, now +0.102%Rate

Funding earned: −$55.76
Price spread: +0.102% → +0.067%: $3.51
Slippage, 4 orders: −$12.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$83.84
Costs to cover: 0.316%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 24 min ago; edgeX: live order book, 24 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, 24 min ago	2.47 bp	9.7 bp −$10	14.3 bp −$143	doesn't fit	doesn't fit
Sell edgeX live order book, 24 min ago	2.27 bp	6.8 bp −$7	6.8 bp −$68	9.2 bp −$918	20.9 bp −$10.4K

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	66.022	−0.068%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.140	+0.110%	$150.1M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.110	+0.065%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.140	+0.110%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.120	+0.080%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.040	−0.042%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.094	+0.040%	$4.7M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.051	−0.025%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.504%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.130	+0.095%	$795K	$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	66.532	+0.703%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.065	−0.004%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.041	−0.040%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.010	−0.087%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.120	+0.080%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.050	−0.026%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0069%	24h	66.065	−0.004%	$518K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.068	+0.001%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.080	+0.019%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.070	+0.004%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	66.074	+0.010%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0133%	1h	66.079	+0.018%	$165.4M	$74.0M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.124	+0.086%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.100	+0.049%	$2.7M	$876K	100x	as long as short
Paradex XAG-USD-PERP	+0.0151%	8h	66.120	+0.079%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0159%	4h	66.140	+0.110%	$27.0M	$36.2M	150x	as long as short
Nado XAG-PERP	+0.0194%	1h	66.038	−0.045%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.109	+0.064%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.103	+0.054%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	+0.095%	$1.8M	$999K	20x	as long as short
BloFin XAG-USDT	+0.0201%	4h	66.110	+0.065%	$2.6M	$554K	100x	as long as short
Variational Omni XAG	+0.0210%	4h	66.123	+0.085%	$5.6M	$9.7M	—	as long as short
MEXC SILVER_USDT	+0.0216%	4h	66.110	+0.065%	$109.2M	$152.5M	1000x	as long as short
Binance XAGUSDT	+0.0216%	4h	66.120	+0.079%	$192.8M	$701.1M	100x	as long as short
edgeX XAGUSDCshort	+0.0220%	4h	66.135	+0.102%	$671K	$311K	30x
Aftermath Perps XAGUSD	+0.0230%	1h	66.074	+0.010%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.130	+0.095%	$27.8M	$65.5M	50x	as long as short
Bitget XAGUSDT	+0.0260%	4h	66.120	+0.080%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0286%	4h	66.160	+0.140%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	66.109	+0.064%	$45K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.090	+0.034%	$62K	$348K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0375% / S −0.0409%	1h	66.115	+0.072%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.080	+0.019%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0485%	1h	66.067	long leg	$911K	$676K	25x