Funding you earn now, next payment 03:00 UTC−0.0425%/8h= −46.5% APRnext payment −$0.53 per $10,000 · paid last 24h −0.073%
Price spread now: Phoenix against Kraken Futures+0.012%71s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.073%−$7 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$13 a day on $10k at the current rate. The two prices were read 71 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 -0.073% in total (about -3.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.53 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 | Kraken Futures PF_XAGUSD | 66.045 | 0.0485 | pay 0.0061% / 1h | 8m 07s | $911K | $683K | 25x |
| Short | Phoenix SILVER | 66.053 | 0.0060 | get 0.0008% / 1h | 8m 07s | $56K | $26K | 25x |
Kraken Futures PF_XAGUSD
Phoenix SILVERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$89.21
- Price spread: +0.012% → 0.000%
- $1.19
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$105.03
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 50 min ago; Phoenix: no order-book sample. Net counts fees only.
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, 50 min ago | 2.47 bp | 9.7 bp −$10 | 14.3 bp −$143 | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 66.018 | −0.041% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.090 | +0.068% | $150.1M | $163.9M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.060 | +0.022% | $2K | $2.7M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.130 | +0.128% | $1.0M | $968K | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.130 | +0.128% | $1.5M | $317K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.993 | −0.079% | $120K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.058 | +0.019% | $4.8M | $9.6M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 65.994 | −0.077% | $5.2M | $11.5M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +0.537% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.110 | +0.098% | $795K | $3.1M | 40x | as long as short |
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USDShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Ondo Perps XAG-USD.P | +0.0043% | 1h | 65.970 | −0.114% | $5.7M | $9.6M | 25x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.500 | +0.689% | — | — | 25x | as long as short |
| Hotstuff SILVER-PERP | +0.0048% | 1h | 66.057 | +0.018% | $35K | $21K | 20x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.034 | −0.017% | $3.9M | $672K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.996 | −0.074% | $3K | $6K | 20x | as long as short |
| QFEX SILVER-USD | +0.0054% | 1h | 66.070 | +0.038% | $115K | $2.7M | 20x | as long as short |
| Phoenix SILVERshort | +0.0060% | 1h | 66.053 | +0.012% | $56K | $26K | 25x | |
| Kalshi KXSILVERPERP | +0.0071% | 24h | 66.040 | −0.008% | $547K | $25.4M | 8.1x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.034 | −0.017% | $470K | $615K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.050 | +0.007% | $24.5M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.030 | −0.023% | $113K | $30K | 50x | as long as short |
| tradeXYZ xyz:SILVER | +0.0127% | 1h | 66.037 | −0.012% | $165.9M | $73.5M | 25x | as long as short |
| RISEx XAG/USDC | +0.0137% | 1h | 66.067 | +0.033% | $1.3M | $4.6M | 20x | as long as short |
| Paradex XAG-USD-PERP | +0.0143% | 8h | 66.083 | +0.058% | $30K | $1K | 5x | as long as short |
| Aster XAGUSDT | +0.0148% | 4h | 66.072 | +0.041% | $2.7M | $868K | 100x | as long as short |
| Bybit XAGUSDT | +0.0172% | 4h | 66.090 | +0.068% | $27.1M | $36.1M | 150x | as long as short |
| Lighter XAG | +0.0184% | 1h | 66.060 | +0.022% | $5.3M | $10.8M | 25x | as long as short |
| Aevo XAG-PERP | +0.0200% | 1h | 66.075 | +0.045% | $47K | — | 10x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0200% | 1h | 66.020 | −0.038% | $1.8M | $1.0M | 20x | as long as short |
| Variational Omni XAG | +0.0204% | 4h | 66.063 | +0.027% | $5.6M | $9.5M | — | as long as short |
| MEXC SILVER_USDT | +0.0214% | 4h | 66.070 | +0.038% | $110.6M | $153.0M | 1000x | as long as short |
| Nado XAG-PERP | +0.0214% | 1h | 66.025 | −0.031% | $1.4M | $6.4M | 10x | as long as short |
| Binance XAGUSDT | +0.0216% | 4h | 66.084 | +0.059% | $192.7M | $700.1M | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0221% | 1h | 66.069 | +0.036% | $80K | $36K | 10x | as long as short |
| edgeX XAGUSDC | +0.0227% | 4h | 66.058 | +0.019% | $670K | $311K | 30x | as long as short |
| OKX XAG-USDT-SWAP | +0.0235% | 8h | 66.080 | +0.053% | $27.7M | $65.0M | 50x | as long as short |
| Bitget XAGUSDT | +0.0258% | 4h | 66.070 | +0.038% | $23.8M | $45.4M | 100x | as long as short |
| BloFin XAG-USDT | +0.0264% | 4h | 66.120 | +0.113% | $2.6M | $554K | 100x | as long as short |
| GRVT XAG_USDT_Perp | +0.0276% | 4h | 66.090 | +0.068% | $389K | $1.5M | 25x | as long as short |
| Bullet SILVER-USD | +0.0290% | 1h | 66.081 | +0.054% | $44K | $76K | 10x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0356% | 1h | 66.050 | +0.007% | $75K | $362K | 20x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0383% / S −0.0424% | 1h | 66.075 | +0.045% | $103K | — | 111x | as long as short |
| Hibachi XAG/USDT-P | +0.0384% | 1h | 66.054 | +0.013% | $20K | $19K | 10x | as long as short |
| Kraken Futures PF_XAGUSDlong | +0.0485% | 1h | 66.045 | long leg | $911K | $683K | 25x |
Ondo Perps XAG-USD.P
Vest SI-PERP
Hotstuff SILVER-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
QFEX SILVER-USD
Kalshi KXSILVERPERP
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
tradeXYZ xyz:SILVER
RISEx XAG/USDC
Paradex XAG-USD-PERP
Aster XAGUSDT
Bybit XAGUSDT
Lighter XAG
Aevo XAG-PERP
Coinbase International SILVER-PERP-INTX
Variational Omni XAG
MEXC SILVER_USDT
Nado XAG-PERP
Binance XAGUSDT
Aftermath Perps XAGUSD
edgeX XAGUSDC
OKX XAG-USDT-SWAP
Bitget XAGUSDT
BloFin XAG-USDT
GRVT XAG_USDT_Perp
Bullet SILVER-USD
Deribit SILVER_USDC-PERPETUAL
GMX SILVER/USD [ETH-USDC]
Hibachi XAG/USDT-P