Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0463%/8h= +50.6% APRpaid last 24h +0.085%

Price spread now: Kraken Futures against SunX−0.021%58s7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$64as 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−$840.840% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 3 days (all we have)−0.084%−$8 · spread now −0.021%, 7d avg −0.088%

Together, before fees+0.120%+$12 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Kraken Futures is 0.066% dearer against SunX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of −0.088%. The two prices were read 58 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 0.204% in total (about 10.7% 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	SunX XAG-USDT	66.360	0	get 0.0000% / 4h	2h 37m	$2K	$2.8M	20x
Short	Kraken Futures PF_XAGUSD	66.346	0.0463	get 0.0058% / 1h	37m 21s	$765K	$472K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.021%Rate

Funding earned: $97.13
Price spread: −0.021% → −0.088%: $6.64
Slippage, 4 orders: −$66.04
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $19.73
Costs to cover: 0.840%
Break-even: 5.6 days

Slippage from SunX: live order book, 10 min ago; Kraken Futures: live order book, 31 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 SunX live order book, 10 min ago	29.29 bp	33.3 bp −$33	62.4 bp −$624	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 31 min ago	2.75 bp	8.6 bp −$9	16.6 bp −$166	52.0 bp −$5,197	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	−0.099%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.340	−0.030%	$153.3M	$162.2M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.360	long leg	$2K	$2.8M	20x
HTX XAG-USDT	0.0000%	4h	66.550	+0.286%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.400	+0.060%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.278	−0.123%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.366	+0.008%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.310	−0.075%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.060%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.420	+0.090%	$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	+0.678%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	+0.080%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.314	−0.069%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.303	−0.086%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.280	−0.121%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.360	0.000%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.361	+0.002%	$577K	$23.1M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.375	+0.022%	$1.2M	$4.3M	20x	as long as short
Bybit XAGUSDT	+0.0080%	4h	66.360	0.000%	$26.4M	$35.9M	150x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.307	−0.080%	$165.5M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.328	−0.048%	$472K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.470	+0.166%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.316%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0118%	4h	66.360	0.000%	$2.7M	$967K	100x	as long as short
Paradex XAG-USD-PERP	+0.0123%	8h	66.372	+0.019%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	+0.218%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.333	−0.040%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0152%	4h	66.340	−0.030%	$102.1M	$158.1M	1000x	as long as short
Binance XAGUSDT	+0.0153%	4h	66.340	−0.030%	$192.5M	$708.1M	100x	as long as short
Lighter XAG	+0.0160%	1h	66.377	+0.025%	$5.3M	$10.5M	25x	as long as short
edgeX XAGUSDC	+0.0166%	4h	66.514	+0.231%	$675K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.241%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.360	0.000%	$27.9M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.427	+0.102%	$80K	$38K	10x	as long as short
Hotstuff SILVER-PERP	+0.0224%	1h	66.368	+0.012%	$35K	$21K	20x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.340	−0.030%	$24.2M	$46.1M	100x	as long as short
Nado XAG-PERP	+0.0229%	1h	66.324	−0.054%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0242%	4h	66.526	+0.249%	$391K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.473	+0.170%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.353	−0.010%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.345	−0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	−0.015%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSDshort	+0.0463%	1h	66.346	−0.021%	$765K	$472K	25x