Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0492%/8h= +53.8% APRpaid last 24h +0.061%

Price spread now: Kraken Futures against Variational Omni−0.041%7-day average −0.071% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.052%−$5 on $10k

Price spread, last 3 days (all we have)−0.032%−$3 · spread now −0.041%, 7d avg −0.071%

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

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Kraken Futures is 0.030% dearer against Variational Omni than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.071%. Mind the row above: over the last 3 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.052% in total (about -5.7% 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	Variational Omni XAG	66.615	0.0103	pay 0.0051% / 4h	12m 37s	$5.6M	$10.1M	—
Short	Kraken Futures PF_XAGUSD	66.588	0.0595	get 0.0074% / 1h	12m 37s	$764K	$588K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now −0.041%Rate

Funding earned: $103.26
Price spread: −0.041% → −0.071%: $2.96
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $96.22
Costs to cover: 0.100%
Break-even: 0.5 days

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Kraken Futures: live order book, 66 min ago. 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 Variational Omni RFQ quote, 2 min ago	2.57 bp	doesn't fit	3.0 bp −$30	6.5 bp −$647	doesn't fit
Sell Kraken Futures live order book, 66 min ago	2.83 bp	8.2 bp −$8	16.6 bp −$166	69.8 bp −$6,985	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	66.560	−0.083%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.630	+0.022%	$26.5M	$34.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.620	+0.007%	$156.0M	$174.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.630	+0.022%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.660	+0.067%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.620	+0.007%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.556	−0.090%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.588	−0.042%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.541	−0.112%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.323%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phoenix SILVER	+0.0036%	1h	66.596	−0.029%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.570	−0.068%	$797K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.065	+0.675%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.594	−0.032%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.550	−0.098%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.510	−0.158%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.584	−0.047%	$581K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.590	−0.038%	$124K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0071%	1h	66.574	−0.062%	$166.0M	$87.0M	25x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	66.584	−0.047%	$35K	$21K	20x	as long as short
BloFin XAG-USDT	+0.0089%	4h	66.600	−0.023%	$2.6M	$652K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.548	−0.101%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.560	−0.083%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.590	−0.038%	$127K	$26K	50x	as long as short
Variational Omni XAGlong	+0.0103%	4h	66.615	long leg	$5.6M	$10.1M	—
Paradex XAG-USD-PERP	+0.0106%	8h	66.595	−0.030%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.606	−0.015%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.591	−0.037%	$5.2M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.612	−0.005%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.600	−0.023%	$115.5M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0123%	4h	66.610	−0.008%	$191.8M	$723.1M	100x	as long as short
edgeX XAGUSDC	+0.0130%	4h	66.608	−0.011%	$676K	$316K	30x	as long as short
Bitget XAGUSDT	+0.0158%	4h	66.620	+0.007%	$24.4M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.610	−0.008%	$1.9M	$851K	20x	as long as short
Aftermath Perps XAGUSD	+0.0171%	1h	66.556	−0.090%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.634	+0.029%	$401K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0198%	8h	66.620	+0.007%	$28.0M	$66.8M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.611	−0.006%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0250%	1h	66.629	+0.021%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0255%	1h	66.552	−0.096%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.571	−0.066%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.625	+0.015%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.600	−0.023%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSDshort	+0.0595%	1h	66.588	−0.041%	$764K	$588K	25x