XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0338%/8h= −37.0% APRnext payment −$0.42 per $10,000 · paid last 24h −0.030%

Price spread now: Nado against Kraken Futures−0.002%7-day average +0.037% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Kraken Futures Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.083%+$8 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now −0.002%, 7d avg +0.037%

Together, before fees−0.005%+ Points / potential airdropNado: Active · farm board−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$10 a day on $10k at the current rate, and Nado is 0.039% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.037%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.083%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.083% in total (about 9.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.42 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	66.335	0.0549	pay 0.0069% / 1h	24m 19s	$915K	$671K	25x
Short	Nado XAG-PERP	66.333	0.0211	get 0.0026% / 1h	24m 19s	$1.3M	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.002%Rate

Funding earned: −$71
Price spread: −0.002% → +0.037%: −$3.94
Slippage, 4 orders: −$9.1
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$101.04
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 39 min ago; Nado: live order book, 5 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, 39 min ago	2.64 bp	8.5 bp −$9	14.1 bp −$141	doesn't fit	doesn't fit
Sell Nado live order book, 5 min ago	0.30 bp	4.5 bp −$4	8.4 bp −$84	35.9 bp −$3,586	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	66.272	−0.095%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.341	+0.009%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.380	+0.068%	$150.3M	$164.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.380	+0.068%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.380	+0.068%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.360	+0.038%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.299	−0.055%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.333	−0.003%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.299	−0.055%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.098%	$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
StandX XAG-USD	+0.0040%	1h	66.310	−0.038%	$798K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.810	+0.716%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.352	+0.026%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.282	−0.080%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.260	−0.113%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.370	+0.053%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0065%	24h	66.335	0.000%	$536K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.308	−0.041%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.332	−0.005%	$166.1M	$73.4M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.323	−0.018%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.310	−0.038%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.280	−0.083%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.366	+0.047%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.386	+0.077%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0154%	4h	66.370	+0.053%	$26.9M	$36.1M	150x	as long as short
BloFin XAG-USDT	+0.0175%	4h	66.340	+0.007%	$2.6M	$553K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.356	+0.031%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.390	+0.083%	$1.3M	$4.5M	20x	as long as short
Variational Omni XAG	+0.0184%	4h	66.321	−0.021%	$5.6M	$9.8M	—	as long as short
Lighter XAG	+0.0192%	1h	66.340	+0.007%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.023%	$1.9M	$995K	20x	as long as short
MEXC SILVER_USDT	+0.0196%	4h	66.360	+0.038%	$105.5M	$153.6M	1000x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.360	+0.038%	$192.2M	$705.3M	100x	as long as short
edgeX XAGUSDC	+0.0204%	4h	66.323	−0.018%	$673K	$313K	30x	as long as short
Nado XAG-PERPshort	+0.0211%	1h	66.333	−0.002%	$1.3M	$6.6M	10x
OKX XAG-USDT-SWAP	+0.0217%	8h	66.360	+0.038%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0232%	1h	66.282	−0.079%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.360	+0.038%	$23.8M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.347	+0.018%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.098%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0279%	1h	66.377	+0.064%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0351% / S −0.0373%	1h	66.375	+0.060%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.340	+0.007%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0549%	1h	66.335	long leg	$915K	$671K	25x