XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0662%/8h= −72.4% APRnext payment −$0.83 per $10,000 · paid last 24h −0.092%

Price spread now: Phoenix against Kraken Futures−0.420%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 7 days−0.099%−$10 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and Phoenix is 0.420% cheaper against Kraken Futures than usual: you would sell low and buy high (−$42 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.099% in total (about -5.1% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.83 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_XAGUSD	65.682	0.0771	pay 0.0096% / 1h	4m 42s	$1.0M	$939K	25x
Short	Phoenix SILVER	65.406	0.0110	get 0.0014% / 1h	4m 42s	$55K	$13K	25x

Funding 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 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 PhoenixbpOrdersPrice spread, now −0.420%Rate

Funding earned: −$138.94
Price spread: −0.420% → 0.000%: −$41.96
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: −$197.89
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 2 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, 2 min ago	3.43 bp	10.0 bp −$10	18.3 bp −$183	122.1 bp −$12.2K	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 exchanges

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
Hotstuff SILVER-PERP	−0.4840%	1h	65.692	+0.016%	$36K	$23K	20x	as long as short
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.644%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0005%	1h	65.600	−0.124%	$5.7M	$10.6M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.672	−0.015%	$12K	$7K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.700	+0.028%	$139.1M	$202.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.660	−0.033%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.740	+0.089%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.640	−0.063%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.611	−0.107%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.702	+0.031%	$4.6M	$9.8M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.605	−0.117%	$5.1M	$11.8M	10x	as long as short
StandX XAG-USD	+0.0040%	1h	65.510	−0.261%	$788K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.103	+0.642%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.684	+0.004%	$3.8M	$894K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.591	−0.138%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.620	−0.094%	$77K	$411K	20x	as long as short
Paradex XAG-USD-PERP	+0.0058%	8h	65.694	+0.019%	$29K	$166	5x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.680	−0.002%	$446K	$1.4M	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.650	−0.048%	$1.6M	$1.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0097%	24h	65.693	+0.017%	$715K	$38.0M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.687	+0.009%	$468K	$572K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.680	−0.002%	$25.4M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.500	−0.276%	$112K	$19K	50x	as long as short
Variational Omni XAG	+0.0104%	4h	65.650	−0.049%	$5.7M	$9.2M	—	as long as short
Phoenix SILVERshort	+0.0110%	1h	65.406	−0.420%	$55K	$13K	25x
tradeXYZ xyz:SILVER	+0.0120%	1h	65.709	+0.042%	$174.9M	$93.5M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.657	−0.037%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0130%	4h	65.700	+0.028%	$121.3M	$169.0M	1000x	as long as short
Binance XAGUSDT	+0.0133%	4h	65.720	+0.059%	$193.6M	$851.2M	100x	as long as short
Aster XAGUSDT	+0.0133%	4h	65.724	+0.065%	$2.7M	$1.1M	100x	as long as short
edgeX XAGUSDC	+0.0143%	4h	65.456	−0.343%	$667K	$314K	30x	as long as short
Nado XAG-PERP	+0.0172%	1h	65.655	−0.041%	$1.2M	$3.7M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0182%	4h	65.613	−0.105%	$396K	$1.5M	25x	as long as short
Bybit XAGUSDT	+0.0192%	4h	65.720	+0.059%	$30.6M	$47.2M	150x	as long as short
Lighter XAG	+0.0192%	1h	65.715	+0.050%	$5.1M	$11.9M	25x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.710	+0.043%	$1.2M	$4.9M	20x	as long as short
Aftermath Perps XAGUSD	+0.0215%	1h	65.478	−0.310%	$79K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	65.700	+0.028%	$28.1M	$84.2M	50x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	65.512	−0.259%	$21K	$12K	10x	as long as short
Bitget XAGUSDT	+0.0254%	4h	65.740	+0.089%	$23.2M	$51.7M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0266% / S −0.0232%	1h	65.635	−0.071%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0277%	1h	65.728	+0.071%	$44K	$74K	10x	as long as short
BloFin XAG-USDT	+0.0372%	4h	65.700	+0.028%	$2.7M	$762K	100x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0771%	1h	65.682	long leg	$1.0M	$939K	25x