XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0574%/8h= −62.8% APRnext payment −$0.72 per $10,000 · paid last 24h −0.073%

Price spread now: Polymarket Perps against Kraken Futures−0.018%48s7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as 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−$300.305% of the position

Long on Kraken Futures Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.018%, 7d avg +0.015%

Together, before fees−0.084%−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$17 a day on $10k at the current rate, and Polymarket Perps is 0.033% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.015%). Swap the legs. The two prices were read 48 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 -0.111% in total (about -5.8% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.72 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	66.039	0.0624	pay 0.0078% / 1h	5m 33s	$911K	$685K	25x
Short	Polymarket Perps SILVER-USD	66.027	0.0050	get 0.0006% / 1h	5m 33s	$3.9M	$676K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$120.44
Price spread: −0.018% → +0.015%: −$3.28
Slippage, 4 orders: −$12.5
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$154.22
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 48 min ago; Polymarket Perps: live order book, 3 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, 48 min ago	2.87 bp	10.5 bp −$10	15.6 bp −$156	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	0.76 bp	5.2 bp −$5	5.6 bp −$56	6.9 bp −$691	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
Ondo Perps XAG-USD.P	−0.0051%	1h	65.950	−0.135%	$5.7M	$9.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.077%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.080	+0.062%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.100	+0.092%	$1.0M	$980K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.060	+0.032%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.999	−0.061%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.049	+0.016%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.995	−0.066%	$5.2M	$11.5M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.027	−0.018%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.547%	$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	66.060	+0.032%	$795K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.477	+0.663%	—	—	25x	as long as short
Gate XAG_USDT	+0.0046%	4h	66.070	+0.047%	$149.8M	$164.4M	100x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	66.027	−0.018%	$3.9M	$676K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.994	−0.068%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	66.044	+0.008%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.050	+0.017%	$114K	$2.7M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0060%	1h	66.025	−0.021%	$166.3M	$73.8M	25x	as long as short
Phoenix SILVER	+0.0073%	1h	65.995	−0.067%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0074%	24h	66.020	−0.029%	$479K	$26.6M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.062	+0.035%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.997	−0.064%	$469K	$604K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.030	−0.014%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.990	−0.074%	$113K	$30K	50x	as long as short
Bybit XAGUSDT	+0.0108%	4h	66.080	+0.062%	$27.8M	$36.5M	150x	as long as short
Lighter XAG	+0.0120%	1h	66.052	+0.019%	$5.2M	$10.9M	25x	as long as short
Aster XAGUSDT	+0.0121%	4h	66.050	+0.017%	$2.7M	$866K	100x	as long as short
Variational Omni XAG	+0.0164%	4h	66.053	+0.022%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.046	+0.010%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0174%	4h	66.060	+0.032%	$114.5M	$152.8M	1000x	as long as short
Binance XAGUSDT	+0.0175%	4h	66.062	+0.035%	$191.0M	$703.1M	100x	as long as short
edgeX XAGUSDC	+0.0182%	4h	66.013	−0.040%	$670K	$311K	30x	as long as short
Nado XAG-PERP	+0.0186%	1h	66.012	−0.041%	$1.4M	$5.8M	10x	as long as short
Aftermath Perps XAGUSD	+0.0198%	1h	66.022	−0.025%	$79K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	66.030	−0.014%	$75K	$363K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0208%	4h	66.053	+0.021%	$394K	$1.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.980	−0.089%	$1.8M	$1.0M	20x	as long as short
BloFin XAG-USDT	+0.0224%	4h	66.030	−0.014%	$2.6M	$569K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0224%	8h	66.070	+0.047%	$27.8M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0228%	4h	66.060	+0.032%	$24.0M	$44.9M	100x	as long as short
Bullet SILVER-USD	+0.0237%	1h	66.064	+0.038%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0304%	1h	66.010	−0.044%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.065	+0.039%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0624%	1h	66.039	long leg	$911K	$685K	25x