XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0431%/8h= −47.2% APRnext payment −$0.54 per $10,000 · paid last 24h −0.072%

Price spread now: QFEX against Kraken Futures+0.038%7-day average +0.058% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Kraken Futures Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.012%+$1 on $10k

Price spread, last 4 days (all we have)−0.026%−$3 · spread now +0.038%, 7d avg +0.058%

Together, before fees−0.014%−$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and QFEX is 0.021% cheaper against Kraken Futures than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.058%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.012% in total (about 1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 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	66.045	0.0485	pay 0.0061% / 1h	8m 07s	$911K	$683K	25x
Short	QFEX SILVER-USD	66.070	0.0054	get 0.0007% / 1h	8m 07s	$115K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$90.52
Price spread: +0.038% → +0.058%: −$2.08
Slippage, 4 orders: −$12.6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$125.21
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 50 min ago; QFEX: 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, 50 min ago	2.47 bp	9.7 bp −$10	14.3 bp −$143	doesn't fit	doesn't fit
Sell QFEX live order book, 5 min ago	2.27 bp	7.3 bp −$7	7.3 bp −$73	9.3 bp −$926	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	66.018	−0.041%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.090	+0.068%	$150.1M	$163.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.060	+0.022%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.128%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.130	+0.128%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.993	−0.079%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.058	+0.019%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.994	−0.077%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.537%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.110	+0.098%	$795K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0043%	1h	65.970	−0.114%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.500	+0.689%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.057	+0.018%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.034	−0.017%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.996	−0.074%	$3K	$6K	20x	as long as short
QFEX SILVER-USDshort	+0.0054%	1h	66.070	+0.038%	$115K	$2.7M	20x
Phoenix SILVER	+0.0060%	1h	66.053	+0.012%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0071%	24h	66.040	−0.008%	$547K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.034	−0.017%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.050	+0.007%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.030	−0.023%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0127%	1h	66.037	−0.012%	$165.9M	$73.5M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.067	+0.033%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0143%	8h	66.083	+0.058%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0148%	4h	66.072	+0.041%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0172%	4h	66.090	+0.068%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.060	+0.022%	$5.3M	$10.8M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.075	+0.045%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.038%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	+0.027%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0214%	4h	66.070	+0.038%	$110.6M	$153.0M	1000x	as long as short
Nado XAG-PERP	+0.0214%	1h	66.025	−0.031%	$1.4M	$6.4M	10x	as long as short
Binance XAGUSDT	+0.0216%	4h	66.084	+0.059%	$192.7M	$700.1M	100x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	+0.036%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0227%	4h	66.058	+0.019%	$670K	$311K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0235%	8h	66.080	+0.053%	$27.7M	$65.0M	50x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.070	+0.038%	$23.8M	$45.4M	100x	as long as short
BloFin XAG-USDT	+0.0264%	4h	66.120	+0.113%	$2.6M	$554K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0276%	4h	66.090	+0.068%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0290%	1h	66.081	+0.054%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.050	+0.007%	$75K	$362K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.075	+0.045%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0384%	1h	66.054	+0.013%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0485%	1h	66.045	long leg	$911K	$683K	25x