Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0549%/8h= −60.1% APRpaid last 24h −0.084%

Price spread now: SunX against Kraken Futures+0.025%7-day average +0.087% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$90as in the Price arb table

costs, in and out, $10k−$840.838% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now +0.025%, 7d avg +0.087%

Together, before fees−0.120%−$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and SunX is 0.062% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.087%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.203% in total (about -10.6% 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	Kraken Futures PF_XAGUSD	66.333	0.0549	pay 0.0069% / 1h	25m 12s	$915K	$671K	25x
Short	SunX XAG-USDT	66.350	0	get 0.0000% / 4h	1h 25m	$2K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$115.27
Price spread: +0.025% → +0.087%: −$6.21
Slippage, 4 orders: −$65.84
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$205.32
Costs to cover: 0.838%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 38 min ago; SunX: live order book, 2 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, 38 min ago	2.64 bp	8.5 bp −$9	14.1 bp −$141	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	29.40 bp	33.4 bp −$33	63.1 bp −$631	doesn't fit	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	−0.092%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.370	+0.055%	$150.4M	$164.2M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.350	+0.025%	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.390	+0.086%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.390	+0.086%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.296	−0.057%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.358	+0.037%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.297	−0.055%	$5.2M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.101%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.270	−0.095%	$797K	$2.9M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.793	+0.693%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.331	−0.003%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.296	−0.056%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.270	−0.095%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.340	+0.010%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0065%	24h	66.311	−0.033%	$536K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.308	−0.038%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.330	−0.005%	$166.1M	$74.3M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.294	−0.059%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.310	−0.035%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.280	−0.080%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	66.301	−0.049%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.341	+0.011%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.369	+0.053%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0158%	4h	66.390	+0.086%	$26.9M	$36.1M	150x	as long as short
BloFin XAG-USDT	+0.0175%	4h	66.340	+0.010%	$2.6M	$553K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.359	+0.039%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.370	+0.055%	$1.3M	$4.5M	20x	as long as short
Variational Omni XAG	+0.0184%	4h	66.321	−0.018%	$5.6M	$9.8M	—	as long as short
Lighter XAG	+0.0192%	1h	66.367	+0.051%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.025%	$1.9M	$988K	20x	as long as short
MEXC SILVER_USDT	+0.0194%	4h	66.360	+0.040%	$103.4M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.377	+0.066%	$192.3M	$705.3M	100x	as long as short
edgeX XAGUSDC	+0.0204%	4h	66.323	−0.015%	$673K	$313K	30x	as long as short
Nado XAG-PERP	+0.0211%	1h	66.300	−0.050%	$1.3M	$6.6M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.370	+0.055%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.277	−0.085%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.370	+0.055%	$23.8M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.347	+0.021%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.095%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.363	+0.045%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0351% / S −0.0372%	1h	66.365	+0.048%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	+0.025%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSDlong	+0.0549%	1h	66.333	long leg	$915K	$671K	25x