Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0774%/8h= +84.8% APRpaid last 24h +0.102%

Price spread now: Kraken Futures against SunX−0.054%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$850.850% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$22 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now −0.054%, 7d avg −0.084%

Together, before fees+0.162%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Kraken Futures is 0.030% dearer against SunX than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.084%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.225% in total (about 11.7% a year). A funding rate is set anew for every payment. 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	SunX XAG-USDT	65.480	0	get 0.0000% / 4h	2h 08m	$2K	$2.4M	20x
Short	Kraken Futures PF_XAGUSD	65.444	0.0774	get 0.0097% / 1h	8m 49s	$1.0M	$937K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now −0.054%Rate

Funding earned: $162.57
Price spread: −0.054% → −0.084%: $3
Slippage, 4 orders: −$66.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $80.62
Costs to cover: 0.850%
Break-even: 3.5 days

Slippage from SunX: live order book, 2 min ago; Kraken Futures: 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 SunX live order book, 2 min ago	29.81 bp	33.8 bp −$34	62.5 bp −$625	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	3.33 bp	8.7 bp −$9	14.9 bp −$149	168.6 bp −$16.9K	doesn't fit

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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.341%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0009%	1h	65.340	−0.214%	$5.7M	$10.5M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.390	−0.137%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.470	−0.015%	$139.3M	$200.7M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	65.480	long leg	$2K	$2.4M	20x
HTX XAG-USDT	0.0000%	4h	65.510	+0.046%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.470	−0.015%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.409	−0.108%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.469	−0.016%	$4.5M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.398	−0.126%	$5.1M	$11.6M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0040%	1h	65.416	−0.098%	$36K	$23K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	65.390	−0.137%	$787K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.890	+0.626%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.443	−0.057%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.407	−0.111%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	65.435	−0.069%	$29K	$166	5x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.450	−0.046%	$444K	$1.4M	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.390	−0.137%	$1.6M	$1.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0097%	24h	65.448	−0.049%	$625K	$37.3M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	65.394	−0.131%	$465K	$572K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.430	−0.076%	$25.2M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.400	−0.122%	$112K	$19K	50x	as long as short
Variational Omni XAG	+0.0101%	4h	65.440	−0.061%	$5.7M	$9.2M	—	as long as short
Phoenix SILVER	+0.0110%	1h	65.406	−0.113%	$55K	$13K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0119%	1h	65.433	−0.072%	$174.3M	$92.7M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.461	−0.028%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0130%	4h	65.450	−0.046%	$120.6M	$167.3M	1000x	as long as short
Binance XAGUSDT	+0.0130%	4h	65.466	−0.022%	$193.0M	$836.8M	100x	as long as short
edgeX XAGUSDC	+0.0132%	4h	65.468	−0.019%	$667K	$313K	30x	as long as short
Aster XAGUSDT	+0.0135%	4h	65.428	−0.079%	$2.7M	$1.1M	100x	as long as short
Nado XAG-PERP	+0.0176%	1h	65.418	−0.094%	$1.2M	$3.7M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0184%	4h	65.455	−0.039%	$395K	$1.6M	25x	as long as short
Lighter XAG	+0.0192%	1h	65.462	−0.027%	$5.1M	$11.7M	25x	as long as short
Bybit XAGUSDT	+0.0200%	4h	65.480	0.000%	$30.5M	$46.8M	150x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.483	+0.005%	$1.2M	$4.9M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.450	−0.046%	$77K	$411K	20x	as long as short
Aftermath Perps XAGUSD	+0.0212%	1h	65.382	−0.150%	$79K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	65.460	−0.031%	$28.0M	$82.6M	50x	as long as short
Bitget XAGUSDT	+0.0248%	4h	65.460	−0.031%	$23.1M	$50.4M	100x	as long as short
Hibachi XAG/USDT-P	+0.0248%	1h	65.376	−0.159%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0265% / S −0.0231%	1h	65.475	−0.008%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0275%	1h	65.483	+0.004%	$44K	$74K	10x	as long as short
BloFin XAG-USDT	+0.0370%	4h	65.440	−0.061%	$2.7M	$758K	100x	as long as short
Kraken Futures PF_XAGUSDshort	+0.0774%	1h	65.444	−0.054%	$1.0M	$937K	25x