Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.030%

Price spread now: Kalshi against ApeX Omni−0.046%7-day average −0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$560.562% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)−0.004%$0 · spread now −0.046%, 7d avg −0.083%

Together, before fees−0.214%−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.037% dearer against ApeX Omni than usual: you sell high and buy low (spread −0.046% now, against its 7-day average of −0.083%): +$4 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 5.0 days. At the pace of the last 7 days (−0.210% in total) that is about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAGUSDT	65.390	0.0100	pay 0.0013% / 1h	26m 13s	$112K	$30K	50x
Short	Kalshi KXSILVERPERP	65.360	0.0075	get 0.0226% / 24h	8h 26m	$522K	$28.0M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now −0.046%Rate

Funding earned: −$5.2
Price spread: −0.046% → −0.083%: $3.68
Slippage, 4 orders: −$36.2
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$57.73
Costs to cover: 0.562%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 19 min ago; Kalshi: 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 ApeX Omni live order book, 19 min ago	6.05 bp	28.2 bp −$28	63.1 bp −$631	doesn't fit	doesn't fit
Sell Kalshi live order book, 3 min ago	0.54 bp	6.8 bp −$7	7.4 bp −$74	25.0 bp −$2,498	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	−0.0027%	1h	65.290	−0.153%	$5.6M	$9.4M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.334	−0.086%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.440	+0.076%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.400	+0.015%	$1.5M	$266K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.339	−0.079%	$118K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.440	+0.076%	$1.3M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.419	+0.044%	$4.7M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.348	−0.064%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.545%	$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
Gate XAG_USDT	+0.0036%	4h	65.420	+0.046%	$142.5M	$170.8M	100x	as long as short
Phoenix SILVER	+0.0036%	1h	65.675	+0.436%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.350	−0.061%	$786K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.839	+0.687%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.400	+0.015%	$3.9M	$710K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.332	−0.089%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.410	+0.031%	$154K	$2.8M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.356	−0.052%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0059%	8h	65.393	+0.005%	$29K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0061%	1h	65.387	−0.005%	$166.0M	$78.8M	25x	as long as short
Kalshi KXSILVERPERPshort	+0.0075%	24h	65.360	−0.046%	$522K	$28.0M	8.1x
Bybit XAGUSDT	+0.0081%	4h	65.400	+0.015%	$28.2M	$39.0M	150x	as long as short
Aster XAGUSDT	+0.0093%	4h	65.406	+0.025%	$2.7M	$937K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.371	−0.028%	$466K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.390	0.000%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDTlong	+0.0100%	1h	65.390	long leg	$112K	$30K	50x
Lighter XAG	+0.0120%	1h	65.383	−0.011%	$5.3M	$11.1M	25x	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.393	+0.005%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0137%	4h	65.665	+0.420%	$5.6M	$9.5M	—	as long as short
Binance XAGUSDT	+0.0142%	4h	65.410	+0.031%	$190.1M	$729.1M	100x	as long as short
MEXC SILVER_USDT	+0.0142%	4h	65.420	+0.046%	$112.9M	$157.6M	1000x	as long as short
Nado XAG-PERP	+0.0152%	1h	65.377	−0.020%	$1.3M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0155%	4h	65.701	+0.475%	$668K	$311K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.370	−0.031%	$1.7M	$1.4M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	65.406	+0.025%	$386K	$1.5M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.380	−0.015%	$66K	$370K	20x	as long as short
Bitget XAGUSDT	+0.0210%	4h	65.410	+0.031%	$23.3M	$47.7M	100x	as long as short
Aftermath Perps XAGUSD	+0.0215%	1h	65.565	+0.268%	$79K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0215%	8h	65.410	+0.031%	$27.4M	$69.4M	50x	as long as short
Bullet SILVER-USD	+0.0227%	1h	65.429	+0.060%	$43K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0355% / S −0.0317%	1h	65.405	+0.023%	$86K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0360%	1h	65.325	−0.099%	$20K	$19K	10x	as long as short
BloFin XAG-USDT	+0.0365%	4h	65.420	+0.046%	$2.6M	$623K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0471%	1h	65.389	−0.002%	$914K	$750K	25x	as long as short