Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0078%/8h= +8.5% APRpaid last 24h −0.025%

Price spread now: Kalshi against Bybit−0.075%7-day average −0.125% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$270.266% of the position

Long on Bybit Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.045%−$4 on $10k

Price spread, last 7 days−0.060%−$6 · spread now −0.075%, 7d avg −0.125%

Together, before fees−0.105%−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.050% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.125%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	65.380	0	get 0.0000% / 4h	1h 18m	$27.8M	$39.9M	150x
Short	Kalshi KXSILVERPERP	65.331	0.0078	get 0.0233% / 24h	7h 18m	$507K	$31.2M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Bybit. 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 BybitbpFee KalshibpOrdersPrice spread, now −0.075%Rate

Funding earned: $16.29
Price spread: −0.075% → −0.125%: $4.96
Slippage, 4 orders: −$5.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$5.31
Costs to cover: 0.266%
Break-even: 9.3 days

Slippage from Bybit: live order book, 1 min ago; Kalshi: live order book, 1 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 Bybit live order book, 1 min ago	0.76 bp	6.3 bp −$6	7.5 bp −$75	11.7 bp −$1,170	47.0 bp −$23.5K
Sell Kalshi live order book, 1 min ago	0.08 bp	6.0 bp −$6	6.6 bp −$66	10.6 bp −$1,060	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
Hibachi XAG/USDT-P	−0.0144%	1h	65.301	−0.121%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0080%	1h	65.240	−0.214%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	−0.0008%	1h	65.330	−0.076%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.253	−0.194%	$12K	$5K	5x	as long as short
Bybit XAGUSDTlong	0.0000%	4h	65.380	long leg	$27.8M	$39.9M	150x
SunX XAG-USDT	0.0000%	4h	65.380	0.000%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.410	+0.046%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.390	+0.015%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.296	−0.128%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0024%	4h	65.380	0.000%	$141.1M	$183.2M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni XAG	+0.0028%	4h	65.404	+0.036%	$5.5M	$9.4M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.354	−0.040%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.310	−0.107%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.560%	$11K	$94K	52x	as long as short
Aster XAGUSDT	+0.0034%	4h	65.360	−0.031%	$2.7M	$975K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.350	−0.046%	$786K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.766	+0.590%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.340	−0.061%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.337	−0.066%	$170.3M	$83.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.321	−0.090%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.295	−0.130%	$3K	$6K	20x	as long as short
MEXC SILVER_USDT	+0.0052%	4h	65.360	−0.031%	$116.5M	$157.6M	1000x	as long as short
Binance XAGUSDT	+0.0053%	4h	65.375	−0.008%	$191.0M	$766.3M	100x	as long as short
Paradex XAG-USD-PERP	+0.0055%	8h	65.337	−0.066%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.362	−0.027%	$1.2M	$4.9M	20x	as long as short
Phoenix SILVER	+0.0061%	1h	65.371	−0.014%	$56K	$31K	25x	as long as short
Aevo XAG-PERP	+0.0064%	1h	65.345	−0.054%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0073%	4h	65.369	−0.017%	$665K	$313K	30x	as long as short
Kalshi KXSILVERPERPshort	+0.0078%	24h	65.331	−0.075%	$507K	$31.2M	8.1x
Pacifica XAG	+0.0100%	1h	65.301	−0.120%	$469K	$628K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.330	−0.076%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.360	−0.031%	$112K	$19K	50x	as long as short
GRVT XAG_USDT_Perp	+0.0116%	4h	65.408	+0.043%	$385K	$1.6M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.290	−0.138%	$1.6M	$1.4M	20x	as long as short
Nado XAG-PERP	+0.0133%	1h	65.307	−0.111%	$1.2M	$5.2M	10x	as long as short
Lighter XAG	+0.0144%	1h	65.358	−0.034%	$5.3M	$11.5M	25x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.370	−0.015%	$23.7M	$46.5M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.380	0.000%	$28.0M	$71.0M	50x	as long as short
Bullet SILVER-USD	+0.0182%	1h	65.364	−0.024%	$44K	$76K	10x	as long as short
BloFin XAG-USDT	+0.0214%	4h	65.370	−0.015%	$2.6M	$600K	100x	as long as short
Aftermath Perps XAGUSD	+0.0214%	1h	65.324	−0.085%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0272% / S −0.0241%	1h	65.365	−0.023%	$93K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0362%	1h	65.350	−0.046%	$65K	$380K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0493%	1h	65.331	−0.075%	$915K	$746K	25x	as long as short