Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h −0.058%

Price spread now: Kalshi against GRVT−0.036%7-day average −0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$280.276% of the position

Long on GRVT Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 7 days−0.069%−$7 · spread now −0.036%, 7d avg −0.127%

Together, before fees−0.206%+ Points / potential airdropGRVT: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.091% dearer against GRVT than usual: you sell high and buy low (spread −0.036% now, against its 7-day average of −0.127%): +$9 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT XAG_USDT_Perp	65.317	0.0134	pay 0.0067% / 4h	49m 30s	$384K	$1.6M	25x
Short	Kalshi KXSILVERPERP	65.293	0.0079	get 0.0236% / 24h	6h 49m	$477K	$31.8M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against GRVT. 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 GRVTbpFee KalshibpOrdersPrice spread, now −0.036%Rate

Funding earned: −$11.6
Price spread: −0.036% → −0.127%: $9.08
Slippage, 4 orders: −$8.61
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$30.13
Costs to cover: 0.276%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Kalshi: live order book, 4 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 GRVT live order book, 4 min ago	0.76 bp	6.6 bp −$7	6.8 bp −$68	37.5 bp −$3,750	doesn't fit
Sell Kalshi live order book, 4 min ago	0.38 bp	7.2 bp −$7	7.3 bp −$73	12.7 bp −$1,272	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	−0.0057%	1h	65.190	−0.194%	$5.6M	$9.6M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.287	−0.045%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.330	+0.020%	$27.7M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.320	+0.005%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.360	+0.066%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.360	+0.066%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.261	−0.084%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0016%	4h	65.312	−0.007%	$5.5M	$9.1M	—	as long as short
Gate XAG_USDT	+0.0030%	4h	65.380	+0.097%	$141.3M	$176.8M	100x	as long as short
Aster XAGUSDT	+0.0030%	4h	65.317	0.000%	$2.7M	$951K	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.314	−0.004%	$4.6M	$9.7M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.303	−0.020%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.659%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0040%	4h	65.320	+0.005%	$117.4M	$157.0M	1000x	as long as short
StandX XAG-USD	+0.0040%	1h	65.310	−0.010%	$786K	$2.9M	40x	as long as short
Binance XAGUSDT	+0.0041%	4h	65.320	+0.005%	$191.6M	$761.2M	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.300	−0.026%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.734	+0.639%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.288	−0.044%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.281	−0.055%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.342	+0.039%	$29K	$1K	5x	as long as short
Aevo XAG-PERP	+0.0056%	1h	65.307	−0.015%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0057%	4h	65.317	0.000%	$665K	$313K	30x	as long as short
Phoenix SILVER	+0.0061%	1h	65.287	−0.045%	$56K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0077%	1h	65.332	+0.023%	$169.7M	$81.6M	25x	as long as short
Kalshi KXSILVERPERPshort	+0.0079%	24h	65.293	−0.036%	$477K	$31.8M	8.1x
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.360	+0.066%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.289	−0.043%	$469K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.330	+0.020%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.260	−0.087%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.321	+0.006%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perplong	+0.0134%	4h	65.317	long leg	$384K	$1.6M	25x
Lighter XAG	+0.0160%	1h	65.343	+0.040%	$5.3M	$11.1M	25x	as long as short
Bitget XAGUSDT	+0.0166%	4h	65.310	−0.010%	$23.7M	$45.4M	100x	as long as short
BloFin XAG-USDT	+0.0166%	4h	65.330	+0.020%	$2.7M	$582K	100x	as long as short
Nado XAG-PERP	+0.0166%	1h	65.272	−0.068%	$1.2M	$4.8M	10x	as long as short
Hibachi XAG/USDT-P	+0.0168%	1h	65.287	−0.045%	$20K	$17K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0176%	8h	65.340	+0.036%	$28.1M	$70.6M	50x	as long as short
Hotstuff SILVER-PERP	+0.0192%	1h	65.332	+0.023%	$35K	$21K	20x	as long as short
Aftermath Perps XAGUSD	+0.0209%	1h	65.303	−0.021%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.320	+0.005%	$65K	$387K	20x	as long as short
Bullet SILVER-USD	+0.0225%	1h	65.326	+0.014%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.325	+0.013%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.294	−0.034%	$1.0M	$872K	25x	as long as short