Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h 0.000%

Price spread now: Kalshi against HTX−0.108%7-day average −0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$360.357% of the position

Long on HTX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.016%−$2 · spread now −0.108%, 7d avg −0.150%

Together, before fees−0.016%−$2 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 0.043% dearer against HTX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.150%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX XAG-USDT	66.040	0	get 0.0000% / 4h	3h 45m	$1.0M	$967K	75x
Short	Kalshi KXSILVERPERP	65.969	0.0072	get 0.0217% / 24h	9h 45m	$535K	$25.9M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against HTX. 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 HTXbpFee KalshibpOrdersPrice spread, now −0.108%Rate

Funding earned: $15.18
Price spread: −0.108% → −0.150%: $4.28
Slippage, 4 orders: −$13.72
Fee HTX: 6 bp × 2 orders: −$12
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$16.27
Costs to cover: 0.357%
Break-even: 14.5 days

Slippage from HTX: live order book, 3 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 HTX live order book, 3 min ago	4.54 bp	10.5 bp −$11	10.5 bp −$105	18.4 bp −$1,843	doesn't fit
Sell Kalshi live order book, 3 min ago	0.68 bp	6.2 bp −$6	6.3 bp −$63	10.2 bp −$1,022	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	−0.0042%	1h	65.890	−0.227%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.161%	$14K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.010	−0.045%	$2K	$2.7M	20x	as long as short
HTX XAG-USDTlong	0.0000%	4h	66.040	long leg	$1.0M	$967K	75x
Phemex XAGUSDT	0.0000%	4h	66.030	−0.015%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.950	−0.137%	$120K	—	250x	as long as short
Gate XAG_USDT	+0.0024%	4h	65.990	−0.076%	$149.5M	$163.3M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.985	−0.083%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.927	−0.171%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.545%	$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
Hotstuff SILVER-PERP	+0.0040%	1h	65.974	−0.100%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.010	−0.045%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.412	+0.563%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.969	−0.108%	$166.0M	$73.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.948	−0.139%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.944	−0.145%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0060%	1h	65.960	−0.121%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0072%	24h	65.969	−0.108%	$535K	$25.9M	8.1x
Phoenix SILVER	+0.0073%	1h	65.967	−0.111%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.986	−0.082%	$1.3M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0100%	4h	65.990	−0.076%	$27.3M	$36.4M	150x	as long as short
Pacifica XAG	+0.0100%	1h	65.942	−0.148%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.970	−0.106%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.970	−0.106%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0120%	1h	65.987	−0.081%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0124%	8h	65.973	−0.102%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0141%	4h	66.009	−0.047%	$2.7M	$862K	100x	as long as short
Nado XAG-PERP	+0.0169%	1h	65.936	−0.158%	$1.4M	$6.1M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	66.002	−0.057%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0195%	4h	66.003	−0.055%	$5.6M	$9.4M	—	as long as short
BloFin XAG-USDT	+0.0197%	4h	66.010	−0.045%	$2.6M	$556K	100x	as long as short
Binance XAGUSDT	+0.0206%	4h	65.985	−0.083%	$190.9M	$702.5M	100x	as long as short
MEXC SILVER_USDT	+0.0206%	4h	65.980	−0.091%	$113.2M	$151.7M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.136%	$1.8M	$1.0M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0212%	4h	66.009	−0.047%	$394K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.014	−0.040%	$670K	$312K	30x	as long as short
Aftermath Perps XAGUSD	+0.0216%	1h	65.981	−0.090%	$79K	$36K	10x	as long as short
Bullet SILVER-USD	+0.0232%	1h	66.016	−0.036%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	65.980	−0.091%	$27.6M	$64.7M	50x	as long as short
Bitget XAGUSDT	+0.0246%	4h	65.980	−0.091%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	65.968	−0.110%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.000	−0.061%	$75K	$363K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.015	−0.038%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.981	−0.089%	$911K	$683K	25x	as long as short