Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0021%/8h= +2.3% APRpaid last 24h −0.010%

Price spread now: Kalshi against Injective−0.363%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Injective Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Kalshi is 0.363% cheaper against Injective than usual: you would sell low and buy high (spread −0.363% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$36 on $10k: about 58 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective XAG/USDC PERP	66.400	0.0033	pay 0.0004% / 1h	46m 30s	$11K	$94K	52x
Short	Kalshi KXSILVERPERP	66.159	0.0054	get 0.0163% / 24h	15h 46m	$589K	$21.6M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Injective. 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 InjectivebpFee KalshibpOrdersPrice spread, now −0.363%Rate

Funding earned: $4.41
Price spread: −0.363% → 0.000%: −$36.3
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$41.91
Costs to cover: 0.100%
Break-even: 73.6 days

Slippage unknown: Injective: no order-book sample; Kalshi: live order book, 2 min ago. Net counts fees only.

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 Injective no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 2 min ago	0.30 bp	6.7 bp −$7	7.1 bp −$71	11.2 bp −$1,121	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

XAG on 43 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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.176	−0.338%	$777K	$588K	25x	as long as short
Hotstuff SILVER-PERP	−0.0072%	1h	66.161	−0.360%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.121	−0.420%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.210	−0.286%	$25.5M	$34.1M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.204	−0.295%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.190	−0.316%	$146.4M	$171.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	−0.271%	$2K	$3.2M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.220	−0.271%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.210	−0.286%	$1.5M	$247K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.137	−0.396%	$120K	—	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget XAGUSDT	+0.0004%	4h	66.210	−0.286%	$23.7M	$48.6M	100x	as long as short
Aster XAGUSDT	+0.0006%	4h	66.192	−0.313%	$2.8M	$1.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0008%	4h	66.209	−0.287%	$395K	$1.6M	25x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.190	−0.316%	$144K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0029%	4h	66.180	−0.331%	$2.5M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0031%	4h	66.189	−0.317%	$5.4M	$10.7M	—	as long as short
Lighter RH XAG	+0.0032%	1h	66.165	−0.353%	$4.5M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.136	−0.398%	$5.5M	$14.8M	10x	as long as short
Injective XAG/USDC PERPlong	+0.0033%	1h	66.400	long leg	$11K	$94K	52x
Lighter XAG	+0.0040%	1h	66.173	−0.341%	$5.2M	$10.7M	25x	as long as short
MEXC SILVER_USDT	+0.0040%	4h	66.200	−0.301%	$116.8M	$181.1M	1000x	as long as short
StandX XAG-USD	+0.0040%	1h	66.150	−0.377%	$792K	$2.8M	40x	as long as short
Binance XAGUSDT	+0.0042%	4h	66.206	−0.291%	$189.3M	$759.5M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.638	+0.358%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.157	−0.366%	$164.0M	$91.7M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.166	−0.352%	$3.9M	$715K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.140	−0.392%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.120	−0.422%	$5.6M	$9.9M	25x	as long as short
Kalshi KXSILVERPERPshort	+0.0054%	24h	66.159	−0.363%	$589K	$21.6M	8.1x
Aevo XAG-PERP	+0.0056%	1h	66.198	−0.305%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0056%	4h	66.191	−0.315%	$671K	$315K	30x	as long as short
Phoenix SILVER	+0.0073%	1h	66.148	−0.380%	$56K	$26K	25x	as long as short
Aftermath Perps XAGUSD	+0.0078%	1h	66.162	−0.358%	$80K	$40K	10x	as long as short
Paradex XAG-USD-PERP	+0.0091%	8h	66.185	−0.324%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.151	−0.375%	$474K	$641K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.160	−0.361%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.150	−0.377%	$113K	$51K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.180	−0.331%	$1.9M	$888K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0140%	8h	66.210	−0.286%	$27.2M	$67.5M	50x	as long as short
Nado XAG-PERP	+0.0156%	1h	66.148	−0.380%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0184%	1h	66.209	−0.287%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0360% / S −0.0369%	1h	66.205	−0.294%	$103K	—	29x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0808%	1h	66.220	−0.271%	$60K	$354K	20x	as long as short