Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0030%/8h= −3.2% APRpaid last 24h +0.020%

Price spread now: Extended against Kalshi−0.033%7-day average +0.043% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$230.226% of the position

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 7 days+0.097%+$10 · spread now −0.033%, 7d avg +0.043%

Together, before fees+0.204%+ Points / potential airdropExtended: Active · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.076% cheaper against Kalshi than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.043%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.107%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	66.362	0.0062	pay 0.0185% / 24h	12h 16m	$542K	$23.7M	8.1x
Short	Extended XAG-USD	66.340	0.0032	get 0.0004% / 1h	16m 41s	$5.4M	$12.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Kalshi. 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 KalshibpFee ExtendedbpOrdersPrice spread, now −0.033%Rate

Funding earned: −$6.22
Price spread: −0.033% → +0.043%: −$7.6
Slippage, 4 orders: −$7.59
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$36.42
Costs to cover: 0.226%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; Extended: live order book, 2 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 Kalshi live order book, 2 min ago	0.08 bp	5.2 bp −$5	5.3 bp −$53	9.2 bp −$921	doesn't fit
Sell Extended live order book, 2 min ago	0.08 bp	2.6 bp −$3	4.3 bp −$43	10.9 bp −$1,085	doesn't fit

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
dYdX XAG-USD	0.0000%	1h	66.363	+0.002%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.430	+0.102%	$153.1M	$164.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.430	+0.102%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.450	+0.133%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.440	+0.118%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.357	−0.008%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.375	+0.020%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.397	+0.052%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USDshort	+0.0032%	1h	66.340	−0.033%	$5.4M	$12.1M	10x
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.057%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.390	+0.042%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.833	+0.710%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.402	+0.060%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.359	−0.005%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.339	−0.035%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.300	−0.093%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.380	+0.027%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0062%	24h	66.362	long leg	$542K	$23.7M	8.1x
RISEx XAG/USDC	+0.0079%	1h	66.412	+0.076%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.374	+0.018%	$166.0M	$76.1M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.354	−0.012%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.380	+0.027%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.380	+0.027%	$126K	$23K	50x	as long as short
Bybit XAGUSDT	+0.0128%	4h	66.420	+0.087%	$26.6M	$36.4M	150x	as long as short
Aster XAGUSDT	+0.0132%	4h	66.411	+0.073%	$2.8M	$939K	100x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.403	+0.062%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0159%	4h	66.443	+0.122%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.407	+0.067%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0176%	4h	66.410	+0.072%	$102.8M	$158.5M	1000x	as long as short
Binance XAGUSDT	+0.0179%	4h	66.410	+0.072%	$192.4M	$706.4M	100x	as long as short
edgeX XAGUSDC	+0.0184%	4h	66.421	+0.089%	$674K	$315K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.072%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.402	+0.060%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	66.410	+0.072%	$28.0M	$65.7M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.343	−0.029%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0231%	1h	66.373	+0.016%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	66.363	+0.001%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.410	+0.072%	$23.9M	$46.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0266%	4h	66.450	+0.133%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.428	+0.099%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.435	+0.110%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.390	+0.042%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.370	+0.012%	$765K	$478K	25x	as long as short