Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0043%/8h= −4.7% APRpaid last 24h +0.010%

Price spread now: Injective against Kalshi+1.047%7-day average — · you sell dearer than you buy

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

Long on Kalshi Short on Injective

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

The price spread pays, funding is against you. Injective is 1.047% dearer against Kalshi than usual: you sell high and buy low (spread +1.047% now, against zero (this spread has no 7-day history yet)): +$105 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	65.712	0.0076	pay 0.0229% / 24h	8h 06m	$488K	$29.1M	8.1x
Short	Injective XAG/USDC PERP	66.400	0.0033	get 0.0004% / 1h	6m 37s	$11K	$94K	52x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.047%Rate

Funding earned: −$9.03
Price spread: +1.047% → 0.000%: $104.7
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $85.65
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kalshi: live order book, 2 min ago; Injective: no order-book sample. 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 Kalshi live order book, 2 min ago	0.69 bp	5.9 bp −$6	7.5 bp −$75	11.1 bp −$1,113	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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	−0.0040%	1h	65.660	−0.079%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0003%	1h	65.630	−0.125%	$5.7M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.698	−0.022%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.760	+0.073%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.760	+0.073%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.720	+0.012%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.709	−0.005%	$119K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.731	+0.030%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.716	+0.007%	$4.7M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.675	−0.057%	$5.2M	$11.7M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERPshort	+0.0033%	1h	66.400	+1.047%	$11K	$94K	52x
Gate XAG_USDT	+0.0036%	4h	65.750	+0.058%	$144.6M	$181.1M	100x	as long as short
Phoenix SILVER	+0.0036%	1h	65.648	−0.097%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.720	+0.012%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.142	+0.654%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.680	−0.049%	$3.9M	$711K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.697	−0.023%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.690	−0.033%	$157K	$2.8M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0054%	1h	65.730	+0.027%	$66K	$368K	20x	as long as short
Paradex XAG-USD-PERP	+0.0063%	8h	65.710	−0.004%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERPlong	+0.0076%	24h	65.712	long leg	$488K	$29.1M	8.1x
tradeXYZ xyz:SILVER	+0.0077%	1h	65.692	−0.030%	$171.2M	$82.2M	25x	as long as short
Aster XAGUSDT	+0.0082%	4h	65.730	+0.027%	$2.7M	$944K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.675	−0.057%	$469K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.700	−0.018%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.580	−0.201%	$112K	$23K	50x	as long as short
Bybit XAGUSDT	+0.0109%	4h	65.740	+0.043%	$28.9M	$39.2M	150x	as long as short
Variational Omni XAG	+0.0127%	4h	65.584	−0.196%	$5.5M	$9.5M	—	as long as short
Lighter XAG	+0.0128%	1h	65.727	+0.023%	$5.4M	$11.4M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.746	+0.052%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0131%	4h	65.720	+0.012%	$189.0M	$745.9M	100x	as long as short
MEXC SILVER_USDT	+0.0132%	4h	65.720	+0.012%	$112.8M	$162.0M	1000x	as long as short
edgeX XAGUSDC	+0.0147%	4h	65.560	−0.231%	$667K	$312K	30x	as long as short
Nado XAG-PERP	+0.0149%	1h	65.685	−0.041%	$1.3M	$5.6M	10x	as long as short
Hotstuff SILVER-PERP	+0.0168%	1h	65.708	−0.006%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.690	−0.033%	$1.6M	$1.3M	20x	as long as short
Aftermath Perps XAGUSD	+0.0205%	1h	65.567	−0.221%	$79K	$37K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0208%	4h	65.644	−0.103%	$398K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0212%	4h	65.730	+0.027%	$23.9M	$46.3M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	65.720	+0.012%	$27.9M	$70.3M	50x	as long as short
Bullet SILVER-USD	+0.0240%	1h	65.756	+0.066%	$44K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0361%	1h	65.765	+0.081%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0373%	4h	65.730	+0.027%	$2.6M	$622K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0469%	1h	65.727	+0.022%	$917K	$735K	25x	as long as short