Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h +0.010%

Price spread now: Lighter RH against Kalshi+0.022%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$180.183% of the position

Long on Kalshi Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 7 days+0.058%+$6 · spread now +0.022%, 7d avg +0.060%

Together, before fees+0.127%+ Points / potential airdropLighter RH: Points live · farm board+$13 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 Lighter RH is 0.038% cheaper against Kalshi than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.060%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.069%, 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	66.769	0.0060	pay 0.0179% / 24h	13h 47m	$570K	$21.9M	8.1x
Short	Lighter RH XAG	66.784	0.0032	get 0.0004% / 1h	47m 53s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.022%Rate

Funding earned: −$5.82
Price spread: +0.022% → +0.060%: −$3.84
Slippage, 4 orders: −$8.29
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$27.95
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Kalshi: live order book, 1 min ago; Lighter RH: live order book, 6 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, 1 min ago	0.30 bp	7.0 bp −$7	7.5 bp −$75	12.1 bp −$1,208	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.39 bp	0.7 bp −$1	1.6 bp −$16	20.7 bp −$2,075	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
dYdX XAG-USD	0.0000%	1h	66.797	+0.043%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.800	+0.046%	$26.1M	$35.3M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.800	+0.046%	$155.6M	$166.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.820	+0.076%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.820	+0.076%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.800	+0.046%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.746	−0.034%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.793	+0.036%	$36K	$21K	20x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.784	+0.022%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.738	−0.046%	$5.4M	$13.2M	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 PERP	+0.0033%	1h	66.400	−0.553%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.760	−0.013%	$803K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.263	+0.740%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.759	−0.015%	$57K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.746	−0.034%	$166.2M	$86.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.778	+0.013%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.742	−0.040%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.730	−0.058%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.810	+0.061%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0060%	24h	66.769	long leg	$570K	$21.9M	8.1x
Lighter XAG	+0.0072%	1h	66.785	+0.024%	$5.4M	$10.4M	25x	as long as short
Paradex XAG-USD-PERP	+0.0089%	8h	66.822	+0.080%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0091%	4h	66.775	+0.008%	$5.7M	$9.9M	—	as long as short
Pacifica XAG	+0.0100%	1h	66.771	+0.003%	$476K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.770	+0.001%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.750	−0.028%	$127K	$26K	50x	as long as short
Aster XAGUSDT	+0.0103%	4h	66.793	+0.036%	$2.8M	$1.1M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.785	+0.024%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	66.780	+0.016%	$116.8M	$155.7M	1000x	as long as short
Binance XAGUSDT	+0.0107%	4h	66.793	+0.036%	$192.3M	$725.9M	100x	as long as short
edgeX XAGUSDC	+0.0115%	4h	66.802	+0.049%	$678K	$314K	30x	as long as short
Nado XAG-PERP	+0.0130%	1h	66.786	+0.025%	$1.3M	$6.5M	10x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.830	+0.091%	$1.3M	$4.2M	20x	as long as short
Bitget XAGUSDT	+0.0164%	4h	66.790	+0.031%	$24.8M	$48.7M	100x	as long as short
BloFin XAG-USDT	+0.0164%	4h	66.830	+0.091%	$2.6M	$692K	100x	as long as short
Aftermath Perps XAGUSD	+0.0174%	1h	66.769	+0.001%	$80K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0183%	1h	66.815	+0.069%	$45K	$75K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.780	+0.016%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.780	+0.016%	$28.2M	$67.4M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0199%	1h	66.780	+0.016%	$51K	$344K	20x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.775	+0.009%	$20K	$22K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.790	+0.031%	$397K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.795	+0.039%	$104K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0487%	1h	66.769	0.000%	$767K	$589K	25x	as long as short