Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0132%/8h= +14.4% APRpaid last 24h +0.036%

Price spread now: MEXC against Kalshi+0.006%48s7-day average +0.101% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.147% of the position

Long on Kalshi Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.063%+$6 on $10k

Price spread, last 7 days+0.127%+$13 · spread now +0.006%, 7d avg +0.101%

Together, before fees+0.190%+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.095% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.101%). If the spread goes back, that is −$10 on $10k: about 2.4 days of funding at the current rate (+$4 a day). At the pace of the last 7 days (+0.063% in total) that is about 11 days. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	65.956	0.0072	pay 0.0217% / 24h	9h 43m	$538K	$25.9M	8.1x
Short	MEXC SILVER_USDT	65.960	0.0204	get 0.0102% / 4h	3h 43m	$112.8M	$152.1M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.006%Rate

Funding earned: $27.65
Price spread: +0.006% → +0.101%: −$9.51
Slippage, 4 orders: −$4.66
Fee Kalshi: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: $3.48
Costs to cover: 0.147%
Break-even: 6.1 days

Slippage from Kalshi: live order book, 6 min ago; MEXC: 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, 6 min ago	0.68 bp	6.9 bp −$7	7.5 bp −$75	11.9 bp −$1,187	doesn't fit
Sell MEXC live order book, 6 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	3.4 bp −$1,718

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	−0.0046%	1h	65.850	−0.161%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.034%	$14K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.000	+0.067%	$149.5M	$163.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.960	+0.006%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.030	+0.112%	$1.0M	$967K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.980	+0.036%	$1.5M	$319K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.921	−0.052%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.954	−0.003%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.917	−0.060%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.673%	$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
StandX XAG-USD	+0.0040%	1h	65.990	+0.052%	$794K	$3.1M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.404	+0.679%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.937	−0.029%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.900	−0.085%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0051%	1h	65.948	−0.012%	$165.9M	$73.6M	25x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.984	+0.042%	$35K	$21K	20x	as long as short
QFEX SILVER-USD	+0.0060%	1h	65.950	−0.009%	$114K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0072%	24h	65.956	long leg	$538K	$25.9M	8.1x
Phoenix SILVER	+0.0073%	1h	65.967	+0.017%	$56K	$26K	25x	as long as short
RISEx XAG/USDC	+0.0080%	1h	65.963	+0.010%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.906	−0.076%	$469K	$614K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.930	−0.039%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.960	+0.006%	$113K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.948	−0.012%	$5.2M	$10.6M	25x	as long as short
Paradex XAG-USD-PERP	+0.0121%	8h	65.959	+0.005%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0128%	4h	66.000	+0.067%	$27.4M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0138%	4h	65.962	+0.010%	$2.7M	$871K	100x	as long as short
BloFin XAG-USDT	+0.0159%	4h	66.000	+0.067%	$2.6M	$556K	100x	as long as short
Nado XAG-PERP	+0.0175%	1h	65.918	−0.058%	$1.4M	$6.1M	10x	as long as short
Aevo XAG-PERP	+0.0192%	1h	65.968	+0.018%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0195%	4h	66.003	+0.072%	$5.6M	$9.4M	—	as long as short
MEXC SILVER_USDTshort	+0.0204%	4h	65.960	+0.006%	$112.8M	$152.1M	1000x
Binance XAGUSDT	+0.0204%	4h	65.984	+0.042%	$191.0M	$702.5M	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	65.940	−0.024%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.009%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.014	+0.088%	$670K	$312K	30x	as long as short
Aftermath Perps XAGUSD	+0.0215%	1h	65.967	+0.017%	$79K	$36K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0218%	4h	66.022	+0.100%	$394K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0234%	1h	65.995	+0.060%	$44K	$76K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0234%	8h	66.000	+0.067%	$27.6M	$64.8M	50x	as long as short
Bitget XAGUSDT	+0.0244%	4h	65.970	+0.021%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0344%	1h	65.926	−0.046%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	65.985	+0.044%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.945	−0.017%	$910K	$683K	25x	as long as short