Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.054%

Price spread now: Nado against Kalshi−0.060%7-day average +0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$220.216% of the position

Long on Kalshi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.076%+$8 on $10k

Price spread, last 7 days+0.160%+$16 · spread now −0.060%, 7d avg +0.080%

Together, before fees+0.235%+ Points / potential airdropNado: Active · farm board+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.140% cheaper against Kalshi than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of +0.080%). If the spread goes back, that is −$14 on $10k: about 3.0 days of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.076% in total) that is about 6.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	66.124	0.0066	pay 0.0198% / 24h	11h 01m	$544K	$24.8M	8.1x
Short	Nado XAG-PERP	66.084	0.0224	get 0.0028% / 1h	1m 56s	$1.3M	$6.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now −0.060%Rate

Funding earned: $33.11
Price spread: −0.060% → +0.080%: −$14.01
Slippage, 4 orders: −$4.61
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: −$2.51
Costs to cover: 0.216%
Break-even: 7.5 days

Slippage from Kalshi: live order book, 2 min ago; Nado: 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	0.83 bp	6.5 bp −$7	7.4 bp −$74	10.6 bp −$1,064	doesn't fit
Sell Nado live order book, 2 min ago	0.08 bp	4.2 bp −$4	8.4 bp −$84	35.8 bp −$3,577	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	66.087	−0.056%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.170	+0.070%	$149.9M	$165.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.170	+0.070%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.160	+0.054%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.170	+0.070%	$1.5M	$255K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.078	−0.069%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.144	+0.030%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.097	−0.040%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.417%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.100	−0.036%	$795K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0041%	1h	66.040	−0.127%	$5.7M	$9.7M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.575	+0.682%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.111	−0.020%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.078	−0.070%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.140	+0.024%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0066%	24h	66.124	long leg	$544K	$24.8M	8.1x
Phoenix SILVER	+0.0084%	1h	66.097	−0.041%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.129	+0.008%	$165.4M	$73.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.090	−0.051%	$470K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	−0.021%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	−0.006%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0112%	1h	66.108	−0.024%	$35K	$21K	20x	as long as short
Aster XAGUSDT	+0.0122%	4h	66.120	−0.006%	$2.7M	$878K	100x	as long as short
Paradex XAG-USD-PERP	+0.0128%	8h	66.137	+0.020%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0134%	4h	66.190	+0.100%	$26.9M	$36.0M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.141	+0.026%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.142	+0.027%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.149	+0.038%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.154	+0.046%	$5.2M	$10.6M	25x	as long as short
MEXC SILVER_USDT	+0.0188%	4h	66.160	+0.054%	$107.7M	$154.3M	1000x	as long as short
Binance XAGUSDT	+0.0191%	4h	66.179	+0.083%	$192.3M	$704.7M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.180	+0.085%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.162	+0.058%	$671K	$315K	30x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.120	−0.006%	$63K	$337K	20x	as long as short
BloFin XAG-USDT	+0.0207%	4h	66.160	+0.054%	$2.6M	$551K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.170	+0.070%	$27.7M	$65.9M	50x	as long as short
Nado XAG-PERPshort	+0.0224%	1h	66.084	−0.060%	$1.3M	$6.5M	10x
Aftermath Perps XAGUSD	+0.0230%	1h	66.129	+0.007%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0238%	4h	66.170	+0.070%	$23.8M	$45.6M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0254%	4h	66.140	+0.024%	$396K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0272%	1h	66.156	+0.048%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.066	−0.087%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0362% / S −0.0389%	1h	66.155	+0.047%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0551%	1h	66.122	−0.004%	$912K	$674K	25x	as long as short