Funding you earn now, next payment 00:00 UTC−0.0012%/8h= −1.3% APRpaid last 24h +0.015%
Price spread now: Phoenix against Kalshi−0.153%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.135%+$14 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Phoenix is 0.153% cheaper against Kalshi than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.135%, 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 | 66.772 | 0.0060 | pay 0.0180% / 24h | 13h 52m | $557K | $21.7M | 8.1x |
| Short | Phoenix SILVER | 66.670 | 0.0048 | get 0.0006% / 1h | 52m 43s | $57K | $26K | 25x |
Kalshi KXSILVERPERP
Phoenix SILVERFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix against Kalshi. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$2.5
- Price spread: −0.153% → 0.000%
- −$15.28
- Slippage, 4 orders
- no order book: not counted
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$34.78
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Kalshi: live order book, 1 min ago; Phoenix: 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, 1 min ago | 0.82 bp | 6.5 bp −$6 | 6.8 bp −$68 | 10.6 bp −$1,062 | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 | |
|---|---|---|---|---|---|---|---|---|
| dYdX XAG-USD | 0.0000% | 1h | 66.742 | −0.044% | $15K | — | 5x | as long as short |
| Bybit XAGUSDT | 0.0000% | 4h | 66.820 | +0.072% | $26.1M | $35.2M | 150x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.790 | +0.027% | $155.9M | $165.0M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.810 | +0.057% | $2K | $3.0M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.830 | +0.087% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.820 | +0.072% | $1.5M | $251K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.750 | −0.033% | $121K | — | 250x | as long as short |
| Hotstuff SILVER-PERP | +0.0008% | 1h | 66.739 | −0.049% | $36K | $21K | 20x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.793 | +0.031% | $4.8M | $9.5M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.751 | −0.032% | $5.4M | $13.2M | 10x | as long as short |
dYdX XAG-USD
Bybit XAGUSDT
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Hotstuff SILVER-PERP
Lighter RH XAG
Extended XAG-USDShow 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 | −0.557% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.750 | −0.033% | $803K | $2.7M | 40x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 67.256 | +0.725% | — | — | 25x | as long as short |
| Phoenix SILVERshort | +0.0048% | 1h | 66.670 | −0.153% | $57K | $26K | 25x | |
| tradeXYZ xyz:SILVER | +0.0050% | 1h | 66.775 | +0.004% | $166.3M | $85.8M | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.783 | +0.016% | $3.9M | $699K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.751 | −0.031% | $4K | $5K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 66.690 | −0.123% | $5.7M | $9.8M | 25x | as long as short |
| QFEX SILVER-USD | +0.0051% | 1h | 66.760 | −0.018% | $115K | $2.8M | 20x | as long as short |
| BloFin XAG-USDT | +0.0056% | 4h | 66.800 | +0.042% | $2.6M | $671K | 100x | as long as short |
| Kalshi KXSILVERPERPlong | +0.0060% | 24h | 66.772 | long leg | $557K | $21.7M | 8.1x | |
| Variational Omni XAG | +0.0087% | 4h | 66.806 | +0.051% | $5.6M | $10.1M | — | as long as short |
| Paradex XAG-USD-PERP | +0.0092% | 8h | 66.797 | +0.038% | $30K | $1K | 5x | as long as short |
| Lighter XAG | +0.0096% | 1h | 66.795 | +0.035% | $5.4M | $10.4M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.756 | −0.023% | $482K | $624K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.780 | +0.012% | $24.7M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.750 | −0.033% | $127K | $26K | 50x | as long as short |
| Aevo XAG-PERP | +0.0104% | 1h | 66.754 | −0.027% | $48K | — | 10x | as long as short |
| Aster XAGUSDT | +0.0106% | 4h | 66.807 | +0.052% | $2.8M | $1.1M | 100x | as long as short |
| edgeX XAGUSDC | +0.0106% | 4h | 66.731 | −0.061% | $677K | $313K | 30x | as long as short |
| MEXC SILVER_USDT | +0.0110% | 4h | 66.790 | +0.027% | $116.7M | $154.5M | 1000x | as long as short |
| Binance XAGUSDT | +0.0110% | 4h | 66.809 | +0.055% | $192.3M | $724.9M | 100x | as long as short |
| Nado XAG-PERP | +0.0128% | 1h | 66.768 | −0.006% | $1.3M | $6.6M | 10x | as long as short |
| RISEx XAG/USDC | +0.0148% | 1h | 66.782 | +0.016% | $1.3M | $4.2M | 20x | as long as short |
| Bitget XAGUSDT | +0.0166% | 4h | 66.790 | +0.027% | $24.9M | $48.7M | 100x | as long as short |
| Aftermath Perps XAGUSD | +0.0174% | 1h | 66.724 | −0.072% | $80K | $40K | 10x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0184% | 1h | 66.760 | −0.018% | $1.9M | $952K | 20x | as long as short |
| OKX XAG-USDT-SWAP | +0.0191% | 8h | 66.800 | +0.042% | $28.2M | $67.5M | 50x | as long as short |
| Bullet SILVER-USD | +0.0193% | 1h | 66.817 | +0.067% | $45K | $76K | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0240% | 1h | 66.740 | −0.049% | $20K | $22K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0291% / S −0.0281% | 1h | 66.805 | +0.049% | $104K | — | 111x | as long as short |
| GRVT XAG_USDT_Perp | +0.0298% | 4h | 66.830 | +0.087% | $401K | $1.5M | 25x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0349% | 1h | 66.800 | +0.042% | $51K | $351K | 20x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0487% | 1h | 66.778 | +0.008% | $767K | $592K | 25x | as long as short |
Injective XAG/USDC PERP
StandX XAG-USD
Vest SI-PERP
tradeXYZ xyz:SILVER
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
QFEX SILVER-USD
BloFin XAG-USDT
Variational Omni XAG
Paradex XAG-USD-PERP
Lighter XAG
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Aevo XAG-PERP
Aster XAGUSDT
edgeX XAGUSDC
MEXC SILVER_USDT
Binance XAGUSDT
Nado XAG-PERP
RISEx XAG/USDC
Bitget XAGUSDT
Aftermath Perps XAGUSD
Coinbase International SILVER-PERP-INTX
OKX XAG-USDT-SWAP
Bullet SILVER-USD
Hibachi XAG/USDT-P
GMX SILVER/USD [ETH-USDC]
GRVT XAG_USDT_Perp
Deribit SILVER_USDC-PERPETUAL
Kraken Futures PF_XAGUSD