Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h +0.015%

Price spread now: Polymarket Perps against Kalshi−0.015%7-day average +0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$230.232% of the position

Long on Kalshi Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.096%+$10 on $10k

Price spread, last 7 days+0.075%+$7 · spread now −0.015%, 7d avg +0.012%

Together, before fees+0.171%+$17 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 Polymarket Perps is 0.028% cheaper against Kalshi than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.096%, 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	65.617	0.0076	pay 0.0229% / 24h	8h 04m	$461K	$29.3M	8.1x
Short	Polymarket Perps SILVER-USD	65.607	0.0050	get 0.0006% / 1h	4m 10s	$3.9M	$711K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$5.54
Price spread: −0.015% → +0.012%: −$2.76
Slippage, 4 orders: −$5.18
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$31.48
Costs to cover: 0.232%
Break-even: never at this rate

Slippage from Kalshi: live order book, 5 min ago; Polymarket Perps: live order book, 5 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, 5 min ago	0.69 bp	5.9 bp −$6	7.5 bp −$75	11.1 bp −$1,113	doesn't fit
Sell Polymarket Perps live order book, 5 min ago	1.60 bp	5.6 bp −$6	6.1 bp −$61	8.2 bp −$824	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
Hibachi XAG/USDT-P	−0.0064%	1h	65.587	−0.046%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0006%	1h	65.520	−0.148%	$5.7M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.582	−0.054%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.660	+0.066%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.680	+0.096%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.650	+0.050%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.601	−0.025%	$119K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.654	+0.056%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.645	+0.043%	$4.7M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.599	−0.028%	$5.1M	$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 PERP	+0.0033%	1h	66.400	+1.193%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	65.609	−0.012%	$56K	$26K	25x	as long as short
Gate XAG_USDT	+0.0040%	4h	65.660	+0.066%	$144.3M	$181.4M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.630	+0.020%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.070	+0.690%	—	—	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	65.607	−0.015%	$3.9M	$711K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.596	−0.032%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.640	+0.035%	$152K	$2.8M	20x	as long as short
Paradex XAG-USD-PERP	+0.0062%	8h	65.620	+0.005%	$29K	$1K	5x	as long as short
Aster XAGUSDT	+0.0074%	4h	65.645	+0.043%	$2.7M	$944K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0076%	1h	65.627	+0.015%	$171.0M	$82.3M	25x	as long as short
Kalshi KXSILVERPERPlong	+0.0076%	24h	65.617	long leg	$461K	$29.3M	8.1x
Hotstuff SILVER-PERP	+0.0096%	1h	65.606	−0.017%	$35K	$21K	20x	as long as short
Bybit XAGUSDT	+0.0098%	4h	65.680	+0.096%	$28.9M	$39.2M	150x	as long as short
Pacifica XAG	+0.0100%	1h	65.580	−0.056%	$468K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.610	−0.011%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.680	+0.096%	$112K	$23K	50x	as long as short
Variational Omni XAG	+0.0120%	4h	65.674	+0.086%	$5.5M	$9.5M	—	as long as short
Binance XAGUSDT	+0.0124%	4h	65.657	+0.060%	$188.8M	$745.6M	100x	as long as short
Lighter XAG	+0.0128%	1h	65.649	+0.049%	$5.4M	$11.4M	25x	as long as short
MEXC SILVER_USDT	+0.0128%	4h	65.660	+0.066%	$112.7M	$162.4M	1000x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.650	+0.050%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0148%	4h	65.729	+0.171%	$669K	$313K	30x	as long as short
Nado XAG-PERP	+0.0148%	1h	65.589	−0.042%	$1.3M	$5.6M	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.690	+0.111%	$1.6M	$1.3M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0194%	4h	65.738	+0.184%	$389K	$1.5M	25x	as long as short
Aftermath Perps XAGUSD	+0.0207%	1h	65.610	−0.011%	$79K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.640	+0.035%	$66K	$368K	20x	as long as short
Bitget XAGUSDT	+0.0208%	4h	65.670	+0.081%	$23.8M	$46.3M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0210%	8h	65.660	+0.066%	$27.9M	$70.2M	50x	as long as short
Bullet SILVER-USD	+0.0235%	1h	65.658	+0.063%	$44K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0321% / S −0.0301%	1h	65.665	+0.073%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0369%	4h	65.660	+0.066%	$2.6M	$622K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0469%	1h	65.617	0.000%	$915K	$735K	25x	as long as short