Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0038%/8h= +4.2% APRpaid last 24h +0.021%

Price spread now: RISEx against Kalshi+0.034%7-day average +0.101% · you sell dearer than you buy

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

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

costs, in and out, $10k−$190.194% of the position

Long on Kalshi Short on RISEx

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.073%+$7 on $10k

Price spread, last 7 days+0.048%+$5 · spread now +0.034%, 7d avg +0.101%

Together, before fees+0.121%+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. RISEx is 0.067% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.034% now, against its 7-day average of +0.101%). If the spread goes back, that is −$7 on $10k: about 5.9 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	65.055	0.0080	pay 0.0241% / 24h	6h 06m	$489K	$32.2M	8.1x
Short	RISEx XAG/USDC	65.077	0.0118	get 0.0015% / 1h	6m 46s	$1.3M	$4.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

RISEx 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 RISExbpOrdersPrice spread, now +0.034%Rate

Funding earned: $8
Price spread: +0.034% → +0.101%: −$6.73
Slippage, 4 orders: −$3.36
Fee Kalshi: 5 bp × 2 orders: −$10
Fee RISEx: 3 bp × 2 orders: −$6
Net: −$18.1
Costs to cover: 0.194%
Break-even: 22.8 days

Slippage from Kalshi: live order book, 2 min ago; RISEx: 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	0.77 bp	5.8 bp −$6	7.3 bp −$73	9.9 bp −$994	doesn't fit
Sell RISEx live order book, 2 min ago	0.76 bp	3.8 bp −$4	5.3 bp −$53	doesn't fit	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
Ondo Perps XAG-USD.P	−0.0025%	1h	64.970	−0.131%	$5.6M	$9.9M	25x	as long as short
Hotstuff SILVER-PERP	−0.0024%	1h	65.035	−0.031%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	64.997	−0.089%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.100	+0.069%	$27.7M	$39.1M	150x	as long as short
Variational Omni XAG	0.0000%	4h	65.227	+0.264%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.090	+0.054%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.150	+0.146%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.100	+0.069%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.023	−0.049%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0030%	4h	65.100	+0.069%	$140.2M	$181.7M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.091	+0.055%	$4.6M	$10.0M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.026	−0.044%	$5.0M	$11.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+2.067%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0034%	4h	65.080	+0.038%	$124.9M	$162.7M	1000x	as long as short
Binance XAGUSDT	+0.0035%	4h	65.099	+0.068%	$191.6M	$755.6M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.110	+0.085%	$783K	$3.0M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.095	+0.062%	$2.7M	$982K	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.070	+0.023%	$170K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.493	+0.673%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.077	+0.033%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.041	−0.022%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.025	−0.046%	$3K	$6K	20x	as long as short
edgeX XAGUSDC	+0.0050%	4h	65.251	+0.301%	$664K	$312K	30x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.071	+0.024%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.076	+0.032%	$56K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0071%	1h	65.059	+0.006%	$172.9M	$84.5M	25x	as long as short
Kalshi KXSILVERPERPlong	+0.0080%	24h	65.055	long leg	$489K	$32.2M	8.1x
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.030	−0.038%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.028	−0.041%	$463K	$598K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.050	−0.008%	$25.2M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.200	+0.223%	$111K	$19K	50x	as long as short
RISEx XAG/USDCshort	+0.0118%	1h	65.077	+0.034%	$1.3M	$4.9M	20x
BloFin XAG-USDT	+0.0136%	4h	65.100	+0.069%	$2.7M	$624K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0144%	4h	65.219	+0.252%	$394K	$1.6M	25x	as long as short
Nado XAG-PERP	+0.0155%	1h	65.031	−0.037%	$1.2M	$4.7M	10x	as long as short
Bitget XAGUSDT	+0.0162%	4h	65.100	+0.069%	$23.2M	$44.9M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0173%	8h	65.090	+0.054%	$28.4M	$70.4M	50x	as long as short
Lighter XAG	+0.0184%	1h	65.087	+0.049%	$5.3M	$11.3M	25x	as long as short
Aftermath Perps XAGUSD	+0.0194%	1h	65.101	+0.071%	$78K	$37K	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	65.052	−0.004%	$20K	$16K	10x	as long as short
Bullet SILVER-USD	+0.0234%	1h	65.077	+0.034%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.075	+0.031%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0365%	1h	65.053	−0.003%	$1.0M	$869K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0365%	1h	65.080	+0.038%	$65K	$398K	20x	as long as short