Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0066%/8h= −7.2% APRpaid last 24h 0.000%

Price spread now: SunX against Kalshi+0.089%7-day average +0.114% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$82as in the Price arb table

costs, in and out, $10k−$800.800% of the position

Long on Kalshi Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.104%+$10 · spread now +0.089%, 7d avg +0.114%

Together, before fees+0.104%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and SunX is 0.024% cheaper against Kalshi than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.114%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	66.101	0.0066	pay 0.0198% / 24h	11h 02m	$544K	$24.8M	8.1x
Short	SunX XAG-USDT	66.160	0	get 0.0000% / 4h	1h 02m	$2K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.089%Rate

Funding earned: −$13.85
Price spread: +0.089% → +0.114%: −$2.44
Slippage, 4 orders: −$61.99
Fee Kalshi: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$96.28
Costs to cover: 0.800%
Break-even: never at this rate

Slippage from Kalshi: live order book, 1 min ago; SunX: 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, 1 min ago	0.83 bp	6.5 bp −$7	7.4 bp −$74	10.6 bp −$1,064	doesn't fit
Sell SunX live order book, 5 min ago	29.47 bp	33.5 bp −$33	63.1 bp −$631	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
dYdX XAG-USD	0.0000%	1h	66.087	−0.021%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.160	+0.089%	$149.8M	$165.2M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.160	+0.089%	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.190	+0.135%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.170	+0.104%	$1.5M	$255K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.090	−0.016%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.133	+0.048%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.079	−0.033%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.452%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.100	−0.002%	$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	+0.0042%	1h	66.020	−0.123%	$5.7M	$9.7M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.580	+0.725%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.110	+0.014%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.085	−0.024%	$3K	$6K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.100	−0.002%	$35K	$21K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.140	+0.059%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0066%	24h	66.101	long leg	$544K	$24.8M	8.1x
Phoenix SILVER	+0.0084%	1h	66.097	−0.006%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0093%	1h	66.108	+0.011%	$165.3M	$73.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.090	−0.017%	$470K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	+0.014%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.120	+0.029%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0122%	4h	66.120	+0.029%	$2.7M	$878K	100x	as long as short
Paradex XAG-USD-PERP	+0.0128%	8h	66.137	+0.055%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0134%	4h	66.160	+0.089%	$26.9M	$36.0M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.148	+0.070%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.142	+0.062%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.149	+0.073%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.125	+0.036%	$5.2M	$10.6M	25x	as long as short
MEXC SILVER_USDT	+0.0188%	4h	66.140	+0.059%	$106.7M	$154.2M	1000x	as long as short
Binance XAGUSDT	+0.0191%	4h	66.144	+0.066%	$192.2M	$704.6M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.180	+0.120%	$1.8M	$1.0M	20x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.162	+0.093%	$671K	$315K	30x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.130	+0.044%	$63K	$337K	20x	as long as short
BloFin XAG-USDT	+0.0207%	4h	66.160	+0.089%	$2.6M	$551K	100x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.140	+0.059%	$27.7M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0224%	1h	66.085	−0.024%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.129	+0.042%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0238%	4h	66.160	+0.089%	$23.8M	$45.6M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0254%	4h	66.140	+0.059%	$396K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0272%	1h	66.161	+0.091%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.066	−0.053%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0361% / S −0.0389%	1h	66.165	+0.097%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0551%	1h	66.117	+0.024%	$912K	$674K	25x	as long as short