Funding you earn now, next payment 07:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h −0.041%
Price spread now: Kalshi against Lighter−0.031%7-day average −0.077% · you buy dearer than you sell
Net, funding: paid 7d − costs−$32as in the Funding arb table
Net, price: spread back to 7d avg − costs−$8as in the Price arb table
costs, in and out, $10k−$130.127% of the position
Funding, last 7 days−0.198%−$20 on $10k
+Price spread, last 7 days−0.049%−$5 · spread now −0.031%, 7d avg −0.077%
=Together, before fees−0.246%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Kalshi is 0.045% dearer against Lighter than usual: you sell high and buy low (spread −0.031% now, against its 7-day average of −0.077%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.9 days. At the pace of the last 7 days (−0.198% in total) that is about 38 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XAG | 65.404 | 0.0096 | pay 0.0012% / 1h | 41m 52s | $5.4M | $11.3M | 25x |
| Short | Kalshi KXSILVERPERP | 65.383 | 0.0077 | get 0.0231% / 24h | 7h 41m | $491K | $30.2M | 8.1x |
Lighter XAG
Kalshi KXSILVERPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Lighter. 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
- −$3.99
- Price spread: −0.031% → −0.077%
- $4.52
- Slippage, 4 orders
- −$2.71
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$12.19
- Costs to cover
- 0.127%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 7 min ago; Kalshi: 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 Lighter live order book, 7 min ago | 0.59 bp | 0.6 bp −$1 | 0.7 bp −$7 | 4.7 bp −$466 | 15.3 bp −$7,657 |
| Sell Kalshi live order book, 2 min ago | 0.46 bp | 5.9 bp −$6 | 6.4 bp −$64 | 10.8 bp −$1,078 | 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 | −0.0120% | 1h | 65.374 | −0.046% | $20K | $20K | 10x | as long as short |
| Ondo Perps XAG-USD.P | −0.0083% | 1h | 65.280 | −0.189% | $5.6M | $9.7M | 25x | as long as short |
| Hotstuff SILVER-PERP | −0.0024% | 1h | 65.383 | −0.031% | $35K | $21K | 20x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 65.350 | −0.082% | $12K | $5K | 5x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.420 | +0.025% | $2K | $2.6M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 65.460 | +0.086% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 65.420 | +0.025% | $1.5M | $281K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.366 | −0.057% | $118K | — | 250x | as long as short |
| Bybit XAGUSDT | +0.0021% | 4h | 65.410 | +0.010% | $28.4M | $39.6M | 150x | as long as short |
| Gate XAG_USDT | +0.0026% | 4h | 65.400 | −0.006% | $141.3M | $181.0M | 100x | as long as short |
Hibachi XAG/USDT-P
Ondo Perps XAG-USD.P
Hotstuff SILVER-PERP
dYdX XAG-USD
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Bybit XAGUSDT
Gate XAG_USDTShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter RH XAG | +0.0032% | 1h | 65.401 | −0.004% | $4.6M | $9.8M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 65.329 | −0.113% | $5.1M | $11.6M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | +1.523% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 65.420 | +0.025% | $787K | $3.0M | 40x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 65.829 | +0.650% | — | — | 25x | as long as short |
| Aster XAGUSDT | +0.0046% | 4h | 65.400 | −0.006% | $2.7M | $973K | 100x | as long as short |
| QFEX SILVER-USD | +0.0050% | 1h | 65.400 | −0.006% | $152K | $2.8M | 20x | as long as short |
| tradeXYZ xyz:SILVER | +0.0050% | 1h | 65.375 | −0.044% | $170.3M | $83.8M | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.369 | −0.053% | $3.8M | $718K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.322 | −0.125% | $3K | $6K | 20x | as long as short |
| Paradex XAG-USD-PERP | +0.0058% | 8h | 65.384 | −0.030% | $29K | $1K | 5x | as long as short |
| RISEx XAG/USDC | +0.0061% | 1h | 65.410 | +0.009% | $1.3M | $4.9M | 20x | as long as short |
| Phoenix SILVER | +0.0061% | 1h | 65.384 | −0.030% | $56K | $31K | 25x | as long as short |
| Variational Omni XAG | +0.0070% | 4h | 65.414 | +0.015% | $5.5M | $9.4M | — | as long as short |
| Kalshi KXSILVERPERPshort | +0.0077% | 24h | 65.383 | −0.031% | $491K | $30.2M | 8.1x | |
| Binance XAGUSDT | +0.0078% | 4h | 65.400 | −0.005% | $189.8M | $763.7M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0078% | 4h | 65.370 | −0.051% | $115.1M | $157.1M | 1000x | as long as short |
| Aevo XAG-PERP | +0.0088% | 1h | 65.409 | +0.008% | $47K | — | 10x | as long as short |
| edgeX XAGUSDC | +0.0090% | 4h | 65.433 | +0.045% | $666K | $314K | 30x | as long as short |
| Lighter XAGlong | +0.0096% | 1h | 65.404 | long leg | $5.4M | $11.3M | 25x | |
| Pacifica XAG | +0.0100% | 1h | 65.342 | −0.094% | $467K | $627K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.350 | −0.082% | $24.6M | $5.0M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 65.410 | +0.010% | $112K | $19K | 50x | as long as short |
| Nado XAG-PERP | +0.0109% | 1h | 65.366 | −0.058% | $1.2M | $5.5M | 10x | as long as short |
| GRVT XAG_USDT_Perp | +0.0120% | 4h | 65.397 | −0.009% | $397K | $1.6M | 25x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0120% | 1h | 65.380 | −0.036% | $1.6M | $1.4M | 20x | as long as short |
| Bullet SILVER-USD | +0.0152% | 1h | 65.425 | +0.033% | $43K | $77K | 10x | as long as short |
| Bitget XAGUSDT | +0.0186% | 4h | 65.410 | +0.010% | $23.8M | $46.6M | 100x | as long as short |
| OKX XAG-USDT-SWAP | +0.0190% | 8h | 65.410 | +0.010% | $27.9M | $71.4M | 50x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0209% | 1h | 65.400 | −0.006% | $65K | $373K | 20x | as long as short |
| Aftermath Perps XAGUSD | +0.0211% | 1h | 65.399 | −0.008% | $79K | $37K | 10x | as long as short |
| BloFin XAG-USDT | +0.0317% | 4h | 65.450 | +0.071% | $2.6M | $616K | 100x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0318% / S −0.0301% | 1h | 65.425 | +0.033% | $93K | — | 111x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0492% | 1h | 65.382 | −0.034% | $916K | $746K | 25x | as long as short |
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USD
Vest SI-PERP
Aster XAGUSDT
QFEX SILVER-USD
tradeXYZ xyz:SILVER
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Paradex XAG-USD-PERP
RISEx XAG/USDC
Phoenix SILVER
Variational Omni XAG
Binance XAGUSDT
MEXC SILVER_USDT
Aevo XAG-PERP
edgeX XAGUSDC
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
Nado XAG-PERP
GRVT XAG_USDT_Perp
Coinbase International SILVER-PERP-INTX
Bullet SILVER-USD
Bitget XAGUSDT
OKX XAG-USDT-SWAP
Deribit SILVER_USDC-PERPETUAL
Aftermath Perps XAGUSD
BloFin XAG-USDT
GMX SILVER/USD [ETH-USDC]
Kraken Futures PF_XAGUSD