Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0076%/8h= +8.4% APRpaid last 24h 0.000%

Price spread now: Kalshi against SunX−0.073%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$75as in the Price arb table

costs, in and out, $10k−$790.792% of the position

Long on SunX Short on Kalshi

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)−0.042%−$4 · spread now −0.073%, 7d avg −0.111%

Together, before fees−0.042%−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kalshi is 0.039% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.111%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	65.760	0	get 0.0000% / 4h	2h 07m	$2K	$2.6M	20x
Short	Kalshi KXSILVERPERP	65.712	0.0076	get 0.0229% / 24h	8h 07m	$488K	$29.1M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SunX. 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 SunXbpFee KalshibpOrdersPrice spread, now −0.073%Rate

Funding earned: $16.03
Price spread: −0.073% → −0.111%: $3.85
Slippage, 4 orders: −$61.24
Fee SunX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$59.36
Costs to cover: 0.792%
Break-even: 32.9 days

Slippage from SunX: live order book, 10 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 SunX live order book, 10 min ago	29.80 bp	33.8 bp −$34	doesn't fit	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	0.69 bp	5.7 bp −$6	6.3 bp −$63	11.2 bp −$1,120	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	−0.0016%	1h	65.620	−0.213%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0002%	1h	65.660	−0.152%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.698	−0.095%	$12K	$5K	5x	as long as short
SunX XAG-USDTlong	0.0000%	4h	65.760	long leg	$2K	$2.6M	20x
HTX XAG-USDT	0.0000%	4h	65.760	0.000%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.720	−0.061%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.709	−0.078%	$119K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.751	−0.013%	$1.2M	$4.9M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	65.721	−0.059%	$4.7M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.705	−0.083%	$5.2M	$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	+0.973%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0036%	4h	65.750	−0.015%	$144.6M	$180.8M	100x	as long as short
Phoenix SILVER	+0.0036%	1h	65.648	−0.170%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.670	−0.137%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.172	+0.627%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.716	−0.067%	$3.9M	$711K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.697	−0.096%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.730	−0.046%	$157K	$2.8M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0054%	1h	65.730	−0.046%	$66K	$368K	20x	as long as short
Paradex XAG-USD-PERP	+0.0063%	8h	65.739	−0.032%	$29K	$1K	5x	as long as short
Kalshi KXSILVERPERPshort	+0.0076%	24h	65.712	−0.073%	$488K	$29.1M	8.1x
tradeXYZ xyz:SILVER	+0.0078%	1h	65.694	−0.100%	$171.2M	$82.2M	25x	as long as short
Aster XAGUSDT	+0.0083%	4h	65.740	−0.030%	$2.7M	$944K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.702	−0.089%	$469K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.720	−0.061%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.580	−0.274%	$112K	$23K	50x	as long as short
Bybit XAGUSDT	+0.0113%	4h	65.750	−0.015%	$28.9M	$39.2M	150x	as long as short
Variational Omni XAG	+0.0127%	4h	65.584	−0.268%	$5.5M	$9.5M	—	as long as short
Lighter XAG	+0.0128%	1h	65.735	−0.038%	$5.4M	$11.4M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	65.746	−0.021%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0133%	4h	65.730	−0.046%	$189.0M	$746.1M	100x	as long as short
MEXC SILVER_USDT	+0.0134%	4h	65.730	−0.046%	$113.1M	$162.0M	1000x	as long as short
edgeX XAGUSDC	+0.0147%	4h	65.560	−0.304%	$667K	$312K	30x	as long as short
Nado XAG-PERP	+0.0150%	1h	65.706	−0.082%	$1.3M	$5.5M	10x	as long as short
Hotstuff SILVER-PERP	+0.0168%	1h	65.708	−0.079%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.690	−0.106%	$1.6M	$1.3M	20x	as long as short
Aftermath Perps XAGUSD	+0.0205%	1h	65.567	−0.294%	$79K	$37K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0208%	4h	65.644	−0.176%	$398K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	65.730	−0.046%	$27.9M	$70.3M	50x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.740	−0.030%	$23.9M	$46.3M	100x	as long as short
Bullet SILVER-USD	+0.0240%	1h	65.756	−0.007%	$44K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0361%	1h	65.765	+0.008%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0373%	4h	65.730	−0.046%	$2.6M	$622K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0469%	1h	65.727	−0.051%	$917K	$735K	25x	as long as short