Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h −0.030%

Price spread now: Kalshi against ApeX Omni−0.057%78s7-day average −0.088% · you buy dearer than you sell

Net, funding: paid 7d − costs−$81as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$600.598% of the position

Long on ApeX Omni Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.057%, 7d avg −0.088%

Together, before fees−0.198%−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.031% dearer against ApeX Omni than usual: you sell high and buy low (spread −0.057% now, against its 7-day average of −0.088%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.7 days. At the pace of the last 7 days (−0.210% in total) that is about 25 hours. The two prices were read 78 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni XAGUSDT	66.380	0.0100	pay 0.0013% / 1h	14m 16s	$126K	$23K	50x
Short	Kalshi KXSILVERPERP	66.342	0.0062	get 0.0186% / 24h	12h 14m	$609K	$23.8M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against ApeX Omni. 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 ApeX OmnibpFee KalshibpOrdersPrice spread, now −0.057%Rate

Funding earned: −$7.98
Price spread: −0.057% → −0.088%: $3.08
Slippage, 4 orders: −$39.76
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$64.66
Costs to cover: 0.598%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 51 min ago; Kalshi: 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 ApeX Omni live order book, 51 min ago	9.02 bp	20.7 bp −$21	59.7 bp −$597	doesn't fit	doesn't fit
Sell Kalshi live order book, 5 min ago	0.08 bp	8.9 bp −$9	9.2 bp −$92	12.5 bp −$1,254	doesn't fit

XAG on 43 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	66.296	−0.127%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.380	0.000%	$153.3M	$164.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.360	−0.030%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.400	+0.030%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.410	+0.045%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.299	−0.122%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.366	−0.022%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.301	−0.118%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.030%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.410	+0.045%	$799K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.793	+0.622%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0048%	1h	66.230	−0.226%	$5.7M	$9.6M	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.402	+0.033%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.308	−0.108%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.304	−0.114%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.330	−0.075%	$115K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.305	−0.113%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0062%	24h	66.342	−0.057%	$609K	$23.8M	8.1x
RISEx XAG/USDC	+0.0079%	1h	66.337	−0.065%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.320	−0.090%	$165.9M	$76.2M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.284	−0.145%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.300	−0.121%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDTlong	+0.0100%	1h	66.380	long leg	$126K	$23K	50x
Aster XAGUSDT	+0.0133%	4h	66.350	−0.045%	$2.7M	$942K	100x	as long as short
Bybit XAGUSDT	+0.0135%	4h	66.400	+0.030%	$26.6M	$36.4M	150x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.330	−0.075%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0166%	4h	66.373	−0.011%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.358	−0.033%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0180%	4h	66.360	−0.030%	$102.7M	$158.6M	1000x	as long as short
Binance XAGUSDT	+0.0181%	4h	66.370	−0.015%	$192.2M	$706.2M	100x	as long as short
edgeX XAGUSDC	+0.0184%	4h	66.421	+0.062%	$674K	$315K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.045%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.352	−0.042%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0211%	8h	66.390	+0.015%	$28.0M	$65.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.320	−0.090%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0225%	1h	66.283	−0.146%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.331	−0.074%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.370	−0.015%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0266%	4h	66.450	+0.105%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0288%	1h	66.377	−0.005%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.375	−0.008%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.323	−0.085%	$765K	$478K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.370	−0.015%	$50K	$325K	20x	as long as short