Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0230%/8h= −25.2% APRpaid last 24h −0.078%

Price spread now: Kalshi against Hibachi+0.056%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hibachi Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHibachi: Active · farm boardneeds both histories

The price spread pays, funding is against you. Kalshi is 0.056% dearer against Hibachi than usual: you sell high and buy low (spread +0.056% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 19 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hibachi XAG/USDT-P	66.100	0.0296	pay 0.0037% / 1h	0m 51s	$20K	$19K	10x
Short	Kalshi KXSILVERPERP	66.137	0.0066	get 0.0199% / 24h	11h 00m	$545K	$24.8M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Hibachi. 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 HibachibpFee KalshibpOrdersPrice spread, now +0.056%Rate

Funding earned: −$48.26
Price spread: +0.056% → 0.000%: $5.6
Slippage, 4 orders: no order book: not counted
Fee Hibachi: 4.5 bp × 2 orders: −$9
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$61.66
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hibachi: no order-book sample; Kalshi: live order book, 3 min ago. Net counts fees only.

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 Hibachi no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	0.83 bp	6.6 bp −$7	6.9 bp −$69	11.1 bp −$1,113	doesn't fit

Hibachi: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.020%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.134	+0.051%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.190	+0.136%	$149.9M	$165.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.210	+0.166%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.210	+0.166%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.220	+0.182%	$1.5M	$256K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.114	+0.020%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.169	+0.104%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.108	+0.012%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.454%	$11K	$94K	52x	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	+0.0039%	1h	66.050	−0.076%	$5.7M	$9.7M	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.150	+0.076%	$796K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.594	+0.747%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.133	+0.050%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.108	+0.012%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.160	+0.091%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0066%	24h	66.137	+0.056%	$545K	$24.8M	8.1x
Phoenix SILVER	+0.0084%	1h	66.097	−0.005%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.145	+0.068%	$165.4M	$73.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.114	+0.021%	$470K	$612K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.130	+0.045%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.110	+0.015%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0124%	4h	66.180	+0.121%	$2.7M	$877K	100x	as long as short
Paradex XAG-USD-PERP	+0.0129%	8h	66.164	+0.097%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0134%	4h	66.190	+0.136%	$26.9M	$36.0M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.177	+0.116%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0181%	4h	66.181	+0.123%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.179	+0.120%	$1.3M	$4.4M	20x	as long as short
Lighter XAG	+0.0184%	1h	66.176	+0.115%	$5.2M	$10.6M	25x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.170	+0.106%	$107.8M	$154.4M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.180	+0.121%	$1.8M	$1.0M	20x	as long as short
Binance XAGUSDT	+0.0192%	4h	66.180	+0.121%	$192.3M	$704.5M	100x	as long as short
edgeX XAGUSDC	+0.0198%	4h	66.162	+0.094%	$671K	$315K	30x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.150	+0.076%	$63K	$337K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.180	+0.121%	$27.7M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.118	+0.028%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0228%	1h	66.141	+0.063%	$80K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0233%	4h	66.180	+0.121%	$2.6M	$551K	100x	as long as short
Bitget XAGUSDT	+0.0240%	4h	66.180	+0.121%	$23.8M	$45.6M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0256%	4h	66.163	+0.095%	$397K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0273%	1h	66.190	+0.135%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-Plong	+0.0296%	1h	66.100	long leg	$20K	$19K	10x
GMX SILVER/USD [ETH-USDC]	L +0.0362% / S −0.0390%	1h	66.195	+0.144%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.148	+0.073%	$913K	$674K	25x	as long as short