Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0065%/8h= −7.1% APRpaid last 24h 0.000%

Price spread now: HTX against Kalshi+0.053%58s7-day average +0.152% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as 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−$350.355% of the position

Long on Kalshi Short on HTX

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)+0.140%+$14 · spread now +0.053%, 7d avg +0.152%

Together, before fees+0.140%+$14 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 HTX is 0.099% cheaper against Kalshi than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.152%). Swap the legs. The two prices were read 58 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	Kalshi KXSILVERPERP	66.335	0.0065	pay 0.0194% / 24h	11h 23m	$536K	$24.6M	8.1x
Short	HTX XAG-USDT	66.370	0	get 0.0000% / 4h	1h 23m	$1.0M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$13.57
Price spread: +0.053% → +0.152%: −$9.94
Slippage, 4 orders: −$13.49
Fee Kalshi: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$59
Costs to cover: 0.355%
Break-even: never at this rate

Slippage from Kalshi: live order book, 6 min ago; HTX: live order book, just now.

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, 6 min ago	0.23 bp	6.2 bp −$6	6.5 bp −$65	10.8 bp −$1,076	doesn't fit
Sell HTX live order book, just now	4.52 bp	12.0 bp −$12	12.0 bp −$120	15.2 bp −$1,519	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	66.272	−0.095%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.318	−0.026%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.360	+0.038%	$150.3M	$164.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.370	+0.053%	$2K	$2.7M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.370	+0.053%	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.380	+0.068%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.290	−0.068%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.336	+0.002%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.287	−0.072%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.098%	$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
StandX XAG-USD	+0.0040%	1h	66.340	+0.008%	$798K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.784	+0.677%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.307	−0.042%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.295	−0.060%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.220	−0.173%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.330	−0.008%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0065%	24h	66.335	long leg	$536K	$24.6M	8.1x
Phoenix SILVER	+0.0084%	1h	66.308	−0.041%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.315	−0.030%	$166.1M	$73.4M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.292	−0.065%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.290	−0.068%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.320	−0.023%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0133%	8h	66.335	0.000%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0135%	4h	66.346	+0.016%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0154%	4h	66.380	+0.068%	$26.9M	$36.1M	150x	as long as short
BloFin XAG-USDT	+0.0175%	4h	66.340	+0.008%	$2.6M	$553K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.357	+0.033%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.343	+0.013%	$1.3M	$4.5M	20x	as long as short
Variational Omni XAG	+0.0184%	4h	66.321	−0.020%	$5.6M	$9.8M	—	as long as short
Lighter XAG	+0.0192%	1h	66.343	+0.013%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.023%	$1.9M	$995K	20x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.354	+0.029%	$192.2M	$704.9M	100x	as long as short
MEXC SILVER_USDT	+0.0196%	4h	66.340	+0.008%	$105.4M	$153.6M	1000x	as long as short
Nado XAG-PERP	+0.0212%	1h	66.293	−0.063%	$1.3M	$6.6M	10x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.339	+0.006%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.360	+0.038%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0233%	1h	66.307	−0.042%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.370	+0.053%	$23.8M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.347	+0.018%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.320	−0.023%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0279%	1h	66.362	+0.041%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0352% / S −0.0374%	1h	66.365	+0.045%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.360	+0.038%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.322	−0.019%	$915K	$671K	25x	as long as short