Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0163%/8h= +17.9% APRpaid last 24h +0.054%

Price spread now: Nado against Kalshi+0.003%7-day average +0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$230.229% of the position

Long on Kalshi Short on Nado

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.073%+$7 on $10k

Price spread, last 7 days+0.077%+$8 · spread now +0.003%, 7d avg +0.080%

Together, before fees+0.150%+ Points / potential airdropNado: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. Nado is 0.077% cheaper against Kalshi than usual: you would sell low and buy high (spread +0.003% now, against its 7-day average of +0.080%). If the spread goes back, that is −$8 on $10k: about 38 hours of funding at the current rate (+$5 a day). At the pace of the last 3 days (+0.073% in total) that is about 3.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	66.304	0.0062	pay 0.0186% / 24h	12h 13m	$610K	$24.1M	8.1x
Short	Nado XAG-PERP	66.306	0.0225	get 0.0028% / 1h	13m 13s	$1.3M	$6.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Nado 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 NadobpOrdersPrice spread, now +0.003%Rate

Funding earned: $34.33
Price spread: +0.003% → +0.080%: −$7.7
Slippage, 4 orders: −$5.87
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Nado: 3.5 bp × 2 orders: −$7
Net: $3.76
Costs to cover: 0.229%
Break-even: 6.2 days

Slippage from Kalshi: live order book, 6 min ago; Nado: live order book, 1 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 Kalshi live order book, 6 min ago	0.08 bp	5.2 bp −$5	5.3 bp −$53	9.2 bp −$921	doesn't fit
Sell Nado live order book, 1 min ago	0.08 bp	4.7 bp −$5	8.5 bp −$85	35.5 bp −$3,548	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	−0.012%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.320	+0.024%	$153.1M	$164.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.330	+0.039%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.350	+0.069%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.370	+0.100%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.249	−0.083%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.304	0.000%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.248	−0.084%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.145%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.410	+0.160%	$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	66.762	+0.691%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0047%	1h	66.220	−0.127%	$5.7M	$9.6M	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.297	−0.011%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.286	−0.027%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.247	−0.086%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.310	+0.009%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0062%	24h	66.304	long leg	$610K	$24.1M	8.1x
RISEx XAG/USDC	+0.0079%	1h	66.330	+0.039%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.278	−0.039%	$165.8M	$76.2M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.296	−0.012%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.280	−0.036%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.350	+0.069%	$126K	$23K	50x	as long as short
Hotstuff SILVER-PERP	+0.0112%	1h	66.316	+0.018%	$35K	$21K	20x	as long as short
Bybit XAGUSDT	+0.0131%	4h	66.350	+0.069%	$26.6M	$36.4M	150x	as long as short
Aster XAGUSDT	+0.0132%	4h	66.306	+0.003%	$2.7M	$942K	100x	as long as short
Paradex XAG-USD-PERP	+0.0137%	8h	66.338	+0.051%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0166%	4h	66.373	+0.104%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.307	+0.004%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0180%	4h	66.320	+0.024%	$102.7M	$158.6M	1000x	as long as short
Binance XAGUSDT	+0.0181%	4h	66.335	+0.047%	$192.1M	$706.8M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.160%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.315	+0.017%	$5.3M	$10.6M	25x	as long as short
edgeX XAGUSDC	+0.0197%	4h	66.404	+0.152%	$674K	$315K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0212%	8h	66.350	+0.069%	$28.0M	$65.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.320	+0.024%	$20K	$22K	10x	as long as short
Nado XAG-PERPshort	+0.0225%	1h	66.306	+0.003%	$1.3M	$6.5M	10x
Aftermath Perps XAGUSD	+0.0237%	1h	66.322	+0.027%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.330	+0.039%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0266%	4h	66.378	+0.112%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.329	+0.037%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.325	+0.032%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.310	+0.009%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.275	−0.044%	$764K	$478K	25x	as long as short