Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0127%/8h= −13.9% APRpaid last 24h −0.054%

Price spread now: Kalshi against Nado+0.040%7-day average −0.079% · 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−$8as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Nado Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.079%−$8 on $10k

Price spread, last 7 days−0.138%−$14 · spread now +0.040%, 7d avg −0.079%

Together, before fees−0.216%+ Points / potential airdropNado: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.119% dearer against Nado than usual: you sell high and buy low (spread +0.040% now, against its 7-day average of −0.079%): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XAG-PERP	66.092	0.0196	pay 0.0024% / 1h	32m 47s	$1.3M	$6.5M	10x
Short	Kalshi KXSILVERPERP	66.118	0.0069	get 0.0206% / 24h	10h 32m	$521K	$25.5M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Nado. 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 NadobpFee KalshibpOrdersPrice spread, now +0.040%Rate

Funding earned: −$26.67
Price spread: +0.040% → −0.079%: $11.9
Slippage, 4 orders: −$3.26
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$35.03
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Nado: live order book, 1 min ago; Kalshi: 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 Nado live order book, 1 min ago	0.08 bp	4.0 bp −$4	7.8 bp −$78	30.6 bp −$3,062	doesn't fit
Sell Kalshi live order book, 1 min ago	0.15 bp	5.3 bp −$5	5.7 bp −$57	10.7 bp −$1,074	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	66.022	−0.105%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.160	+0.103%	$150.1M	$163.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.160	+0.103%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.160	+0.103%	$1.0M	$971K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.150	+0.088%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.074	−0.027%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.125	+0.051%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.073	−0.029%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.466%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.120	+0.043%	$795K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.573	+0.728%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.114	+0.034%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.115	+0.035%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.068	−0.036%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.020	−0.109%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.140	+0.073%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.080	−0.018%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERPshort	+0.0069%	24h	66.118	+0.040%	$521K	$25.5M	8.1x
Pacifica XAG	+0.0100%	1h	66.091	−0.001%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	+0.027%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.050	−0.063%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0133%	1h	66.111	+0.029%	$165.5M	$74.0M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.146	+0.081%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.100	+0.013%	$2.7M	$876K	100x	as long as short
Paradex XAG-USD-PERP	+0.0151%	8h	66.145	+0.080%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0160%	4h	66.170	+0.118%	$27.0M	$36.1M	150x	as long as short
Nado XAG-PERPlong	+0.0196%	1h	66.092	long leg	$1.3M	$6.5M	10x
Lighter XAG	+0.0200%	1h	66.137	+0.068%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.140	+0.073%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	+0.058%	$1.8M	$999K	20x	as long as short
BloFin XAG-USDT	+0.0205%	4h	66.160	+0.103%	$2.6M	$554K	100x	as long as short
Variational Omni XAG	+0.0210%	4h	66.123	+0.048%	$5.6M	$9.7M	—	as long as short
MEXC SILVER_USDT	+0.0216%	4h	66.150	+0.088%	$109.3M	$152.5M	1000x	as long as short
Binance XAGUSDT	+0.0216%	4h	66.150	+0.088%	$192.8M	$700.8M	100x	as long as short
Aftermath Perps XAGUSD	+0.0229%	1h	66.095	+0.004%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.150	+0.088%	$27.8M	$65.5M	50x	as long as short
edgeX XAGUSDC	+0.0235%	4h	66.098	+0.010%	$671K	$312K	30x	as long as short
Bitget XAGUSDT	+0.0260%	4h	66.140	+0.073%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.121	+0.043%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0309%	1h	66.163	+0.108%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.120	+0.043%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.060	−0.048%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0376% / S −0.0411%	1h	66.155	+0.096%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.114	+0.033%	$912K	$676K	25x	as long as short