Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0029%/8h= +3.1% APRpaid last 24h −0.015%

Price spread now: Kalshi against Polymarket Perps0.000%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$220.223% of the position

Long on Polymarket Perps Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 7 days−0.056%−$6 · spread now 0.000%, 7d avg −0.012%

Together, before fees−0.152%−$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.012%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.096%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps SILVER-USD	65.357	0.0050	pay 0.0006% / 1h	57m 10s	$3.8M	$856K	20x
Short	Kalshi KXSILVERPERP	65.357	0.0079	get 0.0236% / 24h	6h 57m	$483K	$31.5M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Polymarket Perps. 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 Polymarket PerpsbpFee KalshibpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.01
Price spread: 0.000% → −0.012%: $1.19
Slippage, 4 orders: −$4.32
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$15.13
Costs to cover: 0.223%
Break-even: 24.6 days

Slippage from Polymarket Perps: live order book, 2 min ago; Kalshi: live order book, 2 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 Polymarket Perps live order book, 2 min ago	0.08 bp	4.6 bp −$5	4.9 bp −$49	6.9 bp −$686	doesn't fit
Sell Kalshi live order book, 2 min ago	0.08 bp	5.5 bp −$5	6.3 bp −$63	10.1 bp −$1,014	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	65.293	−0.098%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.440	+0.127%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	+0.050%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.430	+0.112%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.420	+0.096%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.351	−0.009%	$118K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0009%	1h	65.270	−0.133%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	65.360	+0.005%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0030%	4h	65.314	−0.066%	$5.5M	$9.2M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.420	+0.096%	$4.6M	$9.7M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.345	−0.018%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.596%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.430	+0.112%	$141.4M	$176.2M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	−0.041%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.410	+0.081%	$2.7M	$954K	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.390	+0.050%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.797	+0.673%	—	—	25x	as long as short
Polymarket Perps SILVER-USDlong	+0.0050%	1h	65.357	long leg	$3.8M	$856K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.358	+0.002%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.369	+0.018%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.420	+0.096%	$116.9M	$156.0M	1000x	as long as short
Binance XAGUSDT	+0.0055%	4h	65.420	+0.096%	$191.7M	$763.2M	100x	as long as short
Phoenix SILVER	+0.0061%	1h	65.294	−0.096%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0066%	4h	65.316	−0.063%	$665K	$315K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.408	+0.078%	$47K	—	10x	as long as short
tradeXYZ xyz:SILVER	+0.0078%	1h	65.365	+0.012%	$170.6M	$83.2M	25x	as long as short
Kalshi KXSILVERPERPshort	+0.0079%	24h	65.357	0.000%	$483K	$31.5M	8.1x
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.230	−0.194%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.320	−0.057%	$469K	$621K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.360	+0.005%	$25.3M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.260	−0.148%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.409	+0.080%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0142%	4h	65.325	−0.049%	$391K	$1.6M	25x	as long as short
Lighter XAG	+0.0144%	1h	65.424	+0.102%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0152%	1h	65.288	−0.106%	$20K	$18K	10x	as long as short
Nado XAG-PERP	+0.0153%	1h	65.348	−0.014%	$1.2M	$5.1M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.420	+0.096%	$23.7M	$45.9M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	65.430	+0.112%	$28.2M	$71.0M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.410	+0.081%	$66K	$385K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.296	−0.093%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0220%	4h	65.380	+0.035%	$2.7M	$599K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.415	+0.089%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0248%	1h	65.372	+0.023%	$44K	$75K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.379	+0.034%	$1.0M	$874K	25x	as long as short