Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0015%/8h= +1.6% APRpaid last 24h −0.015%

Price spread now: Kalshi against SoDEX+0.069%55s7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Kalshi is 0.069% dearer against SoDEX than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 55 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	SoDEX SILVER-USD	66.284	0.0050	pay 0.0006% / 1h	21m 19s	$3K	$6K	20x
Short	Kalshi KXSILVERPERP	66.330	0.0065	get 0.0194% / 24h	11h 21m	$537K	$24.6M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now +0.069%Rate

Funding earned: $3.1
Price spread: +0.069% → 0.000%: $6.94
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$7.96
Costs to cover: 0.180%
Break-even: 25.0 days

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 3 min ago	0.30 bp	7.0 bp −$7	7.2 bp −$72	11.5 bp −$1,147	doesn't fit

SoDEX: 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	66.268	−0.024%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.324	+0.060%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.370	+0.130%	$150.4M	$164.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.360	+0.115%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.380	+0.145%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.350	+0.100%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.287	+0.005%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.346	+0.093%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.287	+0.005%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.175%	$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	66.290	+0.009%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.788	+0.760%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.306	+0.033%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USDlong	+0.0050%	1h	66.284	long leg	$3K	$6K	20x
Ondo Perps XAG-USD.P	+0.0050%	1h	66.230	−0.081%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.340	+0.084%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0065%	24h	66.330	+0.069%	$537K	$24.6M	8.1x
Phoenix SILVER	+0.0084%	1h	66.304	+0.030%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.323	+0.059%	$166.1M	$73.5M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.299	+0.023%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	+0.054%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.340	+0.084%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0132%	8h	66.349	+0.097%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0134%	4h	66.350	+0.100%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0147%	4h	66.380	+0.145%	$26.9M	$36.1M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.346	+0.093%	$48K	—	10x	as long as short
BloFin XAG-USDT	+0.0181%	4h	66.340	+0.084%	$2.6M	$553K	100x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.365	+0.122%	$1.3M	$4.5M	20x	as long as short
Variational Omni XAG	+0.0184%	4h	66.321	+0.056%	$5.6M	$9.8M	—	as long as short
Lighter XAG	+0.0192%	1h	66.353	+0.105%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.320	+0.054%	$1.8M	$996K	20x	as long as short
MEXC SILVER_USDT	+0.0194%	4h	66.360	+0.115%	$106.0M	$153.7M	1000x	as long as short
Binance XAGUSDT	+0.0195%	4h	66.357	+0.110%	$192.2M	$705.4M	100x	as long as short
Nado XAG-PERP	+0.0214%	1h	66.308	+0.036%	$1.3M	$6.6M	10x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.339	+0.083%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.360	+0.115%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.307	+0.034%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0244%	4h	66.360	+0.115%	$23.9M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.396	+0.169%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.300	+0.024%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.359	+0.113%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0353% / S −0.0375%	1h	66.355	+0.107%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.350	+0.100%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.324	+0.060%	$915K	$671K	25x	as long as short