Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0039%/8h= −4.3% APRpaid last 24h +0.019%

Price spread now: Extended against Kalshi−0.038%7-day average +0.042% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on Kalshi Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.107%+$11 on $10k

Price spread, last 7 days+0.122%+$12 · spread now −0.038%, 7d avg +0.042%

Together, before fees+0.229%+ Points / potential airdropExtended: Active · farm board+$23 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Extended is 0.080% cheaper against Kalshi than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.042%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.107%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kalshi KXSILVERPERP	66.040	0.0071	pay 0.0214% / 24h	10h 07m	$547K	$25.4M	8.1x
Short	Extended XAG-USD	66.015	0.0032	get 0.0004% / 1h	7m 36s	$5.2M	$11.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$8.25
Price spread: −0.038% → +0.042%: −$8.04
Slippage, 4 orders: −$5.04
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$36.34
Costs to cover: 0.200%
Break-even: never at this rate

Slippage from Kalshi: live order book, 1 min ago; Extended: 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, 1 min ago	0.76 bp	5.8 bp −$6	5.8 bp −$58	9.0 bp −$896	doesn't fit
Sell Extended live order book, 1 min ago	0.08 bp	4.4 bp −$4	5.8 bp −$58	12.1 bp −$1,206	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	66.018	−0.033%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.100	+0.091%	$150.1M	$163.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.060	+0.030%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.136%	$1.0M	$968K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.130	+0.136%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.993	−0.071%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.074	+0.052%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USDshort	+0.0032%	1h	66.015	−0.038%	$5.2M	$11.5M	10x
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.545%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.110	+0.106%	$795K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Ondo Perps XAG-USD.P	+0.0044%	1h	65.960	−0.121%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.517	+0.722%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.057	+0.026%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.057	+0.026%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.996	−0.067%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.090	+0.076%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.053	+0.020%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERPlong	+0.0071%	24h	66.040	long leg	$547K	$25.4M	8.1x
Pacifica XAG	+0.0100%	1h	66.033	−0.011%	$470K	$615K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.060	+0.030%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.030	−0.015%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0127%	1h	66.053	+0.020%	$166.0M	$73.5M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.077	+0.055%	$1.3M	$4.6M	20x	as long as short
Paradex XAG-USD-PERP	+0.0144%	8h	66.084	+0.067%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0149%	4h	66.080	+0.061%	$2.7M	$868K	100x	as long as short
Bybit XAGUSDT	+0.0172%	4h	66.120	+0.121%	$27.1M	$36.1M	150x	as long as short
Lighter XAG	+0.0184%	1h	66.078	+0.057%	$5.3M	$10.8M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.075	+0.053%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.020	−0.030%	$1.8M	$1.0M	20x	as long as short
Variational Omni XAG	+0.0204%	4h	66.063	+0.034%	$5.6M	$9.5M	—	as long as short
MEXC SILVER_USDT	+0.0214%	4h	66.090	+0.076%	$110.7M	$153.0M	1000x	as long as short
Nado XAG-PERP	+0.0215%	1h	66.038	−0.003%	$1.4M	$6.4M	10x	as long as short
Binance XAGUSDT	+0.0217%	4h	66.100	+0.091%	$192.7M	$699.9M	100x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.069	+0.044%	$80K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0227%	4h	66.058	+0.027%	$670K	$311K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0235%	8h	66.090	+0.076%	$27.7M	$65.0M	50x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.100	+0.091%	$23.8M	$45.4M	100x	as long as short
BloFin XAG-USDT	+0.0264%	4h	66.120	+0.121%	$2.6M	$554K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0276%	4h	66.090	+0.076%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0290%	1h	66.081	+0.062%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.050	+0.015%	$75K	$362K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0383% / S −0.0424%	1h	66.075	+0.053%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0384%	1h	66.054	+0.020%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.045	+0.008%	$911K	$683K	25x	as long as short