Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h +0.003%

Price spread now: Gate against Kalshi−0.002%48s7-day average +0.130% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.314% of the position

Long on Kalshi Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.047%+$5 on $10k

Price spread, last 7 days+0.140%+$14 · spread now −0.002%, 7d avg +0.130%

Together, before fees+0.187%+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.132% cheaper against Kalshi than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.130%). Swap the legs. The two prices were read 48 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	Kalshi KXSILVERPERP	66.411	0.0059	pay 0.0178% / 24h	12h 57m	$548K	$23.0M	8.1x
Short	Gate XAG_USDT	66.410	0	get 0.0000% / 4h	2h 57m	$154.1M	$159.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.002%Rate

Funding earned: −$12.44
Price spread: −0.002% → +0.130%: −$13.16
Slippage, 4 orders: −$6.41
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$57
Costs to cover: 0.314%
Break-even: never at this rate

Slippage from Kalshi: live order book, 2 min ago; Gate: 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 Kalshi live order book, 2 min ago	0.23 bp	7.5 bp −$8	8.0 bp −$80	11.6 bp −$1,159	doesn't fit
Sell Gate live order book, 2 min ago	0.75 bp	9.3 bp −$9	9.7 bp −$97	12.6 bp −$1,258	15.0 bp −$7,486

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	66.325	−0.129%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.440	+0.044%	$25.9M	$35.7M	150x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.369	−0.063%	$35K	$21K	20x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.410	−0.002%	$154.1M	$159.7M	100x
SunX XAG-USDT	0.0000%	4h	66.420	+0.014%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.430	+0.029%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.470	+0.089%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.348	−0.095%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.377	−0.051%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.350	−0.092%	$5.4M	$12.5M	10x	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	+0.0033%	1h	66.320	−0.137%	$5.7M	$9.5M	25x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.017%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.450	+0.059%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.852	+0.664%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.369	−0.063%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.390	−0.032%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.342	−0.104%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.410	−0.002%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0059%	24h	66.411	long leg	$548K	$23.0M	8.1x
RISEx XAG/USDC	+0.0079%	1h	66.424	+0.020%	$1.2M	$4.3M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0092%	1h	66.384	−0.041%	$165.7M	$85.2M	25x	as long as short
Aster XAGUSDT	+0.0096%	4h	66.418	+0.011%	$2.8M	$1.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.371	−0.060%	$473K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.380	−0.047%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.390	−0.032%	$126K	$23K	50x	as long as short
Variational Omni XAG	+0.0108%	4h	66.543	+0.199%	$5.6M	$9.8M	—	as long as short
Paradex XAG-USD-PERP	+0.0112%	8h	66.414	+0.004%	$30K	$1K	5x	as long as short
edgeX XAGUSDC	+0.0123%	4h	66.509	+0.147%	$675K	$316K	30x	as long as short
MEXC SILVER_USDT	+0.0124%	4h	66.410	−0.002%	$108.1M	$156.0M	1000x	as long as short
Binance XAGUSDT	+0.0126%	4h	66.415	+0.006%	$193.2M	$714.6M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.406	−0.008%	$48K	—	10x	as long as short
Lighter XAG	+0.0160%	1h	66.386	−0.038%	$5.3M	$10.4M	25x	as long as short
BloFin XAG-USDT	+0.0169%	4h	66.450	+0.059%	$2.6M	$686K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.380	−0.047%	$1.9M	$962K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	66.454	+0.065%	$402K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0194%	8h	66.410	−0.002%	$28.0M	$66.6M	50x	as long as short
Bitget XAGUSDT	+0.0198%	4h	66.420	+0.014%	$24.5M	$46.4M	100x	as long as short
Aftermath Perps XAGUSD	+0.0207%	1h	66.441	+0.045%	$80K	$39K	10x	as long as short
Nado XAG-PERP	+0.0247%	1h	66.373	−0.057%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0255%	1h	66.431	+0.030%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.425	+0.021%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.371	−0.061%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.400	−0.017%	$50K	$331K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.377	−0.051%	$765K	$552K	25x	as long as short