Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0055%/8h= −6.0% APRpaid last 24h +0.029%

Price spread now: Variational Omni against Kalshi−0.016%55s7-day average +0.104% · you buy dearer than you sell

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

Long on Kalshi Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.041%+$4 on $10k

Price spread, last 7 days+0.103%+$10 · spread now −0.016%, 7d avg +0.104%

Together, before fees+0.144%+ Points / potential airdropVariational Omni: Active · farm board+$14 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 Variational Omni is 0.119% cheaper against Kalshi than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of +0.104%). Swap the legs. 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	Kalshi KXSILVERPERP	65.588	0.0107	pay 0.0320% / 24h	2h 55m	$792K	$38.8M	8.1x
Short	Variational Omni XAG	65.578	0.0052	get 0.0026% / 4h	55m 24s	$5.6M	$9.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.016%Rate

Funding earned: −$11.54
Price spread: −0.016% → +0.104%: −$11.94
Slippage, 4 orders: no order book: not counted
Fee Kalshi: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$33.48
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kalshi: live order book, 2 min ago; Variational Omni: RFQ quote, 2 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 Kalshi live order book, 2 min ago	0.91 bp	6.9 bp −$7	7.1 bp −$71	12.7 bp −$1,266	doesn't fit
Sell Variational Omni RFQ quote, 2 min ago	2.58 bp	doesn't fit	3.3 bp −$33	doesn't fit	doesn't fit

XAG on 44 exchanges

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
Hotstuff SILVER-PERP	−0.0104%	1h	65.591	+0.005%	$39K	$26K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.521	−0.101%	$13K	$8K	5x	as long as short
RISEx XAG/USDC	0.0000%	1h	65.589	+0.001%	$1.3M	$5.4M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	65.590	+0.003%	$136.5M	$198.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.610	+0.034%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.620	+0.049%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.600	+0.018%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.526	−0.094%	$118K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0004%	1h	65.490	−0.149%	$5.7M	$11.1M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.588	0.000%	$4.6M	$9.5M	25x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.529	−0.090%	$5.1M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.503%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.610	+0.034%	$789K	$3.0M	40x	as long as short
Bybit XAGUSDT	+0.0041%	4h	65.620	+0.049%	$30.5M	$48.1M	150x	as long as short
QFEX SILVER-USD	+0.0042%	1h	65.570	−0.027%	$446K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	66.026	+0.668%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.560	−0.043%	$3.8M	$905K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.528	−0.091%	$3K	$6K	20x	as long as short
Variational Omni XAGshort	+0.0052%	4h	65.578	−0.016%	$5.6M	$9.0M	—
Paradex XAG-USD-PERP	+0.0052%	8h	65.571	−0.026%	$29K	—	5x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.560	−0.043%	$77K	$409K	20x	as long as short
Aster XAGUSDT	+0.0074%	4h	65.590	+0.003%	$2.7M	$1.2M	100x	as long as short
Binance XAGUSDT	+0.0076%	4h	65.592	+0.006%	$190.3M	$863.2M	100x	as long as short
MEXC SILVER_USDT	+0.0076%	4h	65.580	−0.012%	$114.4M	$162.8M	1000x	as long as short
edgeX XAGUSDC	+0.0087%	4h	65.624	+0.055%	$669K	$313K	30x	as long as short
Aevo XAG-PERP	+0.0088%	1h	65.576	−0.018%	$47K	—	10x	as long as short
GRVT XAG_USDT_Perp	+0.0096%	4h	65.674	+0.131%	$389K	$1.6M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	65.557	−0.047%	$175.6M	$93.1M	25x	as long as short
Pacifica XAG	+0.0100%	1h	65.532	−0.085%	$462K	$520K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.550	−0.058%	$25.3M	$4.3M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.610	+0.034%	$112K	$19K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.710	+0.186%	$1.6M	$1.9M	20x	as long as short
Kalshi KXSILVERPERPlong	+0.0107%	24h	65.588	long leg	$792K	$38.8M	8.1x
Phoenix SILVER	+0.0122%	1h	65.584	−0.006%	$55K	$15K	25x	as long as short
Lighter XAG	+0.0128%	1h	65.587	−0.002%	$5.3M	$11.8M	25x	as long as short
Nado XAG-PERP	+0.0141%	1h	65.560	−0.042%	$1.2M	$3.4M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0178%	8h	65.600	+0.018%	$27.9M	$85.7M	50x	as long as short
Bitget XAGUSDT	+0.0214%	4h	65.600	+0.018%	$23.1M	$52.8M	100x	as long as short
Bullet SILVER-USD	+0.0217%	1h	65.594	+0.009%	$45K	$73K	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	65.595	+0.010%	$21K	$12K	10x	as long as short
Aftermath Perps XAGUSD	+0.0226%	1h	65.623	+0.053%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0281% / S −0.0253%	1h	65.595	+0.011%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0316%	4h	65.670	+0.125%	$2.7M	$785K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0540%	1h	65.574	−0.021%	$1.0M	$943K	25x	as long as short