Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h −0.055%

Price spread now: Kalshi against Nado+0.002%7-day average −0.080% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Nado Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.071%−$7 on $10k

Price spread, last 7 days−0.084%−$8 · spread now +0.002%, 7d avg −0.080%

Together, before fees−0.155%+ Points / potential airdropNado: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.082% dearer against Nado than usual: you sell high and buy low (spread +0.002% now, against its 7-day average of −0.080%): +$8 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.1 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Nado XAG-PERP	66.409	0.0188	pay 0.0023% / 1h	59m 07s	$1.3M	$6.5M	10x
Short	Kalshi KXSILVERPERP	66.410	0.0059	get 0.0178% / 24h	12h 59m	$583K	$22.6M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against Nado. 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 NadobpFee KalshibpOrdersPrice spread, now +0.002%Rate

Funding earned: −$26.99
Price spread: +0.002% → −0.080%: $8.2
Slippage, 4 orders: −$5.14
Fee Nado: 3.5 bp × 2 orders: −$7
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$40.93
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Nado: live order book, 5 min ago; Kalshi: live order book, 5 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 Nado live order book, 5 min ago	0.08 bp	4.1 bp −$4	8.3 bp −$83	29.1 bp −$2,909	doesn't fit
Sell Kalshi live order book, 5 min ago	0.90 bp	6.5 bp −$6	7.0 bp −$70	11.9 bp −$1,191	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	66.475	+0.100%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.410	+0.002%	$25.5M	$35.8M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	−0.029%	$154.3M	$159.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.410	+0.002%	$2K	$2.9M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.460	+0.077%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.430	+0.032%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.355	−0.082%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.378	−0.046%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.358	−0.077%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.013%	$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	66.530	+0.182%	$801K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.901	+0.741%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.518	+0.164%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0048%	1h	66.507	+0.148%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.429	+0.030%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.339	−0.105%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.380	−0.044%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.470	+0.092%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0059%	24h	66.410	+0.002%	$583K	$22.6M	8.1x
tradeXYZ xyz:SILVER	+0.0078%	1h	66.361	−0.072%	$165.5M	$85.1M	25x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.496	+0.131%	$1.2M	$4.2M	20x	as long as short
Aster XAGUSDT	+0.0097%	4h	66.417	+0.012%	$2.8M	$1.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.484	+0.113%	$474K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.410	+0.002%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.530	+0.182%	$127K	$24K	50x	as long as short
Variational Omni XAG	+0.0108%	4h	66.543	+0.202%	$5.6M	$9.8M	—	as long as short
Paradex XAG-USD-PERP	+0.0112%	8h	66.511	+0.154%	$30K	$1K	5x	as long as short
Bullet SILVER-USD	+0.0121%	1h	66.440	+0.047%	$45K	$76K	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.400	−0.013%	$108.4M	$155.7M	1000x	as long as short
edgeX XAGUSDC	+0.0123%	4h	66.552	+0.216%	$675K	$315K	30x	as long as short
Binance XAGUSDT	+0.0124%	4h	66.411	+0.004%	$193.1M	$720.0M	100x	as long as short
Lighter XAG	+0.0128%	1h	66.400	−0.013%	$5.3M	$10.3M	25x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.395	−0.021%	$48K	—	10x	as long as short
BloFin XAG-USDT	+0.0169%	4h	66.450	+0.062%	$2.6M	$686K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.002%	$1.9M	$965K	20x	as long as short
Nado XAG-PERPlong	+0.0188%	1h	66.409	long leg	$1.3M	$6.5M	10x
OKX XAG-USDT-SWAP	+0.0193%	8h	66.410	+0.002%	$27.9M	$66.6M	50x	as long as short
GRVT XAG_USDT_Perp	+0.0194%	4h	66.551	+0.214%	$402K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0196%	4h	66.390	−0.029%	$24.6M	$46.6M	100x	as long as short
Aftermath Perps XAGUSD	+0.0208%	1h	66.478	+0.104%	$80K	$39K	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.505	+0.144%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.415	+0.009%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.380	−0.044%	$50K	$331K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.392	−0.025%	$766K	$562K	25x	as long as short