Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0104%/8h= −11.4% APRpaid last 24h −0.046%

Price spread now: Kalshi against OKX−0.112%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.251% of the position

Long on OKX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 7 days0.000%$0 · spread now −0.112%, 7d avg −0.108%

Together, before fees−0.074%−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.108%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAG-USDT-SWAP	65.430	0.0182	pay 0.0182% / 8h	57m 01s	$28.2M	$71.0M	50x
Short	Kalshi KXSILVERPERP	65.357	0.0079	get 0.0236% / 24h	6h 57m	$483K	$31.5M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against OKX. 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 OKXbpFee KalshibpOrdersPrice spread, now −0.112%Rate

Funding earned: −$21.78
Price spread: −0.112% → −0.108%: −$0.4
Slippage, 4 orders: −$5.13
Fee OKX: 5 bp × 2 orders: −$10
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$47.31
Costs to cover: 0.251%
Break-even: never at this rate

Slippage from OKX: live order book, 2 min ago; Kalshi: 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 OKX live order book, 2 min ago	0.76 bp	5.8 bp −$6	7.0 bp −$70	13.9 bp −$1,395	doesn't fit
Sell Kalshi live order book, 2 min ago	0.08 bp	5.5 bp −$5	6.3 bp −$63	10.1 bp −$1,014	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	65.293	−0.209%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.450	+0.031%	$27.8M	$39.6M	150x	as long as short
SunX XAG-USDT	0.0000%	4h	65.390	−0.061%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.430	0.000%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.420	−0.015%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.351	−0.121%	$118K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0009%	1h	65.270	−0.245%	$5.6M	$9.7M	25x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	65.360	−0.107%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0030%	4h	65.314	−0.178%	$5.5M	$9.2M	—	as long as short
Lighter RH XAG	+0.0032%	1h	65.420	−0.016%	$4.6M	$9.7M	25x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended XAG-USD	+0.0032%	1h	65.345	−0.129%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.483%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0034%	4h	65.450	+0.031%	$141.5M	$176.2M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.330	−0.153%	$786K	$2.9M	40x	as long as short
Aster XAGUSDT	+0.0042%	4h	65.410	−0.031%	$2.7M	$954K	100x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.390	−0.061%	$152K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.797	+0.561%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.357	−0.112%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.358	−0.110%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0053%	8h	65.369	−0.093%	$29K	$1K	5x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	65.420	−0.015%	$116.9M	$156.0M	1000x	as long as short
Binance XAGUSDT	+0.0055%	4h	65.435	+0.008%	$191.7M	$763.2M	100x	as long as short
Phoenix SILVER	+0.0061%	1h	65.294	−0.208%	$56K	$31K	25x	as long as short
edgeX XAGUSDC	+0.0066%	4h	65.316	−0.175%	$665K	$315K	30x	as long as short
Aevo XAG-PERP	+0.0072%	1h	65.408	−0.034%	$47K	—	10x	as long as short
Kalshi KXSILVERPERPshort	+0.0079%	24h	65.357	−0.112%	$483K	$31.5M	8.1x
tradeXYZ xyz:SILVER	+0.0081%	1h	65.397	−0.050%	$170.7M	$83.3M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.230	−0.306%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.320	−0.168%	$469K	$621K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.390	−0.061%	$25.4M	$5.0M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.260	−0.260%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.409	−0.032%	$1.2M	$4.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0142%	4h	65.325	−0.161%	$391K	$1.6M	25x	as long as short
Lighter XAG	+0.0144%	1h	65.424	−0.009%	$5.3M	$11.1M	25x	as long as short
Hibachi XAG/USDT-P	+0.0152%	1h	65.288	−0.217%	$20K	$18K	10x	as long as short
Nado XAG-PERP	+0.0153%	1h	65.348	−0.125%	$1.2M	$5.1M	10x	as long as short
Bitget XAGUSDT	+0.0170%	4h	65.430	0.000%	$23.7M	$45.9M	100x	as long as short
OKX XAG-USDT-SWAPlong	+0.0182%	8h	65.430	long leg	$28.2M	$71.0M	50x
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.410	−0.031%	$66K	$385K	20x	as long as short
Aftermath Perps XAGUSD	+0.0210%	1h	65.296	−0.205%	$78K	$37K	10x	as long as short
BloFin XAG-USDT	+0.0220%	4h	65.380	−0.076%	$2.7M	$599K	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.415	−0.023%	$93K	—	111x	as long as short
Bullet SILVER-USD	+0.0248%	1h	65.372	−0.089%	$44K	$75K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.379	−0.078%	$1.0M	$874K	25x	as long as short