Funding you earn now, next payment 01:00 UTC+0.0012%/8h= +1.4% APRpaid last 24h −0.014%
Price spread now: Kalshi against Phoenix−0.078%46s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.134%−$13 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding pays, the price is against you. Kalshi is 0.078% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.078% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 21 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.134%, so the current rate has only just turned in your favour. The two prices were read 46 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 | Phoenix SILVER | 66.413 | 0.0048 | pay 0.0006% / 1h | 37m 27s | $56K | $26K | 25x |
| Short | Kalshi KXSILVERPERP | 66.361 | 0.0061 | get 0.0182% / 24h | 12h 37m | $577K | $23.1M | 8.1x |
Phoenix SILVER
Kalshi KXSILVERPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kalshi against Phoenix. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $2.62
- Price spread: −0.078% → 0.000%
- −$7.83
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Kalshi: 5 bp × 2 orders
- −$10
- Net
- −$22.21
- Costs to cover
- 0.170%
- Break-even
- 66.3 days
Slippage unknown: Phoenix: no order-book sample; Kalshi: live order book, 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Kalshi live order book, 2 min ago | 0.30 bp | 7.2 bp −$7 | 7.4 bp −$74 | 11.4 bp −$1,144 | doesn't fit |
Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 66.294 | −0.178% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.340 | −0.110% | $153.3M | $162.2M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.360 | −0.080% | $2K | $2.8M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.550 | +0.206% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.400 | −0.020% | $1.5M | $250K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.278 | −0.203% | $120K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.366 | −0.071% | $4.8M | $9.5M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.310 | −0.155% | $5.4M | $12.5M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | −0.020% | $11K | $94K | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 66.420 | +0.011% | $799K | $2.9M | 40x | as long as short |
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USDShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Vest SI-PERP | +0.0046% | 1h | 66.810 | +0.598% | — | — | 25x | as long as short |
| Phoenix SILVERlong | +0.0048% | 1h | 66.413 | long leg | $56K | $26K | 25x | |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.314 | −0.149% | $3.9M | $669K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.303 | −0.166% | $3K | $6K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 66.280 | −0.200% | $5.7M | $9.5M | 25x | as long as short |
| QFEX SILVER-USD | +0.0054% | 1h | 66.360 | −0.080% | $115K | $2.7M | 20x | as long as short |
| Kalshi KXSILVERPERPshort | +0.0061% | 24h | 66.361 | −0.078% | $577K | $23.1M | 8.1x | |
| RISEx XAG/USDC | +0.0079% | 1h | 66.375 | −0.057% | $1.2M | $4.3M | 20x | as long as short |
| Bybit XAGUSDT | +0.0080% | 4h | 66.360 | −0.080% | $26.4M | $35.9M | 150x | as long as short |
| tradeXYZ xyz:SILVER | +0.0094% | 1h | 66.307 | −0.160% | $165.5M | $76.0M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.328 | −0.128% | $472K | $605K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.320 | −0.140% | $24.5M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.470 | +0.086% | $126K | $23K | 50x | as long as short |
| BloFin XAG-USDT | +0.0103% | 4h | 66.570 | +0.236% | $2.6M | $624K | 100x | as long as short |
| Aster XAGUSDT | +0.0118% | 4h | 66.360 | −0.080% | $2.7M | $967K | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0123% | 8h | 66.372 | −0.061% | $30K | $1K | 5x | as long as short |
| Variational Omni XAG | +0.0129% | 4h | 66.505 | +0.138% | $5.5M | $9.8M | — | as long as short |
| Aevo XAG-PERP | +0.0144% | 1h | 66.333 | −0.120% | $48K | — | 10x | as long as short |
| MEXC SILVER_USDT | +0.0152% | 4h | 66.340 | −0.110% | $102.1M | $158.1M | 1000x | as long as short |
| Binance XAGUSDT | +0.0153% | 4h | 66.340 | −0.110% | $192.5M | $708.1M | 100x | as long as short |
| Lighter XAG | +0.0160% | 1h | 66.377 | −0.055% | $5.3M | $10.5M | 25x | as long as short |
| edgeX XAGUSDC | +0.0166% | 4h | 66.514 | +0.151% | $675K | $314K | 30x | as long as short |
| Coinbase International SILVER-PERP-INTX | +0.0184% | 1h | 66.520 | +0.161% | $1.9M | $967K | 20x | as long as short |
| OKX XAG-USDT-SWAP | +0.0197% | 8h | 66.360 | −0.080% | $27.9M | $65.9M | 50x | as long as short |
| Aftermath Perps XAGUSD | +0.0221% | 1h | 66.427 | +0.022% | $80K | $38K | 10x | as long as short |
| Hotstuff SILVER-PERP | +0.0224% | 1h | 66.368 | −0.068% | $35K | $21K | 20x | as long as short |
| Bitget XAGUSDT | +0.0226% | 4h | 66.340 | −0.110% | $24.2M | $46.1M | 100x | as long as short |
| Nado XAG-PERP | +0.0229% | 1h | 66.324 | −0.134% | $1.3M | $6.5M | 10x | as long as short |
| GRVT XAG_USDT_Perp | +0.0242% | 4h | 66.526 | +0.169% | $391K | $1.5M | 25x | as long as short |
| Hibachi XAG/USDT-P | +0.0272% | 1h | 66.473 | +0.090% | $20K | $22K | 10x | as long as short |
| Bullet SILVER-USD | +0.0278% | 1h | 66.353 | −0.090% | $45K | $76K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0292% / S −0.0281% | 1h | 66.345 | −0.102% | $103K | — | 111x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0353% | 1h | 66.350 | −0.095% | $50K | $325K | 20x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0463% | 1h | 66.346 | −0.101% | $765K | $472K | 25x | as long as short |
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
QFEX SILVER-USD
RISEx XAG/USDC
Bybit XAGUSDT
tradeXYZ xyz:SILVER
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
BloFin XAG-USDT
Aster XAGUSDT
Paradex XAG-USD-PERP
Variational Omni XAG
Aevo XAG-PERP
MEXC SILVER_USDT
Binance XAGUSDT
Lighter XAG
edgeX XAGUSDC
Coinbase International SILVER-PERP-INTX
OKX XAG-USDT-SWAP
Aftermath Perps XAGUSD
Hotstuff SILVER-PERP
Bitget XAGUSDT
Nado XAG-PERP
GRVT XAG_USDT_Perp
Hibachi XAG/USDT-P
Bullet SILVER-USD
GMX SILVER/USD [ETH-USDC]
Deribit SILVER_USDC-PERPETUAL
Kraken Futures PF_XAGUSD