Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.030%

Price spread now: Kalshi against RISEx−0.053%7-day average −0.102% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$210.213% of the position

Long on RISEx Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.066%−$7 on $10k

Price spread, last 7 days−0.041%−$4 · spread now −0.053%, 7d avg −0.102%

Together, before fees−0.108%−$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kalshi is 0.049% dearer against RISEx than usual: you sell high and buy low (spread −0.053% now, against its 7-day average of −0.102%): +$5 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 33 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	RISEx XAG/USDC	66.365	0.0181	pay 0.0023% / 1h	21m 32s	$1.3M	$4.5M	20x
Short	Kalshi KXSILVERPERP	66.330	0.0065	get 0.0194% / 24h	11h 21m	$537K	$24.6M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against RISEx. 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 RISExbpFee KalshibpOrdersPrice spread, now −0.053%Rate

Funding earned: −$24.51
Price spread: −0.053% → −0.102%: $4.89
Slippage, 4 orders: −$5.32
Fee RISEx: 3 bp × 2 orders: −$6
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$40.95
Costs to cover: 0.213%
Break-even: never at this rate

Slippage from RISEx: 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 RISEx live order book, 2 min ago	0.55 bp	3.6 bp −$4	4.7 bp −$47	doesn't fit	doesn't fit
Sell Kalshi live order book, 2 min ago	0.30 bp	7.0 bp −$7	7.2 bp −$72	11.5 bp −$1,147	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	66.268	−0.146%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.324	−0.062%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.370	+0.008%	$150.3M	$164.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.340	−0.038%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.380	+0.023%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.350	−0.023%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.270	−0.143%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.346	−0.029%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.293	−0.109%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.053%	$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	66.290	−0.113%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.788	+0.637%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.306	−0.089%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.268	−0.146%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.230	−0.203%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.340	−0.038%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0065%	24h	66.330	−0.053%	$537K	$24.6M	8.1x
Phoenix SILVER	+0.0084%	1h	66.304	−0.092%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.323	−0.063%	$166.1M	$73.5M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.299	−0.099%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	−0.068%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.340	−0.038%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0132%	8h	66.349	−0.025%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0134%	4h	66.350	−0.023%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0147%	4h	66.370	+0.008%	$26.9M	$36.1M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.343	−0.033%	$48K	—	10x	as long as short
BloFin XAG-USDT	+0.0181%	4h	66.340	−0.038%	$2.6M	$553K	100x	as long as short
RISEx XAG/USDClong	+0.0181%	1h	66.365	long leg	$1.3M	$4.5M	20x
Variational Omni XAG	+0.0184%	4h	66.321	−0.066%	$5.6M	$9.8M	—	as long as short
Lighter XAG	+0.0192%	1h	66.353	−0.017%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	−0.023%	$1.9M	$995K	20x	as long as short
MEXC SILVER_USDT	+0.0194%	4h	66.350	−0.023%	$106.0M	$153.7M	1000x	as long as short
Binance XAGUSDT	+0.0195%	4h	66.350	−0.023%	$192.2M	$705.4M	100x	as long as short
Nado XAG-PERP	+0.0214%	1h	66.308	−0.087%	$1.3M	$6.6M	10x	as long as short
edgeX XAGUSDC	+0.0215%	4h	66.339	−0.039%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0216%	8h	66.360	−0.008%	$27.7M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0232%	1h	66.307	−0.088%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0244%	4h	66.350	−0.023%	$23.8M	$45.6M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.396	+0.046%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.300	−0.098%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.354	−0.016%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0352% / S −0.0374%	1h	66.345	−0.030%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.320	−0.068%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.322	−0.065%	$915K	$671K	25x	as long as short