Funding arb · Price arb /

XAG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0012%/8h= +1.3% APRpaid last 24h −0.015%

Price spread now: Kalshi against SoDEX+0.057%7-day average — · you sell dearer than you buy

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

Long on SoDEX Short on Kalshi

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and Kalshi is 0.057% dearer against SoDEX than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX SILVER-USD	66.304	0.0050	pay 0.0006% / 1h	14m 08s	$3K	$6K	20x
Short	Kalshi KXSILVERPERP	66.342	0.0062	get 0.0186% / 24h	12h 14m	$609K	$23.8M	8.1x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kalshi against SoDEX. 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 SoDEXbpFee KalshibpOrdersPrice spread, now +0.057%Rate

Funding earned: $2.52
Price spread: +0.057% → 0.000%: $5.73
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Kalshi: 5 bp × 2 orders: −$10
Net: −$9.75
Costs to cover: 0.180%
Break-even: 34.0 days

Slippage unknown: SoDEX: no order-book sample; Kalshi: live order book, 5 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 SoDEX no order-book sample	—	—	—	—	—
Sell Kalshi live order book, 5 min ago	0.08 bp	8.9 bp −$9	9.2 bp −$92	12.5 bp −$1,254	doesn't fit

SoDEX: 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 43 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	66.296	−0.012%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.360	+0.084%	$153.2M	$164.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.360	+0.084%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.400	+0.145%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.410	+0.160%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.299	−0.007%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.366	+0.093%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.301	−0.004%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.145%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.410	+0.160%	$799K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.793	+0.738%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0048%	1h	66.230	−0.112%	$5.7M	$9.6M	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.402	+0.148%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.308	+0.006%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USDlong	+0.0050%	1h	66.304	long leg	$3K	$6K	20x
QFEX SILVER-USD	+0.0054%	1h	66.330	+0.039%	$115K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.305	+0.002%	$35K	$21K	20x	as long as short
Kalshi KXSILVERPERPshort	+0.0062%	24h	66.342	+0.057%	$609K	$23.8M	8.1x
RISEx XAG/USDC	+0.0079%	1h	66.337	+0.049%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.312	+0.012%	$165.9M	$76.2M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.284	−0.030%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	+0.039%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.380	+0.115%	$126K	$23K	50x	as long as short
Aster XAGUSDT	+0.0133%	4h	66.350	+0.069%	$2.7M	$942K	100x	as long as short
Bybit XAGUSDT	+0.0135%	4h	66.370	+0.100%	$26.6M	$36.4M	150x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.330	+0.040%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0166%	4h	66.373	+0.104%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.358	+0.082%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0180%	4h	66.370	+0.100%	$102.8M	$158.6M	1000x	as long as short
Binance XAGUSDT	+0.0181%	4h	66.360	+0.084%	$192.2M	$706.4M	100x	as long as short
edgeX XAGUSDC	+0.0184%	4h	66.421	+0.177%	$674K	$315K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	+0.160%	$1.9M	$971K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.352	+0.073%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0211%	8h	66.360	+0.084%	$28.0M	$65.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.320	+0.024%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0225%	1h	66.283	−0.031%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0235%	1h	66.331	+0.041%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0248%	4h	66.360	+0.084%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0266%	4h	66.450	+0.220%	$395K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0288%	1h	66.377	+0.110%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.375	+0.107%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.323	+0.029%	$765K	$478K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.370	+0.100%	$50K	$325K	20x	as long as short