Silver Perps on Kalshi: Funding, Leverage and Liquidation Price
Live from Kalshi's public data: what a XAG perp costs to hold, how much leverage you get, and where a position gets liquidated. Trades 24/7.
Silver funding since launch
| Funding time (ET) | Rate | Who paid | On $10,000 long |
|---|---|---|---|
| Sep 25, 10 AM | +0.0149% | Longs → shorts | −$1.49 |
| Sep 24, 10 AM | +0.0162% | Longs → shorts | −$1.62 |
| Sep 23, 10 AM | +0.0125% | Longs → shorts | −$1.25 |
| Sep 22, 10 AM | +0.0351% | Longs → shorts | −$3.51 |
| Sep 21, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 20, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 19, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 18, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 17, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 16, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 15, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 14, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 13, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 12, 10 AM | 0.0000% | Nobody | $0.00 |
| Sep 11, 10 AM | +0.0292% | Longs → shorts | −$2.92 |
Where a XAG position gets liquidated
Entry at $64.11, $1,000 of margin. The quick rule is 100 ÷ leverage; the estimate includes Kalshi's maintenance margin (opening margin ÷ 1.3). Kalshi's app shows your exact figure once a position is open.
| Leverage | Quick rule | Long liquidates at | Short liquidates at |
|---|---|---|---|
| 2x | 50% | $35.33 (44.9%) | $88.66 (38.3%) |
| 3x | 33% | $47.10 (26.5%) | $78.81 (22.9%) |
| 5x | 20% | $56.53 (11.8%) | $70.93 (10.6%) |
Run your own XAG position
The quick rule (100 ÷ leverage) says 33%. Kalshi's maintenance margin eats part of that cushion, so the real distance is closer to 26.5%. Estimate from Kalshi's published risk parameters; the app shows your exact number once the position is open.
Kalshi doesn't list a monthly Silver ladder to hedge against yet. BTC, ETH, SOL, XRP, DOGE, gold and silver have one.
Live from Kalshi's public perps API, Sep 25, 2026, 9:30 PM ET. Funding uses the XAG 30-day average per daily window (+0.0072%); a single print can run to Kalshi's ±2% cap. Liquidation ignores fees and funding already paid, which pull it closer. See every print on the Silver perps page.
What to know about Silver perps
Silver perps launched Sept. 10, 2026 after CFTC approval, trade around the clock, and fund once a day at 10 a.m. ET instead of three times. They carry the most leverage on Kalshi, which also means the thinnest cushion: at max leverage a normal day’s move can liquidate you. If you stack physical metal, a perp is a very different animal: no storage, no premium over spot, but a funding bill and a liquidation price.
Reference price: Pyth silver index (always-on pricing; Kalshi / Pyth announcement, Sept 2026).
Frequently Asked Questions
What is the funding rate on Kalshi Silver perps?
Silver funds once a day at 10 a.m. ET. Since launch the average has worked out to 2.6% a year paid by longs, and 67% of the 15 prints paid nothing because Kalshi rounds rates under 0.01% to zero. The most recent print was +0.0149%.
How much leverage can I use on Kalshi Silver perps?
At a $1,000 position Kalshi allowed about 8.3x long and 9.1x short when this page last refreshed. Bigger positions get less.
What are the fees on Kalshi Silver perps?
Kalshi charges perps fees on the full notional value of the position (margin × leverage), once to open and once to close. At the entry tier that is 0.120% for a taker fill and 0.020% for a resting maker fill; rates step down as your 30-day volume grows, and Kalshi counts your prediction-market volume toward that tier, not just perps.
Can I hedge a Silver perp with a Kalshi event contract?
Yes. Kalshi lists a Silver monthly close ladder. It settles on a closing price rather than a touch, so it only pays if the price is still past the strike at the close. It is a partial hedge, not a perfect one. The perps calculator on this page finds the right strike and prices it.
Perps carry leverage and can lose your entire margin quickly. Numbers are read from Kalshi's public API and our own math; PredictionMarketsPicks is independent of Kalshi. Trade responsibly.
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