The kinetics of intercluster metal atom exchange reactions between solvated [Ag25(DMBT)18]- and [Au25(PET)18]- (DMBT and PET are 2,4-dimethylbenzenethiol and 2-phenylethanethiol, respectively, both C8H10S) were probed by electrospray ionization mass spectrometry and computer-based modeling. Anion mass spectra and collision induced dissociation (CID) measurements show that both cluster monomers and dimers are involved in the reactions. We have modeled the corresponding kinetics assuming a reaction mechanism in which metal atom exchange occurs through transient dimers. Our kinetic model contains three types of generic reactions: dimerization of monomers, metal atom exchange in the transient dimers, and dissociation of the dimers to monomers. There are correspondingly 377 discrete species connected by in total 1302 reactions (i.e., dimerization, dissociation and atom exchange reactions) leading to the entire series of monomeric and dimeric products [AgmAu25-m]- (m = 1-24) and [AgmAu50-m]2- (m = 0-50), respectively. The rate constants of the corresponding reactions were fitted to the experimental data, and good agreement was obtained with exchange rate constants which scale with the probability of finding a silver or gold atom in the respective monomeric subunit of the dimer, i.e., reflecting an entropic driving force for alloying. Allowing the dimerization rate constant to scale with increasing gold composition of the respective reactants improves the agreement further. The rate constants obtained are physically plausible, thus strongly supporting dimer-mediated metal atom exchange in this intercluster reaction system. © 2021 American Chemical Society. All rights reserved.