To establish the general statistical mechanical properties of highly conductive but selective nano-filters we develop an equilibrium statistical-mechanical theory of the KcsA filter, find the probabilities for the filter to bind ions from the mixed intra- and extra-cellular solutions, and evaluate the conductivity of the filter in its linear response regime. The results provide first principles analytical resolution of the long-standing paradox - how can narrow filter conduct potassium ions at nearly the rate of free diffusion while strongly selecting them over sodium ions - and are applicable to a wide range of biological and artificial channels.