Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0085%/8h= −9.4% APRpaid last 24h +0.005%

Price spread now: Lighter against Binance+0.001%7-day average −0.038% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$120.122% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.136%+$14 on $10k

Price spread, last 7 days−0.023%−$2 · spread now +0.001%, 7d avg −0.038%

Together, before fees+0.113%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.039% dearer against Binance than usual: you sell high and buy low (spread +0.001% now, against its 7-day average of −0.038%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 36 hours. Mind the row above: over the last 7 days funding on this pair paid +0.136%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	66.010	0.0189	pay 0.0095% / 4h	3h 24m	$191.0M	$701.7M	100x
Short	Lighter XAG	66.011	0.0104	get 0.0013% / 1h	24m 56s	$5.2M	$10.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now +0.001%Rate

Funding earned: −$17.93
Price spread: +0.001% → −0.038%: $3.88
Slippage, 4 orders: −$2.15
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$26.2
Costs to cover: 0.122%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Lighter: live order book, 3 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 Binance live order book, 4 min ago	0.76 bp	5.8 bp −$6	6.4 bp −$64	8.8 bp −$881	18.0 bp −$8,989
Sell Lighter live order book, 3 min ago	0.26 bp	0.3 bp $0	0.8 bp −$8	5.6 bp −$561	19.7 bp −$9,854

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
Ondo Perps XAG-USD.P	−0.0054%	1h	65.900	−0.167%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.934	−0.116%	$14K	—	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.030	+0.030%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.060	+0.076%	$1.0M	$964K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.030	+0.030%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.965	−0.068%	$120K	—	250x	as long as short
Gate XAG_USDT	+0.0006%	4h	66.030	+0.030%	$149.8M	$163.8M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.009	−0.001%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.958	−0.079%	$5.2M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.591%	$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	66.030	+0.030%	$794K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.449	+0.665%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.990	−0.030%	$3.9M	$674K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.965	−0.068%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	65.985	−0.038%	$165.9M	$73.8M	25x	as long as short
Paradex XAG-USD-PERP	+0.0057%	8h	66.010	0.000%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.000	−0.015%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	65.955	−0.083%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	65.998	−0.018%	$517K	$26.1M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0080%	1h	65.996	−0.021%	$35K	$21K	20x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.020	+0.015%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.968	−0.063%	$470K	$608K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.970	−0.061%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.980	−0.045%	$113K	$30K	50x	as long as short
Lighter XAGshort	+0.0104%	1h	66.011	+0.001%	$5.2M	$10.7M	25x
Bybit XAGUSDT	+0.0122%	4h	66.030	+0.030%	$27.7M	$36.6M	150x	as long as short
Aster XAGUSDT	+0.0133%	4h	66.018	+0.011%	$2.7M	$871K	100x	as long as short
Nado XAG-PERP	+0.0171%	1h	65.987	−0.034%	$1.4M	$5.8M	10x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.012	+0.003%	$47K	—	10x	as long as short
Variational Omni XAG	+0.0178%	4h	66.013	+0.004%	$5.6M	$9.4M	—	as long as short
Binance XAGUSDTlong	+0.0189%	4h	66.010	long leg	$191.0M	$701.7M	100x
MEXC SILVER_USDT	+0.0190%	4h	66.010	0.000%	$114.6M	$152.5M	1000x	as long as short
BloFin XAG-USDT	+0.0191%	4h	66.030	+0.030%	$2.6M	$562K	100x	as long as short
Aftermath Perps XAGUSD	+0.0196%	1h	65.980	−0.045%	$79K	$36K	10x	as long as short
edgeX XAGUSDC	+0.0196%	4h	66.015	+0.007%	$670K	$310K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0204%	4h	66.021	+0.017%	$394K	$1.5M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0205%	1h	66.010	0.000%	$75K	$363K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	65.950	−0.091%	$1.8M	$1.0M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0228%	8h	66.030	+0.030%	$27.7M	$64.6M	50x	as long as short
Bullet SILVER-USD	+0.0228%	1h	66.024	+0.021%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0232%	4h	66.010	0.000%	$23.9M	$45.2M	100x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	65.981	−0.044%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.025	+0.023%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	65.997	−0.020%	$911K	$683K	25x	as long as short