Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0062%/8h= −6.8% APRpaid last 24h −0.020%

Price spread now: Lighter RH against Binance−0.026%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$150.153% of the position

Long on Binance Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.010%+$1 on $10k

Price spread, last 2 days (all we have)−0.015%−$2 · spread now −0.026%, 7d avg −0.035%

Together, before fees−0.006%+ Points / potential airdropLighter RH: Points live · farm board−$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.035%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance XAGUSDT	66.434	0.0094	pay 0.0047% / 4h	1h 03m	$191.0M	$729.7M	100x
Short	Lighter RH XAG	66.416	0.0032	get 0.0004% / 1h	3m 58s	$4.8M	$9.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$13.11
Price spread: −0.026% → −0.035%: $0.87
Slippage, 4 orders: −$5.3
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$27.54
Costs to cover: 0.153%
Break-even: never at this rate

Slippage from Binance: live order book, 10 min ago; Lighter RH: live order book, 5 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, 10 min ago	0.75 bp	5.8 bp −$6	5.8 bp −$58	8.8 bp −$877	21.4 bp −$10.7K
Sell Lighter RH live order book, 5 min ago	0.73 bp	0.7 bp −$1	1.4 bp −$14	17.4 bp −$1,740	doesn't fit

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
Kraken Futures PF_XAGUSD	−0.0271%	1h	66.397	−0.055%	$768K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.359	−0.113%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.450	+0.025%	$25.7M	$33.5M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.435	+0.002%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.430	−0.006%	$146.5M	$174.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.450	+0.025%	$2K	$3.1M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.440	+0.010%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.430	−0.006%	$1.5M	$249K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.363	−0.106%	$120K	—	250x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.420	−0.021%	$125K	$2.8M	20x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAGshort	+0.0032%	1h	66.416	−0.026%	$4.8M	$9.8M	25x
Extended XAG-USD	+0.0032%	1h	66.368	−0.098%	$5.5M	$12.3M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.051%	$11K	$94K	52x	as long as short
BloFin XAG-USDT	+0.0040%	4h	66.380	−0.081%	$2.6M	$848K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	66.370	−0.096%	$794K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.864	+0.648%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.398	−0.054%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.362	−0.108%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.340	−0.141%	$5.7M	$10.0M	25x	as long as short
tradeXYZ xyz:SILVER	+0.0054%	1h	66.391	−0.064%	$165.4M	$88.2M	25x	as long as short
Kalshi KXSILVERPERP	+0.0058%	24h	66.395	−0.058%	$589K	$21.4M	8.1x	as long as short
Phoenix SILVER	+0.0073%	1h	66.345	−0.133%	$56K	$26K	25x	as long as short
Aster XAGUSDT	+0.0079%	4h	66.422	−0.017%	$2.8M	$1.0M	100x	as long as short
Variational Omni XAG	+0.0080%	4h	66.386	−0.072%	$5.5M	$10.5M	—	as long as short
Bitget XAGUSDT	+0.0086%	4h	66.450	+0.025%	$24.2M	$48.0M	100x	as long as short
MEXC SILVER_USDT	+0.0094%	4h	66.430	−0.006%	$124.2M	$182.8M	1000x	as long as short
Binance XAGUSDTlong	+0.0094%	4h	66.434	long leg	$191.0M	$729.7M	100x
edgeX XAGUSDC	+0.0098%	4h	66.377	−0.085%	$673K	$315K	30x	as long as short
Pacifica XAG	+0.0100%	1h	66.381	−0.080%	$475K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.400	−0.051%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	−0.156%	$113K	$19K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.419	−0.022%	$48K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.380	−0.081%	$1.9M	$864K	20x	as long as short
Paradex XAG-USD-PERP	+0.0115%	8h	66.413	−0.032%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0131%	1h	66.316	−0.177%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0134%	4h	66.378	−0.083%	$402K	$1.4M	25x	as long as short
Lighter XAG	+0.0136%	1h	66.418	−0.024%	$5.2M	$11.0M	25x	as long as short
Hotstuff SILVER-PERP	+0.0136%	1h	66.405	−0.043%	$35K	$21K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0182%	8h	66.440	+0.010%	$27.5M	$66.7M	50x	as long as short
Hibachi XAG/USDT-P	+0.0216%	1h	66.352	−0.124%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0218%	1h	66.375	−0.088%	$1.3M	$6.5M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0258% / S −0.0231%	1h	66.435	+0.002%	$103K	—	111x	as long as short
Bullet SILVER-USD	+0.0268%	1h	66.442	+0.012%	$46K	$75K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.420	−0.021%	$51K	$359K	20x	as long as short