Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0246%/8h= −27.0% APRpaid last 24h +0.005%

Price spread now: Lighter against BloFin−0.160%60s7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs+$18as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$150.145% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.330%+$33 on $10k

Price spread, last 4 days (all we have)+0.100%+$10 · spread now −0.160%, 7d avg −0.030%

Together, before fees+0.430%+ Points / potential airdropLighter: Season 3 · farm board+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Lighter is 0.130% cheaper against BloFin than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.030%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.330%, so the current rate has only just turned against you. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAG-USDT	65.610	0.0342	pay 0.0171% / 4h	1h 53m	$2.6M	$619K	100x
Short	Lighter XAG	65.505	0.0096	get 0.0012% / 1h	53m 57s	$5.4M	$11.2M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now −0.160%Rate

Funding earned: −$51.74
Price spread: −0.160% → −0.030%: −$13
Slippage, 4 orders: −$2.55
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$79.29
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from BloFin: live order book, 4 min ago; Lighter: live order book, 4 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 BloFin live order book, 4 min ago	0.76 bp	6.8 bp −$7	6.8 bp −$68	10.8 bp −$1,078	18.3 bp −$9,133
Sell Lighter live order book, 4 min ago	0.49 bp	0.5 bp −$1	0.7 bp −$7	8.3 bp −$831	19.9 bp −$9,931

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
Hibachi XAG/USDT-P	−0.0112%	1h	65.527	−0.127%	$20K	$19K	10x	as long as short
Ondo Perps XAG-USD.P	−0.0024%	1h	65.400	−0.320%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.471	−0.212%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.530	−0.122%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.540	−0.107%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.520	−0.137%	$1.5M	$280K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.454	−0.239%	$118K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.502	−0.164%	$4.7M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.451	−0.242%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.204%	$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
Gate XAG_USDT	+0.0034%	4h	65.520	−0.137%	$143.9M	$176.7M	100x	as long as short
Phoenix SILVER	+0.0036%	1h	65.581	−0.044%	$56K	$31K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	65.580	−0.046%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.937	+0.498%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0050%	1h	65.490	−0.183%	$152K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.476	−0.204%	$170.7M	$82.8M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.452	−0.241%	$3.9M	$712K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.450	−0.244%	$3K	$6K	20x	as long as short
Aster XAGUSDT	+0.0058%	4h	65.510	−0.152%	$2.7M	$955K	100x	as long as short
Paradex XAG-USD-PERP	+0.0060%	8h	65.504	−0.161%	$29K	$1K	5x	as long as short
RISEx XAG/USDC	+0.0061%	1h	65.502	−0.165%	$1.2M	$4.9M	20x	as long as short
Bybit XAGUSDT	+0.0066%	4h	65.530	−0.122%	$28.7M	$39.4M	150x	as long as short
Kalshi KXSILVERPERP	+0.0077%	24h	65.509	−0.154%	$468K	$29.2M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	65.553	−0.087%	$35K	$21K	20x	as long as short
Lighter XAGshort	+0.0096%	1h	65.505	−0.160%	$5.4M	$11.2M	25x
Variational Omni XAG	+0.0096%	4h	65.634	+0.036%	$5.5M	$9.4M	—	as long as short
Binance XAGUSDT	+0.0099%	4h	65.511	−0.151%	$188.4M	$747.9M	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.471	−0.212%	$468K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.470	−0.213%	$24.6M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.610	0.000%	$112K	$19K	50x	as long as short
MEXC SILVER_USDT	+0.0102%	4h	65.500	−0.168%	$113.6M	$156.3M	1000x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.498	−0.170%	$47K	—	10x	as long as short
Nado XAG-PERP	+0.0112%	1h	65.448	−0.248%	$1.2M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0119%	4h	65.591	−0.028%	$668K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0120%	1h	65.450	−0.244%	$1.6M	$1.3M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0148%	4h	65.631	+0.031%	$395K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0164%	1h	65.508	−0.155%	$44K	$76K	10x	as long as short
Bitget XAGUSDT	+0.0196%	4h	65.520	−0.137%	$23.8M	$46.4M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0202%	8h	65.510	−0.152%	$27.8M	$70.5M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0208%	1h	65.500	−0.168%	$66K	$370K	20x	as long as short
Aftermath Perps XAGUSD	+0.0209%	1h	65.548	−0.094%	$79K	$37K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0321% / S −0.0301%	1h	65.515	−0.145%	$93K	—	111x	as long as short
BloFin XAG-USDTlong	+0.0342%	4h	65.610	long leg	$2.6M	$619K	100x
Kraken Futures PF_XAGUSD	+0.0492%	1h	65.466	−0.220%	$916K	$738K	25x	as long as short