Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.020%

Price spread now: Lighter against Bybit−0.060%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$190.185% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.060%, 7d avg −0.047%

Together, before fees+0.176%+ Points / potential airdropLighter: Season 3 · farm board+$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.140	0	get 0.0000% / 4h	1h 58m	$25.5M	$35.1M	150x
Short	Lighter XAG	66.100	0.0032	get 0.0004% / 1h	58m 31s	$5.1M	$10.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.060%Rate

Funding earned: $6.72
Price spread: −0.060% → −0.047%: −$1.28
Slippage, 4 orders: −$7.55
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.11
Costs to cover: 0.185%
Break-even: 20.7 days

Slippage from Bybit: live order book, 5 min ago; Lighter: 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 Bybit live order book, 5 min ago	0.76 bp	7.4 bp −$7	9.4 bp −$94	17.7 bp −$1,773	65.7 bp −$32.9K
Sell Lighter live order book, 5 min ago	0.96 bp	1.0 bp −$1	1.3 bp −$13	8.3 bp −$830	32.6 bp −$16.3K

XAG on 42 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	−0.0272%	1h	66.067	−0.110%	$776K	$609K	25x	as long as short
Hotstuff SILVER-PERP	−0.0120%	1h	66.037	−0.156%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.121	−0.028%	$15K	—	5x	as long as short
Bybit XAGUSDTlong	0.0000%	4h	66.140	long leg	$25.5M	$35.1M	150x
RISEx XAG/USDC	0.0000%	1h	66.145	+0.008%	$1.3M	$4.3M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.110	−0.045%	$146.6M	$170.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.120	−0.030%	$2K	$3.3M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.150	+0.015%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.120	−0.030%	$1.5M	$248K	100x	as long as short
Bitget XAGUSDT	+0.0010%	4h	66.140	0.000%	$23.6M	$49.5M	100x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps XAGUSD	+0.0010%	1h	66.048	−0.139%	$80K	$40K	10x	as long as short
Aster XAGUSDT	+0.0013%	4h	66.160	+0.030%	$2.8M	$1.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0016%	4h	66.084	−0.085%	$392K	$1.6M	25x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.120	−0.030%	$144K	$2.8M	20x	as long as short
Lighter XAGshort	+0.0032%	1h	66.100	−0.060%	$5.1M	$10.5M	25x
Lighter RH XAG	+0.0032%	1h	66.098	−0.063%	$4.4M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.072	−0.103%	$5.4M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.393%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.110	−0.045%	$791K	$2.8M	40x	as long as short
Variational Omni XAG	+0.0045%	4h	66.103	−0.056%	$5.3M	$11.1M	—	as long as short
Vest SI-PERP	+0.0046%	1h	66.592	+0.683%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.095	−0.068%	$164.1M	$96.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.120	−0.030%	$3.9M	$727K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.078	−0.094%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.050	−0.136%	$5.4M	$9.8M	25x	as long as short
Binance XAGUSDT	+0.0053%	4h	66.134	−0.009%	$190.3M	$775.7M	100x	as long as short
MEXC SILVER_USDT	+0.0054%	4h	66.110	−0.045%	$121.8M	$179.7M	1000x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	66.097	−0.065%	$660K	$21.3M	8.1x	as long as short
edgeX XAGUSDC	+0.0057%	4h	66.096	−0.066%	$670K	$316K	30x	as long as short
Aevo XAG-PERP	+0.0064%	1h	66.129	−0.016%	$47K	—	10x	as long as short
Phoenix SILVER	+0.0073%	1h	66.019	−0.183%	$56K	$26K	25x	as long as short
BloFin XAG-USDT	+0.0075%	4h	66.110	−0.045%	$2.6M	$1.2M	100x	as long as short
Paradex XAG-USD-PERP	+0.0099%	8h	66.128	−0.017%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.091	−0.075%	$473K	$643K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.120	−0.030%	$24.2M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.080	−0.091%	$112K	$85K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.130	−0.015%	$1.9M	$972K	20x	as long as short
Nado XAG-PERP	+0.0123%	1h	66.101	−0.060%	$1.3M	$6.5M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0142%	8h	66.160	+0.030%	$27.3M	$68.4M	50x	as long as short
Bullet SILVER-USD	+0.0210%	1h	66.145	+0.008%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0360% / S −0.0369%	1h	66.145	+0.008%	$103K	—	29x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0506%	1h	66.150	+0.015%	$60K	$363K	20x	as long as short