XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0475%/8h= −52.0% APRnext payment −$0.59 per $10,000 · paid last 24h −0.043%

Price spread now: Lighter against Deribit−0.112%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$110.108% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.049%−$5 on $10k

Price spread, last 3 days (all we have)+0.032%+$3 · spread now −0.112%, 7d avg −0.012%

Together, before fees−0.017%+ Points / potential airdropLighter: Season 3 · farm board−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Lighter is 0.100% cheaper against Deribit than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid -0.049% in total (about -5.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.59 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit SILVER_USDC-PERPETUAL	66.110	0.0507	pay 0.0063% / 1h	59m 41s	$76K	$347K	20x
Short	Lighter XAG	66.036	0.0032	get 0.0004% / 1h	59m 41s	$5.1M	$10.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now −0.112%Rate

Funding earned: −$99.73
Price spread: −0.112% → −0.012%: −$10.01
Slippage, 4 orders: −$3.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$120.51
Costs to cover: 0.108%
Break-even: never at this rate

Slippage from Deribit: live order book, 24 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 Deribit live order book, 24 min ago	0.76 bp	4.3 bp −$4	6.4 bp −$64	doesn't fit	doesn't fit
Sell Lighter live order book, 4 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
Hotstuff SILVER-PERP	−0.0120%	1h	66.037	−0.110%	$35K	$21K	20x	as long as short
Nado XAG-PERP	−0.0001%	1h	66.081	−0.043%	$1.3M	$6.5M	10x	as long as short
dYdX XAG-USD	0.0000%	1h	66.057	−0.080%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.150	+0.061%	$25.5M	$35.8M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.117	+0.010%	$1.3M	$4.3M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.080	−0.045%	$146.9M	$170.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.100	−0.015%	$2K	$3.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.130	+0.030%	$1.0M	$1.2M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.110	0.000%	$1.5M	$248K	100x	as long as short
Bullet SILVER-USD	0.0000%	1h	66.106	−0.007%	$44K	$74K	10x	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	66.042	−0.103%	$79K	$40K	10x	as long as short
Bitget XAGUSDT	+0.0012%	4h	66.090	−0.030%	$23.6M	$49.6M	100x	as long as short
Aster XAGUSDT	+0.0014%	4h	66.079	−0.047%	$2.8M	$1.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0016%	4h	66.084	−0.039%	$392K	$1.6M	25x	as long as short
Lighter XAGshort	+0.0032%	1h	66.036	−0.112%	$5.1M	$10.5M	25x
Lighter RH XAG	+0.0032%	1h	66.034	−0.114%	$4.4M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.038	−0.109%	$5.3M	$14.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.439%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.030	−0.121%	$790K	$2.8M	40x	as long as short
Variational Omni XAG	+0.0045%	4h	66.103	−0.011%	$5.3M	$11.1M	—	as long as short
Vest SI-PERP	+0.0046%	1h	66.535	+0.643%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.043	−0.101%	$3.9M	$742K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.020	−0.136%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.040	−0.106%	$5.4M	$9.7M	25x	as long as short
MEXC SILVER_USDT	+0.0052%	4h	66.080	−0.045%	$122.1M	$179.5M	1000x	as long as short
Kalshi KXSILVERPERP	+0.0055%	24h	66.054	−0.085%	$638K	$21.7M	8.1x	as long as short
Binance XAGUSDT	+0.0056%	4h	66.150	+0.061%	$190.3M	$781.4M	100x	as long as short
edgeX XAGUSDC	+0.0057%	4h	66.096	−0.021%	$670K	$316K	30x	as long as short
BloFin XAG-USDT	+0.0058%	4h	66.050	−0.091%	$2.6M	$1.2M	100x	as long as short
Aevo XAG-PERP	+0.0064%	1h	66.089	−0.032%	$47K	—	10x	as long as short
Phoenix SILVER	+0.0073%	1h	66.019	−0.138%	$56K	$26K	25x	as long as short
QFEX SILVER-USD	+0.0080%	1h	66.090	−0.030%	$143K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0086%	1h	66.046	−0.097%	$163.7M	$95.8M	25x	as long as short
Paradex XAG-USD-PERP	+0.0100%	8h	66.091	−0.029%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.057	−0.080%	$473K	$643K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.050	−0.091%	$24.2M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.080	−0.045%	$112K	$85K	50x	as long as short
OKX XAG-USDT-SWAP	+0.0142%	8h	66.120	+0.015%	$27.4M	$68.4M	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.060	−0.076%	$1.9M	$1.2M	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0359% / S −0.0369%	1h	66.105	−0.008%	$103K	—	29x	as long as short
Deribit SILVER_USDC-PERPETUALlong	+0.0507%	1h	66.110	long leg	$76K	$347K	20x
Kraken Futures PF_XAGUSD	+0.0614%	1h	66.083	−0.042%	$776K	$610K	25x	as long as short