Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0148%/8h= −16.2% APRpaid last 24h −0.026%

Price spread now: Lighter RH against edgeX−0.054%7-day average −0.027% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

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

costs, in and out, $10k−$170.172% of the position

Long on edgeX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.015%−$1 on $10k

Price spread, last 4 days (all we have)−0.052%−$5 · spread now −0.054%, 7d avg −0.027%

Together, before fees−0.067%+ Points / potential airdropedgeX: Active · Lighter RH: Points live · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Lighter RH is 0.026% cheaper against edgeX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX XAGUSDC	66.431	0.0180	pay 0.0090% / 4h	2h 19m	$674K	$314K	30x
Short	Lighter RH XAG	66.396	0.0032	get 0.0004% / 1h	19m 25s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against edgeX. 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 edgeXbpFee Lighter RHbpOrdersPrice spread, now −0.054%Rate

Funding earned: −$31
Price spread: −0.054% → −0.027%: −$2.63
Slippage, 4 orders: −$8.17
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$50.81
Costs to cover: 0.172%
Break-even: never at this rate

Slippage from edgeX: live order book, 49 min ago; Lighter RH: 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 edgeX live order book, 49 min ago	2.25 bp	6.8 bp −$7	6.8 bp −$68	9.2 bp −$916	20.8 bp −$10.4K
Sell Lighter RH live order book, 4 min ago	1.69 bp	1.7 bp −$2	2.1 bp −$21	18.0 bp −$1,801	doesn't fit

XAG on 43 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
dYdX XAG-USD	0.0000%	1h	66.363	−0.103%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.420	−0.017%	$152.6M	$164.1M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.440	+0.013%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.490	+0.088%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.440	+0.013%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.350	−0.122%	$120K	—	250x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.396	−0.054%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.358	−0.111%	$5.4M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.047%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.440	+0.013%	$799K	$2.9M	40x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.847	+0.626%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.352	−0.120%	$56K	$26K	25x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.300	−0.198%	$5.7M	$9.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.391	−0.061%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.346	−0.129%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.420	−0.017%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.382	−0.074%	$555K	$23.5M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.440	+0.013%	$1.3M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0099%	1h	66.366	−0.098%	$165.7M	$75.8M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.383	−0.073%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.390	−0.062%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.360	−0.108%	$126K	$23K	50x	as long as short
Aster XAGUSDT	+0.0129%	4h	66.431	0.000%	$2.8M	$939K	100x	as long as short
Bybit XAGUSDT	+0.0130%	4h	66.440	+0.013%	$26.6M	$36.4M	150x	as long as short
Paradex XAG-USD-PERP	+0.0133%	8h	66.426	−0.009%	$30K	$1K	5x	as long as short
Hotstuff SILVER-PERP	+0.0144%	1h	66.367	−0.097%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0159%	4h	66.443	+0.017%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.424	−0.011%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0172%	4h	66.410	−0.032%	$102.7M	$158.5M	1000x	as long as short
Binance XAGUSDT	+0.0175%	4h	66.420	−0.017%	$192.5M	$706.9M	100x	as long as short
edgeX XAGUSDClong	+0.0180%	4h	66.431	long leg	$674K	$314K	30x
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.360	−0.108%	$1.9M	$969K	20x	as long as short
Lighter XAG	+0.0192%	1h	66.409	−0.034%	$5.3M	$10.6M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0206%	8h	66.450	+0.028%	$28.0M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0223%	1h	66.390	−0.063%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.389	−0.064%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.390	−0.062%	$20K	$22K	10x	as long as short
Bitget XAGUSDT	+0.0244%	4h	66.430	−0.002%	$23.9M	$46.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0264%	4h	66.440	+0.013%	$397K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0286%	1h	66.416	−0.023%	$46K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.445	+0.020%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.390	−0.062%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.394	−0.057%	$766K	$478K	25x	as long as short