Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0046%/8h= +5.0% APRpaid last 24h −0.017%

Price spread now: Lighter against GRVT+0.066%78s7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as 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−$160.158% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.060%+$6 on $10k

Price spread, last 7 days−0.096%−$10 · spread now +0.066%, 7d avg −0.051%

Together, before fees−0.036%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.117% dearer against GRVT than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of −0.051%. The two prices were read 78 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	GRVT XAG_USDT_Perp	65.132	0.0138	pay 0.0069% / 4h	17m 46s	$394K	$1.6M	25x
Short	Lighter XAG	65.175	0.0184	get 0.0023% / 1h	17m 46s	$5.3M	$11.3M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now +0.066%Rate

Funding earned: $9.66
Price spread: +0.066% → −0.051%: $11.73
Slippage, 4 orders: −$6.82
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $5.57
Costs to cover: 0.158%
Break-even: 3.0 days

Slippage from GRVT: live order book, just now; Lighter: live order book, 6 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 GRVT live order book, just now	0.77 bp	8.2 bp −$8	8.3 bp −$83	40.4 bp −$4,038	doesn't fit
Sell Lighter live order book, 6 min ago	0.56 bp	0.6 bp −$1	0.6 bp −$6	7.7 bp −$771	22.8 bp −$11.4K

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
Hotstuff SILVER-PERP	−0.0040%	1h	65.090	−0.064%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	−0.0031%	1h	65.010	−0.187%	$5.6M	$9.8M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.070	−0.095%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.160	+0.044%	$27.7M	$39.2M	150x	as long as short
Variational Omni XAG	0.0000%	4h	65.124	−0.012%	$5.5M	$9.1M	—	as long as short
SunX XAG-USDT	0.0000%	4h	65.170	+0.059%	$2K	$2.5M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.200	+0.105%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.180	+0.074%	$1.5M	$278K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.112	−0.031%	$118K	—	250x	as long as short
Gate XAG_USDT	+0.0028%	4h	65.160	+0.044%	$140.5M	$181.2M	100x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter RH XAG	+0.0032%	1h	65.177	+0.070%	$4.6M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.104	−0.042%	$5.0M	$11.7M	10x	as long as short
MEXC SILVER_USDT	+0.0032%	4h	65.150	+0.028%	$126.5M	$160.8M	1000x	as long as short
edgeX XAGUSDC	+0.0033%	4h	65.105	−0.041%	$663K	$313K	30x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.947%	$11K	$94K	52x	as long as short
Binance XAGUSDT	+0.0034%	4h	65.160	+0.044%	$191.4M	$757.5M	100x	as long as short
Aster XAGUSDT	+0.0036%	4h	65.150	+0.028%	$2.7M	$971K	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.140	+0.013%	$784K	$2.9M	40x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.150	+0.028%	$161K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.556	+0.652%	—	—	25x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.164	+0.050%	$47K	—	10x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.125	−0.010%	$3.8M	$892K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.116	−0.024%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.134	+0.004%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.070	−0.095%	$55K	$31K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0067%	1h	65.117	−0.022%	$173.0M	$84.6M	25x	as long as short
Kalshi KXSILVERPERP	+0.0080%	24h	65.120	−0.018%	$476K	$32.2M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	64.970	−0.248%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.081	−0.077%	$463K	$600K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.130	−0.002%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.080	−0.079%	$111K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.160	+0.044%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDT	+0.0133%	4h	65.140	+0.013%	$2.7M	$625K	100x	as long as short
GRVT XAG_USDT_Perplong	+0.0138%	4h	65.132	long leg	$394K	$1.6M	25x
Bitget XAGUSDT	+0.0158%	4h	65.150	+0.028%	$23.2M	$44.9M	100x	as long as short
Nado XAG-PERP	+0.0165%	1h	65.099	−0.050%	$1.2M	$4.7M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0171%	8h	65.160	+0.044%	$28.4M	$70.6M	50x	as long as short
Lighter XAGshort	+0.0184%	1h	65.175	+0.066%	$5.3M	$11.3M	25x
Aftermath Perps XAGUSD	+0.0192%	1h	65.106	−0.039%	$78K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0211%	1h	65.160	+0.044%	$65K	$394K	20x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.080	−0.079%	$20K	$17K	10x	as long as short
Bullet SILVER-USD	+0.0235%	1h	65.178	+0.071%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.175	+0.067%	$92K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0364%	1h	65.150	+0.028%	$1.0M	$869K	25x	as long as short