Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.020%

Price spread now: Lighter RH against GRVT+0.213%79s7-day average −0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$20as 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−$170.173% of the position

Long on GRVT Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days−0.028%−$3 on $10k

Price spread, last 7 days−0.218%−$22 · spread now +0.213%, 7d avg −0.066%

Together, before fees−0.247%+ Points / potential airdropGRVT: Active · Lighter RH: Points live · farm board−$25 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.279% dearer against GRVT than usual: you sell high and buy low (spread +0.213% now, against its 7-day average of −0.066%): +$28 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 6.4 days. At the pace of the last 7 days (−0.028% in total) that is about 2 months. The two prices were read 79 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	66.490	0.0178	pay 0.0089% / 4h	18m 09s	$390K	$1.5M	25x
Short	Lighter RH XAG	66.631	0.0032	get 0.0004% / 1h	18m 09s	$4.8M	$9.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.213%Rate

Funding earned: −$30.66
Price spread: +0.213% → −0.066%: $27.89
Slippage, 4 orders: −$8.29
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$20.06
Costs to cover: 0.173%
Break-even: from the start

Slippage from GRVT: live order book, 5 min ago; Lighter RH: 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, 5 min ago	0.75 bp	7.9 bp −$8	8.2 bp −$82	42.5 bp −$4,249	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.39 bp	0.4 bp $0	1.1 bp −$11	17.0 bp −$1,703	doesn't fit

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
dYdX XAG-USD	0.0000%	1h	66.560	+0.106%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.660	+0.256%	$26.2M	$34.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.660	+0.256%	$154.7M	$173.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.680	+0.286%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.670	+0.271%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.660	+0.256%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.610	+0.180%	$121K	—	250x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.631	+0.213%	$4.8M	$9.6M	25x
Extended XAG-USD	+0.0032%	1h	66.586	+0.145%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.135%	$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
Phoenix SILVER	+0.0036%	1h	66.485	−0.007%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.530	+0.061%	$796K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.085	+0.895%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.611	+0.182%	$35K	$21K	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.634	+0.217%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.606	+0.175%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.570	+0.121%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.595	+0.158%	$583K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.660	+0.256%	$125K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0068%	4h	66.550	+0.091%	$2.6M	$651K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0073%	1h	66.613	+0.185%	$166.0M	$86.9M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.583	+0.140%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.620	+0.196%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.450	−0.060%	$126K	$26K	50x	as long as short
Variational Omni XAG	+0.0106%	4h	66.526	+0.055%	$5.6M	$10.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0107%	8h	66.633	+0.216%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0114%	4h	66.669	+0.270%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.659	+0.255%	$5.2M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.664	+0.262%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0122%	4h	66.478	−0.018%	$674K	$314K	30x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.650	+0.241%	$115.2M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0124%	4h	66.640	+0.226%	$192.8M	$724.5M	100x	as long as short
Bitget XAGUSDT	+0.0152%	4h	66.660	+0.256%	$24.5M	$48.4M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.640	+0.226%	$1.9M	$851K	20x	as long as short
Aftermath Perps XAGUSD	+0.0165%	1h	66.476	−0.021%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perplong	+0.0178%	4h	66.490	long leg	$390K	$1.5M	25x
OKX XAG-USDT-SWAP	+0.0197%	8h	66.640	+0.226%	$28.0M	$67.0M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.657	+0.251%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0254%	1h	66.667	+0.266%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0255%	1h	66.595	+0.159%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.675	+0.279%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.521	+0.048%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0501%	1h	66.670	+0.271%	$51K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0594%	1h	66.643	+0.231%	$764K	$586K	25x	as long as short