Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0060%/8h= −6.6% APRpaid last 24h −0.020%

Price spread now: Bybit against Lighter+0.043%7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$140.138% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.158%−$16 on $10k

Price spread, last 7 days−0.029%−$3 · spread now +0.043%, 7d avg +0.047%

Together, before fees−0.187%+ Points / potential airdropLighter: Season 3 · farm board−$19 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: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.202	0.0184	pay 0.0023% / 1h	11m 13s	$5.2M	$10.5M	25x
Short	Bybit XAGUSDT	66.230	0.0124	get 0.0062% / 4h	1h 11m	$26.9M	$36.1M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$12.69
Price spread: +0.043% → +0.047%: −$0.45
Slippage, 4 orders: −$2.75
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.89
Costs to cover: 0.138%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Bybit: live order book, 3 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 Lighter live order book, 7 min ago	0.35 bp	0.5 bp $0	0.7 bp −$7	4.3 bp −$433	14.2 bp −$7,095
Sell Bybit live order book, 3 min ago	0.75 bp	6.3 bp −$6	8.9 bp −$89	13.4 bp −$1,340	54.7 bp −$27.4K

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
dYdX XAG-USD	0.0000%	1h	66.087	−0.173%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.134	−0.102%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.200	−0.003%	$149.7M	$165.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.200	−0.003%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.240	+0.058%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.240	+0.058%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.117	−0.128%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.194	−0.011%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.118	−0.126%	$5.2M	$12.0M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.300%	$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
StandX XAG-USD	+0.0040%	1h	66.180	−0.033%	$796K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.618	+0.629%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.148	−0.081%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.132	−0.105%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.050	−0.229%	$5.7M	$9.7M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.170	−0.048%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0065%	24h	66.130	−0.108%	$545K	$24.9M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.217	+0.023%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0093%	1h	66.145	−0.086%	$165.8M	$73.8M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.123	−0.119%	$471K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.140	−0.093%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.220	+0.028%	$113K	$30K	50x	as long as short
Bybit XAGUSDTshort	+0.0124%	4h	66.230	+0.043%	$26.9M	$36.1M	150x
Paradex XAG-USD-PERP	+0.0125%	8h	66.167	−0.053%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0125%	4h	66.176	−0.038%	$2.7M	$877K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.188	−0.020%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0180%	4h	66.272	+0.106%	$5.6M	$9.8M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.177	−0.038%	$1.3M	$4.4M	20x	as long as short
Lighter XAGlong	+0.0184%	1h	66.202	long leg	$5.2M	$10.5M	25x
MEXC SILVER_USDT	+0.0188%	4h	66.220	+0.028%	$106.3M	$153.9M	1000x	as long as short
Binance XAGUSDT	+0.0190%	4h	66.219	+0.025%	$191.9M	$706.0M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.170	−0.048%	$1.8M	$1.0M	20x	as long as short
BloFin XAG-USDT	+0.0205%	4h	66.190	−0.018%	$2.6M	$552K	100x	as long as short
edgeX XAGUSDC	+0.0210%	4h	66.256	+0.082%	$672K	$313K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0215%	8h	66.230	+0.043%	$27.8M	$65.9M	50x	as long as short
Nado XAG-PERP	+0.0221%	1h	66.124	−0.118%	$1.3M	$6.5M	10x	as long as short
Aftermath Perps XAGUSD	+0.0227%	1h	66.204	+0.004%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0238%	4h	66.200	−0.003%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0256%	4h	66.264	+0.095%	$390K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0270%	1h	66.192	−0.015%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.198	−0.005%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.190	−0.018%	$50K	$322K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0357% / S −0.0383%	1h	66.195	−0.010%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.154	−0.072%	$913K	$674K	25x	as long as short