Funding you earn now, next payment 02:00 UTC+0.0192%/8h= +21.0% APRnext payment +$0.24 per $10,000 · paid last 24h +0.048%
Price spread now: Deribit against Lighter+0.110%7-day average +0.012% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$6as in the Price arb table
costs, in and out, $10k−$160.159% of the position
Funding, last 4 days (all we have)+0.063%+$6 on $10k
+Price spread, last 3 days (all we have)−0.081%−$8 · spread now +0.110%, 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 for this trade now. Funding pays +$6 a day on $10k at the current rate, and Deribit is 0.097% dearer against Lighter than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.012%.
The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.063% in total (about 6.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.24 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 | Lighter XAG | 66.457 | 0.0160 | pay 0.0020% / 1h | 42m 17s | $5.4M | $10.4M | 25x |
| Short | Deribit SILVER_USDC-PERPETUAL | 66.530 | 0.0352 | get 0.0044% / 1h | 42m 17s | $50K | $331K | 20x |
Lighter XAG
Deribit SILVER_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- $40.23
- Price spread: +0.110% → +0.012%
- $9.71
- Slippage, 4 orders
- −$8.91
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $34.04
- Costs to cover
- 0.159%
- Break-even
- 1.1 days
Slippage from Lighter: live order book, 11 min ago; Deribit: live order book, 26 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, 11 min ago | 0.57 bp | 0.7 bp −$1 | 2.2 bp −$22 | 6.1 bp −$611 | 17.5 bp −$8,768 |
| Sell Deribit live order book, 26 min ago | 0.75 bp | 10.2 bp −$10 | 10.6 bp −$106 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff SILVER-PERP | −0.0032% | 1h | 66.421 | −0.054% | $35K | $21K | 20x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 66.423 | −0.052% | $15K | — | 5x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 66.470 | +0.019% | $154.5M | $161.8M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 66.550 | +0.140% | $2K | $2.8M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 66.600 | +0.215% | $1.1M | $1.1M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 66.520 | +0.094% | $1.5M | $250K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 66.412 | −0.068% | $120K | — | 250x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 66.442 | −0.024% | $4.8M | $9.4M | 25x | as long as short |
| Extended XAG-USD | +0.0032% | 1h | 66.399 | −0.088% | $5.4M | $12.5M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 66.400 | −0.086% | $11K | $94K | 52x | as long as short |
Hotstuff SILVER-PERP
dYdX XAG-USD
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Lighter RH XAG
Extended XAG-USD
Injective XAG/USDC PERPShow all 44 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| StandX XAG-USD | +0.0040% | 1h | 66.560 | +0.155% | $801K | $2.9M | 40x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.918 | +0.693% | — | — | 25x | as long as short |
| Phoenix SILVER | +0.0048% | 1h | 66.479 | +0.033% | $56K | $26K | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 66.427 | −0.045% | $3.9M | $669K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 66.471 | +0.021% | $3K | $5K | 20x | as long as short |
| Ondo Perps XAG-USD.P | +0.0050% | 1h | 66.360 | −0.146% | $5.7M | $9.6M | 25x | as long as short |
| QFEX SILVER-USD | +0.0054% | 1h | 66.450 | −0.011% | $115K | $2.7M | 20x | as long as short |
| Kalshi KXSILVERPERP | +0.0060% | 24h | 66.545 | +0.132% | $574K | $23.1M | 8.1x | as long as short |
| Bybit XAGUSDT | +0.0061% | 4h | 66.490 | +0.049% | $26.4M | $35.9M | 150x | as long as short |
| RISEx XAG/USDC | +0.0079% | 1h | 66.468 | +0.016% | $1.2M | $4.3M | 20x | as long as short |
| tradeXYZ xyz:SILVER | +0.0098% | 1h | 66.438 | −0.029% | $165.9M | $79.4M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 66.402 | −0.083% | $473K | $610K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 66.420 | −0.056% | $24.6M | $4.5M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 66.490 | +0.049% | $126K | $23K | 50x | as long as short |
| BloFin XAG-USDT | +0.0103% | 4h | 66.570 | +0.170% | $2.6M | $624K | 100x | as long as short |
| Aster XAGUSDT | +0.0117% | 4h | 66.467 | +0.015% | $2.8M | $991K | 100x | as long as short |
| Paradex XAG-USD-PERP | +0.0121% | 8h | 66.448 | −0.013% | $30K | $1K | 5x | as long as short |
| Variational Omni XAG | +0.0124% | 4h | 66.565 | +0.162% | $5.6M | $9.7M | — | as long as short |
| Aevo XAG-PERP | +0.0136% | 1h | 66.464 | +0.010% | $48K | — | 10x | as long as short |
| edgeX XAGUSDC | +0.0140% | 4h | 66.523 | +0.098% | $675K | $315K | 30x | as long as short |
| MEXC SILVER_USDT | +0.0146% | 4h | 66.460 | +0.004% | $108.1M | $156.6M | 1000x | as long as short |
| Binance XAGUSDT | +0.0148% | 4h | 66.470 | +0.019% | $192.9M | $707.9M | 100x | as long as short |
| Lighter XAGlong | +0.0160% | 1h | 66.457 | long leg | $5.4M | $10.4M | 25x | |
| Coinbase International SILVER-PERP-INTX | +0.0184% | 1h | 66.520 | +0.094% | $1.9M | $968K | 20x | as long as short |
| OKX XAG-USDT-SWAP | +0.0196% | 8h | 66.460 | +0.004% | $28.0M | $66.0M | 50x | as long as short |
| Bitget XAGUSDT | +0.0220% | 4h | 66.470 | +0.019% | $24.4M | $45.9M | 100x | as long as short |
| Nado XAG-PERP | +0.0223% | 1h | 66.412 | −0.069% | $1.3M | $6.5M | 10x | as long as short |
| Aftermath Perps XAGUSD | +0.0223% | 1h | 66.479 | +0.033% | $80K | $38K | 10x | as long as short |
| GRVT XAG_USDT_Perp | +0.0238% | 4h | 66.591 | +0.201% | $395K | $1.5M | 25x | as long as short |
| Bullet SILVER-USD | +0.0281% | 1h | 66.479 | +0.033% | $45K | $76K | 10x | as long as short |
| Hibachi XAG/USDT-P | +0.0288% | 1h | 66.493 | +0.054% | $20K | $22K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0292% / S −0.0281% | 1h | 66.485 | +0.042% | $103K | — | 111x | as long as short |
| Deribit SILVER_USDC-PERPETUALshort | +0.0352% | 1h | 66.530 | +0.110% | $50K | $331K | 20x | |
| Kraken Futures PF_XAGUSD | +0.0461% | 1h | 66.512 | +0.082% | $767K | $491K | 25x | as long as short |
StandX XAG-USD
Vest SI-PERP
Phoenix SILVER
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Ondo Perps XAG-USD.P
QFEX SILVER-USD
Kalshi KXSILVERPERP
Bybit XAGUSDT
RISEx XAG/USDC
tradeXYZ xyz:SILVER
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
BloFin XAG-USDT
Aster XAGUSDT
Paradex XAG-USD-PERP
Variational Omni XAG
Aevo XAG-PERP
edgeX XAGUSDC
MEXC SILVER_USDT
Binance XAGUSDT
Coinbase International SILVER-PERP-INTX
OKX XAG-USDT-SWAP
Bitget XAGUSDT
Nado XAG-PERP
Aftermath Perps XAGUSD
GRVT XAG_USDT_Perp
Bullet SILVER-USD
Hibachi XAG/USDT-P
GMX SILVER/USD [ETH-USDC]
Kraken Futures PF_XAGUSD