Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0009%/8h= −1.0% APRpaid last 24h −0.005%

Price spread now: edgeX against Lighter+0.053%7-day average +0.014% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$9as in the Price arb table

costs, in and out, $10k−$130.132% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.123%−$12 on $10k

Price spread, last 3 days (all we have)−0.017%−$2 · spread now +0.053%, 7d avg +0.014%

Together, before fees−0.139%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$14 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.040% dearer against Lighter than usual: you sell high and buy low (spread +0.053% now, against its 7-day average of +0.014%): +$4 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 14 days. At the pace of the last 7 days (−0.123% in total) that is about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.508	0.0120	pay 0.0015% / 1h	25m 28s	$5.4M	$10.5M	25x
Short	edgeX XAGUSDC	66.544	0.0111	get 0.0055% / 4h	3h 25m	$675K	$313K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.053%Rate

Funding earned: −$1.95
Price spread: +0.053% → +0.014%: $3.95
Slippage, 4 orders: −$4.18
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$11.18
Costs to cover: 0.132%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; edgeX: live order book, 48 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, 3 min ago	0.47 bp	0.7 bp −$1	0.9 bp −$9	5.3 bp −$526	15.5 bp −$7,766
Sell edgeX live order book, 48 min ago	1.50 bp	6.0 bp −$6	6.0 bp −$60	8.4 bp −$840	20.3 bp −$10.1K

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	66.490	−0.028%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.530	+0.033%	$25.7M	$35.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.520	+0.018%	$154.9M	$168.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.530	+0.033%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.570	+0.093%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.550	+0.063%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.468	−0.060%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.506	−0.004%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.453	−0.084%	$5.4M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.163%	$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	66.550	+0.063%	$801K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.957	+0.675%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.473	−0.053%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.490	−0.027%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.462	−0.069%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.410	−0.148%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.500	−0.012%	$115K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	66.496	−0.018%	$165.4M	$85.6M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.464	−0.066%	$562K	$21.5M	8.1x	as long as short
BloFin XAG-USDT	+0.0064%	4h	66.590	+0.123%	$2.6M	$703K	100x	as long as short
Aster XAGUSDT	+0.0086%	4h	66.520	+0.018%	$2.8M	$1.1M	100x	as long as short
Hotstuff SILVER-PERP	+0.0088%	1h	66.486	−0.033%	$35K	$21K	20x	as long as short
Variational Omni XAG	+0.0089%	4h	66.514	+0.009%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0098%	8h	66.500	−0.012%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.455	−0.079%	$474K	$623K	10x	as long as short
MEXC SILVER_USDT	+0.0100%	4h	66.510	+0.003%	$108.7M	$160.3M	1000x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.470	−0.057%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.480	−0.042%	$126K	$24K	50x	as long as short
Binance XAGUSDT	+0.0102%	4h	66.520	+0.018%	$192.4M	$721.8M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.513	+0.007%	$48K	—	10x	as long as short
edgeX XAGUSDCshort	+0.0111%	4h	66.544	+0.053%	$675K	$313K	30x
Lighter XAGlong	+0.0120%	1h	66.508	long leg	$5.4M	$10.5M	25x
GRVT XAG_USDT_Perp	+0.0130%	4h	66.535	+0.040%	$391K	$1.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.515	+0.010%	$1.3M	$4.3M	20x	as long as short
Nado XAG-PERP	+0.0168%	1h	66.461	−0.071%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0174%	4h	66.520	+0.018%	$24.5M	$48.0M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.108%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	66.510	+0.003%	$27.9M	$67.2M	50x	as long as short
Aftermath Perps XAGUSD	+0.0197%	1h	66.501	−0.011%	$80K	$39K	10x	as long as short
Bullet SILVER-USD	+0.0226%	1h	66.535	+0.040%	$45K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	66.480	−0.042%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.535	+0.040%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.520	+0.018%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.489	−0.029%	$764K	$565K	25x	as long as short