Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.037%

Price spread now: Gate against Lighter+0.080%7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$180.185% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.153%−$15 on $10k

Price spread, last 7 days−0.044%−$4 · spread now +0.080%, 7d avg +0.052%

Together, before fees−0.197%+ Points / potential airdropLighter: Season 3 · farm board−$20 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.029% dearer against Lighter than usual: you sell high and buy low (spread +0.080% now, against its 7-day average of +0.052%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 7 days (−0.153% in total) that is about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.307	0.0192	pay 0.0024% / 1h	3m 20s	$5.3M	$10.7M	25x
Short	Gate XAG_USDT	66.360	0	get 0.0000% / 4h	2h 03m	$152.0M	$165.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.080%Rate

Funding earned: −$40.32
Price spread: +0.080% → +0.052%: $2.88
Slippage, 4 orders: −$3.45
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$55.89
Costs to cover: 0.185%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Gate: 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 Lighter live order book, 5 min ago	0.48 bp	0.9 bp −$1	1.6 bp −$16	6.2 bp −$623	17.4 bp −$8,682
Sell Gate live order book, 6 min ago	0.75 bp	8.3 bp −$8	9.2 bp −$92	12.6 bp −$1,259	15.1 bp −$7,555

XAG on 43 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	66.241	−0.099%	$15K	—	5x	as long as short
Gate XAG_USDTshort	0.0000%	4h	66.360	+0.080%	$152.0M	$165.9M	100x
SunX XAG-USDT	0.0000%	4h	66.340	+0.050%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.370	+0.095%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.340	+0.050%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.283	−0.036%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.301	−0.009%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.250	−0.086%	$5.3M	$12.2M	10x	as long as short
Hotstuff SILVER-PERP	+0.0032%	1h	66.282	−0.037%	$35K	$21K	20x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.141%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.350	+0.065%	$798K	$2.9M	40x	as long as short
Ondo Perps XAG-USD.P	+0.0042%	1h	66.230	−0.116%	$5.7M	$9.6M	25x	as long as short
Vest SI-PERP	+0.0046%	1h	66.765	+0.691%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.266	−0.061%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.306	−0.001%	$3.9M	$671K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.257	−0.075%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.320	+0.020%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0062%	24h	66.288	−0.028%	$550K	$24.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.326	+0.029%	$1.2M	$4.4M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0098%	1h	66.312	+0.008%	$165.9M	$75.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.262	−0.067%	$472K	$606K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.280	−0.040%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.270	−0.055%	$113K	$30K	50x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.329	+0.034%	$2.7M	$937K	100x	as long as short
Paradex XAG-USD-PERP	+0.0138%	8h	66.299	−0.011%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0151%	4h	66.370	+0.095%	$26.7M	$36.5M	150x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.343	+0.055%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0170%	4h	66.313	+0.010%	$5.5M	$9.8M	—	as long as short
MEXC SILVER_USDT	+0.0184%	4h	66.340	+0.050%	$111.1M	$159.8M	1000x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.280	−0.040%	$1.9M	$970K	20x	as long as short
Binance XAGUSDT	+0.0186%	4h	66.355	+0.073%	$192.4M	$707.2M	100x	as long as short
Lighter XAGlong	+0.0192%	1h	66.307	long leg	$5.3M	$10.7M	25x
edgeX XAGUSDC	+0.0200%	4h	66.297	−0.015%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0214%	8h	66.350	+0.065%	$27.8M	$65.8M	50x	as long as short
Nado XAG-PERP	+0.0217%	1h	66.265	−0.063%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.276	−0.047%	$20K	$22K	10x	as long as short
Aftermath Perps XAGUSD	+0.0238%	1h	66.298	−0.013%	$80K	$38K	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.360	+0.080%	$23.9M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0270%	4h	66.330	+0.035%	$398K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0287%	1h	66.361	+0.082%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0325% / S −0.0333%	1h	66.355	+0.073%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.310	+0.005%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.306	−0.001%	$765K	$478K	25x	as long as short