Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0136%/8h= −14.9% APRpaid last 24h −0.041%

Price spread now: HTX against Lighter+0.050%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$220.221% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.207%−$21 on $10k

Price spread, last 3 days (all we have)+0.033%+$3 · spread now +0.050%, 7d avg +0.073%

Together, before fees−0.174%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and HTX is 0.023% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.073%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.217	0.0136	pay 0.0017% / 1h	23m 49s	$5.1M	$10.9M	25x
Short	HTX XAG-USDT	66.250	0	get 0.0000% / 4h	1h 23m	$1.0M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$28.56
Price spread: +0.050% → +0.073%: −$2.33
Slippage, 4 orders: −$10.1
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$53
Costs to cover: 0.221%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; HTX: live order book, 5 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	0.40 bp	0.5 bp −$1	0.9 bp −$9	5.6 bp −$557	17.4 bp −$8,710
Sell HTX live order book, 5 min ago	4.53 bp	10.5 bp −$11	10.5 bp −$105	13.7 bp −$1,375	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
Kraken Futures PF_XAGUSD	−0.0272%	1h	66.204	−0.020%	$766K	$569K	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.175	−0.063%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.240	+0.035%	$25.6M	$33.3M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.228	+0.017%	$1.3M	$4.2M	20x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.188	−0.044%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.230	+0.020%	$146.3M	$172.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.050%	$2K	$3.1M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.250	+0.050%	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.240	+0.035%	$1.5M	$248K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.159	−0.087%	$120K	—	250x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX SILVER-USD	+0.0016%	1h	66.220	+0.005%	$152K	$2.8M	20x	as long as short
BloFin XAG-USDT	+0.0027%	4h	66.220	+0.005%	$2.5M	$846K	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.217	0.000%	$4.7M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.163	−0.082%	$5.5M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.277%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	−0.056%	$792K	$2.7M	40x	as long as short
Aster XAGUSDT	+0.0044%	4h	66.241	+0.037%	$2.8M	$1.0M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.663	+0.674%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.190	−0.041%	$164.9M	$88.2M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.202	−0.023%	$3.9M	$694K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.158	−0.089%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.130	−0.131%	$5.7M	$9.9M	25x	as long as short
Bitget XAGUSDT	+0.0052%	4h	66.240	+0.035%	$23.7M	$47.6M	100x	as long as short
Kalshi KXSILVERPERP	+0.0057%	24h	66.180	−0.056%	$583K	$21.3M	8.1x	as long as short
Variational Omni XAG	+0.0064%	4h	66.227	+0.015%	$5.5M	$10.5M	—	as long as short
Phoenix SILVER	+0.0073%	1h	66.167	−0.075%	$56K	$26K	25x	as long as short
MEXC SILVER_USDT	+0.0076%	4h	66.230	+0.020%	$118.0M	$181.8M	1000x	as long as short
Binance XAGUSDT	+0.0078%	4h	66.230	+0.020%	$189.9M	$728.3M	100x	as long as short
Aevo XAG-PERP	+0.0088%	1h	66.229	+0.018%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0089%	4h	66.236	+0.029%	$672K	$316K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0092%	4h	66.268	+0.076%	$390K	$1.5M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.169	−0.072%	$473K	$625K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.200	−0.026%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.200	−0.026%	$113K	$26K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.190	−0.041%	$1.9M	$859K	20x	as long as short
Hibachi XAG/USDT-P	+0.0112%	1h	66.180	−0.056%	$20K	$22K	10x	as long as short
Paradex XAG-USD-PERP	+0.0119%	8h	66.208	−0.013%	$30K	$1K	5x	as long as short
Aftermath Perps XAGUSD	+0.0124%	1h	66.199	−0.026%	$80K	$40K	10x	as long as short
Lighter XAGlong	+0.0136%	1h	66.217	long leg	$5.1M	$10.9M	25x
OKX XAG-USDT-SWAP	+0.0165%	8h	66.240	+0.035%	$27.3M	$66.3M	50x	as long as short
Nado XAG-PERP	+0.0220%	1h	66.173	−0.066%	$1.3M	$6.5M	10x	as long as short
Bullet SILVER-USD	+0.0268%	1h	66.235	+0.027%	$44K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0302% / S −0.0300%	1h	66.235	+0.027%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0506%	1h	66.220	+0.005%	$51K	$359K	20x	as long as short