Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0044%/8h= −4.8% APRpaid last 24h −0.010%

Price spread now: MEXC against Lighter−0.018%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$20.023% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.137%−$14 on $10k

Price spread, last 7 days+0.057%+$6 · spread now −0.018%, 7d avg +0.022%

Together, before fees−0.080%+ Points / potential airdropLighter: Season 3 · farm board−$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and MEXC is 0.041% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	65.642	0.0136	pay 0.0017% / 1h	27m 39s	$5.1M	$11.7M	25x
Short	MEXC SILVER_USDT	65.630	0.0092	get 0.0046% / 4h	1h 27m	$118.5M	$164.6M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.018%Rate

Funding earned: −$9.24
Price spread: −0.018% → +0.022%: −$4.07
Slippage, 4 orders: −$2.33
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$15.64
Costs to cover: 0.023%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; MEXC: 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, 4 min ago	0.28 bp	0.3 bp $0	0.6 bp −$6	7.0 bp −$699	18.4 bp −$9,182
Sell MEXC live order book, 5 min ago	0.76 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$76	3.3 bp −$1,670

XAG on 44 exchanges

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	−3.2000%	1h	65.632	−0.015%	$36K	$23K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	65.586	−0.085%	$13K	$8K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.660	+0.027%	$138.2M	$205.5M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.670	+0.043%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.680	+0.058%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.680	+0.058%	$1.5M	$255K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.603	−0.060%	$119K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0031%	1h	65.550	−0.140%	$5.6M	$11.1M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	65.634	−0.012%	$4.5M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.581	−0.092%	$5.1M	$11.8M	10x	as long as short

Show all 44 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−1.584%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	65.670	+0.043%	$790K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.048	+0.619%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.630	−0.018%	$3.8M	$907K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.602	−0.061%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.620	−0.034%	$447K	$1.4M	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	65.617	−0.039%	$29K	—	5x	as long as short
Variational Omni XAG	+0.0067%	4h	65.630	−0.019%	$5.7M	$9.1M	—	as long as short
tradeXYZ xyz:SILVER	+0.0072%	1h	65.617	−0.038%	$175.4M	$95.0M	25x	as long as short
Bybit XAGUSDT	+0.0080%	4h	65.640	−0.003%	$30.4M	$48.3M	150x	as long as short
Aster XAGUSDT	+0.0088%	4h	65.640	−0.003%	$2.7M	$1.2M	100x	as long as short
Binance XAGUSDT	+0.0091%	4h	65.634	−0.012%	$191.5M	$865.5M	100x	as long as short
MEXC SILVER_USDTshort	+0.0092%	4h	65.630	−0.018%	$118.5M	$164.6M	1000x
Pacifica XAG	+0.0100%	1h	65.587	−0.084%	$464K	$559K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.610	−0.049%	$25.4M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.600	−0.064%	$112K	$19K	50x	as long as short
Kalshi KXSILVERPERP	+0.0102%	24h	65.667	+0.038%	$797K	$39.0M	8.1x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.651	+0.013%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	65.620	−0.034%	$1.6M	$1.9M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0108%	4h	65.649	+0.011%	$386K	$1.6M	25x	as long as short
edgeX XAGUSDC	+0.0111%	4h	65.637	−0.008%	$669K	$313K	30x	as long as short
RISEx XAG/USDC	+0.0116%	1h	65.639	−0.005%	$1.3M	$5.2M	20x	as long as short
Phoenix SILVER	+0.0122%	1h	65.611	−0.047%	$55K	$14K	25x	as long as short
Nado XAG-PERP	+0.0135%	1h	65.590	−0.078%	$1.2M	$3.5M	10x	as long as short
Lighter XAGlong	+0.0136%	1h	65.642	long leg	$5.1M	$11.7M	25x
OKX XAG-USDT-SWAP	+0.0197%	8h	65.620	−0.034%	$28.1M	$85.7M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0207%	1h	65.640	−0.003%	$77K	$414K	20x	as long as short
Bullet SILVER-USD	+0.0216%	1h	65.674	+0.048%	$45K	$73K	10x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	65.633	−0.014%	$79K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0228%	4h	65.650	+0.012%	$23.2M	$53.0M	100x	as long as short
Hibachi XAG/USDT-P	+0.0232%	1h	65.617	−0.038%	$21K	$12K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0274% / S −0.0243%	1h	65.685	+0.066%	$93K	—	111x	as long as short
BloFin XAG-USDT	+0.0333%	4h	65.670	+0.043%	$2.7M	$764K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0547%	1h	65.643	+0.002%	$1.0M	$952K	25x	as long as short