Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0160%/8h= −17.5% APRpaid last 24h −0.041%

Price spread now: SunX against Lighter+0.040%7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$89as in the Funding arb table

Net, price: spread back to 7d avg − costs−$68as in the Price arb table

costs, in and out, $10k−$690.689% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 4 days (all we have)+0.011%+$1 · spread now +0.040%, 7d avg +0.032%

Together, before fees−0.186%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.032%, so right now this pair is about funding alone: −$5 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	65.344	0.0160	pay 0.0020% / 1h	36m 08s	$5.3M	$11.1M	25x
Short	SunX XAG-USDT	65.370	0	get 0.0000% / 4h	36m 08s	$2K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$33.6
Price spread: +0.040% → +0.032%: $0.79
Slippage, 4 orders: −$60.87
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$101.68
Costs to cover: 0.689%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; SunX: live order book, 11 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, 7 min ago	0.28 bp	0.9 bp −$1	1.0 bp −$10	4.5 bp −$451	15.6 bp −$7,823
Sell SunX live order book, 11 min ago	29.82 bp	33.8 bp −$34	63.0 bp −$630	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
Ondo Perps XAG-USD.P	−0.0043%	1h	65.270	−0.113%	$5.6M	$9.7M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.297	−0.071%	$12K	$5K	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	65.360	+0.025%	$27.8M	$39.3M	150x	as long as short
SunX XAG-USDTshort	0.0000%	4h	65.370	+0.040%	$2K	$2.5M	20x
HTX XAG-USDT	0.0000%	4h	65.380	+0.056%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.340	−0.006%	$1.5M	$281K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.318	−0.040%	$118K	—	250x	as long as short
Variational Omni XAG	+0.0008%	4h	65.432	+0.135%	$5.5M	$9.1M	—	as long as short
Aster XAGUSDT	+0.0023%	4h	65.360	+0.025%	$2.7M	$928K	100x	as long as short
MEXC SILVER_USDT	+0.0028%	4h	65.340	−0.006%	$118.7M	$157.3M	1000x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance XAGUSDT	+0.0029%	4h	65.350	+0.010%	$191.7M	$753.4M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.341	−0.004%	$4.6M	$9.8M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.324	−0.030%	$5.1M	$11.6M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.617%	$11K	$94K	52x	as long as short
Gate XAG_USDT	+0.0036%	4h	65.360	+0.025%	$140.8M	$178.1M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.350	+0.010%	$786K	$2.9M	40x	as long as short
edgeX XAGUSDC	+0.0042%	4h	65.378	+0.052%	$665K	$313K	30x	as long as short
QFEX SILVER-USD	+0.0044%	1h	65.370	+0.040%	$157K	$1.4M	20x	as long as short
Vest SI-PERP	+0.0046%	1h	65.798	+0.695%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.320	−0.036%	$35K	$21K	20x	as long as short
Aevo XAG-PERP	+0.0048%	1h	65.362	+0.028%	$47K	—	10x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.308	−0.055%	$169.7M	$81.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.354	+0.016%	$3.8M	$856K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.299	−0.068%	$3K	$6K	20x	as long as short
Paradex XAG-USD-PERP	+0.0052%	8h	65.355	+0.018%	$29K	$1K	5x	as long as short
Phoenix SILVER	+0.0061%	1h	65.297	−0.071%	$56K	$31K	25x	as long as short
Kalshi KXSILVERPERP	+0.0079%	24h	65.350	+0.010%	$531K	$31.8M	8.1x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0096%	1h	65.370	+0.040%	$1.6M	$1.4M	20x	as long as short
Pacifica XAG	+0.0100%	1h	65.322	−0.033%	$465K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.320	−0.036%	$25.3M	$4.7M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.390	+0.071%	$112K	$19K	50x	as long as short
RISEx XAG/USDC	+0.0118%	1h	65.384	+0.061%	$1.2M	$4.8M	20x	as long as short
BloFin XAG-USDT	+0.0119%	4h	65.380	+0.056%	$2.7M	$575K	100x	as long as short
GRVT XAG_USDT_Perp	+0.0128%	4h	65.357	+0.020%	$384K	$1.6M	25x	as long as short
Bitget XAGUSDT	+0.0156%	4h	65.350	+0.010%	$23.2M	$44.8M	100x	as long as short
Lighter XAGlong	+0.0160%	1h	65.344	long leg	$5.3M	$11.1M	25x
Nado XAG-PERP	+0.0161%	1h	65.343	−0.002%	$1.2M	$4.7M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0167%	8h	65.350	+0.010%	$28.2M	$70.0M	50x	as long as short
Hibachi XAG/USDT-P	+0.0176%	1h	65.313	−0.047%	$20K	$17K	10x	as long as short
Aftermath Perps XAGUSD	+0.0181%	1h	65.328	−0.024%	$79K	$37K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0209%	1h	65.360	+0.025%	$65K	$390K	20x	as long as short
Bullet SILVER-USD	+0.0222%	1h	65.391	+0.072%	$45K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.375	+0.048%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0363%	1h	65.340	−0.006%	$1.0M	$868K	25x	as long as short