Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.2% APRpaid last 24h −0.012%

Price spread now: Variational Omni against Lighter+0.034%7-day average +0.031% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.033%−$3 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.034%, 7d avg +0.031%

Together, before fees−0.084%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$8 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.031%, so right now this pair is about funding alone: −$1 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	66.572	0.0168	pay 0.0021% / 1h	47m 11s	$5.4M	$10.4M	25x
Short	Variational Omni XAG	66.595	0.0120	get 0.0060% / 4h	2h 47m	$5.6M	$9.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.034%Rate

Funding earned: −$10.02
Price spread: +0.034% → +0.031%: $0.32
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.69
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 6 min ago; Variational Omni: RFQ quote, 2 min ago. Net counts fees only.

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, 6 min ago	0.57 bp	0.7 bp −$1	2.2 bp −$22	6.1 bp −$611	17.5 bp −$8,768
Sell Variational Omni RFQ quote, 2 min ago	2.56 bp	doesn't fit	2.6 bp −$26	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
Hotstuff SILVER-PERP	−0.0032%	1h	66.478	−0.142%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.486	−0.130%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.540	−0.048%	$154.7M	$161.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.530	−0.063%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.570	−0.003%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.580	+0.012%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.479	−0.140%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.558	−0.022%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.474	−0.147%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.259%	$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	66.590	+0.027%	$801K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.966	+0.592%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.496	−0.114%	$56K	$26K	25x	as long as short
Bybit XAGUSDT	+0.0050%	4h	66.600	+0.042%	$26.5M	$36.0M	150x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.491	−0.122%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.491	−0.122%	$3K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.400	−0.259%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.520	−0.078%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.503	−0.104%	$566K	$23.0M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.521	−0.077%	$1.2M	$4.3M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.461	−0.167%	$473K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.480	−0.138%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.550	−0.033%	$127K	$23K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0101%	1h	66.504	−0.102%	$166.0M	$79.2M	25x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	−0.003%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0111%	4h	66.541	−0.047%	$2.8M	$1.0M	100x	as long as short
Paradex XAG-USD-PERP	+0.0119%	8h	66.510	−0.093%	$30K	$1K	5x	as long as short
Variational Omni XAGshort	+0.0120%	4h	66.595	+0.034%	$5.6M	$9.7M	—
Aevo XAG-PERP	+0.0136%	1h	66.546	−0.039%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0138%	4h	66.580	+0.012%	$108.5M	$156.6M	1000x	as long as short
edgeX XAGUSDC	+0.0141%	4h	66.584	+0.018%	$676K	$315K	30x	as long as short
Binance XAGUSDT	+0.0141%	4h	66.578	+0.009%	$193.1M	$711.9M	100x	as long as short
Lighter XAGlong	+0.0168%	1h	66.572	long leg	$5.4M	$10.4M	25x
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.550	−0.033%	$1.9M	$966K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0195%	8h	66.560	−0.018%	$28.1M	$66.3M	50x	as long as short
Bitget XAGUSDT	+0.0214%	4h	66.560	−0.018%	$24.5M	$46.2M	100x	as long as short
Aftermath Perps XAGUSD	+0.0219%	1h	66.515	−0.086%	$80K	$39K	10x	as long as short
Nado XAG-PERP	+0.0220%	1h	66.467	−0.158%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0224%	4h	66.601	+0.044%	$398K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.528	−0.067%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0285%	1h	66.542	−0.045%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.555	−0.026%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0461%	1h	66.510	−0.093%	$767K	$546K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0502%	1h	66.560	−0.018%	$50K	$331K	20x	as long as short