Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: HTX against Lighter RH+0.038%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$260.261% of the position

Long on Lighter RH Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now +0.038%, 7d avg +0.082%

Together, before fees−0.013%+ Points / potential airdropLighter RH: Points live · farm board−$1 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 HTX is 0.044% cheaper against Lighter RH than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAG	66.155	0.0032	pay 0.0004% / 1h	44m 59s	$4.8M	$9.3M	25x
Short	HTX XAG-USDT	66.180	0	get 0.0000% / 4h	2h 44m	$1.1M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Lighter RH. 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 Lighter RHbpFee HTXbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$6.72
Price spread: +0.038% → +0.082%: −$4.42
Slippage, 4 orders: −$14.05
Fee Lighter RH: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$37.19
Costs to cover: 0.261%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; HTX: live order book, 4 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 RH live order book, 4 min ago	1.91 bp	2.0 bp −$2	2.6 bp −$26	22.4 bp −$2,238	doesn't fit
Sell HTX live order book, 4 min ago	3.78 bp	10.8 bp −$11	11.2 bp −$112	13.3 bp −$1,330	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	−0.0034%	1h	66.040	−0.174%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.104	−0.077%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.160	+0.008%	$2K	$2.6M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.180	+0.038%	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.170	+0.023%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.109	−0.069%	$121K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	66.171	+0.024%	$1.3M	$4.9M	20x	as long as short
Lighter RH XAGlong	+0.0032%	1h	66.155	long leg	$4.8M	$9.3M	25x
Extended XAG-USD	+0.0032%	1h	66.112	−0.065%	$5.2M	$11.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.370%	$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
Phoenix SILVER	+0.0036%	1h	66.100	−0.083%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.140	−0.023%	$796K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.589	+0.656%	—	—	25x	as long as short
Gate XAG_USDT	+0.0046%	4h	66.180	+0.038%	$149.9M	$154.0M	100x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.131	−0.036%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.110	−0.068%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.150	−0.008%	$114K	$2.7M	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	66.142	−0.019%	$30K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0064%	1h	66.129	−0.039%	$166.6M	$73.9M	25x	as long as short
Bybit XAGUSDT	+0.0068%	4h	66.180	+0.038%	$27.8M	$36.2M	150x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	66.116	−0.059%	$519K	$26.7M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.104	−0.076%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.130	−0.038%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.100	−0.083%	$113K	$30K	50x	as long as short
BloFin XAG-USDT	+0.0102%	4h	66.150	−0.008%	$2.6M	$571K	100x	as long as short
Aster XAGUSDT	+0.0106%	4h	66.160	+0.008%	$2.7M	$873K	100x	as long as short
Lighter XAG	+0.0136%	1h	66.160	+0.007%	$5.3M	$10.6M	25x	as long as short
Variational Omni XAG	+0.0144%	4h	66.123	−0.048%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0152%	1h	66.158	+0.005%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0157%	4h	66.168	+0.019%	$191.2M	$703.1M	100x	as long as short
MEXC SILVER_USDT	+0.0158%	4h	66.160	+0.008%	$116.5M	$151.8M	1000x	as long as short
Nado XAG-PERP	+0.0162%	1h	66.130	−0.039%	$1.4M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0167%	4h	66.132	−0.034%	$671K	$312K	30x	as long as short
Hotstuff SILVER-PERP	+0.0168%	1h	66.132	−0.035%	$35K	$21K	20x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.980	−0.265%	$1.8M	$1.0M	20x	as long as short
Aftermath Perps XAGUSD	+0.0194%	1h	66.101	−0.082%	$80K	$36K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0196%	4h	66.160	+0.008%	$389K	$1.5M	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.150	−0.008%	$74K	$364K	20x	as long as short
Bitget XAGUSDT	+0.0218%	4h	66.170	+0.023%	$24.0M	$44.8M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0219%	8h	66.160	+0.008%	$27.8M	$64.6M	50x	as long as short
Bullet SILVER-USD	+0.0223%	1h	66.166	+0.017%	$43K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0320%	1h	66.091	−0.097%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0443%	1h	66.165	+0.015%	$106K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0466%	1h	66.135	−0.030%	$909K	$688K	25x	as long as short