Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0106%/8h= −11.6% APRpaid last 24h +0.015%

Price spread now: Lighter against OKX−0.063%7-day average −0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs$0as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$120.124% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 7 days+0.070%+$7 · spread now −0.063%, 7d avg −0.030%

Together, before fees+0.198%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Lighter is 0.032% cheaper against OKX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.030%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.128%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX XAG-USDT-SWAP	66.220	0.0138	pay 0.0138% / 8h	1h 49m	$27.3M	$67.6M	50x
Short	Lighter XAG	66.178	0.0032	get 0.0004% / 1h	49m 35s	$5.2M	$10.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now −0.063%Rate

Funding earned: −$22.33
Price spread: −0.063% → −0.030%: −$3.24
Slippage, 4 orders: −$2.36
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$37.92
Costs to cover: 0.124%
Break-even: never at this rate

Slippage from OKX: live order book, 4 min ago; Lighter: 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 OKX live order book, 4 min ago	0.76 bp	5.8 bp −$6	6.8 bp −$68	14.6 bp −$1,459	doesn't fit
Sell Lighter live order book, 4 min ago	0.23 bp	0.6 bp −$1	1.8 bp −$18	7.5 bp −$749	21.8 bp −$10.9K

XAG on 42 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	66.183	−0.055%	$777K	$594K	25x	as long as short
Hotstuff SILVER-PERP	−0.0032%	1h	66.159	−0.092%	$35K	$21K	20x	as long as short
BloFin XAG-USDT	−0.0009%	4h	66.180	−0.060%	$2.5M	$1.2M	100x	as long as short
dYdX XAG-USD	0.0000%	1h	66.121	−0.149%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.210	−0.015%	$25.5M	$34.1M	150x	as long as short
RISEx XAG/USDC	0.0000%	1h	66.210	−0.015%	$1.3M	$4.2M	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.190	−0.045%	$146.3M	$171.3M	100x	as long as short
Bitget XAGUSDT	0.0000%	4h	66.220	0.000%	$23.7M	$48.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	0.000%	$2K	$3.3M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.240	+0.030%	$1.0M	$1.1M	75x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Phemex XAGUSDT	0.0000%	4h	66.220	0.000%	$1.5M	$247K	100x	as long as short
Aster XAGUSDT	+0.0005%	4h	66.203	−0.025%	$2.8M	$1.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0012%	4h	66.162	−0.087%	$394K	$1.6M	25x	as long as short
QFEX SILVER-USD	+0.0016%	1h	66.200	−0.030%	$144K	$2.8M	20x	as long as short
Variational Omni XAG	+0.0031%	4h	66.189	−0.046%	$5.4M	$10.7M	—	as long as short
Lighter XAGshort	+0.0032%	1h	66.178	−0.063%	$5.2M	$10.7M	25x
Lighter RH XAG	+0.0032%	1h	66.170	−0.075%	$4.4M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.154	−0.099%	$5.4M	$14.8M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.272%	$11K	$94K	52x	as long as short
MEXC SILVER_USDT	+0.0040%	4h	66.210	−0.015%	$116.5M	$181.1M	1000x	as long as short
StandX XAG-USD	+0.0040%	1h	66.170	−0.076%	$792K	$2.8M	40x	as long as short
Binance XAGUSDT	+0.0041%	4h	66.213	−0.010%	$189.3M	$761.4M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.652	+0.652%	—	—	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.162	−0.088%	$164.1M	$91.5M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.185	−0.053%	$3.9M	$679K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.158	−0.094%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.130	−0.136%	$5.6M	$9.9M	25x	as long as short
Kalshi KXSILVERPERP	+0.0054%	24h	66.167	−0.080%	$591K	$21.3M	8.1x	as long as short
Aevo XAG-PERP	+0.0056%	1h	66.207	−0.019%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0056%	4h	66.191	−0.044%	$671K	$315K	30x	as long as short
Aftermath Perps XAGUSD	+0.0073%	1h	66.121	−0.149%	$80K	$40K	10x	as long as short
Phoenix SILVER	+0.0073%	1h	66.124	−0.145%	$56K	$26K	25x	as long as short
Paradex XAG-USD-PERP	+0.0091%	8h	66.196	−0.036%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.157	−0.095%	$474K	$641K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.076%	$24.3M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.110	−0.166%	$113K	$77K	50x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0104%	1h	66.140	−0.121%	$1.9M	$912K	20x	as long as short
Nado XAG-PERP	+0.0138%	1h	66.173	−0.071%	$1.3M	$6.5M	10x	as long as short
OKX XAG-USDT-SWAPlong	+0.0138%	8h	66.220	long leg	$27.3M	$67.6M	50x
Bullet SILVER-USD	+0.0151%	1h	66.224	+0.006%	$45K	$74K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0360% / S −0.0369%	1h	66.225	+0.008%	$103K	—	29x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0506%	1h	66.220	0.000%	$60K	$357K	20x	as long as short