Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.041%

Price spread now: Lighter against SunX+0.006%7-day average −0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$680.676% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.205%+$21 on $10k

Price spread, last 3 days (all we have)−0.070%−$7 · spread now +0.006%, 7d avg −0.035%

Together, before fees+0.135%+ Points / potential airdropLighter: Season 3 · farm board+$14 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Lighter is 0.041% dearer against SunX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.470	0	get 0.0000% / 4h	23m 31s	$2K	$3.0M	20x
Short	Lighter XAG	66.474	0.0120	get 0.0015% / 1h	23m 31s	$5.2M	$10.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.006%Rate

Funding earned: $25.2
Price spread: +0.006% → −0.035%: $4.12
Slippage, 4 orders: −$59.55
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$38.23
Costs to cover: 0.676%
Break-even: 17.6 days

Slippage from SunX: live order book, 4 min ago; Lighter: 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 SunX live order book, 4 min ago	29.37 bp	33.4 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.36 bp	0.4 bp $0	0.4 bp −$4	5.7 bp −$568	18.4 bp −$9,205

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
dYdX XAG-USD	0.0000%	1h	66.430	−0.060%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.490	+0.030%	$26.2M	$34.5M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.480	+0.015%	$154.4M	$173.3M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.470	long leg	$2K	$3.0M	20x
HTX XAG-USDT	0.0000%	4h	66.490	+0.030%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.510	+0.060%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.419	−0.077%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.453	−0.026%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.423	−0.071%	$5.5M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.105%	$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	66.409	−0.092%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.420	−0.075%	$795K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.924	+0.683%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.454	−0.024%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.418	−0.078%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.390	−0.120%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.428	−0.063%	$593K	$21.4M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.470	0.000%	$124K	$2.8M	20x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.445	−0.038%	$35K	$21K	20x	as long as short
BloFin XAG-USDT	+0.0072%	4h	66.490	+0.030%	$2.6M	$651K	100x	as long as short
tradeXYZ xyz:SILVER	+0.0074%	1h	66.443	−0.041%	$165.6M	$86.8M	25x	as long as short
Variational Omni XAG	+0.0100%	4h	66.457	−0.019%	$5.6M	$10.1M	—	as long as short
Pacifica XAG	+0.0100%	1h	66.433	−0.056%	$480K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.440	−0.045%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.420	−0.075%	$126K	$26K	50x	as long as short
Paradex XAG-USD-PERP	+0.0109%	8h	66.470	0.000%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0112%	4h	66.490	+0.030%	$2.8M	$1.1M	100x	as long as short
Lighter XAGshort	+0.0120%	1h	66.474	+0.006%	$5.2M	$10.4M	25x
MEXC SILVER_USDT	+0.0120%	4h	66.470	0.000%	$114.9M	$153.2M	1000x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.463	−0.010%	$48K	—	10x	as long as short
Binance XAGUSDT	+0.0121%	4h	66.480	+0.015%	$192.5M	$723.4M	100x	as long as short
edgeX XAGUSDC	+0.0128%	4h	66.480	+0.014%	$674K	$314K	30x	as long as short
Bitget XAGUSDT	+0.0144%	4h	66.490	+0.030%	$24.3M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.410	−0.090%	$1.9M	$853K	20x	as long as short
Aftermath Perps XAGUSD	+0.0167%	1h	66.409	−0.092%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0174%	4h	66.458	−0.019%	$396K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0195%	8h	66.490	+0.030%	$27.9M	$66.6M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.491	+0.032%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0256%	1h	66.493	+0.034%	$45K	$76K	10x	as long as short
Nado XAG-PERP	+0.0259%	1h	66.433	−0.055%	$1.3M	$6.6M	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.485	+0.023%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.426	−0.066%	$20K	$22K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0503%	1h	66.450	−0.030%	$50K	$369K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0596%	1h	66.430	−0.060%	$762K	$586K	25x	as long as short