Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0024%/8h= −2.6% APRpaid last 24h +0.014%

Price spread now: Lighter against Variational Omni−0.004%7-day average −0.030% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.038%+$4 on $10k

Price spread, last 7 days+0.016%+$2 · spread now −0.004%, 7d avg −0.030%

Together, before fees+0.054%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.026% dearer against Variational Omni than usual: you sell high and buy low (spread −0.004% now, against its 7-day average of −0.030%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.193	0.0208	pay 0.0104% / 4h	23m 40s	$5.6M	$9.7M	—
Short	Lighter XAG	66.190	0.0184	get 0.0023% / 1h	23m 40s	$5.2M	$10.6M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.004%Rate

Funding earned: −$4.95
Price spread: −0.004% → −0.030%: $2.62
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$2.33
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter: live order book, 5 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 Variational Omni RFQ quote, 1 min ago	2.57 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.11 bp	0.1 bp $0	1.2 bp −$12	5.8 bp −$576	17.2 bp −$8,590

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	66.086	−0.161%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.210	+0.026%	$150.2M	$163.4M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.180	−0.019%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.220	+0.041%	$1.0M	$971K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.200	+0.011%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.122	−0.107%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.186	−0.010%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.139	−0.081%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.313%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.180	−0.019%	$796K	$3.1M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	66.620	+0.645%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0048%	1h	66.060	−0.201%	$5.7M	$9.6M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.153	−0.060%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.128	−0.098%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.160	−0.049%	$115K	$2.7M	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	66.154	−0.059%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.141	−0.078%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0070%	24h	66.141	−0.078%	$525K	$25.4M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.141	−0.078%	$471K	$622K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.170	−0.034%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.130	−0.095%	$113K	$30K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0124%	1h	66.163	−0.045%	$165.7M	$73.9M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.199	+0.009%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0145%	4h	66.180	−0.019%	$2.7M	$877K	100x	as long as short
Paradex XAG-USD-PERP	+0.0145%	8h	66.190	−0.004%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0166%	4h	66.200	+0.011%	$27.0M	$36.2M	150x	as long as short
Lighter XAGshort	+0.0184%	1h	66.190	−0.004%	$5.2M	$10.6M	25x
Aevo XAG-PERP	+0.0200%	1h	66.184	−0.014%	$48K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.120	−0.110%	$1.8M	$1.0M	20x	as long as short
Nado XAG-PERP	+0.0201%	1h	66.136	−0.086%	$1.3M	$6.5M	10x	as long as short
Variational Omni XAGlong	+0.0208%	4h	66.193	long leg	$5.6M	$9.7M	—
MEXC SILVER_USDT	+0.0212%	4h	66.190	−0.004%	$110.0M	$152.6M	1000x	as long as short
Binance XAGUSDT	+0.0213%	4h	66.200	+0.011%	$192.9M	$701.1M	100x	as long as short
Aftermath Perps XAGUSD	+0.0220%	1h	66.144	−0.074%	$80K	$37K	10x	as long as short
edgeX XAGUSDC	+0.0229%	4h	66.149	−0.066%	$671K	$310K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0232%	8h	66.200	+0.011%	$27.8M	$65.4M	50x	as long as short
BloFin XAG-USDT	+0.0254%	4h	66.170	−0.034%	$2.6M	$554K	100x	as long as short
Bitget XAGUSDT	+0.0258%	4h	66.200	+0.011%	$23.8M	$45.5M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0280%	4h	66.200	+0.011%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0294%	1h	66.197	+0.006%	$44K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0355%	1h	66.180	−0.019%	$62K	$348K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	66.140	−0.080%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0381% / S −0.0421%	1h	66.195	+0.003%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0484%	1h	66.159	−0.051%	$913K	$676K	25x	as long as short