Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0105%/8h= −11.5% APRpaid last 24h −0.022%

Price spread now: Lighter RH against Variational Omni−0.043%7-day average −0.048% · 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 RH

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.043%, 7d avg −0.048%

Together, before fees−0.001%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	65.665	0.0137	pay 0.0069% / 4h	2h 29m	$5.6M	$9.5M	—
Short	Lighter RH XAG	65.637	0.0032	get 0.0004% / 1h	29m 40s	$4.7M	$9.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.043%Rate

Funding earned: −$22.14
Price spread: −0.043% → −0.048%: $0.56
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$21.58
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Lighter RH: live order book, 4 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, 5 min ago	2.58 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit
Sell Lighter RH live order book, 4 min ago	0.56 bp	0.6 bp −$1	1.5 bp −$15	23.4 bp −$2,341	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	65.620	−0.068%	$5.6M	$9.4M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.655	−0.015%	$12K	$5K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.720	+0.084%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.740	+0.114%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.750	+0.130%	$1.5M	$264K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.659	−0.010%	$120K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	65.740	+0.114%	$1.3M	$4.9M	20x	as long as short
Lighter RH XAGshort	+0.0032%	1h	65.637	−0.043%	$4.7M	$9.4M	25x
Extended XAG-USD	+0.0032%	1h	65.657	−0.013%	$5.1M	$11.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+1.120%	$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	65.634	−0.047%	$56K	$26K	25x	as long as short
Gate XAG_USDT	+0.0040%	4h	65.720	+0.084%	$148.1M	$167.6M	100x	as long as short
StandX XAG-USD	+0.0040%	1h	65.700	+0.054%	$790K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.140	+0.724%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	65.694	+0.044%	$3.9M	$704K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.662	−0.004%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	65.720	+0.084%	$156K	$2.8M	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.700	+0.054%	$72K	$366K	20x	as long as short
Hotstuff SILVER-PERP	+0.0056%	1h	65.560	−0.160%	$35K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0059%	8h	65.692	+0.041%	$29K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0063%	1h	65.642	−0.035%	$166.2M	$76.4M	25x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	65.697	+0.049%	$562K	$27.3M	8.1x	as long as short
Bybit XAGUSDT	+0.0091%	4h	65.700	+0.054%	$28.4M	$38.7M	150x	as long as short
Aster XAGUSDT	+0.0099%	4h	65.640	−0.038%	$2.7M	$928K	100x	as long as short
Pacifica XAG	+0.0100%	1h	65.641	−0.036%	$467K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.640	−0.038%	$24.7M	$4.8M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.600	−0.099%	$112K	$30K	50x	as long as short
Lighter XAG	+0.0112%	1h	65.629	−0.054%	$5.4M	$11.0M	25x	as long as short
Aevo XAG-PERP	+0.0136%	1h	65.712	+0.072%	$47K	—	10x	as long as short
Variational Omni XAGlong	+0.0137%	4h	65.665	long leg	$5.6M	$9.5M	—
MEXC SILVER_USDT	+0.0148%	4h	65.640	−0.038%	$127.2M	$156.5M	1000x	as long as short
Binance XAGUSDT	+0.0148%	4h	65.660	−0.007%	$190.8M	$720.0M	100x	as long as short
Nado XAG-PERP	+0.0156%	1h	65.696	+0.047%	$1.3M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0157%	4h	65.780	+0.176%	$669K	$313K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.680	+0.023%	$1.7M	$1.3M	20x	as long as short
GRVT XAG_USDT_Perp	+0.0190%	4h	65.700	+0.053%	$390K	$1.5M	25x	as long as short
BloFin XAG-USDT	+0.0206%	4h	65.670	+0.008%	$2.6M	$605K	100x	as long as short
Bitget XAGUSDT	+0.0212%	4h	65.720	+0.084%	$24.5M	$46.8M	100x	as long as short
Aftermath Perps XAGUSD	+0.0214%	1h	65.773	+0.165%	$79K	$36K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0218%	8h	65.710	+0.069%	$27.4M	$68.6M	50x	as long as short
Bullet SILVER-USD	+0.0230%	1h	65.730	+0.099%	$43K	$76K	10x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.608	−0.086%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0366% / S −0.0360%	1h	65.725	+0.092%	$93K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0469%	1h	65.706	+0.062%	$919K	$749K	25x	as long as short