Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.011%

Price spread now: Lighter RH against Bybit−0.065%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on Bybit Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.023%+$2 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.065%, 7d avg −0.065%

Together, before fees+0.051%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.065%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit XAGUSDT	66.380	0.0080	pay 0.0040% / 4h	2h 37m	$26.4M	$35.9M	150x
Short	Lighter RH XAG	66.337	0.0032	get 0.0004% / 1h	37m 10s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against Bybit. 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 BybitbpFee Lighter RHbpOrdersPrice spread, now −0.065%Rate

Funding earned: −$10.07
Price spread: −0.065% → −0.065%: −$0.01
Slippage, 4 orders: −$4.45
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$25.53
Costs to cover: 0.154%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Lighter RH: live order book, 2 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 Bybit live order book, 2 min ago	0.75 bp	6.4 bp −$6	9.1 bp −$91	15.3 bp −$1,528	59.7 bp −$29.9K
Sell Lighter RH live order book, 2 min ago	1.41 bp	1.4 bp −$1	2.2 bp −$22	15.8 bp −$1,584	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
dYdX XAG-USD	0.0000%	1h	66.294	−0.129%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.360	−0.030%	$153.3M	$162.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.360	−0.030%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.410	+0.045%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.370	−0.015%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.278	−0.153%	$120K	—	250x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.337	−0.065%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.277	−0.155%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.030%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.420	+0.060%	$799K	$2.9M	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	66.810	+0.648%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	+0.050%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.314	−0.099%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.275	−0.158%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.280	−0.151%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.360	−0.030%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.336	−0.066%	$562K	$23.2M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.375	−0.008%	$1.2M	$4.3M	20x	as long as short
Bybit XAGUSDTlong	+0.0080%	4h	66.380	long leg	$26.4M	$35.9M	150x
tradeXYZ xyz:SILVER	+0.0094%	1h	66.307	−0.110%	$165.5M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.328	−0.078%	$472K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	−0.090%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.470	+0.136%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.286%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0118%	4h	66.350	−0.045%	$2.7M	$967K	100x	as long as short
Paradex XAG-USD-PERP	+0.0123%	8h	66.372	−0.011%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	+0.188%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.333	−0.071%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0152%	4h	66.350	−0.045%	$102.1M	$158.1M	1000x	as long as short
Binance XAGUSDT	+0.0153%	4h	66.360	−0.030%	$192.5M	$708.1M	100x	as long as short
Lighter XAG	+0.0160%	1h	66.350	−0.046%	$5.3M	$10.5M	25x	as long as short
edgeX XAGUSDC	+0.0166%	4h	66.514	+0.201%	$675K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.211%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.360	−0.030%	$28.0M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.427	+0.071%	$80K	$38K	10x	as long as short
Hotstuff SILVER-PERP	+0.0224%	1h	66.368	−0.018%	$35K	$21K	20x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.360	−0.030%	$24.2M	$46.1M	100x	as long as short
Nado XAG-PERP	+0.0229%	1h	66.324	−0.084%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0242%	4h	66.526	+0.219%	$391K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.473	+0.140%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.353	−0.041%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.345	−0.053%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.308	−0.108%	$765K	$471K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.340	−0.060%	$50K	$325K	20x	as long as short