Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0008%/8h= −0.9% APRpaid last 24h −0.017%

Price spread now: Bybit against Lighter+0.048%7-day average +0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$140.136% of the position

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.155%−$16 on $10k

Price spread, last 7 days−0.015%−$2 · spread now +0.048%, 7d avg +0.048%

Together, before fees−0.170%+ Points / potential airdropLighter: Season 3 · farm board−$17 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.049	0.0112	pay 0.0014% / 1h	13m 39s	$5.2M	$10.9M	25x
Short	Bybit XAGUSDT	66.080	0.0104	get 0.0052% / 4h	3h 13m	$27.8M	$36.5M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now +0.048%Rate

Funding earned: −$1.64
Price spread: +0.048% → +0.048%: −$0.02
Slippage, 4 orders: −$2.58
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$15.24
Costs to cover: 0.136%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Bybit: 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 Lighter live order book, 5 min ago	0.36 bp	0.5 bp $0	1.1 bp −$11	5.8 bp −$579	16.2 bp −$8,125
Sell Bybit live order book, 5 min ago	0.76 bp	6.3 bp −$6	8.2 bp −$82	14.6 bp −$1,465	58.8 bp −$29.4K

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	−0.0057%	1h	65.960	−0.134%	$5.7M	$9.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.091%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.070	+0.032%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.080	+0.048%	$1.0M	$949K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.060	+0.017%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.993	−0.084%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.024	−0.037%	$35K	$21K	20x	as long as short
Gate XAG_USDT	+0.0030%	4h	66.070	+0.032%	$149.8M	$164.2M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.050	+0.003%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.995	−0.080%	$5.2M	$11.5M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.532%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.060	+0.017%	$795K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.478	+0.650%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.024	−0.037%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	65.994	−0.083%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0054%	1h	66.030	−0.028%	$166.3M	$74.0M	25x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	66.044	−0.007%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.050	+0.002%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	66.008	−0.061%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	66.020	−0.043%	$557K	$26.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.061	+0.019%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.000	−0.074%	$470K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.030	−0.028%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.010	−0.058%	$113K	$30K	50x	as long as short
Bybit XAGUSDTshort	+0.0104%	4h	66.080	+0.048%	$27.8M	$36.5M	150x
Lighter XAGlong	+0.0112%	1h	66.049	long leg	$5.2M	$10.9M	25x
Aster XAGUSDT	+0.0121%	4h	66.066	+0.026%	$2.7M	$866K	100x	as long as short
Variational Omni XAG	+0.0165%	4h	66.053	+0.007%	$5.6M	$9.5M	—	as long as short
BloFin XAG-USDT	+0.0165%	4h	66.060	+0.017%	$2.6M	$563K	100x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.053	+0.006%	$47K	—	10x	as long as short
Nado XAG-PERP	+0.0176%	1h	66.012	−0.056%	$1.4M	$5.8M	10x	as long as short
MEXC SILVER_USDT	+0.0176%	4h	66.050	+0.002%	$115.0M	$152.7M	1000x	as long as short
Binance XAGUSDT	+0.0177%	4h	66.060	+0.017%	$191.6M	$702.0M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0178%	4h	66.079	+0.047%	$395K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0186%	4h	66.058	+0.015%	$670K	$312K	30x	as long as short
Aftermath Perps XAGUSD	+0.0191%	1h	66.046	−0.003%	$80K	$36K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	66.030	−0.028%	$1.8M	$1.0M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0225%	8h	66.060	+0.017%	$27.7M	$64.6M	50x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.060	+0.017%	$23.9M	$45.2M	100x	as long as short
Bullet SILVER-USD	+0.0231%	1h	66.064	+0.023%	$44K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.020	−0.043%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.040	−0.013%	$75K	$363K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0440%	1h	66.065	+0.025%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	66.029	−0.029%	$911K	$683K	25x	as long as short