Funding you earn now, next payment 11:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.03 per $10,000 · paid last 24h +0.008%
Price spread now: Coinbase International against Lighter+0.169%7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$11as in the Funding arb table
Net, price: spread back to 7d avg − costs+$1as in the Price arb table
costs, in and out, $10k−$170.168% of the position
Funding, last 7 days+0.059%+$6 on $10k
+Price spread, last 4 days (all we have)−0.091%−$9 · spread now +0.169%, 7d avg −0.013%
=Together, before fees−0.032%+ Points / potential airdropLighter: Season 3 · farm board−$3 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Coinbase International is 0.182% dearer against Lighter than usual: you sell high and buy low (spread +0.169% now, against its 7-day average of −0.013%): +$18 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 25 days. Mind the row above: over the last 7 days funding on this pair paid +0.059%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter XAG | 65.599 | 0.0128 | pay 0.0016% / 1h | 54m 26s | $5.3M | $11.8M | 25x |
| Short | Coinbase International SILVER-PERP-INTX | 65.710 | 0.0104 | get 0.0013% / 1h | 54m 26s | $1.6M | $1.9M | 20x |
Lighter XAG
Coinbase International SILVER-PERP-INTXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Coinbase International against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$5.04
- Price spread: +0.169% → −0.013%
- $18.17
- Slippage, 4 orders
- −$6.85
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Coinbase International: 5 bp × 2 orders
- −$10
- Net
- −$3.72
- Costs to cover
- 0.168%
- Break-even
- from the start
Slippage from Lighter: live order book, 7 min ago; Coinbase International: 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 Lighter live order book, 7 min ago | 0.39 bp | 0.5 bp −$1 | 1.1 bp −$11 | 5.8 bp −$578 | 18.2 bp −$9,079 |
| Sell Coinbase International live order book, 2 min ago | 0.76 bp | 8.8 bp −$9 | 9.7 bp −$97 | doesn't fit | doesn't fit |
XAG on 44 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Hotstuff SILVER-PERP | −0.0088% | 1h | 65.565 | −0.052% | $39K | $26K | 20x | as long as short |
| dYdX XAG-USD | 0.0000% | 1h | 65.521 | −0.119% | $13K | $8K | 5x | as long as short |
| RISEx XAG/USDC | 0.0000% | 1h | 65.619 | +0.030% | $1.3M | $5.4M | 20x | as long as short |
| Gate XAG_USDT | 0.0000% | 4h | 65.620 | +0.032% | $136.6M | $198.5M | 100x | as long as short |
| SunX XAG-USDT | 0.0000% | 4h | 65.590 | −0.014% | $2K | $2.4M | 20x | as long as short |
| HTX XAG-USDT | 0.0000% | 4h | 65.630 | +0.047% | $1.1M | $1.3M | 75x | as long as short |
| Phemex XAGUSDT | 0.0000% | 4h | 65.610 | +0.016% | $1.5M | $257K | 100x | as long as short |
| gTrade (Gains Network) XAG/USD | L +0.0004% / S −0.0006% | 1h | 65.554 | −0.068% | $119K | — | 250x | as long as short |
| Ondo Perps XAG-USD.P | +0.0025% | 1h | 65.520 | −0.121% | $5.7M | $11.1M | 25x | as long as short |
| Lighter RH XAG | +0.0032% | 1h | 65.605 | +0.008% | $4.6M | $9.5M | 25x | as long as short |
Hotstuff SILVER-PERP
dYdX XAG-USD
RISEx XAG/USDC
Gate XAG_USDT
SunX XAG-USDT
HTX XAG-USDT
Phemex XAGUSDT
gTrade (Gains Network) XAG/USD
Ondo Perps XAG-USD.P
Lighter RH XAGShow all 44 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended XAG-USD | +0.0032% | 1h | 65.550 | −0.075% | $5.1M | $11.9M | 10x | as long as short |
| Injective XAG/USDC PERP | +0.0033% | 1h | 64.602 | −1.520% | $11K | $240 | 52x | as long as short |
| StandX XAG-USD | +0.0040% | 1h | 65.590 | −0.014% | $789K | $3.0M | 40x | as long as short |
| QFEX SILVER-USD | +0.0042% | 1h | 65.600 | +0.001% | $446K | $1.4M | 20x | as long as short |
| Bybit XAGUSDT | +0.0043% | 4h | 65.630 | +0.047% | $30.5M | $47.8M | 150x | as long as short |
| Vest SI-PERP | +0.0046% | 1h | 66.037 | +0.667% | — | — | 25x | as long as short |
| Polymarket Perps SILVER-USD | +0.0050% | 1h | 65.576 | −0.036% | $3.8M | $905K | 20x | as long as short |
| SoDEX SILVER-USD | +0.0050% | 1h | 65.526 | −0.112% | $3K | $6K | 20x | as long as short |
| Variational Omni XAG | +0.0052% | 4h | 65.578 | −0.033% | $5.6M | $9.0M | — | as long as short |
| Paradex XAG-USD-PERP | +0.0052% | 8h | 65.597 | −0.004% | $29K | — | 5x | as long as short |
| Aster XAGUSDT | +0.0073% | 4h | 65.590 | −0.014% | $2.7M | $1.2M | 100x | as long as short |
| MEXC SILVER_USDT | +0.0074% | 4h | 65.610 | +0.016% | $114.5M | $162.8M | 1000x | as long as short |
| Binance XAGUSDT | +0.0076% | 4h | 65.625 | +0.039% | $190.4M | $863.2M | 100x | as long as short |
| edgeX XAGUSDC | +0.0087% | 4h | 65.624 | +0.038% | $669K | $313K | 30x | as long as short |
| Aevo XAG-PERP | +0.0088% | 1h | 65.576 | −0.035% | $47K | — | 10x | as long as short |
| GRVT XAG_USDT_Perp | +0.0096% | 4h | 65.674 | +0.114% | $389K | $1.6M | 25x | as long as short |
| Pacifica XAG | +0.0100% | 1h | 65.546 | −0.081% | $462K | $520K | 10x | as long as short |
| KuCoin XAGUSDTM | +0.0100% | 4h | 65.570 | −0.045% | $25.3M | $4.3M | 75x | as long as short |
| ApeX Omni XAGUSDT | +0.0100% | 1h | 65.610 | +0.016% | $112K | $19K | 50x | as long as short |
| Coinbase International SILVER-PERP-INTXshort | +0.0104% | 1h | 65.710 | +0.169% | $1.6M | $1.9M | 20x | |
| tradeXYZ xyz:SILVER | +0.0105% | 1h | 65.587 | −0.019% | $175.7M | $86.7M | 25x | as long as short |
| Kalshi KXSILVERPERP | +0.0107% | 24h | 65.584 | −0.023% | $792K | $38.8M | 8.1x | as long as short |
| Phoenix SILVER | +0.0122% | 1h | 65.584 | −0.023% | $55K | $15K | 25x | as long as short |
| Lighter XAGlong | +0.0128% | 1h | 65.599 | long leg | $5.3M | $11.8M | 25x | |
| Nado XAG-PERP | +0.0139% | 1h | 65.564 | −0.053% | $1.2M | $3.4M | 10x | as long as short |
| OKX XAG-USDT-SWAP | +0.0178% | 8h | 65.620 | +0.032% | $27.9M | $85.7M | 50x | as long as short |
| Deribit SILVER_USDC-PERPETUAL | +0.0208% | 1h | 65.570 | −0.045% | $77K | $409K | 20x | as long as short |
| Bitget XAGUSDT | +0.0214% | 4h | 65.620 | +0.032% | $23.1M | $52.8M | 100x | as long as short |
| Hibachi XAG/USDT-P | +0.0224% | 1h | 65.538 | −0.094% | $21K | $12K | 10x | as long as short |
| Aftermath Perps XAGUSD | +0.0226% | 1h | 65.609 | +0.015% | $79K | $37K | 10x | as long as short |
| Bullet SILVER-USD | +0.0227% | 1h | 65.625 | +0.039% | $45K | $73K | 10x | as long as short |
| GMX SILVER/USD [ETH-USDC] | L +0.0282% / S −0.0253% | 1h | 65.625 | +0.039% | $93K | — | 111x | as long as short |
| BloFin XAG-USDT | +0.0309% | 4h | 65.610 | +0.016% | $2.7M | $784K | 100x | as long as short |
| Kraken Futures PF_XAGUSD | +0.0540% | 1h | 65.567 | −0.049% | $1.0M | $943K | 25x | as long as short |
Extended XAG-USD
Injective XAG/USDC PERP
StandX XAG-USD
QFEX SILVER-USD
Bybit XAGUSDT
Vest SI-PERP
Polymarket Perps SILVER-USD
SoDEX SILVER-USD
Variational Omni XAG
Paradex XAG-USD-PERP
Aster XAGUSDT
MEXC SILVER_USDT
Binance XAGUSDT
edgeX XAGUSDC
Aevo XAG-PERP
GRVT XAG_USDT_Perp
Pacifica XAG
KuCoin XAGUSDTM
ApeX Omni XAGUSDT
tradeXYZ xyz:SILVER
Kalshi KXSILVERPERP
Phoenix SILVER
Nado XAG-PERP
OKX XAG-USDT-SWAP
Deribit SILVER_USDC-PERPETUAL
Bitget XAGUSDT
Hibachi XAG/USDT-P
Aftermath Perps XAGUSD
Bullet SILVER-USD
GMX SILVER/USD [ETH-USDC]
BloFin XAG-USDT
Kraken Futures PF_XAGUSD