XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0231%/8h= +25.3% APRnext payment +$0.29 per $10,000 · paid last 24h +0.046%

Price spread now: Deribit against Lighter−0.004%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$150.146% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.057%+$6 on $10k

Price spread, last 3 days (all we have)+0.049%+$5 · spread now −0.004%, 7d avg +0.015%

Together, before fees+0.107%+ Points / potential airdropLighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.015%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.057% in total (about 5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.29 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.603	0.0120	pay 0.0015% / 1h	13m 12s	$5.2M	$10.4M	25x
Short	Deribit SILVER_USDC-PERPETUAL	66.600	0.0351	get 0.0044% / 1h	13m 12s	$50K	$351K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.004%Rate

Funding earned: $48.5
Price spread: −0.004% → +0.015%: −$1.88
Slippage, 4 orders: −$7.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $32.06
Costs to cover: 0.146%
Break-even: 2.4 days

Slippage from Lighter: live order book, 5 min ago; Deribit: live order book, 65 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	0.67 bp	0.9 bp −$1	1.5 bp −$15	6.7 bp −$670	20.5 bp −$10.3K
Sell Deribit live order book, 65 min ago	0.75 bp	4.3 bp −$4	5.2 bp −$52	doesn't fit	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	66.560	−0.064%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.640	+0.056%	$26.5M	$34.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.620	+0.026%	$156.0M	$174.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.630	+0.041%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.660	+0.086%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.620	+0.026%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.556	−0.071%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.596	−0.010%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.599	−0.005%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.557	−0.069%	$5.5M	$12.2M	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	−0.304%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.596	−0.010%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.580	−0.034%	$797K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.065	+0.694%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.594	−0.013%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.550	−0.079%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.530	−0.109%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.584	−0.028%	$581K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.610	+0.011%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0070%	1h	66.572	−0.046%	$166.0M	$87.0M	25x	as long as short
BloFin XAG-USDT	+0.0089%	4h	66.600	−0.004%	$2.6M	$652K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.573	−0.044%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.570	−0.049%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.590	−0.019%	$127K	$26K	50x	as long as short
Variational Omni XAG	+0.0103%	4h	66.615	+0.019%	$5.6M	$10.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0105%	8h	66.616	+0.021%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.611	+0.013%	$2.8M	$1.1M	100x	as long as short
Lighter XAGlong	+0.0120%	1h	66.603	long leg	$5.2M	$10.4M	25x
Aevo XAG-PERP	+0.0120%	1h	66.612	+0.014%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.610	+0.011%	$115.5M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0122%	4h	66.618	+0.023%	$191.8M	$723.4M	100x	as long as short
edgeX XAGUSDC	+0.0130%	4h	66.608	+0.008%	$676K	$316K	30x	as long as short
Bitget XAGUSDT	+0.0156%	4h	66.630	+0.041%	$24.4M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.610	+0.011%	$1.9M	$851K	20x	as long as short
Aftermath Perps XAGUSD	+0.0171%	1h	66.556	−0.071%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.634	+0.048%	$401K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0198%	8h	66.620	+0.026%	$28.0M	$66.8M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.634	+0.047%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0250%	1h	66.629	+0.040%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.577	−0.038%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.571	−0.047%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.625	+0.033%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUALshort	+0.0351%	1h	66.600	−0.004%	$50K	$351K	20x
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.588	−0.022%	$764K	$588K	25x	as long as short