Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0033%/8h= +3.6% APRpaid last 24h −0.006%

Price spread now: edgeX against Lighter+0.219%7-day average +0.015% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs+$6as in the Price arb table

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

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.119%−$12 on $10k

Price spread, last 4 days (all we have)−0.138%−$14 · spread now +0.219%, 7d avg +0.015%

Together, before fees−0.257%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and edgeX is 0.204% dearer against Lighter than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.015%. Mind the row above: over the last 7 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.221	0.0168	pay 0.0021% / 1h	49m 28s	$5.3M	$10.4M	25x
Short	edgeX XAGUSDC	66.366	0.0201	get 0.0100% / 4h	1h 49m	$673K	$314K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +0.219%Rate

Funding earned: $6.84
Price spread: +0.219% → +0.015%: $20.36
Slippage, 4 orders: −$5.62
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $12.58
Costs to cover: 0.146%
Break-even: from the start

Slippage from Lighter: live order book, 9 min ago; edgeX: live order book, 14 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, 9 min ago	0.39 bp	0.7 bp −$1	0.8 bp −$8	5.6 bp −$556	18.8 bp −$9,402
Sell edgeX live order book, 14 min ago	2.26 bp	6.8 bp −$7	6.8 bp −$68	9.2 bp −$917	21.2 bp −$10.6K

XAG on 43 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	66.178	−0.065%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.230	+0.013%	$151.3M	$161.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.250	+0.043%	$2K	$2.7M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.260	+0.058%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.250	+0.043%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.144	−0.117%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0024%	1h	66.194	−0.041%	$35K	$21K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0030%	1h	66.120	−0.153%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.214	−0.012%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.157	−0.097%	$5.3M	$12.1M	10x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.270%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.250	+0.043%	$797K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.661	+0.664%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.185	−0.055%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.171	−0.076%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.220	−0.002%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.213	−0.013%	$547K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.206	−0.023%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0090%	1h	66.174	−0.072%	$165.7M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.166	−0.084%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.180	−0.063%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.164%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0136%	8h	66.216	−0.008%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0138%	4h	66.218	−0.006%	$2.7M	$917K	100x	as long as short
Bybit XAGUSDT	+0.0141%	4h	66.230	+0.013%	$26.7M	$36.2M	150x	as long as short
Lighter XAGlong	+0.0168%	1h	66.221	long leg	$5.3M	$10.4M	25x
Aevo XAG-PERP	+0.0176%	1h	66.231	+0.014%	$48K	—	10x	as long as short
Variational Omni XAG	+0.0176%	4h	66.242	+0.031%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.231	+0.014%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDT	+0.0190%	4h	66.210	−0.017%	$110.4M	$151.9M	1000x	as long as short
Binance XAGUSDT	+0.0191%	4h	66.210	−0.017%	$191.8M	$706.1M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.194%	$1.9M	$972K	20x	as long as short
edgeX XAGUSDCshort	+0.0201%	4h	66.366	+0.219%	$673K	$314K	30x
OKX XAG-USDT-SWAP	+0.0216%	8h	66.220	−0.002%	$27.8M	$65.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.247	+0.039%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0238%	1h	66.171	−0.076%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0252%	4h	66.230	+0.013%	$23.9M	$46.1M	100x	as long as short
Hibachi XAG/USDT-P	+0.0256%	1h	66.199	−0.034%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0263%	1h	66.226	+0.007%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0278%	4h	66.277	+0.084%	$400K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0331% / S −0.0342%	1h	66.255	+0.051%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.220	−0.002%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.208	−0.020%	$763K	$475K	25x	as long as short