Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.040%

Price spread now: HTX against Lighter+0.015%7-day average +0.073% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$310.307% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now +0.015%, 7d avg +0.073%

Together, before fees−0.155%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and HTX is 0.057% cheaper against Lighter than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.073%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.450	0.0152	pay 0.0019% / 1h	58m 45s	$5.3M	$10.3M	25x
Short	HTX XAG-USDT	66.460	0	get 0.0000% / 4h	2h 58m	$1.1M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.015%Rate

Funding earned: −$31.92
Price spread: +0.015% → +0.073%: −$5.74
Slippage, 4 orders: −$18.68
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$68.34
Costs to cover: 0.307%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; HTX: 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	0.19 bp	0.2 bp $0	0.4 bp −$4	4.5 bp −$447	16.3 bp −$8,137
Sell HTX live order book, 5 min ago	4.50 bp	17.7 bp −$18	23.6 bp −$236	36.0 bp −$3,604	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	66.475	+0.039%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.490	+0.060%	$25.5M	$35.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.450	0.000%	$154.3M	$159.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.410	−0.060%	$2K	$2.9M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.460	+0.015%	$1.1M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.430	−0.030%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.355	−0.143%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.464	+0.022%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.372	−0.117%	$5.4M	$12.5M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.075%	$11K	$94K	52x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
StandX XAG-USD	+0.0040%	1h	66.530	+0.121%	$801K	$2.8M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.901	+0.679%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	66.518	+0.103%	$35K	$21K	20x	as long as short
Phoenix SILVER	+0.0048%	1h	66.507	+0.086%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.429	−0.031%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.339	−0.167%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.380	−0.105%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.470	+0.030%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.410	−0.060%	$583K	$22.6M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.496	+0.070%	$1.2M	$4.2M	20x	as long as short
Aster XAGUSDT	+0.0097%	4h	66.401	−0.073%	$2.7M	$1.0M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.484	+0.051%	$474K	$611K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.400	−0.075%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.530	+0.121%	$127K	$24K	50x	as long as short
tradeXYZ xyz:SILVER	+0.0105%	1h	66.442	−0.012%	$165.8M	$85.1M	25x	as long as short
Variational Omni XAG	+0.0108%	4h	66.543	+0.141%	$5.6M	$9.8M	—	as long as short
Paradex XAG-USD-PERP	+0.0112%	8h	66.511	+0.093%	$30K	$1K	5x	as long as short
Bullet SILVER-USD	+0.0121%	1h	66.440	−0.015%	$45K	$76K	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.430	−0.030%	$108.4M	$155.7M	1000x	as long as short
edgeX XAGUSDC	+0.0123%	4h	66.552	+0.154%	$675K	$315K	30x	as long as short
Binance XAGUSDT	+0.0125%	4h	66.463	+0.020%	$193.3M	$720.6M	100x	as long as short
Aevo XAG-PERP	+0.0128%	1h	66.395	−0.082%	$48K	—	10x	as long as short
Lighter XAGlong	+0.0152%	1h	66.450	long leg	$5.3M	$10.3M	25x
BloFin XAG-USDT	+0.0169%	4h	66.450	0.000%	$2.6M	$686K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.410	−0.060%	$1.9M	$965K	20x	as long as short
Nado XAG-PERP	+0.0188%	1h	66.409	−0.061%	$1.3M	$6.5M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0193%	8h	66.470	+0.030%	$28.0M	$66.7M	50x	as long as short
GRVT XAG_USDT_Perp	+0.0194%	4h	66.551	+0.152%	$402K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0196%	4h	66.470	+0.030%	$24.6M	$46.6M	100x	as long as short
Aftermath Perps XAGUSD	+0.0208%	1h	66.478	+0.043%	$80K	$39K	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.505	+0.083%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.415	−0.052%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.380	−0.105%	$50K	$331K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.392	−0.086%	$766K	$562K	25x	as long as short