Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.008%

Price spread now: MEXC against Lighter−0.013%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

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

costs, in and out, $10k−$30.030% of the position

Long on Lighter Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.136%−$14 on $10k

Price spread, last 7 days+0.067%+$7 · spread now −0.013%, 7d avg +0.023%

Together, before fees−0.069%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and MEXC is 0.036% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	65.088	0.0240	pay 0.0030% / 1h	19m 50s	$5.2M	$11.3M	25x
Short	MEXC SILVER_USDT	65.080	0.0094	get 0.0047% / 4h	3h 19m	$124.0M	$160.3M	1000x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$30.66
Price spread: −0.013% → +0.023%: −$3.6
Slippage, 4 orders: −$2.98
Fee Lighter: 0 bp × 2 orders: $0
Fee MEXC: 0 bp × 2 orders: $0
Net: −$37.24
Costs to cover: 0.030%
Break-even: never at this rate

Slippage from Lighter: live order book, 9 min ago; MEXC: live order book, 4 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	0.60 bp	0.8 bp −$1	1.1 bp −$11	5.2 bp −$521	18.2 bp −$9,120
Sell MEXC live order book, 4 min ago	0.77 bp	0.8 bp −$1	0.8 bp −$8	1.4 bp −$139	4.2 bp −$2,093

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	65.013	−0.116%	$12K	$6K	5x	as long as short
SunX XAG-USDT	0.0000%	4h	65.030	−0.090%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.030	−0.090%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.030	−0.090%	$1.5M	$346K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	64.953	−0.207%	$117K	—	250x	as long as short
Gate XAG_USDT	+0.0016%	4h	65.130	+0.064%	$138.3M	$187.9M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	65.068	−0.031%	$4.5M	$9.9M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	64.973	−0.178%	$5.0M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	64.602	−0.747%	$11K	$240	52x	as long as short
StandX XAG-USD	+0.0040%	1h	64.970	−0.182%	$781K	$3.0M	40x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Vest SI-PERP	+0.0046%	1h	65.431	+0.527%	—	—	25x	as long as short
QFEX SILVER-USD	+0.0047%	1h	65.000	−0.136%	$446K	$1.5M	20x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	64.990	−0.151%	$3.8M	$890K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	64.953	−0.208%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	64.900	−0.289%	$5.6M	$10.1M	25x	as long as short
Variational Omni XAG	+0.0065%	4h	65.026	−0.096%	$5.4M	$9.2M	—	as long as short
edgeX XAGUSDC	+0.0071%	4h	64.801	−0.442%	$660K	$314K	30x	as long as short
Paradex XAG-USD-PERP	+0.0076%	8h	65.002	−0.132%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0080%	1h	64.840	−0.381%	$1.6M	$1.5M	20x	as long as short
Kalshi KXSILVERPERP	+0.0087%	24h	64.993	−0.146%	$488K	$35.1M	8.1x	as long as short
MEXC SILVER_USDTshort	+0.0094%	4h	65.080	−0.013%	$124.0M	$160.3M	1000x
Pacifica XAG	+0.0100%	1h	64.949	−0.214%	$463K	$591K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.020	−0.105%	$25.1M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	64.750	−0.520%	$111K	$19K	50x	as long as short
Aevo XAG-PERP	+0.0104%	1h	65.017	−0.109%	$47K	—	10x	as long as short
Binance XAGUSDT	+0.0105%	4h	65.070	−0.028%	$198.4M	$790.4M	100x	as long as short
Phoenix SILVER	+0.0111%	1h	64.615	−0.727%	$55K	$31K	25x	as long as short
Aster XAGUSDT	+0.0122%	4h	65.070	−0.028%	$2.7M	$1.0M	100x	as long as short
Hotstuff SILVER-PERP	+0.0128%	1h	64.968	−0.185%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0136%	1h	65.068	−0.031%	$173.5M	$89.0M	25x	as long as short
RISEx XAG/USDC	+0.0158%	1h	65.030	−0.089%	$1.2M	$4.9M	20x	as long as short
Nado XAG-PERP	+0.0166%	1h	64.979	−0.169%	$1.2M	$4.2M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0210%	8h	65.070	−0.028%	$29.1M	$76.3M	50x	as long as short
Aftermath Perps XAGUSD	+0.0218%	1h	64.827	−0.401%	$78K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0220%	4h	65.120	+0.049%	$23.0M	$48.4M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0237% / S −0.0196%	1h	65.025	−0.097%	$92K	—	111x	as long as short
Lighter XAGlong	+0.0240%	1h	65.088	long leg	$5.2M	$11.3M	25x
GRVT XAG_USDT_Perp	+0.0298%	4h	64.847	−0.371%	$386K	$1.6M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	65.025	−0.097%	$45K	$75K	10x	as long as short
BloFin XAG-USDT	+0.0336%	4h	64.980	−0.166%	$2.7M	$697K	100x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0366%	1h	65.010	−0.120%	$76K	$435K	20x	as long as short
Hibachi XAG/USDT-P	+0.0368%	1h	64.890	−0.305%	$20K	$15K	10x	as long as short
Bybit XAGUSDT	+0.0382%	4h	65.080	−0.013%	$30.2M	$43.6M	150x	as long as short
Kraken Futures PF_XAGUSD	+0.0419%	1h	65.003	−0.131%	$1.0M	$894K	25x	as long as short