Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.011%

Price spread now: Bybit against Lighter RH−0.006%7-day average +0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on Lighter RH Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.023%−$2 on $10k

Price spread, last 7 days+0.044%+$4 · spread now −0.006%, 7d avg +0.065%

Together, before fees+0.021%+ Points / potential airdropLighter RH: Points live · farm board+$2 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 0.072% cheaper against Lighter RH than usual: you would sell low and buy high (spread −0.006% now, against its 7-day average of +0.065%). If the spread goes back, that is −$7 on $10k: about 4.8 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAG	66.434	0.0032	pay 0.0004% / 1h	34m 37s	$4.8M	$9.5M	25x
Short	Bybit XAGUSDT	66.430	0.0082	get 0.0041% / 4h	2h 34m	$26.4M	$35.9M	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter RH. 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 Lighter RHbpFee BybitbpOrdersPrice spread, now −0.006%Rate

Funding earned: $10.5
Price spread: −0.006% → +0.065%: −$7.16
Slippage, 4 orders: −$4.45
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$12.11
Costs to cover: 0.154%
Break-even: 15.1 days

Slippage from Lighter RH: live order book, 4 min ago; Bybit: 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 RH live order book, 4 min ago	1.41 bp	1.4 bp −$1	3.5 bp −$35	22.7 bp −$2,274	doesn't fit
Sell Bybit live order book, 4 min ago	0.75 bp	6.3 bp −$6	8.3 bp −$83	14.8 bp −$1,481	57.5 bp −$28.8K

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
Hotstuff SILVER-PERP	−0.0008%	1h	66.447	+0.019%	$35K	$21K	20x	as long as short
dYdX XAG-USD	0.0000%	1h	66.421	−0.019%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.420	−0.022%	$153.3M	$162.6M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.500	+0.099%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.500	+0.099%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.470	+0.054%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.406	−0.043%	$120K	—	250x	as long as short
Lighter RH XAGlong	+0.0032%	1h	66.434	long leg	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.358	−0.116%	$5.4M	$12.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.052%	$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	66.410	−0.037%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.883	+0.675%	—	—	25x	as long as short
Ondo Perps XAG-USD.P	+0.0046%	1h	66.320	−0.172%	$5.7M	$9.6M	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.346	−0.133%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.440	+0.009%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.393	−0.062%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.460	+0.039%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.421	−0.020%	$631K	$23.3M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.440	+0.008%	$1.2M	$4.3M	20x	as long as short
Bybit XAGUSDTshort	+0.0082%	4h	66.430	−0.006%	$26.4M	$35.9M	150x
tradeXYZ xyz:SILVER	+0.0094%	1h	66.393	−0.062%	$165.8M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.366	−0.103%	$472K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.410	−0.037%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.310	−0.187%	$126K	$23K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.570	+0.204%	$2.6M	$624K	100x	as long as short
Aster XAGUSDT	+0.0119%	4h	66.430	−0.006%	$2.8M	$960K	100x	as long as short
Paradex XAG-USD-PERP	+0.0125%	8h	66.416	−0.028%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0140%	4h	66.405	−0.045%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.461	+0.040%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0154%	4h	66.420	−0.022%	$102.4M	$158.1M	1000x	as long as short
Binance XAGUSDT	+0.0158%	4h	66.420	−0.022%	$192.7M	$708.1M	100x	as long as short
edgeX XAGUSDC	+0.0166%	4h	66.514	+0.119%	$675K	$314K	30x	as long as short
Lighter XAG	+0.0176%	1h	66.421	−0.020%	$5.3M	$10.5M	25x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	+0.129%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0199%	8h	66.420	−0.022%	$28.0M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0219%	1h	66.432	−0.004%	$80K	$38K	10x	as long as short
Nado XAG-PERP	+0.0228%	1h	66.393	−0.062%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0230%	4h	66.420	−0.022%	$24.0M	$46.1M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0242%	4h	66.526	+0.137%	$391K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.302	−0.199%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0282%	1h	66.474	+0.060%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.485	+0.076%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.440	+0.009%	$50K	$325K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0462%	1h	66.445	+0.016%	$766K	$482K	25x	as long as short