Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: SunX against Lighter RH+0.024%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$700.699% of the position

Long on Lighter RH Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$6 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now +0.024%, 7d avg +0.046%

Together, before fees+0.051%+ Points / potential airdropLighter RH: Points live · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.022% cheaper against Lighter RH than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.046%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAG	66.094	0.0032	pay 0.0004% / 1h	34m 54s	$4.8M	$9.4M	25x
Short	SunX XAG-USDT	66.110	0	get 0.0000% / 4h	34m 54s	$2K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.024%Rate

Funding earned: −$6.72
Price spread: +0.024% → +0.046%: −$2.19
Slippage, 4 orders: −$61.93
Fee Lighter RH: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$78.84
Costs to cover: 0.699%
Break-even: never at this rate

Slippage from Lighter RH: live order book, 4 min ago; SunX: live order book, 3 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	1.44 bp	1.5 bp −$2	2.6 bp −$26	20.4 bp −$2,035	doesn't fit
Sell SunX live order book, 3 min ago	29.47 bp	33.5 bp −$33	63.1 bp −$631	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	66.022	−0.109%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.120	+0.039%	$150.1M	$163.2M	100x	as long as short
SunX XAG-USDTshort	0.0000%	4h	66.110	+0.024%	$2K	$2.7M	20x
HTX XAG-USDT	0.0000%	4h	66.140	+0.069%	$1.0M	$978K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.120	+0.039%	$1.5M	$317K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.040	−0.082%	$120K	—	250x	as long as short
Lighter RH XAGlong	+0.0032%	1h	66.094	long leg	$4.8M	$9.4M	25x
Extended XAG-USD	+0.0032%	1h	66.036	−0.088%	$5.2M	$11.7M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.462%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.130	+0.054%	$795K	$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	66.532	+0.662%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.065	−0.044%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.041	−0.081%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	65.980	−0.173%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.090	−0.007%	$115K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0060%	1h	66.050	−0.067%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0069%	24h	66.065	−0.044%	$518K	$25.5M	8.1x	as long as short
Pacifica XAG	+0.0100%	1h	66.038	−0.085%	$470K	$619K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.080	−0.022%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.070	−0.037%	$113K	$30K	50x	as long as short
Hotstuff SILVER-PERP	+0.0120%	1h	66.074	−0.031%	$35K	$21K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0133%	1h	66.079	−0.023%	$165.4M	$74.0M	25x	as long as short
RISEx XAG/USDC	+0.0137%	1h	66.106	+0.017%	$1.3M	$4.5M	20x	as long as short
Aster XAGUSDT	+0.0147%	4h	66.100	+0.008%	$2.7M	$876K	100x	as long as short
Paradex XAG-USD-PERP	+0.0152%	8h	66.087	−0.012%	$30K	$1K	5x	as long as short
Bybit XAGUSDT	+0.0157%	4h	66.130	+0.054%	$27.0M	$36.2M	150x	as long as short
Nado XAG-PERP	+0.0194%	1h	66.038	−0.086%	$1.3M	$6.5M	10x	as long as short
Lighter XAG	+0.0200%	1h	66.102	+0.011%	$5.2M	$10.5M	25x	as long as short
Aevo XAG-PERP	+0.0200%	1h	66.103	+0.013%	$47K	—	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0200%	1h	66.130	+0.054%	$1.8M	$999K	20x	as long as short
BloFin XAG-USDT	+0.0201%	4h	66.110	+0.024%	$2.6M	$554K	100x	as long as short
Variational Omni XAG	+0.0210%	4h	66.123	+0.044%	$5.6M	$9.7M	—	as long as short
MEXC SILVER_USDT	+0.0216%	4h	66.100	+0.008%	$109.2M	$152.5M	1000x	as long as short
Binance XAGUSDT	+0.0217%	4h	66.112	+0.026%	$192.8M	$701.1M	100x	as long as short
edgeX XAGUSDC	+0.0220%	4h	66.135	+0.061%	$671K	$311K	30x	as long as short
Aftermath Perps XAGUSD	+0.0230%	1h	66.074	−0.031%	$80K	$37K	10x	as long as short
OKX XAG-USDT-SWAP	+0.0231%	8h	66.120	+0.039%	$27.8M	$65.4M	50x	as long as short
Bitget XAGUSDT	+0.0260%	4h	66.110	+0.024%	$23.8M	$45.7M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0286%	4h	66.160	+0.099%	$389K	$1.5M	25x	as long as short
Bullet SILVER-USD	+0.0310%	1h	66.109	+0.023%	$45K	$76K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.090	−0.007%	$62K	$348K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0375% / S −0.0409%	1h	66.115	+0.031%	$103K	—	111x	as long as short
Hibachi XAG/USDT-P	+0.0376%	1h	66.080	−0.022%	$20K	$19K	10x	as long as short
Kraken Futures PF_XAGUSD	+0.0485%	1h	66.067	−0.041%	$911K	$676K	25x	as long as short