Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0071%/8h= +7.8% APRpaid last 24h +0.016%

Price spread now: Variational Omni against Lighter RH+0.024%7-day average +0.048% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter RH Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.003%$0 on $10k

Price spread, last 7 days−0.008%−$1 · spread now +0.024%, 7d avg +0.048%

Together, before fees−0.012%+ Points / potential airdropLighter RH: Points live · Variational Omni: Active · farm board−$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.024% cheaper against Lighter RH than usual: you would sell low and buy high (spread +0.024% now, against its 7-day average of +0.048%). If the spread goes back, that is −$2 on $10k: about 27 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter RH XAG	66.599	0.0032	pay 0.0004% / 1h	13m 13s	$4.8M	$9.6M	25x
Short	Variational Omni XAG	66.615	0.0103	get 0.0051% / 4h	13m 13s	$5.6M	$10.1M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.024%Rate

Funding earned: $14.89
Price spread: +0.024% → +0.048%: −$2.44
Slippage, 4 orders: no order book: not counted
Fee Lighter RH: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $12.46
Costs to cover: 0.000%
Break-even: 1.1 days

Slippage unknown: Lighter RH: live order book, 5 min ago; Variational Omni: RFQ quote, 1 min ago. Net counts fees only.

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, 5 min ago	1.73 bp	1.7 bp −$2	4.1 bp −$41	21.7 bp −$2,175	doesn't fit
Sell Variational Omni RFQ quote, 1 min ago	2.57 bp	doesn't fit	2.6 bp −$26	5.4 bp −$537	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	66.560	−0.059%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.650	+0.076%	$26.5M	$34.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.640	+0.061%	$156.1M	$174.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.630	+0.046%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.660	+0.091%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.620	+0.031%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.556	−0.066%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.596	−0.005%	$35K	$21K	20x	as long as short
Lighter RH XAGlong	+0.0032%	1h	66.599	long leg	$4.8M	$9.6M	25x
Extended XAG-USD	+0.0032%	1h	66.557	−0.064%	$5.5M	$12.2M	10x	as long as short

Show all 44 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.299%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.596	−0.005%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.580	−0.029%	$797K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.065	+0.699%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.594	−0.008%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.550	−0.074%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.530	−0.104%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.584	−0.023%	$581K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.610	+0.016%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0071%	1h	66.585	−0.022%	$166.0M	$87.0M	25x	as long as short
BloFin XAG-USDT	+0.0089%	4h	66.600	+0.001%	$2.6M	$652K	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.573	−0.039%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.580	−0.029%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.590	−0.014%	$127K	$26K	50x	as long as short
Variational Omni XAGshort	+0.0103%	4h	66.615	+0.024%	$5.6M	$10.1M	—
Paradex XAG-USD-PERP	+0.0105%	8h	66.616	+0.026%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.618	+0.028%	$2.8M	$1.1M	100x	as long as short
Lighter XAG	+0.0120%	1h	66.603	+0.005%	$5.2M	$10.4M	25x	as long as short
Aevo XAG-PERP	+0.0120%	1h	66.612	+0.019%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.620	+0.031%	$115.5M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0122%	4h	66.622	+0.034%	$191.9M	$723.3M	100x	as long as short
edgeX XAGUSDC	+0.0130%	4h	66.608	+0.013%	$676K	$316K	30x	as long as short
Bitget XAGUSDT	+0.0156%	4h	66.630	+0.046%	$24.4M	$48.2M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.610	+0.016%	$1.9M	$851K	20x	as long as short
Aftermath Perps XAGUSD	+0.0171%	1h	66.556	−0.066%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.634	+0.052%	$401K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0198%	8h	66.640	+0.061%	$28.0M	$66.9M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.634	+0.052%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0250%	1h	66.629	+0.045%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.577	−0.033%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0280%	1h	66.571	−0.042%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.625	+0.038%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0351%	1h	66.600	+0.001%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.588	−0.017%	$764K	$588K	25x	as long as short