Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0120%/8h= +13.1% APRpaid last 24h +0.040%

Price spread now: Lighter against SunX−0.060%7-day average −0.035% · you buy dearer than you sell

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

Long on SunX Short on Lighter

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)−0.002%$0 · spread now −0.060%, 7d avg −0.035%

Together, before fees+0.200%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.025% cheaper against SunX than usual: you would sell low and buy high (spread −0.060% now, against its 7-day average of −0.035%). If the spread goes back, that is −$3 on $10k: about 17 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.480	0	get 0.0000% / 4h	3h 23m	$2K	$3.0M	20x
Short	Lighter XAG	66.440	0.0120	get 0.0015% / 1h	23m 43s	$5.4M	$10.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.060%Rate

Funding earned: $25.2
Price spread: −0.060% → −0.035%: −$2.54
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $14.66
Costs to cover: 0.080%
Break-even: 2.9 days

Slippage unknown: SunX: live order book, 4 min ago; Lighter: live order book, 5 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 SunX live order book, 4 min ago	256.33 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.47 bp	0.5 bp −$1	0.6 bp −$6	9.6 bp −$960	22.7 bp −$11.3K

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	66.422	−0.087%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.480	0.000%	$25.7M	$35.6M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.480	0.000%	$154.8M	$168.2M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.480	long leg	$2K	$3.0M	20x
HTX XAG-USDT	0.0000%	4h	66.510	+0.045%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.510	+0.045%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.424	−0.084%	$120K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.432	−0.072%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.398	−0.123%	$5.4M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.120%	$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	66.520	+0.060%	$800K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.936	+0.686%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.473	−0.011%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.455	−0.038%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.404	−0.114%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.350	−0.196%	$5.7M	$9.6M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.460	−0.030%	$115K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0052%	1h	66.413	−0.101%	$165.2M	$84.8M	25x	as long as short
Kalshi KXSILVERPERP	+0.0059%	24h	66.443	−0.056%	$561K	$21.5M	8.1x	as long as short
Hotstuff SILVER-PERP	+0.0064%	1h	66.419	−0.092%	$35K	$21K	20x	as long as short
BloFin XAG-USDT	+0.0081%	4h	66.550	+0.105%	$2.6M	$706K	100x	as long as short
Aster XAGUSDT	+0.0085%	4h	66.460	−0.030%	$2.8M	$1.1M	100x	as long as short
Variational Omni XAG	+0.0089%	4h	66.514	+0.051%	$5.6M	$9.9M	—	as long as short
Paradex XAG-USD-PERP	+0.0098%	8h	66.445	−0.052%	$30K	$1K	5x	as long as short
Pacifica XAG	+0.0100%	1h	66.407	−0.110%	$474K	$623K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.410	−0.105%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.480	0.000%	$126K	$24K	50x	as long as short
Binance XAGUSDT	+0.0100%	4h	66.451	−0.043%	$192.3M	$723.3M	100x	as long as short
MEXC SILVER_USDT	+0.0102%	4h	66.460	−0.030%	$108.6M	$160.3M	1000x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.469	−0.016%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0111%	4h	66.544	+0.096%	$675K	$313K	30x	as long as short
Lighter XAGshort	+0.0120%	1h	66.440	−0.060%	$5.4M	$10.5M	25x
GRVT XAG_USDT_Perp	+0.0130%	4h	66.535	+0.083%	$391K	$1.5M	25x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.464	−0.023%	$1.2M	$4.2M	20x	as long as short
Nado XAG-PERP	+0.0168%	1h	66.438	−0.064%	$1.3M	$6.5M	10x	as long as short
Bitget XAGUSDT	+0.0172%	4h	66.460	−0.030%	$24.5M	$47.9M	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.580	+0.150%	$1.9M	$929K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0191%	8h	66.460	−0.030%	$27.9M	$67.2M	50x	as long as short
Aftermath Perps XAGUSD	+0.0198%	1h	66.483	+0.004%	$80K	$39K	10x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.480	0.000%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0225%	1h	66.499	+0.028%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.485	+0.008%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0352%	1h	66.470	−0.015%	$50K	$336K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0489%	1h	66.451	−0.043%	$764K	$565K	25x	as long as short