Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.010%

Price spread now: Lighter RH against SunX−0.042%7-day average −0.047% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

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

Long on SunX Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.069%+$7 on $10k

Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.042%, 7d avg −0.047%

Together, before fees+0.029%+ Points / potential airdropLighter RH: Points live · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.047%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX XAG-USDT	66.800	0	get 0.0000% / 4h	3h 46m	$2K	$3.0M	20x
Short	Lighter RH XAG	66.772	0.0032	get 0.0004% / 1h	46m 04s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now −0.042%Rate

Funding earned: $6.72
Price spread: −0.042% → −0.047%: $0.49
Slippage, 4 orders: −$61.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$62.74
Costs to cover: 0.699%
Break-even: 72.4 days

Slippage from SunX: live order book, 11 min ago; Lighter RH: 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 SunX live order book, 11 min ago	29.20 bp	33.2 bp −$33	doesn't fit	doesn't fit	doesn't fit
Sell Lighter RH live order book, 3 min ago	1.64 bp	1.9 bp −$2	2.9 bp −$29	18.8 bp −$1,876	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	66.743	−0.085%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.810	+0.015%	$26.1M	$35.3M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.790	−0.015%	$155.6M	$166.2M	100x	as long as short
SunX XAG-USDTlong	0.0000%	4h	66.800	long leg	$2K	$3.0M	20x
HTX XAG-USDT	0.0000%	4h	66.810	+0.015%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.790	−0.015%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.735	−0.097%	$121K	—	250x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.772	−0.042%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.735	−0.097%	$5.4M	$13.2M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.599%	$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	66.780	−0.030%	$804K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.241	+0.660%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.747	−0.079%	$57K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.753	−0.070%	$166.1M	$86.2M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.755	−0.067%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.739	−0.091%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.700	−0.150%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.770	−0.045%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.747	−0.079%	$573K	$21.9M	8.1x	as long as short
BloFin XAG-USDT	+0.0060%	4h	66.810	+0.015%	$2.6M	$692K	100x	as long as short
Lighter XAG	+0.0072%	1h	66.784	−0.025%	$5.4M	$10.4M	25x	as long as short
Hotstuff SILVER-PERP	+0.0080%	1h	66.796	−0.006%	$36K	$21K	20x	as long as short
Paradex XAG-USD-PERP	+0.0087%	8h	66.787	−0.019%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0092%	4h	66.785	−0.023%	$5.6M	$9.9M	—	as long as short
Aster XAGUSDT	+0.0098%	4h	66.794	−0.009%	$2.8M	$1.1M	100x	as long as short
Pacifica XAG	+0.0100%	1h	66.757	−0.064%	$476K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.760	−0.060%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.770	−0.045%	$127K	$26K	50x	as long as short
Binance XAGUSDT	+0.0103%	4h	66.796	−0.006%	$191.9M	$725.6M	100x	as long as short
MEXC SILVER_USDT	+0.0104%	4h	66.770	−0.045%	$108.6M	$157.0M	1000x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.783	−0.026%	$48K	—	10x	as long as short
edgeX XAGUSDC	+0.0114%	4h	66.841	+0.062%	$678K	$315K	30x	as long as short
GRVT XAG_USDT_Perp	+0.0118%	4h	66.810	+0.015%	$397K	$1.5M	25x	as long as short
Nado XAG-PERP	+0.0135%	1h	66.748	−0.078%	$1.3M	$6.5M	10x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.807	+0.010%	$1.3M	$4.2M	20x	as long as short
Bitget XAGUSDT	+0.0164%	4h	66.800	0.000%	$24.8M	$48.7M	100x	as long as short
Aftermath Perps XAGUSD	+0.0175%	1h	66.776	−0.036%	$80K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0183%	1h	66.794	−0.009%	$45K	$75K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.780	−0.030%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.790	−0.015%	$28.2M	$67.4M	50x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.742	−0.087%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.795	−0.007%	$104K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0349%	1h	66.790	−0.015%	$51K	$344K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0487%	1h	66.761	−0.059%	$766K	$589K	25x	as long as short