Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0071%/8h= −7.8% APRpaid last 24h −0.029%

Price spread now: Lighter RH against BloFin−0.350%721s7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs+$5as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.163% of the position

Long on BloFin Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 7 days+0.210%+$21 on $10k

Price spread, last 3 days (all we have)+0.284%+$28 · spread now −0.350%, 7d avg −0.045%

Together, before fees+0.494%+ Points / potential airdropLighter RH: Points live · farm board+$49 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter RH is 0.305% cheaper against BloFin than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of −0.045%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.210%, so the current rate has only just turned against you. The two prices were read 721 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin XAG-USDT	66.570	0.0103	pay 0.0052% / 4h	2h 36m	$2.6M	$624K	100x
Short	Lighter RH XAG	66.337	0.0032	get 0.0004% / 1h	36m 55s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH against BloFin. 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 BloFinbpFee Lighter RHbpOrdersPrice spread, now −0.350%Rate

Funding earned: −$14.95
Price spread: −0.350% → −0.045%: −$30.55
Slippage, 4 orders: −$4.33
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$61.83
Costs to cover: 0.163%
Break-even: never at this rate

Slippage from BloFin: live order book, 16 min ago; Lighter RH: live order book, 2 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 BloFin live order book, 16 min ago	0.75 bp	6.8 bp −$7	7.0 bp −$70	9.0 bp −$904	15.0 bp −$7,504
Sell Lighter RH live order book, 2 min ago	1.41 bp	1.4 bp −$1	2.2 bp −$22	15.8 bp −$1,584	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	66.294	−0.414%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.360	−0.315%	$153.3M	$162.2M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.360	−0.315%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.410	−0.240%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.370	−0.300%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.278	−0.438%	$120K	—	250x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.337	−0.350%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.304	−0.399%	$5.4M	$12.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	−0.255%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.420	−0.225%	$799K	$2.9M	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	66.810	+0.361%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.413	−0.236%	$56K	$26K	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.314	−0.385%	$3.9M	$669K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.275	−0.443%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.280	−0.436%	$5.7M	$9.5M	25x	as long as short
QFEX SILVER-USD	+0.0054%	1h	66.360	−0.315%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0061%	24h	66.336	−0.352%	$562K	$23.2M	8.1x	as long as short
RISEx XAG/USDC	+0.0079%	1h	66.375	−0.293%	$1.2M	$4.3M	20x	as long as short
Bybit XAGUSDT	+0.0080%	4h	66.390	−0.270%	$26.4M	$35.9M	150x	as long as short
tradeXYZ xyz:SILVER	+0.0094%	1h	66.334	−0.355%	$165.6M	$76.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.328	−0.364%	$472K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.320	−0.376%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.470	−0.150%	$126K	$23K	50x	as long as short
BloFin XAG-USDTlong	+0.0103%	4h	66.570	long leg	$2.6M	$624K	100x
Aster XAGUSDT	+0.0118%	4h	66.339	−0.348%	$2.7M	$967K	100x	as long as short
Paradex XAG-USD-PERP	+0.0123%	8h	66.372	−0.297%	$30K	$1K	5x	as long as short
Variational Omni XAG	+0.0129%	4h	66.505	−0.098%	$5.5M	$9.8M	—	as long as short
Aevo XAG-PERP	+0.0144%	1h	66.333	−0.356%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0152%	4h	66.350	−0.330%	$102.1M	$158.1M	1000x	as long as short
Binance XAGUSDT	+0.0153%	4h	66.369	−0.302%	$192.6M	$708.2M	100x	as long as short
Lighter XAG	+0.0160%	1h	66.350	−0.331%	$5.3M	$10.5M	25x	as long as short
edgeX XAGUSDC	+0.0166%	4h	66.514	−0.085%	$675K	$314K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.520	−0.075%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.380	−0.285%	$28.0M	$66.0M	50x	as long as short
Aftermath Perps XAGUSD	+0.0221%	1h	66.427	−0.214%	$80K	$38K	10x	as long as short
Hotstuff SILVER-PERP	+0.0224%	1h	66.368	−0.303%	$35K	$21K	20x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.370	−0.300%	$24.2M	$46.1M	100x	as long as short
Nado XAG-PERP	+0.0229%	1h	66.324	−0.369%	$1.3M	$6.5M	10x	as long as short
GRVT XAG_USDT_Perp	+0.0242%	4h	66.526	−0.067%	$391K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.473	−0.146%	$20K	$22K	10x	as long as short
Bullet SILVER-USD	+0.0278%	1h	66.353	−0.326%	$45K	$76K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0292% / S −0.0281%	1h	66.345	−0.338%	$103K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0463%	1h	66.308	−0.394%	$765K	$471K	25x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0504%	1h	66.340	−0.346%	$50K	$325K	20x	as long as short