Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0014%/8h= −1.5% APRpaid last 24h +0.009%

Price spread now: Lighter against edgeX−0.032%79s7-day average −0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3as 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−$150.151% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.121%+$12 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.032%, 7d avg −0.014%

Together, before fees+0.114%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.121%, so the current rate has only just turned against you. The two prices were read 79 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	edgeX XAGUSDC	66.629	0.0134	pay 0.0067% / 4h	14m 04s	$676K	$316K	30x
Short	Lighter XAG	66.608	0.0120	get 0.0015% / 1h	14m 04s	$5.2M	$10.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$2.86
Price spread: −0.032% → −0.014%: −$1.77
Slippage, 4 orders: −$6.09
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$19.72
Costs to cover: 0.151%
Break-even: never at this rate

Slippage from edgeX: live order book, 65 min ago; Lighter: live order book, 4 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 edgeX live order book, 65 min ago	2.26 bp	6.8 bp −$7	6.8 bp −$68	9.2 bp −$918	20.9 bp −$10.5K
Sell Lighter live order book, 4 min ago	0.67 bp	0.7 bp −$1	0.7 bp −$7	6.1 bp −$607	16.8 bp −$8,378

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	−0.104%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.650	+0.031%	$26.5M	$34.7M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.630	+0.001%	$156.1M	$174.8M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.630	+0.001%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.650	+0.031%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.630	+0.001%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.560	−0.104%	$120K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0008%	1h	66.605	−0.036%	$35K	$21K	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.607	−0.034%	$4.8M	$9.6M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.564	−0.098%	$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	−0.344%	$11K	$94K	52x	as long as short
Phoenix SILVER	+0.0036%	1h	66.531	−0.148%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.560	−0.104%	$797K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.067	+0.657%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.591	−0.057%	$3.9M	$699K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.558	−0.107%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.530	−0.149%	$5.7M	$10.0M	25x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.595	−0.051%	$581K	$21.3M	8.1x	as long as short
QFEX SILVER-USD	+0.0061%	1h	66.620	−0.014%	$125K	$2.8M	20x	as long as short
tradeXYZ xyz:SILVER	+0.0070%	1h	66.586	−0.065%	$166.0M	$87.0M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.585	−0.066%	$481K	$618K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.580	−0.074%	$24.6M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.600	−0.044%	$127K	$26K	50x	as long as short
Variational Omni XAG	+0.0103%	4h	66.615	−0.021%	$5.6M	$10.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0105%	8h	66.635	+0.009%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0113%	4h	66.625	−0.007%	$2.8M	$1.1M	100x	as long as short
Lighter XAGshort	+0.0120%	1h	66.608	−0.032%	$5.2M	$10.4M	25x
Aevo XAG-PERP	+0.0120%	1h	66.622	−0.011%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0122%	4h	66.620	−0.014%	$115.5M	$153.4M	1000x	as long as short
Binance XAGUSDT	+0.0123%	4h	66.630	+0.001%	$191.9M	$724.1M	100x	as long as short
edgeX XAGUSDClong	+0.0134%	4h	66.629	long leg	$676K	$316K	30x
Bitget XAGUSDT	+0.0156%	4h	66.640	+0.016%	$24.5M	$48.2M	100x	as long as short
BloFin XAG-USDT	+0.0157%	4h	66.610	−0.029%	$2.6M	$652K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0160%	1h	66.610	−0.029%	$1.9M	$851K	20x	as long as short
Aftermath Perps XAGUSD	+0.0171%	1h	66.550	−0.119%	$80K	$40K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0180%	4h	66.634	+0.008%	$401K	$1.5M	25x	as long as short
OKX XAG-USDT-SWAP	+0.0197%	8h	66.630	+0.001%	$28.0M	$66.8M	50x	as long as short
RISEx XAG/USDC	+0.0208%	1h	66.640	+0.016%	$1.3M	$4.2M	20x	as long as short
Bullet SILVER-USD	+0.0250%	1h	66.631	+0.003%	$45K	$75K	10x	as long as short
Nado XAG-PERP	+0.0254%	1h	66.597	−0.048%	$1.3M	$6.6M	10x	as long as short
Hibachi XAG/USDT-P	+0.0288%	1h	66.564	−0.099%	$20K	$22K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.625	−0.006%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0501%	1h	66.620	−0.014%	$50K	$351K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0595%	1h	66.594	−0.053%	$764K	$588K	25x	as long as short