Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0028%/8h= −3.0% APRpaid last 24h −0.015%

Price spread now: Aster against Lighter+0.011%7-day average +0.034% · you sell dearer than you buy

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$100.100% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.149%−$15 on $10k

Price spread, last 7 days+0.002%$0 · spread now +0.011%, 7d avg +0.034%

Together, before fees−0.147%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Aster is 0.022% cheaper against Lighter than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.147	0.0136	pay 0.0017% / 1h	47m 15s	$5.3M	$10.6M	25x
Short	Aster XAGUSDT	66.155	0.0108	get 0.0054% / 4h	2h 47m	$2.7M	$873K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$5.8
Price spread: +0.011% → +0.034%: −$2.22
Slippage, 4 orders: −$1.95
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$17.98
Costs to cover: 0.100%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Aster: live order book, 1 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 Lighter live order book, 6 min ago	0.04 bp	0.0 bp $0	0.5 bp −$5	3.2 bp −$319	16.2 bp −$8,096
Sell Aster live order book, 1 min ago	0.76 bp	4.8 bp −$5	6.2 bp −$62	11.5 bp −$1,147	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
Ondo Perps XAG-USD.P	−0.0029%	1h	66.020	−0.192%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	66.104	−0.065%	$14K	$66	5x	as long as short
SunX XAG-USDT	0.0000%	4h	66.140	−0.011%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.190	+0.065%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.150	+0.005%	$1.5M	$257K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.094	−0.080%	$121K	—	250x	as long as short
RISEx XAG/USDC	+0.0030%	1h	66.146	−0.001%	$1.3M	$4.8M	20x	as long as short
Lighter RH XAG	+0.0032%	1h	66.142	−0.008%	$4.8M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.094	−0.079%	$5.2M	$11.4M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.382%	$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
Phoenix SILVER	+0.0036%	1h	66.096	−0.077%	$56K	$26K	25x	as long as short
StandX XAG-USD	+0.0040%	1h	66.140	−0.011%	$796K	$3.0M	40x	as long as short
Gate XAG_USDT	+0.0042%	4h	66.160	+0.020%	$149.9M	$154.0M	100x	as long as short
Vest SI-PERP	+0.0046%	1h	66.571	+0.641%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.112	−0.053%	$3.9M	$676K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.094	−0.080%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.120	−0.041%	$114K	$2.7M	20x	as long as short
Paradex XAG-USD-PERP	+0.0054%	8h	66.125	−0.033%	$30K	$1K	5x	as long as short
tradeXYZ xyz:SILVER	+0.0071%	1h	66.109	−0.057%	$166.7M	$73.8M	25x	as long as short
Kalshi KXSILVERPERP	+0.0075%	24h	66.112	−0.053%	$519K	$26.7M	8.1x	as long as short
Bybit XAGUSDT	+0.0077%	4h	66.170	+0.035%	$27.8M	$36.2M	150x	as long as short
Pacifica XAG	+0.0100%	1h	66.079	−0.103%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.110	−0.056%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.100	−0.071%	$113K	$30K	50x	as long as short
BloFin XAG-USDT	+0.0103%	4h	66.130	−0.026%	$2.6M	$571K	100x	as long as short
Aster XAGUSDTshort	+0.0108%	4h	66.155	+0.011%	$2.7M	$873K	100x
Lighter XAGlong	+0.0136%	1h	66.147	long leg	$5.3M	$10.6M	25x
Variational Omni XAG	+0.0151%	4h	66.143	−0.005%	$5.7M	$9.5M	—	as long as short
Aevo XAG-PERP	+0.0152%	1h	66.134	−0.019%	$47K	—	10x	as long as short
MEXC SILVER_USDT	+0.0160%	4h	66.150	+0.005%	$116.4M	$151.8M	1000x	as long as short
Binance XAGUSDT	+0.0161%	4h	66.150	+0.005%	$191.4M	$702.1M	100x	as long as short
Nado XAG-PERP	+0.0164%	1h	66.107	−0.061%	$1.4M	$5.5M	10x	as long as short
edgeX XAGUSDC	+0.0174%	4h	66.143	−0.005%	$671K	$312K	30x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0176%	1h	65.980	−0.252%	$1.8M	$1.0M	20x	as long as short
Aftermath Perps XAGUSD	+0.0196%	1h	66.096	−0.077%	$80K	$36K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0204%	1h	66.140	−0.011%	$74K	$364K	20x	as long as short
GRVT XAG_USDT_Perp	+0.0206%	4h	66.160	+0.020%	$395K	$1.5M	25x	as long as short
Bitget XAGUSDT	+0.0220%	4h	66.160	+0.020%	$24.0M	$44.8M	100x	as long as short
OKX XAG-USDT-SWAP	+0.0221%	8h	66.150	+0.005%	$27.8M	$64.6M	50x	as long as short
Bullet SILVER-USD	+0.0228%	1h	66.147	0.000%	$44K	$76K	10x	as long as short
Hotstuff SILVER-PERP	+0.0232%	1h	66.107	−0.060%	$35K	$21K	20x	as long as short
Hibachi XAG/USDT-P	+0.0320%	1h	66.100	−0.071%	$20K	$19K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0388% / S −0.0443%	1h	66.145	−0.003%	$106K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0466%	1h	66.122	−0.038%	$909K	$688K	25x	as long as short