Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0192%/8h= −21.0% APRpaid last 24h −0.041%

Price spread now: HTX against Lighter+0.035%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.200%−$20 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now +0.035%, 7d avg +0.072%

Together, before fees−0.057%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and HTX is 0.037% cheaper against Lighter than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.072%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	66.367	0.0192	pay 0.0024% / 1h	24m 36s	$5.3M	$10.5M	25x
Short	HTX XAG-USDT	66.390	0	get 0.0000% / 4h	1h 24m	$1.0M	$1.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.035%Rate

Funding earned: −$40.32
Price spread: +0.035% → +0.072%: −$3.67
Slippage, 4 orders: −$19.89
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$75.88
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; HTX: 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 Lighter live order book, 4 min ago	0.04 bp	0.0 bp $0	0.1 bp −$1	4.8 bp −$478	17.2 bp −$8,600
Sell HTX live order book, 4 min ago	3.77 bp	13.1 bp −$13	20.5 bp −$205	doesn't fit	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	66.272	−0.143%	$15K	—	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.341	−0.039%	$35K	$21K	20x	as long as short
Gate XAG_USDT	0.0000%	4h	66.390	+0.035%	$150.4M	$164.3M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.350	−0.025%	$2K	$2.7M	20x	as long as short
HTX XAG-USDTshort	0.0000%	4h	66.390	+0.035%	$1.0M	$1.1M	75x
Phemex XAGUSDT	0.0000%	4h	66.390	+0.035%	$1.5M	$251K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.296	−0.107%	$121K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	66.356	−0.016%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.311	−0.083%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.050%	$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	66.310	−0.086%	$798K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.793	+0.642%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.331	−0.054%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.296	−0.107%	$3K	$6K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.260	−0.161%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.370	+0.005%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0065%	24h	66.311	−0.084%	$536K	$24.6M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.308	−0.089%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0097%	1h	66.340	−0.040%	$166.1M	$73.4M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.323	−0.066%	$472K	$610K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.330	−0.055%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.280	−0.131%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0134%	8h	66.366	−0.001%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.378	+0.017%	$2.7M	$877K	100x	as long as short
Bybit XAGUSDT	+0.0154%	4h	66.410	+0.065%	$26.9M	$36.1M	150x	as long as short
BloFin XAG-USDT	+0.0175%	4h	66.340	−0.040%	$2.6M	$553K	100x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.359	−0.012%	$48K	—	10x	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.390	+0.035%	$1.3M	$4.5M	20x	as long as short
Variational Omni XAG	+0.0184%	4h	66.321	−0.068%	$5.6M	$9.8M	—	as long as short
Lighter XAGlong	+0.0192%	1h	66.367	long leg	$5.3M	$10.5M	25x
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	−0.025%	$1.9M	$988K	20x	as long as short
MEXC SILVER_USDT	+0.0196%	4h	66.370	+0.005%	$105.4M	$153.6M	1000x	as long as short
Binance XAGUSDT	+0.0196%	4h	66.391	+0.036%	$192.3M	$705.1M	100x	as long as short
edgeX XAGUSDC	+0.0204%	4h	66.323	−0.066%	$673K	$313K	30x	as long as short
Nado XAG-PERP	+0.0211%	1h	66.333	−0.050%	$1.3M	$6.6M	10x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.390	+0.035%	$27.8M	$65.9M	50x	as long as short
Aftermath Perps XAGUSD	+0.0234%	1h	66.277	−0.136%	$80K	$37K	10x	as long as short
Bitget XAGUSDT	+0.0246%	4h	66.380	+0.020%	$23.8M	$45.8M	100x	as long as short
GRVT XAG_USDT_Perp	+0.0268%	4h	66.347	−0.030%	$402K	$1.5M	25x	as long as short
Hibachi XAG/USDT-P	+0.0272%	1h	66.270	−0.146%	$20K	$19K	10x	as long as short
Bullet SILVER-USD	+0.0280%	1h	66.363	−0.006%	$46K	$75K	10x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0351% / S −0.0372%	1h	66.365	−0.003%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0353%	1h	66.350	−0.025%	$50K	$322K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0549%	1h	66.333	−0.051%	$915K	$671K	25x	as long as short