XAG

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0126%/8h= −13.8% APRnext payment −$0.16 per $10,000 · paid last 24h −0.027%

Price spread now: Polymarket Perps against Lighter−0.068%7-day average −0.064% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 7 days+0.027%+$3 · spread now −0.068%, 7d avg −0.064%

Together, before fees−0.074%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.064%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter XAG	65.502	0.0176	pay 0.0022% / 1h	56m 28s	$5.1M	$11.3M	25x
Short	Polymarket Perps SILVER-USD	65.458	0.0050	get 0.0006% / 1h	56m 28s	$3.8M	$890K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now −0.068%Rate

Funding earned: −$26.46
Price spread: −0.068% → −0.064%: −$0.38
Slippage, 4 orders: −$4.99
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$39.83
Costs to cover: 0.130%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Polymarket Perps: 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 Lighter live order book, 7 min ago	0.55 bp	0.6 bp −$1	0.7 bp −$7	5.0 bp −$497	17.1 bp −$8,573
Sell Polymarket Perps live order book, 3 min ago	0.99 bp	5.1 bp −$5	7.9 bp −$79	29.5 bp −$2,955	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
Injective XAG/USDC PERP	−0.0220%	1h	64.602	−1.374%	$11K	$240	52x	as long as short
Ondo Perps XAG-USD.P	−0.0070%	1h	65.390	−0.171%	$5.7M	$10.2M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.477	−0.038%	$12K	$6K	5x	as long as short
Gate XAG_USDT	0.0000%	4h	65.490	−0.019%	$137.0M	$192.0M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	65.530	+0.042%	$2K	$2.4M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	65.580	+0.119%	$1.1M	$1.3M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	65.540	+0.058%	$1.5M	$253K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.591	+0.136%	$119K	—	250x	as long as short
Lighter RH XAG	+0.0032%	1h	65.493	−0.015%	$4.5M	$9.3M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	65.445	−0.088%	$5.0M	$12.0M	10x	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	65.560	+0.088%	$789K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	65.933	+0.658%	—	—	25x	as long as short
Hotstuff SILVER-PERP	+0.0048%	1h	65.511	+0.013%	$36K	$22K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	65.453	−0.075%	$174.0M	$92.5M	25x	as long as short
Polymarket Perps SILVER-USDshort	+0.0050%	1h	65.458	−0.068%	$3.8M	$890K	20x
SoDEX SILVER-USD	+0.0050%	1h	65.483	−0.029%	$3K	$6K	20x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0055%	1h	65.510	+0.012%	$77K	$436K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	65.490	−0.019%	$435K	$1.5M	20x	as long as short
Variational Omni XAG	+0.0076%	4h	65.573	+0.108%	$5.4M	$9.1M	—	as long as short
Paradex XAG-USD-PERP	+0.0076%	8h	65.477	−0.039%	$29K	$166	5x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0088%	1h	65.570	+0.103%	$1.6M	$1.6M	20x	as long as short
Kalshi KXSILVERPERP	+0.0090%	24h	65.562	+0.091%	$659K	$36.2M	8.1x	as long as short
Nado XAG-PERP	+0.0095%	1h	65.462	−0.061%	$1.2M	$4.1M	10x	as long as short
Pacifica XAG	+0.0100%	1h	65.444	−0.089%	$466K	$588K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	65.460	−0.065%	$25.3M	$4.6M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	65.570	+0.103%	$112K	$19K	50x	as long as short
Phoenix SILVER	+0.0111%	1h	65.549	+0.071%	$56K	$12K	25x	as long as short
MEXC SILVER_USDT	+0.0118%	4h	65.480	−0.034%	$117.1M	$160.1M	1000x	as long as short
Binance XAGUSDT	+0.0118%	4h	65.489	−0.021%	$193.3M	$825.7M	100x	as long as short
Aevo XAG-PERP	+0.0120%	1h	65.533	+0.047%	$47K	—	10x	as long as short
edgeX XAGUSDC	+0.0127%	4h	65.630	+0.196%	$669K	$313K	30x	as long as short
Aster XAGUSDT	+0.0132%	4h	65.500	−0.004%	$2.7M	$1.1M	100x	as long as short
Bullet SILVER-USD	+0.0167%	1h	65.492	−0.015%	$45K	$75K	10x	as long as short
Lighter XAGlong	+0.0176%	1h	65.502	long leg	$5.1M	$11.3M	25x
Aftermath Perps XAGUSD	+0.0199%	1h	65.506	+0.005%	$79K	$37K	10x	as long as short
RISEx XAG/USDC	+0.0206%	1h	65.511	+0.014%	$1.2M	$4.9M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0209%	8h	65.480	−0.034%	$28.2M	$81.2M	50x	as long as short
Bitget XAGUSDT	+0.0228%	4h	65.490	−0.019%	$23.0M	$49.5M	100x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0238% / S −0.0196%	1h	65.495	−0.011%	$93K	—	111x	as long as short
Bybit XAGUSDT	+0.0242%	4h	65.490	−0.019%	$30.7M	$45.2M	150x	as long as short
GRVT XAG_USDT_Perp	+0.0302%	4h	65.567	+0.098%	$384K	$1.6M	25x	as long as short
Hibachi XAG/USDT-P	+0.0352%	1h	65.503	0.000%	$21K	$12K	10x	as long as short
BloFin XAG-USDT	+0.0359%	4h	65.560	+0.088%	$2.7M	$710K	100x	as long as short
Kraken Futures PF_XAGUSD	+0.0773%	1h	65.509	+0.011%	$1.0M	$893K	25x	as long as short