Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0016%/8h= −1.8% APRpaid last 24h +0.009%

Price spread now: Lighter against MEXC−0.012%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs+$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2as in the Price arb table

costs, in and out, $10k−$30.026% of the position

Long on MEXC Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 7 days+0.013%+$1 · spread now −0.012%, 7d avg −0.023%

Together, before fees+0.153%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, 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 +0.140%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC SILVER_USDT	66.270	0.0192	pay 0.0096% / 4h	1h 50m	$111.6M	$151.7M	1000x
Short	Lighter XAG	66.262	0.0176	get 0.0022% / 1h	50m 46s	$5.3M	$10.4M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against MEXC. 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 MEXCbpFee LighterbpOrdersPrice spread, now −0.012%Rate

Funding earned: −$3.36
Price spread: −0.012% → −0.023%: $1.09
Slippage, 4 orders: −$2.6
Fee MEXC: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.87
Costs to cover: 0.026%
Break-even: never at this rate

Slippage from MEXC: live order book, 3 min ago; Lighter: live order book, 8 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 MEXC live order book, 3 min ago	0.75 bp	0.8 bp −$1	0.8 bp −$8	0.8 bp −$75	3.5 bp −$1,750
Sell Lighter live order book, 8 min ago	0.39 bp	0.4 bp $0	0.8 bp −$8	6.9 bp −$686	17.5 bp −$8,746

XAG on 43 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	66.236	−0.052%	$15K	—	5x	as long as short
Gate XAG_USDT	0.0000%	4h	66.270	0.000%	$151.7M	$161.7M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.220	−0.075%	$2K	$2.8M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.280	+0.015%	$1.0M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.290	+0.030%	$1.5M	$250K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.180	−0.135%	$121K	—	250x	as long as short
Ondo Perps XAG-USD.P	+0.0022%	1h	66.160	−0.166%	$5.7M	$9.7M	25x	as long as short
Lighter RH XAG	+0.0032%	1h	66.254	−0.023%	$4.8M	$9.4M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.206	−0.097%	$5.3M	$12.1M	10x	as long as short
Injective XAG/USDC PERP	+0.0033%	1h	66.400	+0.196%	$11K	$94K	52x	as long as short

Show all 43 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff SILVER-PERP	+0.0040%	1h	66.273	+0.005%	$35K	$21K	20x	as long as short
StandX XAG-USD	+0.0040%	1h	66.390	+0.181%	$799K	$2.9M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.691	+0.635%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.196	−0.112%	$3.9M	$673K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.188	−0.124%	$3K	$6K	20x	as long as short
QFEX SILVER-USD	+0.0062%	1h	66.230	−0.060%	$115K	$2.7M	20x	as long as short
Kalshi KXSILVERPERP	+0.0063%	24h	66.249	−0.032%	$547K	$24.5M	8.1x	as long as short
Phoenix SILVER	+0.0084%	1h	66.303	+0.050%	$56K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0095%	1h	66.228	−0.063%	$165.8M	$74.7M	25x	as long as short
Pacifica XAG	+0.0100%	1h	66.219	−0.077%	$471K	$607K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.230	−0.060%	$24.5M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.330	+0.091%	$113K	$30K	50x	as long as short
Paradex XAG-USD-PERP	+0.0138%	8h	66.270	0.000%	$30K	$1K	5x	as long as short
Aster XAGUSDT	+0.0142%	4h	66.240	−0.045%	$2.7M	$917K	100x	as long as short
Bybit XAGUSDT	+0.0144%	4h	66.290	+0.030%	$26.7M	$36.2M	150x	as long as short
Aevo XAG-PERP	+0.0176%	1h	66.244	−0.039%	$48K	—	10x	as long as short
Lighter XAGshort	+0.0176%	1h	66.262	−0.012%	$5.3M	$10.4M	25x
Variational Omni XAG	+0.0176%	4h	66.242	−0.042%	$5.5M	$9.7M	—	as long as short
RISEx XAG/USDC	+0.0181%	1h	66.250	−0.030%	$1.2M	$4.4M	20x	as long as short
MEXC SILVER_USDTlong	+0.0192%	4h	66.270	long leg	$111.6M	$151.7M	1000x
Coinbase International SILVER-PERP-INTX	+0.0192%	1h	66.350	+0.121%	$1.9M	$972K	20x	as long as short
Binance XAGUSDT	+0.0192%	4h	66.270	0.000%	$191.9M	$706.0M	100x	as long as short
edgeX XAGUSDC	+0.0201%	4h	66.366	+0.145%	$673K	$314K	30x	as long as short
OKX XAG-USDT-SWAP	+0.0217%	8h	66.270	0.000%	$27.8M	$65.6M	50x	as long as short
Aftermath Perps XAGUSD	+0.0233%	1h	66.281	+0.017%	$80K	$38K	10x	as long as short
Hibachi XAG/USDT-P	+0.0240%	1h	66.320	+0.075%	$20K	$22K	10x	as long as short
Nado XAG-PERP	+0.0242%	1h	66.198	−0.108%	$1.3M	$6.6M	10x	as long as short
Bitget XAGUSDT	+0.0254%	4h	66.270	0.000%	$23.9M	$46.1M	100x	as long as short
Bullet SILVER-USD	+0.0267%	1h	66.250	−0.031%	$46K	$75K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0282%	4h	66.380	+0.166%	$393K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0330% / S −0.0341%	1h	66.255	−0.023%	$103K	—	111x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0354%	1h	66.240	−0.045%	$50K	$326K	20x	as long as short
Kraken Futures PF_XAGUSD	+0.0550%	1h	66.198	−0.109%	$763K	$475K	25x	as long as short