Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.010%

Price spread now: Lighter against Variational Omni−0.019%7-day average −0.031% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.030%+$3 on $10k

Price spread, last 7 days+0.014%+$1 · spread now −0.019%, 7d avg −0.031%

Together, before fees+0.044%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$4 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.031%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.073	0.0171	pay 0.0086% / 4h	3h 16m	$5.7M	$9.5M	—
Short	Lighter XAG	66.061	0.0104	get 0.0013% / 1h	16m 57s	$5.2M	$10.8M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.019%Rate

Funding earned: −$14.08
Price spread: −0.019% → −0.031%: $1.15
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.93
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 2 min ago; Lighter: live order book, 6 min ago. Net counts fees only.

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 Variational Omni RFQ quote, 2 min ago	2.57 bp	doesn't fit	2.6 bp −$26	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.35 bp	0.5 bp −$1	0.6 bp −$6	8.2 bp −$823	19.4 bp −$9,686

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	−0.0062%	1h	65.950	−0.187%	$5.7M	$9.3M	25x	as long as short
dYdX XAG-USD	0.0000%	1h	65.989	−0.128%	$14K	$66	5x	as long as short
Hotstuff SILVER-PERP	0.0000%	1h	66.029	−0.067%	$35K	$21K	20x	as long as short
SunX XAG-USDT	0.0000%	4h	66.090	+0.025%	$2K	$2.6M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.080	+0.010%	$1.0M	$949K	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.070	−0.005%	$1.5M	$320K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	65.998	−0.114%	$120K	—	250x	as long as short
Gate XAG_USDT	+0.0016%	4h	66.080	+0.010%	$149.9M	$164.0M	100x	as long as short
Lighter RH XAG	+0.0032%	1h	66.058	−0.024%	$4.8M	$9.5M	25x	as long as short
Extended XAG-USD	+0.0032%	1h	66.007	−0.101%	$5.2M	$11.5M	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	+0.494%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.060	−0.020%	$795K	$3.0M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	66.482	+0.618%	—	—	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.025	−0.073%	$3.9M	$672K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.001	−0.110%	$3K	$6K	20x	as long as short
tradeXYZ xyz:SILVER	+0.0051%	1h	66.034	−0.060%	$166.3M	$74.0M	25x	as long as short
Paradex XAG-USD-PERP	+0.0056%	8h	66.045	−0.044%	$30K	$1K	5x	as long as short
QFEX SILVER-USD	+0.0060%	1h	66.050	−0.035%	$114K	$2.7M	20x	as long as short
Phoenix SILVER	+0.0073%	1h	65.995	−0.119%	$56K	$26K	25x	as long as short
Kalshi KXSILVERPERP	+0.0073%	24h	66.018	−0.084%	$557K	$26.4M	8.1x	as long as short
RISEx XAG/USDC	+0.0080%	1h	66.072	−0.003%	$1.3M	$4.9M	20x	as long as short
Pacifica XAG	+0.0100%	1h	66.007	−0.101%	$470K	$605K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.030	−0.066%	$24.4M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.060	−0.020%	$113K	$30K	50x	as long as short
Lighter XAGshort	+0.0104%	1h	66.061	−0.019%	$5.2M	$10.8M	25x
Bybit XAGUSDT	+0.0123%	4h	66.080	+0.010%	$27.8M	$36.5M	150x	as long as short
Aster XAGUSDT	+0.0136%	4h	66.071	−0.004%	$2.7M	$866K	100x	as long as short
Aevo XAG-PERP	+0.0168%	1h	66.053	−0.031%	$47K	—	10x	as long as short
Variational Omni XAGlong	+0.0171%	4h	66.073	long leg	$5.7M	$9.5M	—
Nado XAG-PERP	+0.0172%	1h	66.019	−0.082%	$1.4M	$5.8M	10x	as long as short
Binance XAGUSDT	+0.0178%	4h	66.070	−0.005%	$190.9M	$702.8M	100x	as long as short
MEXC SILVER_USDT	+0.0178%	4h	66.060	−0.020%	$115.0M	$152.7M	1000x	as long as short
GRVT XAG_USDT_Perp	+0.0178%	4h	66.085	+0.017%	$395K	$1.5M	25x	as long as short
edgeX XAGUSDC	+0.0187%	4h	66.071	−0.004%	$670K	$311K	30x	as long as short
Aftermath Perps XAGUSD	+0.0188%	1h	66.046	−0.041%	$79K	$36K	10x	as long as short
BloFin XAG-USDT	+0.0207%	4h	66.080	+0.010%	$2.6M	$563K	100x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0208%	1h	66.030	−0.066%	$1.8M	$1.0M	20x	as long as short
OKX XAG-USDT-SWAP	+0.0224%	8h	66.080	+0.010%	$27.7M	$64.5M	50x	as long as short
Bitget XAGUSDT	+0.0226%	4h	66.070	−0.005%	$23.9M	$45.2M	100x	as long as short
Bullet SILVER-USD	+0.0227%	1h	66.067	−0.010%	$45K	$75K	10x	as long as short
Hibachi XAG/USDT-P	+0.0296%	1h	66.008	−0.099%	$20K	$19K	10x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0356%	1h	66.060	−0.020%	$75K	$363K	20x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0387% / S −0.0440%	1h	66.065	−0.013%	$105K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0624%	1h	66.032	−0.062%	$911K	$683K	25x	as long as short