Funding arb · Price arb /

XAG

RWAall XAG markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.018%

Price spread now: Lighter RH against Variational Omni+0.014%7-day average −0.048% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter RH

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.001%$0 on $10k

Price spread, last 7 days−0.024%−$2 · spread now +0.014%, 7d avg −0.048%

Together, before fees−0.025%+ Points / potential airdropVariational Omni: Active · Lighter RH: Points live · farm board−$3 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter RH is 0.062% dearer against Variational Omni than usual: you sell high and buy low (spread +0.014% now, against its 7-day average of −0.048%): +$6 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 3.5 days. At the pace of the last 3 days (−0.001% in total) that is about 8 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni XAG	66.775	0.0091	pay 0.0045% / 4h	3h 48m	$5.7M	$9.9M	—
Short	Lighter RH XAG	66.784	0.0032	get 0.0004% / 1h	48m 07s	$4.8M	$9.5M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter RH 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 Lighter RHbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$12.39
Price spread: +0.014% → −0.048%: $6.17
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter RH: 0 bp × 2 orders: $0
Net: −$6.22
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 1 min ago; Lighter RH: 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, 1 min ago	2.56 bp	doesn't fit	2.8 bp −$28	doesn't fit	doesn't fit
Sell Lighter RH live order book, 6 min ago	0.39 bp	0.7 bp −$1	1.6 bp −$16	20.7 bp −$2,075	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	66.797	+0.034%	$15K	—	5x	as long as short
Bybit XAGUSDT	0.0000%	4h	66.810	+0.053%	$26.1M	$35.3M	150x	as long as short
Gate XAG_USDT	0.0000%	4h	66.800	+0.038%	$155.6M	$165.9M	100x	as long as short
SunX XAG-USDT	0.0000%	4h	66.820	+0.068%	$2K	$3.0M	20x	as long as short
HTX XAG-USDT	0.0000%	4h	66.820	+0.068%	$1.1M	$1.1M	75x	as long as short
Phemex XAGUSDT	0.0000%	4h	66.800	+0.038%	$1.5M	$252K	100x	as long as short
gTrade (Gains Network) XAG/USD	L +0.0004% / S −0.0006%	1h	66.746	−0.042%	$121K	—	250x	as long as short
Hotstuff SILVER-PERP	+0.0016%	1h	66.793	+0.027%	$36K	$21K	20x	as long as short
Lighter RH XAGshort	+0.0032%	1h	66.784	+0.014%	$4.8M	$9.5M	25x
Extended XAG-USD	+0.0032%	1h	66.751	−0.035%	$5.4M	$13.2M	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	−0.561%	$11K	$94K	52x	as long as short
StandX XAG-USD	+0.0040%	1h	66.760	−0.022%	$803K	$2.7M	40x	as long as short
Vest SI-PERP	+0.0046%	1h	67.263	+0.731%	—	—	25x	as long as short
Phoenix SILVER	+0.0048%	1h	66.759	−0.023%	$57K	$26K	25x	as long as short
tradeXYZ xyz:SILVER	+0.0050%	1h	66.758	−0.025%	$166.2M	$86.1M	25x	as long as short
Polymarket Perps SILVER-USD	+0.0050%	1h	66.778	+0.005%	$3.9M	$700K	20x	as long as short
SoDEX SILVER-USD	+0.0050%	1h	66.742	−0.049%	$4K	$5K	20x	as long as short
Ondo Perps XAG-USD.P	+0.0050%	1h	66.730	−0.067%	$5.7M	$9.8M	25x	as long as short
QFEX SILVER-USD	+0.0051%	1h	66.810	+0.053%	$115K	$2.8M	20x	as long as short
Kalshi KXSILVERPERP	+0.0060%	24h	66.769	−0.008%	$570K	$21.9M	8.1x	as long as short
Lighter XAG	+0.0072%	1h	66.786	+0.017%	$5.4M	$10.4M	25x	as long as short
Paradex XAG-USD-PERP	+0.0089%	8h	66.822	+0.072%	$30K	$1K	5x	as long as short
Variational Omni XAGlong	+0.0091%	4h	66.775	long leg	$5.7M	$9.9M	—
Pacifica XAG	+0.0100%	1h	66.771	−0.005%	$476K	$629K	10x	as long as short
KuCoin XAGUSDTM	+0.0100%	4h	66.780	+0.008%	$24.7M	$4.5M	75x	as long as short
ApeX Omni XAGUSDT	+0.0100%	1h	66.750	−0.037%	$127K	$26K	50x	as long as short
Aster XAGUSDT	+0.0103%	4h	66.811	+0.054%	$2.8M	$1.1M	100x	as long as short
Aevo XAG-PERP	+0.0104%	1h	66.785	+0.016%	$48K	—	10x	as long as short
MEXC SILVER_USDT	+0.0106%	4h	66.790	+0.023%	$117.1M	$155.7M	1000x	as long as short
Binance XAGUSDT	+0.0107%	4h	66.800	+0.038%	$192.3M	$725.9M	100x	as long as short
edgeX XAGUSDC	+0.0115%	4h	66.802	+0.041%	$678K	$314K	30x	as long as short
Nado XAG-PERP	+0.0130%	1h	66.786	+0.017%	$1.3M	$6.5M	10x	as long as short
RISEx XAG/USDC	+0.0148%	1h	66.830	+0.083%	$1.3M	$4.2M	20x	as long as short
Bitget XAGUSDT	+0.0164%	4h	66.800	+0.038%	$24.8M	$48.7M	100x	as long as short
BloFin XAG-USDT	+0.0164%	4h	66.830	+0.083%	$2.6M	$692K	100x	as long as short
Aftermath Perps XAGUSD	+0.0174%	1h	66.769	−0.008%	$80K	$40K	10x	as long as short
Bullet SILVER-USD	+0.0183%	1h	66.815	+0.060%	$45K	$75K	10x	as long as short
Coinbase International SILVER-PERP-INTX	+0.0184%	1h	66.780	+0.008%	$1.9M	$967K	20x	as long as short
OKX XAG-USDT-SWAP	+0.0189%	8h	66.810	+0.053%	$28.2M	$67.5M	50x	as long as short
Deribit SILVER_USDC-PERPETUAL	+0.0199%	1h	66.780	+0.008%	$51K	$344K	20x	as long as short
Hibachi XAG/USDT-P	+0.0224%	1h	66.775	+0.001%	$20K	$22K	10x	as long as short
GRVT XAG_USDT_Perp	+0.0274%	4h	66.790	+0.023%	$397K	$1.5M	25x	as long as short
GMX SILVER/USD [ETH-USDC]	L +0.0291% / S −0.0281%	1h	66.795	+0.030%	$104K	—	111x	as long as short
Kraken Futures PF_XAGUSD	+0.0487%	1h	66.769	−0.008%	$767K	$589K	25x	as long as short