Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0233%/8h= +25.5% APRpaid last 24h +0.011%

Price spread now: Lighter against Aster−0.016%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs+$104as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$100.101% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.143%+$114 on $10k

Price spread, last 7 days+0.009%+$1 · spread now −0.016%, 7d avg −0.117%

Together, before fees+1.151%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$115 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Lighter is 0.101% dearer against Aster than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.117%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster CLUSD1	92.229	−0.0297	get 0.0148% / 4h	0m 35s	$23.9M	$77.4M	20x
Short	Lighter WTI	92.214	−0.0064	pay 0.0008% / 1h	0m 35s	$11.2M	$10.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.016%Rate

Funding earned: $48.84
Price spread: −0.016% → −0.117%: $10.12
Slippage, 4 orders: −$2.09
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: $48.88
Costs to cover: 0.101%
Break-even: from the start

Slippage from Aster: live order book, 4 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 Aster live order book, 4 min ago	0.54 bp	4.8 bp −$5	6.0 bp −$60	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.27 bp	0.3 bp $0	1.0 bp −$10	8.1 bp −$809	24.7 bp −$12.3K

CL on 36 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
Kraken Futures PF_WTIOILUSD	−0.0449%	1h	92.231	+0.003%	$273K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0322%	4h	92.225	−0.004%	$58K	$702K	25x	as long as short
Aster CLUSD1long	−0.0297%	4h	92.229	long leg	$23.9M	$77.4M	20x
Binance CLUSDT	−0.0222%	4h	92.219	−0.010%	$244.4M	$1.08B	100x	as long as short
Variational Omni CL	−0.0206%	4h	92.193	−0.039%	$13.2M	$12.7M	—	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0184%	1h	92.230	+0.002%	$96K	$189K	15x	as long as short
Nado WTI-PERP	−0.0130%	1h	92.273	+0.048%	$925K	$734K	10x	as long as short
Lighter WTIshort	−0.0064%	1h	92.214	−0.016%	$11.2M	$10.9M	20x
QFEX CL-USD	−0.0054%	1h	92.210	−0.020%	$2.4M	$2.3M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0051%	1h	92.180	−0.053%	$3.5M	$6.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0034%	8h	92.150	−0.085%	$21.3M	$58.1M	100x	as long as short
Paradex CL-USD-PERP	−0.0031%	8h	92.202	−0.028%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.245	+0.018%	$186.1M	$267.3M	20x	as long as short
Pacifica CL	−0.0020%	1h	92.220	−0.009%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.269	+0.044%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.210	−0.020%	$26.0M	$94.2M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.210	−0.020%	$42.9M	$111.5M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.340	+0.121%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.202	−0.029%	$42.0M	$51.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.300	+0.077%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.212	−0.018%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.215%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.778	−0.489%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.270	+0.045%	$2.0M	$26.8M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.230	+0.002%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.260	+0.034%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.219	−0.010%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.208	−0.022%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0085%	4h	92.266	+0.041%	$531K	$326K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.234	+0.006%	$7.3M	$2.2M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.250	+0.023%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.186	−0.046%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.215	−0.015%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.34	+9.875%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.240	+0.012%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0493%	1h	92.256	+0.029%	$2K	$29K	5x	as long as short