Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0307%/8h= +33.7% APRpaid last 24h +0.016%

Price spread now: Lighter against Binance−0.050%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs+$103as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$130.128% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.162%+$116 on $10k

Price spread, last 2 days (all we have)+0.044%+$4 · spread now −0.050%, 7d avg −0.005%

Together, before fees+1.206%+ Points / potential airdropLighter: Season 3 · farm board+$121 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.045% cheaper against Binance than usual: you would sell low and buy high (spread −0.050% now, against its 7-day average of −0.005%). If the spread goes back, that is −$4 on $10k: about 12 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance CLUSDT	92.682	−0.0283	get 0.0142% / 4h	3h 06m	$244.6M	$1.03B	100x
Short	Lighter WTI	92.636	0.0024	get 0.0003% / 1h	6m 58s	$11.2M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.050%Rate

Funding earned: $64.57
Price spread: −0.050% → −0.005%: −$4.49
Slippage, 4 orders: −$2.81
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: $47.27
Costs to cover: 0.128%
Break-even: 1.9 days

Slippage from Binance: live order book, 7 min ago; Lighter: live order book, 6 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 Binance live order book, 7 min ago	0.54 bp	5.5 bp −$6	5.6 bp −$56	8.5 bp −$850	20.8 bp −$10.4K
Sell Lighter live order book, 6 min ago	0.05 bp	0.4 bp $0	0.6 bp −$6	6.4 bp −$641	24.9 bp −$12.5K

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
GRVT CL_USDT_Perp	−0.0352%	4h	92.655	−0.030%	$58K	$630K	25x	as long as short
Aster CLUSD1	−0.0337%	4h	92.710	+0.030%	$24.0M	$75.1M	20x	as long as short
Binance CLUSDTlong	−0.0283%	4h	92.682	long leg	$244.6M	$1.03B	100x
Variational Omni CL	−0.0272%	4h	92.610	−0.078%	$13.3M	$11.4M	—	as long as short
Gate CL_USDT	−0.0199%	8h	92.610	−0.078%	$21.3M	$55.6M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0182%	1h	92.610	−0.078%	$123K	$275K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.643	−0.043%	$274K	$912K	25x	as long as short
Ondo Perps WTI-USD.P	−0.0053%	1h	92.590	−0.099%	$3.5M	$5.9M	20x	as long as short
Nado WTI-PERP	−0.0050%	1h	92.665	−0.019%	$934K	$707K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.704%	$399K	$956K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.600	−0.089%	$2.4M	$1.7M	10x	as long as short
tradeXYZ xyz:CL	−0.0031%	1h	92.650	−0.035%	$185.9M	$233.5M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.666	−0.018%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.690	+0.009%	$26.5M	$88.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.670	−0.013%	$43.0M	$108.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.736	+0.058%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.650	−0.035%	$42.1M	$48.1M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.650	−0.035%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.617	−0.070%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.176	−0.546%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0008%	1h	92.700	+0.019%	$2.3M	$25.7M	10x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	92.592	−0.097%	$15K	$367	5x	as long as short
Lighter WTIshort	+0.0024%	1h	92.636	−0.050%	$11.2M	$10.3M	20x
edgeX CLUSDC	+0.0030%	4h	92.671	−0.012%	$533K	$299K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.320	−0.391%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.640	−0.045%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.619	−0.068%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.630	−0.056%	$2.0M	$38K	20x	as long as short
KuCoin CLUSDTM	+0.0078%	4h	92.656	−0.028%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.613	−0.074%	$354K	$605K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	−0.013%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.582	−0.108%	$4K	—	10x	as long as short
Aftermath Perps WTIUSD	+0.0143%	1h	92.633	−0.052%	$2K	$28K	5x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.615	−0.072%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.69	+9.719%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.610	−0.078%	$4.0M	$1.2M	50x	as long as short