Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.002%

Price spread now: Lighter against Bitget−0.032%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs+$107as in the Funding arb table

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

costs, in and out, $10k−$140.145% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.213%+$121 on $10k

Price spread, last 7 days+0.005%$0 · spread now −0.032%, 7d avg −0.105%

Together, before fees+1.217%+ Points / potential airdropLighter: Season 3 · farm board+$122 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.073% dearer against Bitget than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.105%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget CLUSDT	92.927	0	get 0.0000% / 4h	1h 13m	$42.1M	$43.5M	100x
Short	Lighter WTI	92.897	0	get 0.0000% / 1h	13m 55s	$11.2M	$10.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → −0.105%: $7.25
Slippage, 4 orders: −$2.46
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.21
Costs to cover: 0.145%
Break-even: never at this rate

Slippage from Bitget: live order book, 5 min ago; Lighter: live order book, 5 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 Bitget live order book, 5 min ago	0.11 bp	7.5 bp −$7	9.6 bp −$96	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.38 bp	0.4 bp $0	0.6 bp −$6	8.4 bp −$837	33.2 bp −$16.6K

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
Deribit WTIOIL_USDC-PERPETUAL	−0.0611%	1h	92.850	−0.083%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0255%	4h	92.922	−0.006%	$24.0M	$67.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.910	−0.019%	$53K	$635K	25x	as long as short
Binance CLUSDT	−0.0204%	4h	92.920	−0.008%	$244.7M	$952.4M	100x	as long as short
Variational Omni CL	−0.0195%	4h	92.857	−0.075%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0162%	1h	92.810	−0.126%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0155%	1h	92.943	+0.018%	$961K	$659K	10x	as long as short
OKX CL-USDT-SWAP	−0.0072%	4h	92.890	−0.040%	$42.8M	$102.0M	50x	as long as short
tradeXYZ xyz:CL	−0.0070%	1h	92.921	−0.006%	$184.5M	$217.5M	20x	as long as short
Gate CL_USDT	−0.0069%	8h	92.880	−0.051%	$20.9M	$53.0M	100x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended WTI-USD	−0.0064%	1h	92.960	+0.036%	$2.1M	$22.3M	10x	as long as short
Aftermath Perps WTIUSD	−0.0060%	1h	92.900	−0.029%	$2K	$27K	5x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.190%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.840	−0.094%	$2.5M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0015%	4h	92.902	−0.027%	$529K	$303K	30x	as long as short
Lighter WTIshort	0.0000%	1h	92.897	−0.032%	$11.2M	$10.5M	20x
dYdX WTI-USD	0.0000%	1h	92.937	+0.010%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.920	−0.008%	$26.5M	$81.0M	150x	as long as short
Bitget CLUSDTlong	0.0000%	4h	92.927	long leg	$42.1M	$43.5M	100x
Phoenix WTIOIL	0.0000%	1h	92.950	+0.025%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.875	−0.056%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.458	−0.505%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	92.869	−0.062%	$16K	$367	5x	as long as short
KuCoin CLUSDTM	+0.0014%	4h	92.917	−0.011%	$7.3M	$2.3M	50x	as long as short
StandX CL-USD	+0.0040%	1h	92.900	−0.029%	$733K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	−0.029%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.885	−0.045%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.874	−0.057%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.963	+0.039%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.874	−0.057%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.970	+0.046%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.838	−0.095%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.897	−0.032%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0172%	4h	92.860	−0.072%	$4.1M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.875	−0.056%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.869%	$19K	$11K	30x	as long as short