Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0026%/8h= −2.9% APRpaid last 24h −0.007%

Price spread now: Lighter against edgeX+0.005%7-day average −0.147% · you sell dearer than you buy

Net, funding: paid 7d − costs+$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$300.303% of the position

Long on edgeX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.290%+$129 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now +0.005%, 7d avg −0.147%

Together, before fees+1.296%+ Points / potential airdropedgeX: Active · Lighter: Season 3 · farm board+$130 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.152% dearer against edgeX than usual: you sell high and buy low (spread +0.005% now, against its 7-day average of −0.147%): +$15 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 19 days. Mind the row above: over the last 7 days funding on this pair paid +1.290%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX CLUSDC	92.744	0.0058	pay 0.0029% / 4h	2h 20m	$533K	$297K	30x
Short	Lighter WTI	92.748	0.0032	get 0.0004% / 1h	20m 49s	$11.2M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against edgeX. 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 edgeXbpFee LighterbpOrdersPrice spread, now +0.005%Rate

Funding earned: −$5.49
Price spread: +0.005% → −0.147%: $15.19
Slippage, 4 orders: −$21.31
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.62
Costs to cover: 0.303%
Break-even: never at this rate

Slippage from edgeX: live order book, 48 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 edgeX live order book, 48 min ago	10.10 bp	14.6 bp −$15	14.8 bp −$148	21.2 bp −$2,119	doesn't fit
Sell Lighter live order book, 8 min ago	0.43 bp	0.5 bp −$1	2.3 bp −$23	7.6 bp −$762	36.0 bp −$18.0K

CL on 35 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	−0.0612%	1h	92.710	−0.036%	$198K	$365K	15x	as long as short
Aster CLUSD1	−0.0303%	4h	92.771	+0.030%	$23.9M	$72.9M	20x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.727	−0.017%	$53K	$631K	25x	as long as short
Binance CLUSDT	−0.0256%	4h	92.744	+0.001%	$244.2M	$978.3M	100x	as long as short
Variational Omni CL	−0.0250%	4h	92.718	−0.028%	$13.3M	$11.0M	—	as long as short
Gate CL_USDT	−0.0124%	8h	92.700	−0.047%	$20.8M	$53.7M	100x	as long as short
Nado WTI-PERP	−0.0060%	1h	92.777	+0.036%	$965K	$676K	10x	as long as short
tradeXYZ xyz:CL	−0.0053%	1h	92.751	+0.008%	$184.3M	$220.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	+0.007%	$402K	$946K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0040%	1h	92.690	−0.058%	$3.5M	$5.7M	20x	as long as short

Show all 35 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.775	+0.034%	$268K	$879K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.730	−0.015%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0020%	4h	92.740	−0.004%	$42.8M	$105.0M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.757	+0.015%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.765	+0.023%	$26.8M	$82.5M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.734	−0.010%	$41.9M	$44.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.050%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.737	−0.007%	$18K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.303	−0.475%	$5K	—	150x	as long as short
Aftermath Perps WTIUSD	+0.0027%	1h	92.781	+0.040%	$2K	$28K	5x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	92.730	−0.015%	$16K	$367	5x	as long as short
Lighter WTIshort	+0.0032%	1h	92.748	+0.005%	$11.2M	$10.3M	20x
Extended WTI-USD	+0.0032%	1h	92.790	+0.050%	$2.1M	$24.5M	10x	as long as short
RISEx CL/USDC	+0.0037%	1h	92.862	+0.128%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.350	−0.424%	$726K	$3.0M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.760	+0.018%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.742	−0.002%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.738	−0.006%	$2.1M	$61K	20x	as long as short
edgeX CLUSDClong	+0.0058%	4h	92.744	long leg	$533K	$297K	30x
KuCoin CLUSDTM	+0.0074%	4h	92.759	+0.017%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.729	−0.016%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.820	+0.082%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.705	−0.042%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.735	−0.009%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.83	+9.801%	$19K	$11K	30x	as long as short