Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0154%/8h= +16.9% APRpaid last 24h 0.000%

Price spread now: Lighter against GRVT+0.016%7-day average −0.208% · you sell dearer than you buy

Net, funding: paid 7d − costs+$110as in the Funding arb table

Net, price: spread back to 7d avg − costs+$6as in the Price arb table

costs, in and out, $10k−$170.168% of the position

Long on GRVT Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.265%+$126 on $10k

Price spread, last 3 days (all we have)−0.006%−$1 · spread now +0.016%, 7d avg −0.208%

Together, before fees+1.258%+ Points / potential airdropGRVT: Active · Lighter: Season 3 · farm board+$126 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Lighter is 0.224% dearer against GRVT than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of −0.208%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT CL_USDT_Perp	91.994	−0.0290	get 0.0145% / 4h	46m 56s	$58K	$702K	25x
Short	Lighter WTI	92.008	−0.0136	pay 0.0017% / 1h	46m 56s	$11.1M	$10.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GRVT. 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 GRVTbpFee LighterbpOrdersPrice spread, now +0.016%Rate

Funding earned: $32.34
Price spread: +0.016% → −0.208%: $22.39
Slippage, 4 orders: −$7.84
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: $37.89
Costs to cover: 0.168%
Break-even: from the start

Slippage from GRVT: live order book, 31 min ago; Lighter: live order book, 7 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 GRVT live order book, 31 min ago	0.54 bp	8.2 bp −$8	11.9 bp −$119	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.05 bp	0.1 bp $0	0.6 bp −$6	6.6 bp −$656	31.6 bp −$15.8K

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	−0.0450%	1h	92.042	+0.053%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0293%	1h	92.030	+0.039%	$96K	$189K	15x	as long as short
GRVT CL_USDT_Perplong	−0.0290%	4h	91.994	long leg	$58K	$702K	25x
Aster CLUSD1	−0.0218%	4h	92.020	+0.029%	$23.9M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0174%	1h	92.089	+0.103%	$923K	$744K	10x	as long as short
Lighter WTIshort	−0.0136%	1h	92.008	+0.016%	$11.1M	$10.9M	20x
Ondo Perps WTI-USD.P	−0.0135%	1h	92.000	+0.007%	$3.5M	$6.4M	20x	as long as short
Binance CLUSDT	−0.0135%	4h	92.010	+0.018%	$245.2M	$1.10B	100x	as long as short
tradeXYZ xyz:CL	−0.0111%	1h	92.027	+0.036%	$185.7M	$275.7M	20x	as long as short
Paradex CL-USD-PERP	−0.0106%	8h	91.995	+0.001%	$15K	$367	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni CL	−0.0096%	4h	91.994	0.000%	$13.4M	$13.0M	—	as long as short
Bullet WTIOIL-USD	−0.0079%	1h	92.016	+0.024%	$19K	$241K	10x	as long as short
QFEX CL-USD	−0.0054%	1h	92.000	+0.007%	$2.4M	$2.6M	10x	as long as short
Gate CL_USDT	−0.0021%	8h	91.960	−0.037%	$21.3M	$57.5M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.022	+0.031%	$332K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.124%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.040	+0.050%	$25.6M	$94.9M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.020	+0.029%	$43.1M	$113.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.128	+0.146%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.003	+0.010%	$41.9M	$51.8M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.080	+0.094%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	+0.039%	$399K	$984K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.606	−0.421%	$4K	—	150x	as long as short
Polymarket Perps WTIOIL-USD	+0.0022%	1h	92.008	+0.016%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.075	+0.088%	$2.0M	$27.5M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.000	+0.007%	$723K	$3.1M	40x	as long as short
Aftermath Perps WTIUSD	+0.0044%	1h	92.027	+0.036%	$2K	$29K	5x	as long as short
Vest CL-PERP	+0.0046%	1h	92.080	+0.094%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.015	+0.023%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0068%	4h	92.022	+0.031%	$529K	$335K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.015	+0.023%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.050	+0.061%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.982	−0.013%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.005	+0.012%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.089%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.000	+0.007%	$4.0M	$1.4M	50x	as long as short