Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0172%/8h= −18.8% APRpaid last 24h −0.031%

Price spread now: Lighter against KuCoin−0.028%7-day average −0.117% · you buy dearer than you sell

Net, funding: paid 7d − costs+$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$200.199% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.020%+$102 on $10k

Price spread, last 7 days−0.029%−$3 · spread now −0.028%, 7d avg −0.117%

Together, before fees+0.991%+ Points / potential airdropLighter: Season 3 · farm board+$99 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.089% dearer against KuCoin than usual: you sell high and buy low (spread −0.028% now, against its 7-day average of −0.117%): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 42 hours. Mind the row above: over the last 7 days funding on this pair paid +1.020%, 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	KuCoin CLUSDTM	92.212	0.0100	pay 0.0050% / 4h	17m 55s	$7.1M	$2.1M	50x
Short	Lighter WTI	92.186	−0.0072	pay 0.0009% / 1h	17m 55s	$11.2M	$10.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$36.12
Price spread: −0.028% → −0.117%: $8.93
Slippage, 4 orders: −$7.87
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$47.06
Costs to cover: 0.199%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 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 KuCoin live order book, 5 min ago	1.46 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 6 min ago	0.05 bp	0.1 bp $0	0.4 bp −$4	6.7 bp −$671	28.0 bp −$14.0K

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	92.245	+0.036%	$274K	$1.2M	25x	as long as short
GRVT CL_USDT_Perp	−0.0316%	4h	92.191	−0.023%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0267%	4h	92.221	+0.009%	$24.0M	$77.6M	20x	as long as short
Binance CLUSDT	−0.0186%	4h	92.202	−0.011%	$244.5M	$1.09B	100x	as long as short
Variational Omni CL	−0.0168%	4h	92.173	−0.043%	$13.3M	$12.7M	—	as long as short
Nado WTI-PERP	−0.0135%	1h	92.253	+0.045%	$925K	$737K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0075%	1h	92.210	−0.002%	$96K	$189K	15x	as long as short
Lighter WTIshort	−0.0072%	1h	92.186	−0.028%	$11.2M	$10.9M	20x
Paradex CL-USD-PERP	−0.0057%	8h	92.183	−0.031%	$15K	$367	5x	as long as short
QFEX CL-USD	−0.0054%	1h	92.210	−0.002%	$2.4M	$2.3M	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0049%	1h	92.207	−0.005%	$186.4M	$275.1M	20x	as long as short
Ondo Perps WTI-USD.P	−0.0041%	1h	92.160	−0.056%	$3.5M	$6.3M	20x	as long as short
Gate CL_USDT	−0.0032%	8h	92.130	−0.089%	$21.3M	$58.0M	100x	as long as short
Pacifica CL	−0.0020%	1h	92.208	−0.004%	$333K	$576K	10x	as long as short
dYdX WTI-USD	0.0000%	1h	92.274	+0.067%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.212	0.000%	$25.9M	$94.3M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.180	−0.035%	$42.9M	$112.8M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.331	+0.129%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.187	−0.027%	$42.0M	$51.6M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.230	+0.020%	$37K	$101K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.205	−0.008%	$19K	$241K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	−0.197%	$399K	$963K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.757	−0.493%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.235	+0.025%	$2.0M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.200	−0.013%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.240	+0.030%	—	$308K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.208	−0.004%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.198	−0.015%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0062%	4h	92.213	+0.001%	$530K	$325K	30x	as long as short
KuCoin CLUSDTMlong	+0.0100%	4h	92.212	long leg	$7.1M	$2.1M	50x
ApeX Omni CLUSDT	+0.0100%	1h	92.190	−0.024%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.189	−0.025%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0130%	1h	92.205	−0.008%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.18	+9.726%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.220	+0.009%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0332%	1h	92.201	−0.012%	$2K	$29K	5x	as long as short