Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0263%/8h= −28.8% APRpaid last 24h −0.039%

Price spread now: Aster against Lighter+0.026%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$126as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$110.107% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−1.148%−$115 on $10k

Price spread, last 7 days+0.027%+$3 · spread now +0.026%, 7d avg +0.117%

Together, before fees−1.121%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$112 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aster is 0.091% cheaper against Lighter than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of +0.117%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	93.219	−0.0024	get 0.0003% / 1h	41m 56s	$11.2M	$9.1M	20x
Short	Aster CLUSD1	93.243	−0.0287	pay 0.0144% / 4h	41m 56s	$24.7M	$64.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$55.29
Price spread: +0.026% → +0.117%: −$9.15
Slippage, 4 orders: −$2.73
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$75.17
Costs to cover: 0.107%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Aster: live order book, 2 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 Lighter live order book, 7 min ago	0.59 bp	0.8 bp −$1	2.4 bp −$24	10.5 bp −$1,054	38.1 bp −$19.1K
Sell Aster live order book, 2 min ago	0.54 bp	4.5 bp −$5	4.5 bp −$45	doesn't fit	doesn't fit

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	−0.0500%	1h	93.210	−0.010%	$195K	$392K	15x	as long as short
Aster CLUSD1short	−0.0287%	4h	93.243	+0.026%	$24.7M	$64.2M	20x
GRVT CL_USDT_Perp	−0.0280%	4h	93.371	+0.163%	$75K	$636K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0209%	1h	93.248	+0.032%	$275K	$939K	25x	as long as short
Binance CLUSDT	−0.0163%	4h	93.220	+0.001%	$247.6M	$917.8M	100x	as long as short
Variational Omni CL	−0.0154%	4h	93.227	+0.008%	$13.4M	$10.6M	—	as long as short
Gate CL_USDT	−0.0130%	8h	93.170	−0.053%	$22.9M	$48.9M	100x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.210	−0.010%	$42.2M	$41.5M	100x	as long as short
Aftermath Perps WTIUSD	−0.0115%	1h	93.346	+0.136%	$2K	$26K	5x	as long as short
Nado WTI-PERP	−0.0086%	1h	93.333	+0.122%	$958K	$624K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0078%	4h	93.257	+0.041%	$524K	$306K	30x	as long as short
OKX CL-USDT-SWAP	−0.0063%	4h	93.210	−0.010%	$42.7M	$102.7M	50x	as long as short
QFEX CL-USD	−0.0038%	1h	93.260	+0.044%	$2.3M	$2.4M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0034%	1h	93.260	+0.044%	$3.6M	$5.3M	20x	as long as short
Lighter WTIlong	−0.0024%	1h	93.219	long leg	$11.2M	$9.1M	20x
tradeXYZ xyz:CL	−0.0019%	1h	93.216	−0.003%	$184.2M	$202.4M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0016%	1h	93.540	+0.344%	$405K	$810K	15x	as long as short
Paradex CL-USD-PERP	−0.0001%	8h	93.280	+0.065%	$16K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	93.378	+0.170%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.227	+0.009%	$26.8M	$79.0M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.280	+0.065%	$3.0M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.330	+0.119%	$37K	$40K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.263	+0.048%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.785	−0.466%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0024%	1h	93.260	+0.044%	$1.6M	$15.1M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.430	+0.226%	$740K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.280	+0.065%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.254	+0.038%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.239	+0.021%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.307	+0.095%	$348K	$593K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.239	+0.021%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.350	+0.141%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.219	−0.001%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0175%	4h	93.340	+0.130%	$4.0M	$983K	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.83	+10.312%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0253% / S −0.0189%	1h	93.235	+0.017%	$84K	—	111x	as long as short