Funding arb · Price arb / RWA

CL

RWAAll CL markets →

LONGLighter▾Aftermath Perps −0.0532%Deribit −0.0082%edgeX −0.0048%RISEx −0.0035%QFEX −0.0001%Aster 0.0000%dYdX 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%Phoenix 0.0000%Lighter +0.0032%Extended +0.0032%Bullet +0.0033%Injective +0.0033%gTrade (Gains Network) +0.0037%StandX +0.0040%Vest Markets +0.0046%Popdex +0.0048%Nado +0.0048%tradeXYZ +0.0050%Polymarket Perps +0.0050%SoDEX +0.0050%Ondo Perps +0.0050%Paradex +0.0051%Kraken Futures +0.0054%Coinbase International +0.0080%Pacifica +0.0100%ApeX Omni +0.0100%Aevo +0.0104%BloFin +0.0240%GMX +0.0486%

⇄⇅

SHORTAvantis▾BloFin +0.0240%GMX −0.0239%Aevo +0.0104%Pacifica +0.0100%ApeX Omni +0.0100%Coinbase International +0.0080%Kraken Futures +0.0054%Paradex +0.0051%Ondo Perps +0.0050%tradeXYZ +0.0050%Polymarket Perps +0.0050%SoDEX +0.0050%Nado +0.0048%Popdex +0.0048%Vest Markets +0.0046%StandX +0.0040%Injective +0.0033%Bullet +0.0033%Extended +0.0032%Aster 0.0000%dYdX 0.0000%Binance 0.0000%Bybit 0.0000%OKX 0.0000%Gate 0.0000%KuCoin 0.0000%Bitget 0.0000%Variational Omni 0.0000%GRVT 0.0000%Phoenix 0.0000%QFEX −0.0001%RISEx −0.0035%edgeX −0.0048%Deribit −0.0082%Aftermath Perps −0.0532%Avantis +0.0913%gTrade (Gains Network) +0.3572%

Backtest 30d☆

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	LighterWTI	90.477	+0.0032	pay 0.0004% / 1h	21m 03s	$6.2M	$13.4M	20x	Long Lighter7d free
SHORT	AvantisWTI/USD	90.465	L +0.0023S +0.0913	pay 0.0114% / 1h	21m 03s	$56K	—	25x	Short Avantis

Price gap−0.013%

Funding gap−0.0945% /8h

Funding costs $28 a day on $10k at the current rate. Swap the legs.

The current funding rate is far below what this pair has been paying: over the last 7 days it paid −0.393% in total, about −0.0187%/8h on average.

Price and funding

Price spreadPricesFundingLeg ratesP&L

1m5m15m1h

1h · history

24H3D7D14D30D90D

Price spread?

Prices?

Funding?per 8h

PRICE SPREAD · 7D

Now−0.013%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D▾

share of time at each level

Funding on every exchange

/8h

24H3D7D14D30D90D

LighterAvantis

CL on 38 exchanges

lowest funding first

Before you open

3 ok · 1 to watch

• i
  Note: Order book unknown—

  No order-book sample for Avantis: its slippage is not counted.
• i
  Note: Margin at max leverage$500 + $400

  Lighter 20x, Avantis 25x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
• ✓
  OK: Same payment interval1h / 1h

  Both legs pay at the same time.

  Long Lighter · 1h−$0.96

  Short Avantis · 1h−$27.40

  now+6h+12h+18h+24h

  Next 24h at the current rates, on $10k a leg: −$28.36Long Lighter: 24 payments, −$0.96; short Avantis: 24 payments, −$27.40.
• i
  Note: No 7-day spread history−0.013%

  The gap cannot be compared with its average yet.
• !
  Watch: Short leg is thinner$56K vs $6.2M OI

  Avantis sets your exit cost. Check its book before closing.
• ✓
  OK: Points on a legLighter Season 3 · Avantis Season 3

  Volume here counts toward the points program.
• ✓
  OK: No KYC on either legLighter No · Avantis No

  Both exchanges let you trade without ID.

Profit calculator

both legs, in and out

Position, each leg

$10k$100k$1M

Hold for

1 day7 days30 days

Orders

takermaker

Price spread

to 7d avgclosesnot counted

Funding rate

range avgcurrent

Funding earned−0.0187%/8h × 21 periods−$39.29

Price spread−0.013% → 0−$1.33

Slippage, 4 ordersno data for Avantis—

Fee Lighter bp × 2 orders$0.00

Fee Avantis bp × 2 orders−$20.00

Net, fees only · 7 days · $10k−$60.62

Costs to cover0.200%Break-evennever at this rate

Slippage: Lighter: live order book, 9 min ago; Avantis: no order-book sample

Cost to enter

taker + slippage from mid, one side

Leg½ spr$10k$100k$1M$5M

BUY · LONGLighter0.330.4 bp$00.9 bp−$98.5 bp−$85255.0 bp−$27.5K

SELL · SHORTAvantis—————

Closing costs about the same again.
Avantis: no data.

Alert

FundingSpread

Tell me when it goes above%/8hNot more often than everymin

Create alert

CL news

posts that mention CL or Crude oil (WTI), from every exchangeSearch all news →

09-25 16:46	Kalshi	Other	BREAKING: WTI oil down nearly 3% in the last 1 hour as Al Jazeera reports US-Iran talks have entered "technical stage" @Kalshi on X ↗
09-25 13:31	Vest Markets	Other	At the open, $CL is down around 2%, with Iran proposing on Thursday to reopen the Strait of Hormuz within seven days. Negotiators are exploring a phased arrangement in which Tehran reopens the strait and Washington lifts its economic blockade of Iran, per Reuters. Trade $CL volatility with a Vest Capital funded account and access up to $25k in trading capital. @VestExchange on X ↗