Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0132%/8h= −14.5% APRpaid last 24h −0.008%

Price spread now: Bitget against Lighter−0.029%7-day average +0.104% · you buy dearer than you sell

Net, funding: paid 7d − costs−$138as in the Funding arb table

Net, price: spread back to 7d avg − costs−$30as in the Price arb table

costs, in and out, $10k−$170.166% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−1.215%−$122 on $10k

Price spread, last 7 days+0.067%+$7 · spread now −0.029%, 7d avg +0.104%

Together, before fees−1.148%+ Points / potential airdropLighter: Season 3 · farm board−$115 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Bitget is 0.133% cheaper against Lighter than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of +0.104%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	93.696	0.0032	pay 0.0004% / 1h	35m 59s	$11.3M	$9.6M	20x
Short	Bitget CLUSDT	93.669	−0.0100	pay 0.0050% / 4h	1h 35m	$42.2M	$42.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.029%Rate

Funding earned: −$27.72
Price spread: −0.029% → +0.104%: −$13.28
Slippage, 4 orders: −$4.64
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$57.63
Costs to cover: 0.166%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Bitget: live order book, 3 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	0.64 bp	0.9 bp −$1	1.0 bp −$10	8.6 bp −$864	36.5 bp −$18.2K
Sell Bitget live order book, 3 min ago	0.59 bp	7.3 bp −$7	9.2 bp −$92	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	−0.0390%	1h	93.680	−0.017%	$197K	$382K	15x	as long as short
Aster CLUSD1	−0.0268%	4h	93.716	+0.021%	$24.5M	$65.3M	20x	as long as short
GRVT CL_USDT_Perp	−0.0246%	4h	93.610	−0.092%	$58K	$629K	25x	as long as short
Aftermath Perps WTIUSD	−0.0147%	1h	93.719	+0.025%	$2K	$26K	5x	as long as short
Binance CLUSDT	−0.0147%	4h	93.702	+0.006%	$246.6M	$920.3M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0137%	1h	93.699	+0.003%	$287K	$957K	25x	as long as short
Variational Omni CL	−0.0135%	4h	93.609	−0.093%	$13.5M	$10.6M	—	as long as short
Ondo Perps WTI-USD.P	−0.0110%	1h	93.650	−0.049%	$3.5M	$5.3M	20x	as long as short
Gate CL_USDT	−0.0102%	8h	93.620	−0.081%	$22.4M	$48.9M	100x	as long as short
Bitget CLUSDTshort	−0.0100%	4h	93.669	−0.029%	$42.2M	$42.1M	100x

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0066%	1h	93.699	+0.003%	$185.1M	$206.6M	20x	as long as short
Nado WTI-PERP	−0.0057%	1h	93.742	+0.050%	$966K	$625K	10x	as long as short
QFEX CL-USD	−0.0023%	1h	93.670	−0.028%	$2.3M	$2.5M	10x	as long as short
edgeX CLUSDC	−0.0018%	4h	93.716	+0.021%	$527K	$305K	30x	as long as short
OKX CL-USDT-SWAP	−0.0015%	4h	93.690	−0.006%	$42.6M	$101.6M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0008%	1h	93.500	−0.209%	$404K	$916K	15x	as long as short
dYdX WTI-USD	0.0000%	1h	93.733	+0.039%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.699	+0.003%	$27.0M	$79.2M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.749	+0.056%	$3.1M	$2.8M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.680	−0.017%	$37K	$39K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.697	+0.001%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	93.244	−0.482%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0027%	8h	93.680	−0.017%	$16K	$367	5x	as long as short
Lighter WTIlong	+0.0032%	1h	93.696	long leg	$11.3M	$9.6M	20x
Extended WTI-USD	+0.0032%	1h	93.740	+0.047%	$2.0M	$15.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.700	+0.004%	$743K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.720	+0.026%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.685	−0.012%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.696	0.000%	$2.1M	$61K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.698	+0.002%	$333K	$575K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.746	+0.053%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.640	−0.060%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.667	−0.031%	$4K	—	10x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.97	+9.901%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0225%	4h	93.750	+0.058%	$4.0M	$978K	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0247% / S −0.0181%	1h	93.695	−0.001%	$84K	—	111x	as long as short