Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0196%/8h= +21.5% APRpaid last 24h +0.073%

Price spread now: BloFin against Lighter+0.008%390s7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs−$96as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$170.169% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.792%−$79 on $10k

Price spread, last 3 days (all we have)−0.047%−$5 · spread now +0.008%, 7d avg +0.143%

Together, before fees−0.838%+ Points / potential airdropLighter: Season 3 · farm board−$84 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.136% cheaper against Lighter than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.143%). If the spread goes back, that is −$14 on $10k: about 2.3 days of funding at the current rate (+$6 a day). Mind the row above: over the last 7 days funding on this pair cost −0.792%, so the current rate has only just turned in your favour. The two prices were read 390 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.723	0.0032	pay 0.0004% / 1h	42m 47s	$11.2M	$10.1M	20x
Short	BloFin CL-USDT	92.730	0.0228	get 0.0114% / 4h	2h 42m	$4.0M	$1.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.008%Rate

Funding earned: $41.16
Price spread: +0.008% → +0.143%: −$13.57
Slippage, 4 orders: −$4.94
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: $10.65
Costs to cover: 0.169%
Break-even: 5.2 days

Slippage from Lighter: live order book, 11 min ago; BloFin: 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 Lighter live order book, 11 min ago	0.16 bp	0.5 bp $0	1.8 bp −$18	8.0 bp −$796	36.1 bp −$18.0K
Sell BloFin live order book, 6 min ago	1.08 bp	7.1 bp −$7	9.1 bp −$91	13.6 bp −$1,361	33.3 bp −$16.6K

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	−0.0504%	1h	92.730	+0.008%	$198K	$366K	15x	as long as short
Aster CLUSD1	−0.0335%	4h	92.769	+0.049%	$23.9M	$74.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0310%	4h	92.743	+0.021%	$50K	$632K	25x	as long as short
Binance CLUSDT	−0.0276%	4h	92.720	−0.003%	$244.5M	$999.3M	100x	as long as short
Variational Omni CL	−0.0272%	4h	92.751	+0.030%	$13.3M	$11.2M	—	as long as short
Gate CL_USDT	−0.0164%	8h	92.710	−0.014%	$20.9M	$52.9M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0073%	1h	92.730	+0.008%	$3.5M	$5.8M	20x	as long as short
tradeXYZ xyz:CL	−0.0064%	1h	92.730	+0.008%	$185.2M	$225.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.030	−0.747%	$399K	$942K	15x	as long as short
Nado WTI-PERP	−0.0044%	1h	92.812	+0.096%	$935K	$682K	10x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Kraken Futures PF_WTIOILUSD	−0.0038%	1h	92.796	+0.079%	$275K	$875K	25x	as long as short
QFEX CL-USD	−0.0033%	1h	92.750	+0.029%	$2.5M	$1.7M	10x	as long as short
OKX CL-USDT-SWAP	−0.0012%	4h	92.710	−0.014%	$42.9M	$106.3M	50x	as long as short
dYdX WTI-USD	0.0000%	1h	92.754	+0.033%	$8K	$3K	5x	as long as short
Extended WTI-USD	0.0000%	1h	92.780	+0.061%	$2.1M	$25.1M	10x	as long as short
Bybit CLUSDT	0.0000%	8h	92.735	+0.013%	$26.4M	$83.5M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.734	+0.012%	$42.0M	$46.2M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.072%	$37K	$51K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.786	+0.067%	$18K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.311	−0.444%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0022%	8h	92.723	0.000%	$16K	$367	5x	as long as short
Lighter WTIlong	+0.0032%	1h	92.723	long leg	$11.2M	$10.1M	20x
RISEx CL/USDC	+0.0037%	1h	92.880	+0.170%	$3.3M	$2.7M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.360	−0.391%	$726K	$3.0M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.772	+0.053%	$533K	$300K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.800	+0.083%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.780	+0.061%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.757	+0.037%	$2.1M	$61K	20x	as long as short
Aftermath Perps WTIUSD	+0.0060%	1h	92.780	+0.062%	$2K	$28K	5x	as long as short
KuCoin CLUSDTM	+0.0072%	4h	92.798	+0.081%	$7.2M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.733	+0.010%	$331K	$616K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.740	+0.018%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.734	+0.012%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.765	+0.045%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.93	+9.933%	$19K	$11K	30x	as long as short
BloFin CL-USDTshort	+0.0228%	4h	92.730	+0.008%	$4.0M	$1.2M	50x