CL

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0008%/8h= −0.9% APRnext payment −$0.01 per $10,000 · paid last 24h 0.000%

Price spread now: Coinbase International against Lighter+0.190%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs$0as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−1.271%−$127 on $10k

Price spread, last 4 days (all we have)−0.395%−$40 · spread now +0.190%, 7d avg +0.033%

Together, before fees−1.666%+ Points / potential airdropLighter: Season 3 · farm board−$167 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Coinbase International is 0.158% dearer against Lighter than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.983	0.0024	pay 0.0003% / 1h	46m 05s	$11.3M	$8.7M	20x
Short	Coinbase International WTIOIL-PERP-INTX	93.160	0.0016	get 0.0002% / 1h	46m 05s	$404K	$808K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.190%Rate

Funding earned: −$1.68
Price spread: +0.190% → +0.033%: $15.76
Slippage, 4 orders: −$6.04
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$1.96
Costs to cover: 0.160%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Coinbase International: live order book, 27 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	0.54 bp	0.6 bp −$1	1.2 bp −$12	9.7 bp −$973	44.7 bp −$22.4K
Sell Coinbase International live order book, 27 min ago	1.08 bp	8.2 bp −$8	9.8 bp −$98	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	−0.0610%	1h	92.960	−0.025%	$188K	$408K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	93.028	+0.048%	$270K	$931K	25x	as long as short
Aster CLUSD1	−0.0240%	4h	93.022	+0.042%	$24.7M	$61.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.945	−0.041%	$74K	$614K	25x	as long as short
Binance CLUSDT	−0.0138%	4h	92.991	+0.009%	$246.7M	$929.9M	100x	as long as short
Variational Omni CL	−0.0127%	4h	92.920	−0.068%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0112%	1h	93.058	+0.081%	$952K	$610K	10x	as long as short
Bitget CLUSDT	−0.0088%	4h	92.976	−0.008%	$42.1M	$41.7M	100x	as long as short
Gate CL_USDT	−0.0082%	8h	92.930	−0.057%	$23.4M	$49.0M	100x	as long as short
Aftermath Perps WTIUSD	−0.0075%	1h	92.994	+0.012%	$1K	$27K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX CL-USDT-SWAP	−0.0058%	4h	93.000	+0.018%	$42.6M	$103.3M	50x	as long as short
edgeX CLUSDC	−0.0046%	4h	92.938	−0.048%	$542K	$343K	30x	as long as short
tradeXYZ xyz:CL	−0.0045%	1h	93.008	+0.027%	$184.3M	$196.0M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.990	+0.008%	$2.3M	$2.5M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0010%	1h	92.980	−0.003%	$3.6M	$5.3M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.953	−0.032%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.020	+0.040%	$27.4M	$80.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.046	+0.068%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.993	+0.011%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.569	−0.445%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0007%	8h	92.989	+0.006%	$16K	$367	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.960	−0.025%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTXshort	+0.0016%	1h	93.160	+0.190%	$404K	$808K	15x
Lighter WTIlong	+0.0024%	1h	92.983	long leg	$11.3M	$8.7M	20x
Extended WTI-USD	+0.0032%	1h	93.020	+0.040%	$1.7M	$14.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.930	−0.057%	$732K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.990	+0.008%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.010	+0.029%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.995	+0.013%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.022	+0.042%	$347K	$586K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	93.005	+0.024%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.020	+0.040%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.963	−0.021%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	93.015	+0.034%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0180%	4h	92.970	−0.014%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.842%	$19K	$5K	30x	as long as short