CL

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0634%/8h= −69.4% APRnext payment −$0.79 per $10,000 · paid last 24h −0.059%

Price spread now: Deribit against Lighter−0.022%7-day average +0.152% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$90.087% of the position

Long on Lighter Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−1.148%−$115 on $10k

Price spread, last 4 days (all we have)−0.330%−$33 · spread now −0.022%, 7d avg +0.152%

Together, before fees−1.477%+ Points / potential airdropLighter: Season 3 · farm board−$148 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Deribit is 0.174% cheaper against Lighter than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of +0.152%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.970	0.0024	pay 0.0003% / 1h	45m 05s	$11.3M	$8.7M	20x
Short	Deribit WTIOIL_USDC-PERPETUAL	92.950	−0.0610	pay 0.0076% / 1h	45m 05s	$188K	$408K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.022%Rate

Funding earned: −$133.13
Price spread: −0.022% → +0.152%: −$17.37
Slippage, 4 orders: −$1.72
Fee Lighter: 0 bp × 2 orders: $0
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$159.22
Costs to cover: 0.087%
Break-even: never at this rate

Slippage from Lighter: live order book, 3 min ago; Deribit: live order book, 54 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, 3 min ago	0.32 bp	0.3 bp $0	1.4 bp −$14	9.2 bp −$916	37.2 bp −$18.6K
Sell Deribit live order book, 54 min ago	0.54 bp	4.0 bp −$4	7.8 bp −$78	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-PERPETUALshort	−0.0610%	1h	92.950	−0.022%	$188K	$408K	15x
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	93.005	+0.038%	$270K	$930K	25x	as long as short
Aster CLUSD1	−0.0238%	4h	92.939	−0.033%	$24.7M	$61.5M	20x	as long as short
GRVT CL_USDT_Perp	−0.0238%	4h	92.945	−0.027%	$74K	$614K	25x	as long as short
Binance CLUSDT	−0.0138%	4h	92.910	−0.065%	$246.2M	$929.4M	100x	as long as short
Variational Omni CL	−0.0120%	4h	92.980	+0.010%	$13.6M	$10.7M	—	as long as short
Gate CL_USDT	−0.0117%	8h	92.860	−0.118%	$23.4M	$49.0M	100x	as long as short
Nado WTI-PERP	−0.0110%	1h	93.038	+0.074%	$952K	$609K	10x	as long as short
Bitget CLUSDT	−0.0088%	4h	92.894	−0.082%	$42.0M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0074%	1h	92.992	+0.024%	$2K	$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	−0.0057%	4h	92.920	−0.054%	$42.6M	$103.2M	50x	as long as short
edgeX CLUSDC	−0.0046%	4h	92.938	−0.034%	$542K	$343K	30x	as long as short
tradeXYZ xyz:CL	−0.0042%	1h	92.926	−0.047%	$184.1M	$196.3M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.960	−0.011%	$2.3M	$2.5M	10x	as long as short
Ondo Perps WTI-USD.P	−0.0007%	1h	92.960	−0.011%	$3.6M	$5.2M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.037	+0.072%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.930	−0.043%	$27.5M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.017	+0.051%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.978	+0.009%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.558	−0.443%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0008%	8h	92.961	−0.009%	$16K	$367	5x	as long as short
Phoenix WTIOIL	+0.0009%	1h	93.020	+0.054%	$37K	$39K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.204%	$404K	$808K	15x	as long as short
Lighter WTIlong	+0.0024%	1h	92.970	long leg	$11.3M	$8.7M	20x
Extended WTI-USD	+0.0032%	1h	93.020	+0.054%	$1.7M	$14.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.000	+0.032%	$733K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.990	+0.022%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.992	+0.024%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.975	+0.005%	$2.1M	$62K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.001	+0.033%	$347K	$586K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.987	+0.018%	$7.1M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.010	+0.043%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.950	−0.022%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.975	+0.005%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0182%	4h	92.980	+0.011%	$4.1M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.857%	$19K	$5K	30x	as long as short