Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.008%

Price spread now: edgeX against Lighter−0.088%7-day average +0.150% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$300.302% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.289%−$129 on $10k

Price spread, last 3 days (all we have)+0.091%+$9 · spread now −0.088%, 7d avg +0.150%

Together, before fees−1.198%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board−$120 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.238% cheaper against Lighter than usual: you would sell low and buy high (spread −0.088% now, against its 7-day average of +0.150%). If the spread goes back, that is −$24 on $10k: about 8.3 days of funding at the current rate (+$3 a day). Mind the row above: over the last 7 days funding on this pair cost −1.289%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.482	0	get 0.0000% / 1h	35m 30s	$11.2M	$10.1M	20x
Short	edgeX CLUSDC	92.401	0.0096	get 0.0048% / 4h	3h 35m	$531K	$299K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.088%Rate

Funding earned: $20.14
Price spread: −0.088% → +0.150%: −$23.76
Slippage, 4 orders: −$21.16
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$33.77
Costs to cover: 0.302%
Break-even: 18.7 days

Slippage from Lighter: live order book, 8 min ago; edgeX: live order book, 38 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, 8 min ago	0.27 bp	0.5 bp −$1	1.0 bp −$10	7.2 bp −$724	32.2 bp −$16.1K
Sell edgeX live order book, 38 min ago	9.98 bp	14.5 bp −$14	14.9 bp −$149	21.4 bp −$2,139	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
GRVT CL_USDT_Perp	−0.0364%	4h	92.380	−0.110%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0325%	4h	92.483	+0.001%	$24.0M	$81.1M	20x	as long as short
Binance CLUSDT	−0.0263%	4h	92.480	−0.002%	$245.2M	$1.08B	100x	as long as short
Variational Omni CL	−0.0254%	4h	92.451	−0.034%	$13.2M	$12.2M	—	as long as short
Gate CL_USDT	−0.0211%	8h	92.410	−0.078%	$21.3M	$54.8M	100x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.495	+0.014%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0090%	1h	92.523	+0.045%	$932K	$731K	10x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0074%	1h	92.480	−0.002%	$96K	$189K	15x	as long as short
Ondo Perps WTI-USD.P	−0.0048%	1h	92.420	−0.067%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.489%	$399K	$960K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.460	−0.024%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0026%	1h	92.495	+0.014%	$186.6M	$256.5M	20x	as long as short
Paradex CL-USD-PERP	−0.0017%	8h	92.463	−0.021%	$15K	$367	5x	as long as short
Lighter WTIlong	0.0000%	1h	92.482	long leg	$11.2M	$10.1M	20x
dYdX WTI-USD	0.0000%	1h	92.483	+0.001%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.480	−0.002%	$26.1M	$92.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.450	−0.035%	$42.9M	$111.1M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.604	+0.132%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.462	−0.022%	$42.1M	$50.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.530	+0.052%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.465	−0.018%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.025	−0.494%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.520	+0.041%	$2.3M	$27.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.420	−0.067%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.500	+0.019%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.485	+0.003%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.470	−0.013%	$2.0M	$39K	20x	as long as short
edgeX CLUSDCshort	+0.0096%	4h	92.401	−0.088%	$531K	$299K	30x
Pacifica CL	+0.0100%	1h	92.480	−0.002%	$354K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.497	+0.016%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.550	+0.074%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.435	−0.051%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.465	−0.018%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.812%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.400	−0.089%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0305%	1h	92.413	−0.074%	$2K	$28K	5x	as long as short