Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h −0.021%

Price spread now: Gate against Lighter−0.047%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$210.212% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.393%−$139 on $10k

Price spread, last 7 days−0.005%$0 · spread now −0.047%, 7d avg +0.034%

Together, before fees−1.398%+ Points / potential airdropLighter: Season 3 · farm board−$140 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Gate is 0.081% cheaper against Lighter than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	93.174	0.0024	pay 0.0003% / 1h	30m 45s	$11.2M	$10.3M	20x
Short	Gate CL_USDT	93.130	−0.0057	pay 0.0057% / 8h	3h 30m	$21.2M	$51.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.047%Rate

Funding earned: −$17.01
Price spread: −0.047% → +0.034%: −$8.12
Slippage, 4 orders: −$6.19
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$46.32
Costs to cover: 0.212%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Gate: 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, 8 min ago	0.48 bp	0.6 bp −$1	0.7 bp −$7	7.5 bp −$750	32.0 bp −$16.0K
Sell Gate live order book, 3 min ago	0.54 bp	9.6 bp −$10	13.4 bp −$134	27.0 bp −$2,699	37.9 bp −$18.9K

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	−0.0501%	1h	93.140	−0.036%	$199K	$370K	15x	as long as short
GRVT CL_USDT_Perp	−0.0272%	4h	93.220	+0.050%	$54K	$645K	25x	as long as short
Aster CLUSD1	−0.0261%	4h	93.210	+0.039%	$24.1M	$66.6M	20x	as long as short
Binance CLUSDT	−0.0173%	4h	93.175	+0.001%	$245.5M	$942.3M	100x	as long as short
Variational Omni CL	−0.0156%	4h	93.159	−0.016%	$13.4M	$10.9M	—	as long as short
Nado WTI-PERP	−0.0124%	1h	93.273	+0.106%	$964K	$631K	10x	as long as short
Bitget CLUSDT	−0.0124%	4h	93.165	−0.010%	$41.9M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.220	+0.049%	$3.5M	$5.4M	20x	as long as short
Aftermath Perps WTIUSD	−0.0115%	1h	93.205	+0.033%	$2K	$27K	5x	as long as short
edgeX CLUSDC	−0.0074%	4h	93.201	+0.029%	$524K	$306K	30x	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	−0.0061%	1h	93.174	0.000%	$277K	$958K	25x	as long as short
Gate CL_USDTshort	−0.0057%	8h	93.130	−0.047%	$21.2M	$51.3M	100x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	+0.017%	$401K	$927K	15x	as long as short
OKX CL-USDT-SWAP	−0.0039%	4h	93.160	−0.015%	$42.7M	$102.8M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.210	+0.039%	$2.3M	$1.8M	10x	as long as short
tradeXYZ xyz:CL	−0.0032%	1h	93.175	+0.001%	$184.4M	$217.9M	20x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.260	+0.092%	$37K	$41K	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.263	+0.095%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.190	+0.017%	$26.9M	$80.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	93.287	+0.121%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.174	0.000%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.736	−0.470%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0004%	4h	93.238	+0.069%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0015%	8h	93.218	+0.048%	$16K	$367	5x	as long as short
Lighter WTIlong	+0.0024%	1h	93.174	long leg	$11.2M	$10.3M	20x
Extended WTI-USD	+0.0024%	1h	93.220	+0.049%	$2.0M	$19.0M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.170	−0.004%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.210	+0.039%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.180	+0.006%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.177	+0.003%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.215	+0.044%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.240	+0.071%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.156	−0.020%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0204%	4h	93.230	+0.060%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.51	+10.020%	$19K	$11K	30x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0221% / S −0.0149%	1h	93.175	+0.001%	$81K	—	111x	as long as short