Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0364%/8h= −39.9% APRpaid last 24h −0.015%

Price spread now: GRVT against Lighter−0.106%7-day average +0.204% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Lighter Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−1.269%−$127 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.106%, 7d avg +0.204%

Together, before fees−1.147%+ Points / potential airdropLighter: Season 3 · GRVT: Active · farm board−$115 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and GRVT is 0.310% cheaper against Lighter than usual: you would sell low and buy high (−$31 if the spread goes back to its 7-day average of +0.204%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.478	0	get 0.0000% / 1h	37m 06s	$11.2M	$10.1M	20x
Short	GRVT CL_USDT_Perp	92.380	−0.0364	pay 0.0182% / 4h	3h 37m	$58K	$693K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.106%Rate

Funding earned: −$76.44
Price spread: −0.106% → +0.204%: −$30.99
Slippage, 4 orders: −$4.92
Fee Lighter: 0 bp × 2 orders: $0
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$121.35
Costs to cover: 0.139%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; GRVT: live order book, 36 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, 6 min ago	0.27 bp	0.5 bp −$1	1.0 bp −$10	7.2 bp −$724	32.2 bp −$16.1K
Sell GRVT live order book, 36 min ago	0.54 bp	5.0 bp −$5	6.1 bp −$61	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
GRVT CL_USDT_Perpshort	−0.0364%	4h	92.380	−0.106%	$58K	$693K	25x
Aster CLUSD1	−0.0323%	4h	92.506	+0.030%	$24.0M	$81.4M	20x	as long as short
Binance CLUSDT	−0.0261%	4h	92.487	+0.009%	$245.2M	$1.08B	100x	as long as short
Variational Omni CL	−0.0247%	4h	92.351	−0.138%	$13.2M	$12.1M	—	as long as short
Gate CL_USDT	−0.0228%	8h	92.410	−0.074%	$21.3M	$54.7M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0182%	1h	92.490	+0.013%	$96K	$189K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.516	+0.041%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0093%	1h	92.522	+0.048%	$932K	$734K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0054%	1h	92.440	−0.041%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.484%	$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	−0.019%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0026%	1h	92.502	+0.026%	$186.7M	$256.5M	20x	as long as short
Paradex CL-USD-PERP	−0.0019%	8h	92.457	−0.023%	$15K	$367	5x	as long as short
Lighter WTIlong	0.0000%	1h	92.478	long leg	$11.2M	$10.1M	20x
dYdX WTI-USD	0.0000%	1h	92.483	+0.006%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.500	+0.024%	$26.1M	$93.0M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.470	−0.009%	$42.9M	$111.3M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.600	+0.132%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.479	+0.001%	$42.1M	$51.0M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.530	+0.056%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.493	+0.016%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.039	−0.475%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.520	+0.045%	$2.3M	$27.3M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.370	−0.117%	$722K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.510	+0.035%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.502	+0.026%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.481	+0.003%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0096%	4h	92.401	−0.084%	$531K	$299K	30x	as long as short
Pacifica CL	+0.0100%	1h	92.479	+0.001%	$354K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.509	+0.034%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.470	−0.009%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.446	−0.035%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.485	+0.008%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.816%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.400	−0.084%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0318%	1h	92.390	−0.095%	$2K	$28K	5x	as long as short