Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0068%/8h= +7.4% APRpaid last 24h +0.024%

Price spread now: KuCoin against Lighter+0.010%7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$116as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$200.200% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.960%−$96 on $10k

Price spread, last 7 days+0.083%+$8 · spread now +0.010%, 7d avg +0.115%

Together, before fees−0.877%+ Points / potential airdropLighter: Season 3 · farm board−$88 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.105% cheaper against Lighter than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.115%). If the spread goes back, that is −$11 on $10k: about 5.1 days of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.960%, 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	92.932	0.0032	pay 0.0004% / 1h	41m 05s	$11.3M	$8.8M	20x
Short	KuCoin CLUSDTM	92.941	0.0100	get 0.0050% / 4h	3h 41m	$7.0M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.010%Rate

Funding earned: $14.28
Price spread: +0.010% → +0.115%: −$10.5
Slippage, 4 orders: −$8.04
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$16.26
Costs to cover: 0.200%
Break-even: 15.0 days

Slippage from Lighter: live order book, 7 min ago; KuCoin: live order book, 7 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	0.32 bp	0.3 bp $0	1.4 bp −$14	9.2 bp −$916	37.2 bp −$18.6K
Sell KuCoin live order book, 7 min ago	1.67 bp	10.3 bp −$10	doesn't fit	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	−0.0503%	1h	92.900	−0.034%	$188K	$409K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0313%	1h	92.940	+0.009%	$270K	$930K	25x	as long as short
Aster CLUSD1	−0.0234%	4h	92.960	+0.031%	$24.7M	$61.2M	20x	as long as short
Gate CL_USDT	−0.0165%	8h	92.850	−0.088%	$23.4M	$49.2M	100x	as long as short
Binance CLUSDT	−0.0134%	4h	92.990	+0.062%	$246.4M	$930.4M	100x	as long as short
GRVT CL_USDT_Perp	−0.0124%	4h	93.007	+0.081%	$74K	$614K	25x	as long as short
Variational Omni CL	−0.0120%	4h	92.980	+0.051%	$13.6M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0102%	1h	92.912	−0.021%	$951K	$608K	10x	as long as short
Bitget CLUSDT	−0.0088%	4h	92.915	−0.018%	$42.0M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0069%	1h	92.982	+0.053%	$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	−0.0053%	4h	92.930	−0.002%	$42.6M	$103.2M	50x	as long as short
tradeXYZ xyz:CL	−0.0027%	1h	92.931	−0.001%	$184.3M	$196.5M	20x	as long as short
QFEX CL-USD	−0.0026%	1h	92.900	−0.034%	$2.3M	$2.4M	10x	as long as short
edgeX CLUSDC	−0.0020%	4h	92.998	+0.071%	$542K	$343K	30x	as long as short
dYdX WTI-USD	0.0000%	1h	92.960	+0.030%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.962	+0.032%	$27.5M	$80.7M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.942	+0.011%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.934	+0.002%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.507	−0.457%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.930	−0.002%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERP	+0.0010%	8h	92.873	−0.063%	$16K	$367	5x	as long as short
Ondo Perps WTI-USD.P	+0.0014%	1h	92.880	−0.056%	$3.6M	$5.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	93.160	+0.245%	$404K	$794K	15x	as long as short
Lighter WTIlong	+0.0032%	1h	92.932	long leg	$11.3M	$8.8M	20x
Extended WTI-USD	+0.0032%	1h	92.960	+0.030%	$1.7M	$14.6M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.020	+0.095%	$733K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.920	−0.013%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.920	−0.013%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.935	+0.003%	$2.1M	$64K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.906	−0.028%	$346K	$586K	10x	as long as short
KuCoin CLUSDTMshort	+0.0100%	4h	92.941	+0.010%	$7.0M	$2.4M	50x
ApeX Omni CLUSDT	+0.0100%	1h	92.960	+0.030%	$54K	$267K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.909	−0.024%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S 0.0000%	1h	92.935	+0.003%	$85K	—	111x	as long as short
BloFin CL-USDT	+0.0187%	4h	92.880	−0.056%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+9.902%	$19K	$5K	30x	as long as short