Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0019%/8h= −2.1% APRpaid last 24h +0.003%

Price spread now: Paradex against Lighter−0.015%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.487	0.0008	pay 0.0001% / 1h	28m 54s	$11.2M	$10.1M	20x
Short	Paradex CL-USD-PERP	92.473	−0.0011	pay 0.0011% / 8h	7h 28m	$15K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.015%Rate

Funding earned: −$3.96
Price spread: −0.015% → 0.000%: −$1.5
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$9.46
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 5 min ago; Paradex: no order-book sample. Net counts fees only.

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, 5 min ago	0.16 bp	0.3 bp $0	1.0 bp −$10	6.3 bp −$631	28.3 bp −$14.2K
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0346%	4h	92.450	−0.040%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0330%	4h	92.521	+0.037%	$24.0M	$79.6M	20x	as long as short
Binance CLUSDT	−0.0268%	4h	92.470	−0.018%	$245.1M	$1.07B	100x	as long as short
Variational Omni CL	−0.0260%	4h	92.441	−0.050%	$13.1M	$12.3M	—	as long as short
Gate CL_USDT	−0.0222%	8h	92.410	−0.083%	$21.3M	$55.0M	100x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0182%	1h	92.490	+0.003%	$96K	$189K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.512	+0.027%	$274K	$1.1M	25x	as long as short
Nado WTI-PERP	−0.0074%	1h	92.543	+0.060%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0050%	1h	92.410	−0.083%	$3.5M	$6.2M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.494%	$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	92.480	−0.008%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0024%	1h	92.497	+0.011%	$186.6M	$257.1M	20x	as long as short
Paradex CL-USD-PERPshort	−0.0011%	8h	92.473	−0.015%	$15K	$367	5x
dYdX WTI-USD	0.0000%	1h	92.483	−0.004%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.475	−0.013%	$26.3M	$92.7M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.450	−0.040%	$43.0M	$111.0M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.622	+0.146%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.476	−0.012%	$42.1M	$50.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.490	+0.003%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.487	0.000%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.046	−0.477%	$5K	—	150x	as long as short
Lighter WTIlong	+0.0008%	1h	92.487	long leg	$11.2M	$10.1M	20x
edgeX CLUSDC	+0.0027%	4h	92.462	−0.027%	$532K	$300K	30x	as long as short
Extended WTI-USD	+0.0032%	1h	92.530	+0.046%	$2.3M	$26.9M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.380	−0.116%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.510	+0.025%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.499	+0.013%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.480	−0.008%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.493	+0.006%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.499	+0.013%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.550	+0.068%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.450	−0.040%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.485	−0.002%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.806%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.470	−0.018%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0260%	1h	92.481	−0.006%	$2K	$28K	5x	as long as short