CL

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0031%/8h= −3.4% APRnext payment −$0.04 per $10,000 · paid last 24h −0.008%

Price spread now: QFEX against Lighter+0.014%7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$22as in the Price arb table

costs, in and out, $10k−$150.150% of the position

Long on Lighter Short on QFEX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−1.135%−$113 on $10k

Price spread, last 7 days+0.016%+$2 · spread now +0.014%, 7d avg +0.082%

Together, before fees−1.119%+ Points / potential airdropLighter: Season 3 · farm board−$112 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and QFEX is 0.068% cheaper against Lighter than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.082%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	90.907	0.0008	pay 0.0001% / 1h	18m 30s	$11.1M	$9.5M	20x
Short	QFEX CL-USD	90.920	−0.0023	pay 0.0003% / 1h	18m 30s	$2.2M	$3.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

QFEX 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 QFEXbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$6.6
Price spread: +0.014% → +0.082%: −$6.79
Slippage, 4 orders: −$5.02
Fee Lighter: 0 bp × 2 orders: $0
Fee QFEX: 5 bp × 2 orders: −$10
Net: −$28.41
Costs to cover: 0.150%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; QFEX: 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	0.05 bp	0.3 bp $0	1.2 bp −$12	8.5 bp −$851	34.5 bp −$17.3K
Sell QFEX live order book, 3 min ago	1.65 bp	6.6 bp −$7	6.6 bp −$66	8.0 bp −$799	doesn't fit

CL on 36 exchanges

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	−0.0410%	1h	90.910	+0.003%	$182K	$435K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0363%	1h	90.938	+0.035%	$305K	$1.3M	25x	as long as short
Aster CLUSD1	−0.0172%	4h	90.960	+0.058%	$24.7M	$65.4M	20x	as long as short
Binance CLUSDT	−0.0113%	4h	90.934	+0.030%	$246.4M	$1.09B	100x	as long as short
Bitget CLUSDT	−0.0110%	4h	90.901	−0.007%	$41.3M	$48.7M	100x	as long as short
Extended WTI-USD	−0.0096%	1h	90.930	+0.025%	$1.4M	$13.9M	10x	as long as short
edgeX CLUSDC	−0.0095%	4h	90.920	+0.015%	$508K	$379K	30x	as long as short
Variational Omni CL	−0.0084%	4h	90.906	−0.001%	$12.9M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0082%	1h	90.963	+0.062%	$914K	$651K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0072%	1h	90.840	−0.074%	$3.4M	$5.7M	20x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0070%	8h	90.850	−0.063%	$23.1M	$53.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0061%	1h	90.912	+0.006%	$176.9M	$209.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0042%	4h	91.038	+0.144%	$69K	$626K	25x	as long as short
Aftermath Perps WTIUSD	−0.0032%	1h	90.981	+0.082%	$2K	$27K	5x	as long as short
QFEX CL-USDshort	−0.0023%	1h	90.920	+0.014%	$2.2M	$3.0M	10x
OKX CL-USDT-SWAP	−0.0021%	4h	90.920	+0.014%	$40.5M	$117.4M	50x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	90.540	−0.404%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.969	+0.068%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.946	+0.043%	$26.9M	$95.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.949	+0.046%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.921	+0.016%	$17K	$237K	10x	as long as short
Lighter WTIlong	+0.0008%	1h	90.907	long leg	$11.1M	$9.5M	20x
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.910	+0.003%	$409K	$1.1M	15x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	90.890	−0.019%	$15K	$367	5x	as long as short
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+10.297%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.970	+0.069%	$708K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.910	+0.003%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.893	−0.015%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.930	+0.025%	$2.0M	$81K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.950	+0.047%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.928	+0.023%	$314K	$709K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.947	+0.044%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.960	+0.058%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.902	−0.006%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0218%	4h	90.960	+0.058%	$3.9M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.925	+0.020%	$81K	—	111x	as long as short