Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0081%/8h= +8.8% APRpaid last 24h −0.004%

Price spread now: Variational Omni against Lighter+0.057%7-day average +0.087% · you sell dearer than you buy

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−1.106%−$111 on $10k

Price spread, last 7 days−0.051%−$5 · spread now +0.057%, 7d avg +0.087%

Together, before fees−1.157%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$116 on $10k · with fees, hour by hour

Funding pays, the price is against you. Variational Omni is 0.030% cheaper against Lighter than usual: you would sell low and buy high (spread +0.057% now, against its 7-day average of +0.087%). If the spread goes back, that is −$3 on $10k: about 30 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 3 days funding on this pair cost −1.106%, 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	92.010	−0.0152	get 0.0019% / 1h	50m 52s	$11.1M	$10.9M	20x
Short	Variational Omni CL	92.063	−0.0071	pay 0.0036% / 4h	50m 52s	$13.4M	$13.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.057%Rate

Funding earned: $16.94
Price spread: +0.057% → +0.087%: −$3
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $13.94
Costs to cover: 0.000%
Break-even: 1.2 days

Slippage unknown: Lighter: live order book, 13 min ago; Variational Omni: RFQ quote, 3 min ago. 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, 13 min ago	0.38 bp	0.8 bp −$1	1.3 bp −$13	9.1 bp −$914	40.2 bp −$20.1K
Sell Variational Omni RFQ quote, 3 min ago	2.28 bp	doesn't fit	2.3 bp −$23	8.0 bp −$801	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
Kraken Futures PF_WTIOILUSD	−0.0450%	1h	92.030	+0.021%	$275K	$1.2M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0402%	1h	92.020	+0.011%	$95K	$189K	15x	as long as short
GRVT CL_USDT_Perp	−0.0266%	4h	92.040	+0.033%	$58K	$702K	25x	as long as short
Aster CLUSD1	−0.0200%	4h	92.018	+0.009%	$23.9M	$77.6M	20x	as long as short
Nado WTI-PERP	−0.0166%	1h	92.093	+0.090%	$923K	$744K	10x	as long as short
Lighter WTIlong	−0.0152%	1h	92.010	long leg	$11.1M	$10.9M	20x
Ondo Perps WTI-USD.P	−0.0126%	1h	91.980	−0.033%	$3.5M	$6.4M	20x	as long as short
Binance CLUSDT	−0.0116%	4h	92.010	0.000%	$244.4M	$1.11B	100x	as long as short
Paradex CL-USD-PERP	−0.0101%	8h	92.002	−0.009%	$15K	$367	5x	as long as short
tradeXYZ xyz:CL	−0.0100%	1h	92.033	+0.025%	$185.6M	$275.7M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bullet WTIOIL-USD	−0.0075%	1h	92.009	−0.002%	$19K	$241K	10x	as long as short
Variational Omni CLshort	−0.0071%	4h	92.063	+0.057%	$13.4M	$13.3M	—
QFEX CL-USD	−0.0054%	1h	92.000	−0.011%	$2.4M	$2.6M	10x	as long as short
Pacifica CL	−0.0020%	1h	92.024	+0.016%	$332K	$578K	10x	as long as short
Gate CL_USDT	−0.0020%	8h	91.960	−0.054%	$21.3M	$57.5M	100x	as long as short
dYdX WTI-USD	0.0000%	1h	92.108	+0.106%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.040	+0.033%	$25.6M	$94.9M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.010	0.000%	$43.1M	$113.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.129	+0.129%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.003	−0.008%	$42.0M	$51.9M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.060	+0.054%	$37K	$101K	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	0.0000%	1h	92.030	+0.022%	$399K	$990K	15x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.601	−0.445%	$4K	—	150x	as long as short
Polymarket Perps WTIOIL-USD	+0.0029%	1h	92.011	+0.001%	$1.6M	$1.4M	20x	as long as short
Extended WTI-USD	+0.0032%	1h	92.080	+0.076%	$2.0M	$27.6M	10x	as long as short
Aftermath Perps WTIUSD	+0.0032%	1h	92.027	+0.018%	$2K	$29K	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.010	0.000%	$723K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.080	+0.076%	—	$308K	10x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.015	+0.005%	$2.0M	$39K	20x	as long as short
edgeX CLUSDC	+0.0052%	4h	92.091	+0.088%	$530K	$334K	30x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.010	0.000%	$7.3M	$2.1M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	91.990	−0.022%	$55K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	91.983	−0.030%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0203% / S −0.0127%	1h	92.005	−0.005%	$76K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.28	+10.070%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.000	−0.011%	$4.0M	$1.4M	50x	as long as short