Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h −0.002%

Price spread now: Lighter against Paradex−0.067%57s7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Lighter

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 airdropParadex: Active · Lighter: Season 3 · farm boardneeds both histories

Funding pays, the price is against you. Lighter is 0.067% cheaper against Paradex than usual: you would sell low and buy high (spread −0.067% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 13 days of funding at the current rate (+$1 a day). The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.799	0.0015	pay 0.0015% / 8h	7h 32m	$16K	$367	5x
Short	Lighter WTI	92.737	0.0032	get 0.0004% / 1h	32m 48s	$11.3M	$8.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Paradex. 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 ParadexbpFee LighterbpOrdersPrice spread, now −0.067%Rate

Funding earned: $3.6
Price spread: −0.067% → 0.000%: −$6.66
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.06
Costs to cover: 0.040%
Break-even: 20.7 days

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 6 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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 6 min ago	0.05 bp	0.1 bp $0	0.4 bp −$4	6.5 bp −$647	34.7 bp −$17.4K

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
Deribit WTIOIL_USDC-PERPETUAL	−0.0396%	1h	92.780	−0.020%	$187K	$410K	15x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0314%	1h	92.804	+0.005%	$271K	$934K	25x	as long as short
Aster CLUSD1	−0.0228%	4h	92.760	−0.042%	$24.8M	$60.6M	20x	as long as short
Gate CL_USDT	−0.0157%	8h	92.690	−0.117%	$23.4M	$49.6M	100x	as long as short
Binance CLUSDT	−0.0126%	4h	92.740	−0.063%	$245.5M	$930.4M	100x	as long as short
Variational Omni CL	−0.0113%	4h	92.780	−0.021%	$13.5M	$10.7M	—	as long as short
Nado WTI-PERP	−0.0099%	1h	92.853	+0.058%	$950K	$600K	10x	as long as short
GRVT CL_USDT_Perp	−0.0094%	4h	92.734	−0.069%	$75K	$624K	25x	as long as short
Bitget CLUSDT	−0.0078%	4h	92.733	−0.071%	$42.2M	$41.7M	100x	as long as short
Aftermath Perps WTIUSD	−0.0072%	1h	92.810	+0.012%	$2K	$26K	5x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX CLUSDC	−0.0063%	4h	92.758	−0.044%	$541K	$342K	30x	as long as short
OKX CL-USDT-SWAP	−0.0050%	4h	92.720	−0.085%	$42.5M	$102.6M	50x	as long as short
QFEX CL-USD	−0.0026%	1h	92.770	−0.031%	$2.3M	$2.4M	10x	as long as short
tradeXYZ xyz:CL	−0.0017%	1h	92.761	−0.041%	$184.1M	$192.2M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	92.833	+0.037%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.763	−0.039%	$27.4M	$81.6M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.824	+0.028%	$3.0M	$2.8M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.818	+0.021%	$19K	$239K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.335	−0.500%	$5K	—	150x	as long as short
Phoenix WTIOIL	+0.0009%	1h	92.850	+0.055%	$37K	$39K	20x	as long as short
Paradex CL-USD-PERPlong	+0.0015%	8h	92.799	long leg	$16K	$367	5x
Coinbase International WTIOIL-PERP-INTX	+0.0016%	1h	92.610	−0.203%	$412K	$831K	15x	as long as short
Lighter WTIshort	+0.0032%	1h	92.737	−0.067%	$11.3M	$8.8M	20x
Extended WTI-USD	+0.0032%	1h	92.790	−0.009%	$1.7M	$14.3M	10x	as long as short
Ondo Perps WTI-USD.P	+0.0034%	1h	92.750	−0.053%	$3.6M	$5.2M	20x	as long as short
StandX CL-USD	+0.0040%	1h	92.750	−0.053%	$730K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.790	−0.009%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.825	+0.028%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.795	−0.004%	$2.1M	$69K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.800	+0.002%	$346K	$589K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.778	−0.022%	$7.1M	$2.5M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.860	+0.066%	$54K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.786	−0.013%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0166% / S −0.0007%	1h	92.805	+0.007%	$80K	—	111x	as long as short
BloFin CL-USDT	+0.0189%	4h	92.780	−0.020%	$4.0M	$1.0M	50x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.13	+10.060%	$19K	$5K	30x	as long as short