Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0204%/8h= +22.4% APRpaid last 24h +0.015%

Price spread now: Lighter against Variational Omni+0.068%7-day average −0.085% · you sell dearer than you buy

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+1.117%+$112 on $10k

Price spread, last 7 days−0.086%−$9 · spread now +0.068%, 7d avg −0.085%

Together, before fees+1.031%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$103 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Lighter is 0.153% dearer against Variational Omni than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.085%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni CL	92.697	−0.0204	get 0.0102% / 4h	1h 34m	$13.5M	$11.1M	—
Short	Lighter WTI	92.760	0	get 0.0000% / 1h	34m 18s	$11.2M	$10.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. 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 Variational OmnibpFee LighterbpOrdersPrice spread, now +0.068%Rate

Funding earned: $42.92
Price spread: +0.068% → −0.085%: $15.33
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $58.25
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Variational Omni: RFQ quote, 5 min ago; Lighter: live order book, 4 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 Variational Omni RFQ quote, 5 min ago	2.27 bp	doesn't fit	2.3 bp −$23	5.1 bp −$512	doesn't fit
Sell Lighter live order book, 4 min ago	0.32 bp	0.4 bp $0	0.6 bp −$6	8.5 bp −$847	35.1 bp −$17.6K

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	−0.0612%	1h	92.730	+0.036%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0249%	4h	92.750	+0.057%	$23.9M	$68.8M	20x	as long as short
GRVT CL_USDT_Perp	−0.0230%	4h	92.720	+0.025%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0210%	4h	92.760	+0.068%	$244.6M	$955.8M	100x	as long as short
Variational Omni CLlong	−0.0204%	4h	92.697	long leg	$13.5M	$11.1M	—
Ondo Perps WTI-USD.P	−0.0171%	1h	92.690	−0.007%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0148%	1h	92.817	+0.129%	$960K	$664K	10x	as long as short
Gate CL_USDT	−0.0091%	8h	92.700	+0.003%	$20.9M	$52.5M	100x	as long as short
tradeXYZ xyz:CL	−0.0071%	1h	92.771	+0.080%	$184.4M	$218.2M	20x	as long as short
edgeX CLUSDC	−0.0056%	4h	92.750	+0.058%	$528K	$302K	30x	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	−0.0043%	4h	92.740	+0.046%	$42.7M	$102.0M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	+0.057%	$402K	$944K	15x	as long as short
Aftermath Perps WTIUSD	−0.0037%	1h	92.760	+0.068%	$2K	$27K	5x	as long as short
QFEX CL-USD	−0.0032%	1h	92.770	+0.079%	$2.5M	$1.7M	10x	as long as short
Extended WTI-USD	−0.0008%	1h	92.800	+0.111%	$2.1M	$22.9M	10x	as long as short
Lighter WTIshort	0.0000%	1h	92.760	+0.068%	$11.2M	$10.4M	20x
dYdX WTI-USD	0.0000%	1h	92.761	+0.070%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.756	+0.064%	$26.4M	$81.3M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.758	+0.066%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.790	+0.100%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.756	+0.064%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.325	−0.401%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0019%	8h	92.738	+0.044%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.490	−0.223%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.780	+0.090%	—	$310K	10x	as long as short
KuCoin CLUSDTM	+0.0048%	4h	92.764	+0.072%	$7.3M	$2.3M	50x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.756	+0.064%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.757	+0.065%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.861	+0.177%	$3.3M	$2.7M	20x	as long as short
Pacifica CL	+0.0100%	1h	92.745	+0.051%	$331K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.670	−0.029%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.719	+0.024%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.767	+0.076%	$273K	$872K	25x	as long as short
BloFin CL-USDT	+0.0204%	4h	92.740	+0.046%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.755	+0.063%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.95	+9.986%	$19K	$11K	30x	as long as short