Settings8H · net · $10k
LanguageThe language of the site
FundingPeriod funding rates are shown in
UnitsPercent or basis points
CostsCount taker fees and slippage in Net
SizePosition per leg used for Net and slippage
ExchangesWhich exchanges to include everywhere
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Funding arb · Price arb / RWA

USO

RWAAll USO markets →
Backtest 30d
LegExchangePriceFund. /8hEach paymentNext inOIVol 24hLev
LONG
BingXNCSKUSO2USD-USDT
145.66+0.0050pay 0.0050% / 8h4h 51m$959K$1.7M—Long BingX
SHORT
Lighter RHUSO
145.87+0.0032get 0.0004% / 1h51m 10s$395K$519K10xShort Lighter RH
Price gap+0.144%
Funding gap−0.0018% /8h

Both sides work against this direction now: funding costs $1 a day on $10k and the gap is 0.423% under its 7d average. Swap the legs.

Funding on this pair paid 0.151% over the last 7 days: the rate has only just turned.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast
Funding+$15−0.0018% /8h now · paid +0.151% over the last 7D
Price−$42spread +0.144% now, avg +0.567% → −0.423% if it goes back
Costs−$1961.964% of $10k · taker + slippage, in and out
Result−$224−2.24%+ Points / potential airdropLighter RH: Points live · farm boardWhat the last 7D really paid, hour by hour → backtest

Price and funding

1h · loading 5m…
PRICE SPREAD · 7D
Now+0.144%
Average—
Range—
Wider than now—
FUNDING SPREAD · 7D
Average /8h—
Highest—
Lowest—
Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

USO on 6 exchanges

lowest funding first

Before you open

1 ok · 5 to watch
  • Watch: Thin at this size81.0 / 10.1 bp
    At $10k entering BingX costs 81.0 bp, fee and slippage, 8.0× Lighter RH’s.
  • Note: Margin at max leverage— + $1,000
    BingX —, Lighter RH 10x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
  • Watch: Payment intervals differ8h / 1h
    Payments land at different times. Close right after the slower leg pays.
    Next 24h at the current rates, on $10k a leg: −$0.54Long BingX: 3 payments, −$1.50; short Lighter RH: 24 payments, +$0.96.
  • Watch: Gap narrower than usual+0.144% vs +0.567%
    Less room for the price leg to pay you. If it goes back to average, the short loses.
  • Watch: Short leg is thinner$395K vs $959K OI
    Lighter RH sets your exit cost. Check its book before closing.
  • OK: Points on a legLighter RH Points live
    Volume here counts toward the points program.
  • Watch: KYCBingX Yes · Lighter RH No
    Advanced KYC to deposit or trade; unverified accounts can only withdraw, up to 20,000 USDT a day. Rules vary by region.

Profit calculator

both legs, in and out
Position, each leg
Hold for
Orders
Price spread
Funding rate
Funding earned+0.0072%/8h × 21 periods+$15.08
Price spread+0.144% → +0.567% (7d avg)−$42.25
Slippage, 4 orderslive order books−$186.42
Fee BingX bp × 2 orders−$10.00
Fee Lighter RH bp × 2 orders$0.00
Net · 7 days · $10k−$223.59
Costs to cover1.964%Break-even110.8 days
Slippage: BingX: live order book, 4 min ago; Lighter RH: live order book, 25 min ago

Cost to enter

taker + slippage from mid, one side
BUY · LONGBingX10.9981.0 bp−$81240.4 bp−$2,404917.5 bp−$91.7K1135.1 bp−$567.5K
SELL · SHORTLighter RH4.8310.1 bp−$1033.6 bp−$336doesn’t fitdoesn’t fit

Closing costs about the same again.

Alert

USO news

posts that mention USO or United States Oil Fund, from every exchangeSearch all news →
09-22 14:39ArcusOtherhormuz headlines → crude moved before the open → USO was our most traded commodity perp in 24h 9:30 wasn't invited @arcus_xyz on X ↗