Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h 0.000%

Price spread now: Lighter against Bybit−0.017%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs+$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$6as in the Price arb table

costs, in and out, $10k−$140.139% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+1.361%+$136 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.017%, 7d avg −0.092%

Together, before fees+1.352%+ Points / potential airdropLighter: Season 3 · farm board+$135 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.075% dearer against Bybit than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit CLUSDT	93.240	0	get 0.0000% / 8h	3h 43m	$26.9M	$80.7M	150x
Short	Lighter WTI	93.224	0.0032	get 0.0004% / 1h	43m 45s	$11.2M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now −0.017%Rate

Funding earned: $6.72
Price spread: −0.017% → −0.092%: $7.51
Slippage, 4 orders: −$2.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $0.38
Costs to cover: 0.139%
Break-even: 6.6 days

Slippage from Bybit: live order book, 5 min ago; Lighter: live order book, 5 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 Bybit live order book, 5 min ago	0.54 bp	6.6 bp −$7	7.7 bp −$77	15.4 bp −$1,535	78.3 bp −$39.1K
Sell Lighter live order book, 5 min ago	0.54 bp	0.7 bp −$1	1.3 bp −$13	6.4 bp −$642	26.4 bp −$13.2K

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	−0.0608%	1h	93.160	−0.086%	$199K	$370K	15x	as long as short
Aster CLUSD1	−0.0262%	4h	93.243	+0.003%	$24.1M	$67.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0192%	4h	93.168	−0.077%	$54K	$658K	25x	as long as short
Binance CLUSDT	−0.0173%	4h	93.230	−0.011%	$245.5M	$942.0M	100x	as long as short
Variational Omni CL	−0.0160%	4h	93.169	−0.076%	$13.4M	$10.8M	—	as long as short
Nado WTI-PERP	−0.0130%	1h	93.258	+0.019%	$964K	$642K	10x	as long as short
Bitget CLUSDT	−0.0122%	4h	93.208	−0.034%	$42.0M	$43.3M	100x	as long as short
Ondo Perps WTI-USD.P	−0.0118%	1h	93.110	−0.139%	$3.5M	$5.3M	20x	as long as short
Aftermath Perps WTIUSD	−0.0111%	1h	93.187	−0.057%	$2K	$27K	5x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0061%	1h	93.192	−0.051%	$270K	$951K	25x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate CL_USDT	−0.0050%	8h	93.180	−0.064%	$21.0M	$50.9M	100x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	93.190	−0.054%	$401K	$928K	15x	as long as short
OKX CL-USDT-SWAP	−0.0033%	4h	93.240	0.000%	$42.7M	$102.9M	50x	as long as short
QFEX CL-USD	−0.0033%	1h	93.180	−0.064%	$2.3M	$1.8M	10x	as long as short
KuCoin CLUSDTM	−0.0010%	4h	93.263	+0.025%	$7.1M	$2.4M	50x	as long as short
Phoenix WTIOIL	−0.0009%	1h	93.230	−0.011%	$37K	$41K	20x	as long as short
edgeX CLUSDC	−0.0005%	4h	93.232	−0.008%	$524K	$308K	30x	as long as short
tradeXYZ xyz:CL	−0.0003%	1h	93.232	−0.009%	$184.6M	$219.0M	20x	as long as short
dYdX WTI-USD	0.0000%	1h	93.272	+0.035%	$8K	$3K	5x	as long as short
Bybit CLUSDTlong	0.0000%	8h	93.240	long leg	$26.9M	$80.7M	150x
RISEx CL/USDC	0.0000%	1h	93.264	+0.026%	$3.1M	$2.9M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	93.206	−0.036%	$19K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.769	−0.505%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0016%	8h	93.218	−0.023%	$16K	$367	5x	as long as short
Lighter WTIshort	+0.0032%	1h	93.224	−0.017%	$11.2M	$10.3M	20x
Extended WTI-USD	+0.0032%	1h	93.270	+0.032%	$2.0M	$19.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.150	−0.097%	$736K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.220	−0.021%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.209	−0.033%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	93.200	−0.043%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0100%	1h	93.235	−0.006%	$331K	$597K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.280	+0.043%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	93.167	−0.079%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0205%	4h	93.200	−0.043%	$4.0M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0219% / S −0.0147%	1h	93.195	−0.048%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.17	+9.573%	$19K	$11K	30x	as long as short