Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0278%/8h= −30.4% APRpaid last 24h −0.024%

Price spread now: Aster against Lighter+0.020%7-day average +0.117% · you sell dearer than you buy

Net, funding: paid 7d − costs−$124as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$100.102% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−1.136%−$114 on $10k

Price spread, last 7 days−0.012%−$1 · spread now +0.020%, 7d avg +0.117%

Together, before fees−1.148%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$115 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Aster is 0.098% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.117%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.172	−0.0040	get 0.0005% / 1h	49m 51s	$11.2M	$9.9M	20x
Short	Aster CLUSD1	92.190	−0.0318	pay 0.0159% / 4h	3h 49m	$23.9M	$79.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster 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 AsterbpOrdersPrice spread, now +0.020%Rate

Funding earned: −$58.33
Price spread: +0.020% → +0.117%: −$9.75
Slippage, 4 orders: −$2.2
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$78.29
Costs to cover: 0.102%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Aster: live order book, 4 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 Lighter live order book, 4 min ago	0.32 bp	0.4 bp $0	1.0 bp −$10	7.0 bp −$705	30.6 bp −$15.3K
Sell Aster live order book, 4 min ago	0.54 bp	4.5 bp −$5	4.9 bp −$49	doesn't fit	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
GRVT CL_USDT_Perp	−0.0536%	4h	92.166	−0.006%	$58K	$693K	25x	as long as short
Aster CLUSD1short	−0.0318%	4h	92.190	+0.020%	$23.9M	$79.5M	20x
Deribit WTIOIL_USDC-PERPETUAL	−0.0292%	1h	92.160	−0.013%	$96K	$189K	15x	as long as short
Gate CL_USDT	−0.0276%	8h	92.100	−0.078%	$21.3M	$54.3M	100x	as long as short
Binance CLUSDT	−0.0248%	4h	92.170	−0.002%	$245.1M	$1.08B	100x	as long as short
Variational Omni CL	−0.0236%	4h	92.101	−0.077%	$13.2M	$12.7M	—	as long as short
Bybit CLUSDT	−0.0150%	8h	92.174	+0.002%	$26.0M	$93.8M	150x	as long as short
Nado WTI-PERP	−0.0125%	1h	92.221	+0.053%	$923K	$732K	10x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0120%	1h	92.187	+0.016%	$273K	$1.2M	25x	as long as short
Ondo Perps WTI-USD.P	−0.0095%	1h	92.180	+0.009%	$3.5M	$6.2M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0062%	1h	92.190	+0.020%	$186.2M	$261.6M	20x	as long as short
Lighter WTIlong	−0.0040%	1h	92.172	long leg	$11.2M	$9.9M	20x
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.154%	$399K	$960K	15x	as long as short
QFEX CL-USD	−0.0040%	1h	92.150	−0.024%	$2.4M	$2.2M	10x	as long as short
Paradex CL-USD-PERP	−0.0034%	8h	92.141	−0.034%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.235	+0.068%	$8K	$3K	5x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.140	−0.035%	$42.9M	$111.2M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.279	+0.117%	$3.3M	$2.7M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.171	−0.001%	$41.9M	$51.4M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.260	+0.095%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.145	−0.030%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	91.734	−0.475%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.220	+0.052%	$2.0M	$26.7M	10x	as long as short
edgeX CLUSDC	+0.0036%	4h	92.162	−0.011%	$530K	$306K	30x	as long as short
StandX CL-USD	+0.0040%	1h	92.130	−0.046%	$721K	$3.1M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.210	+0.041%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.165	−0.008%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.149	−0.025%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.143	−0.032%	$353K	$596K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.173	+0.001%	$7.2M	$2.3M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.240	+0.074%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.154	−0.019%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0205% / S −0.0131%	1h	92.145	−0.029%	$77K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.38	+9.992%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.100	−0.078%	$4.0M	$1.4M	50x	as long as short
Aftermath Perps WTIUSD	+0.0427%	1h	92.176	+0.004%	$2K	$29K	5x	as long as short