Funding arb · Price arb /

CL

RWAall CL markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.021%

Price spread now: Gate against Lighter−0.067%7-day average +0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$159as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$190.194% of the position

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−1.394%−$139 on $10k

Price spread, last 7 days0.000%$0 · spread now −0.067%, 7d avg +0.034%

Together, before fees−1.393%+ Points / potential airdropLighter: Season 3 · farm board−$139 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Gate is 0.100% cheaper against Lighter than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of +0.034%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.902	0	get 0.0000% / 1h	13m 54s	$11.2M	$10.6M	20x
Short	Gate CL_USDT	92.840	−0.0047	pay 0.0047% / 8h	4h 13m	$20.8M	$52.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.067%Rate

Funding earned: −$9.87
Price spread: −0.067% → +0.034%: −$10.03
Slippage, 4 orders: −$4.44
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$39.34
Costs to cover: 0.194%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Gate: 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 Lighter live order book, 5 min ago	0.43 bp	0.4 bp $0	0.5 bp −$5	6.8 bp −$682	27.5 bp −$13.8K
Sell Gate live order book, 5 min ago	0.54 bp	8.7 bp −$9	12.2 bp −$122	25.6 bp −$2,560	36.3 bp −$18.1K

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	−0.0611%	1h	92.870	−0.034%	$198K	$370K	15x	as long as short
Aster CLUSD1	−0.0265%	4h	92.920	+0.019%	$24.0M	$66.7M	20x	as long as short
GRVT CL_USDT_Perp	−0.0240%	4h	93.010	+0.116%	$64K	$648K	25x	as long as short
Kraken Futures PF_WTIOILUSD	−0.0196%	1h	92.902	0.000%	$273K	$874K	25x	as long as short
Binance CLUSDT	−0.0186%	4h	92.890	−0.013%	$244.2M	$948.9M	100x	as long as short
Variational Omni CL	−0.0176%	4h	93.029	+0.136%	$13.5M	$10.9M	—	as long as short
Bitget CLUSDT	−0.0120%	4h	92.890	−0.013%	$42.0M	$43.7M	100x	as long as short
tradeXYZ xyz:CL	−0.0111%	1h	92.897	−0.005%	$187.9M	$217.5M	20x	as long as short
Aftermath Perps WTIUSD	−0.0104%	1h	92.989	+0.093%	$2K	$26K	5x	as long as short
Ondo Perps WTI-USD.P	−0.0089%	1h	92.850	−0.056%	$3.5M	$5.4M	20x	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	−0.0053%	4h	92.900	−0.002%	$42.5M	$102.7M	50x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0048%	1h	92.750	−0.164%	$402K	$944K	15x	as long as short
Gate CL_USDTshort	−0.0047%	8h	92.840	−0.067%	$20.8M	$52.1M	100x
QFEX CL-USD	−0.0043%	1h	92.900	−0.002%	$2.4M	$1.7M	10x	as long as short
edgeX CLUSDC	−0.0034%	4h	93.009	+0.116%	$530K	$301K	30x	as long as short
Nado WTI-PERP	−0.0027%	1h	92.988	+0.092%	$964K	$650K	10x	as long as short
KuCoin CLUSDTM	−0.0024%	4h	92.904	+0.002%	$7.1M	$2.4M	50x	as long as short
Lighter WTIlong	0.0000%	1h	92.902	long leg	$11.2M	$10.6M	20x
dYdX WTI-USD	0.0000%	1h	93.027	+0.135%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.893	−0.010%	$26.6M	$80.4M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	92.965	+0.068%	$3.1M	$2.9M	20x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.070	+0.181%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.914	+0.013%	$19K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.480	−0.454%	$5K	—	150x	as long as short
Paradex CL-USD-PERP	+0.0013%	8h	92.899	−0.003%	$16K	$367	5x	as long as short
Extended WTI-USD	+0.0032%	1h	92.940	+0.041%	$2.0M	$20.4M	10x	as long as short
StandX CL-USD	+0.0040%	1h	93.040	+0.149%	$735K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.960	+0.062%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.913	+0.012%	$1.7M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.900	−0.002%	$2.1M	$60K	20x	as long as short
Pacifica CL	+0.0068%	1h	92.907	+0.005%	$330K	$622K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.080	+0.192%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.882	−0.022%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0186%	4h	93.040	+0.149%	$4.0M	$1.1M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0216% / S −0.0143%	1h	92.915	+0.014%	$81K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.25	+10.063%	$19K	$11K	30x	as long as short