Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0014%/8h= −1.6% APRpaid last 24h +0.003%

Price spread now: Paradex against Lighter−0.026%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Paradex is 0.026% cheaper against Lighter than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	90.297	0.0032	pay 0.0004% / 1h	8m 22s	$10.8M	$9.9M	20x
Short	Paradex CL-USD-PERP	90.273	0.0018	get 0.0018% / 8h	6h 08m	$15K	$367	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.026%Rate

Funding earned: −$2.98
Price spread: −0.026% → 0.000%: −$2.61
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$9.58
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Lighter: live order book, 8 min ago; Paradex: no order-book sample. 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 Lighter live order book, 8 min ago	0.11 bp	0.4 bp $0	1.2 bp −$12	10.5 bp −$1,046	36.8 bp −$18.4K
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

CL on 36 exchanges

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
Kraken Futures PF_WTIOILUSD	−0.0366%	1h	90.307	+0.011%	$306K	$1.3M	25x	as long as short
Deribit WTIOIL_USDC-PERPETUAL	−0.0303%	1h	90.320	+0.025%	$181K	$422K	15x	as long as short
Aster CLUSD1	−0.0159%	4h	90.370	+0.081%	$24.6M	$66.6M	20x	as long as short
Bitget CLUSDT	−0.0110%	4h	90.341	+0.049%	$41.1M	$49.3M	100x	as long as short
Binance CLUSDT	−0.0105%	4h	90.330	+0.037%	$246.2M	$1.10B	100x	as long as short
Ondo Perps WTI-USD.P	−0.0082%	1h	90.250	−0.052%	$3.4M	$5.7M	20x	as long as short
Variational Omni CL	−0.0082%	4h	90.495	+0.219%	$12.9M	$11.1M	—	as long as short
Nado WTI-PERP	−0.0078%	1h	90.349	+0.058%	$874K	$668K	10x	as long as short
Extended WTI-USD	−0.0072%	1h	90.320	+0.025%	$1.4M	$13.4M	10x	as long as short
Gate CL_USDT	−0.0064%	8h	90.270	−0.030%	$23.2M	$54.4M	100x	as long as short

Show all 36 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
tradeXYZ xyz:CL	−0.0055%	1h	90.313	+0.018%	$173.9M	$208.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0054%	4h	90.509	+0.235%	$70K	$616K	25x	as long as short
edgeX CLUSDC	−0.0040%	4h	90.482	+0.205%	$506K	$378K	30x	as long as short
Aftermath Perps WTIUSD	−0.0032%	1h	90.586	+0.320%	$1K	$27K	5x	as long as short
QFEX CL-USD	−0.0023%	1h	90.330	+0.037%	$2.2M	$2.8M	10x	as long as short
OKX CL-USDT-SWAP	−0.0019%	4h	90.350	+0.059%	$40.9M	$118.2M	50x	as long as short
gTrade (Gains Network) WTI/USD	L −0.0001% / S +0.0036%	1h	89.939	−0.396%	$1K	—	150x	as long as short
dYdX WTI-USD	0.0000%	1h	90.336	+0.043%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	90.333	+0.040%	$27.0M	$96.3M	150x	as long as short
RISEx CL/USDC	0.0000%	1h	90.354	+0.063%	$2.9M	$3.0M	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	90.326	+0.032%	$17K	$238K	10x	as long as short
Coinbase International WTIOIL-PERP-INTX	+0.0008%	1h	90.270	−0.030%	$430K	$1.3M	15x	as long as short
Paradex CL-USD-PERPshort	+0.0018%	8h	90.273	−0.026%	$15K	$367	5x
Lighter WTIlong	+0.0032%	1h	90.297	long leg	$10.8M	$9.9M	20x
Injective WTI/USDC PERP	+0.0033%	1h	100.27	+11.042%	$19K	$5K	30x	as long as short
StandX CL-USD	+0.0040%	1h	90.300	+0.003%	$702K	$2.8M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	90.300	+0.003%	—	$313K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	90.291	−0.007%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	90.350	+0.059%	$2.0M	$80K	20x	as long as short
Phoenix WTIOIL	+0.0053%	1h	90.450	+0.169%	$36K	$37K	20x	as long as short
Pacifica CL	+0.0100%	1h	90.304	+0.008%	$305K	$717K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	90.344	+0.052%	$6.8M	$2.8M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	90.530	+0.258%	$53K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	90.325	+0.031%	$4K	—	10x	as long as short
BloFin CL-USDT	+0.0218%	4h	90.320	+0.025%	$3.9M	$1.0M	50x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0250% / S −0.0172%	1h	90.335	+0.042%	$80K	—	111x	as long as short