Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.001%

Price spread now: Lighter against Paradex+0.029%7-day average — · you sell dearer than you buy

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

Long on Paradex Short on Lighter

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 airdropParadex: Active · Lighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Lighter is 0.029% dearer against Paradex than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 3.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex CL-USD-PERP	92.858	0.0032	pay 0.0032% / 8h	5h 46m	$16K	$367	5x
Short	Lighter WTI	92.885	0	get 0.0000% / 1h	46m 07s	$11.2M	$10.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Paradex. 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 ParadexbpFee LighterbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$6.76
Price spread: +0.029% → 0.000%: $2.86
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.9
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: Paradex: no order-book sample; Lighter: live order book, 12 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Lighter live order book, 12 min ago	0.22 bp	0.2 bp $0	0.3 bp −$3	6.4 bp −$641	24.9 bp −$12.5K

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 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	−0.0719%	1h	92.830	−0.031%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0241%	4h	92.876	+0.019%	$24.0M	$70.0M	20x	as long as short
GRVT CL_USDT_Perp	−0.0208%	4h	92.953	+0.101%	$61K	$633K	25x	as long as short
Binance CLUSDT	−0.0206%	4h	92.874	+0.016%	$244.5M	$956.4M	100x	as long as short
Variational Omni CL	−0.0202%	4h	92.849	−0.010%	$13.5M	$11.1M	—	as long as short
Ondo Perps WTI-USD.P	−0.0146%	1h	92.810	−0.052%	$3.5M	$5.7M	20x	as long as short
Nado WTI-PERP	−0.0131%	1h	92.933	+0.080%	$962K	$668K	10x	as long as short
Gate CL_USDT	−0.0097%	8h	92.820	−0.041%	$20.9M	$52.3M	100x	as long as short
tradeXYZ xyz:CL	−0.0057%	1h	92.876	+0.019%	$184.7M	$218.5M	20x	as long as short
edgeX CLUSDC	−0.0047%	4h	92.897	+0.042%	$529K	$303K	30x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.117%	$402K	$944K	15x	as long as short
QFEX CL-USD	−0.0032%	1h	92.850	−0.009%	$2.5M	$1.7M	10x	as long as short
Aftermath Perps WTIUSD	−0.0023%	1h	92.899	+0.043%	$2K	$28K	5x	as long as short
OKX CL-USDT-SWAP	−0.0014%	4h	92.860	+0.002%	$42.8M	$102.4M	50x	as long as short
Lighter WTIshort	0.0000%	1h	92.885	+0.029%	$11.2M	$10.3M	20x
dYdX WTI-USD	0.0000%	1h	92.917	+0.063%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.900	+0.045%	$26.9M	$81.0M	150x	as long as short
Bitget CLUSDT	0.0000%	4h	92.874	+0.017%	$41.9M	$43.3M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.930	+0.077%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.878	+0.021%	$18K	$242K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.446	−0.444%	$5K	—	150x	as long as short
Extended WTI-USD	+0.0032%	1h	92.920	+0.066%	$2.1M	$23.2M	10x	as long as short
Paradex CL-USD-PERPlong	+0.0032%	8h	92.858	long leg	$16K	$367	5x
StandX CL-USD	+0.0040%	1h	92.460	−0.429%	$727K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	92.900	+0.045%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.887	+0.031%	$1.6M	$1.3M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.868	+0.010%	$2.1M	$61K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	92.992	+0.144%	$3.3M	$2.7M	20x	as long as short
KuCoin CLUSDTM	+0.0066%	4h	92.884	+0.028%	$7.3M	$2.3M	50x	as long as short
Pacifica CL	+0.0100%	1h	92.879	+0.022%	$332K	$618K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.850	−0.009%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.836	−0.024%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	92.869	+0.011%	$273K	$875K	25x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0207% / S −0.0131%	1h	92.865	+0.007%	$78K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.15	+10.003%	$19K	$11K	30x	as long as short
BloFin WTIOIL-USDT	+0.0907%	1h	92.900	+0.045%	—	$437K	20x	as long as short