Funding arb · Price arb /

CL

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0158%/8h= +17.3% APRpaid last 24h +0.072%

Price spread now: BloFin against Lighter+0.019%7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$160.158% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.792%−$79 on $10k

Price spread, last 4 days (all we have)−0.475%−$48 · spread now +0.019%, 7d avg +0.143%

Together, before fees−1.267%+ Points / potential airdropLighter: Season 3 · farm board−$127 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.124% cheaper against Lighter than usual: you would sell low and buy high (spread +0.019% now, against its 7-day average of +0.143%). If the spread goes back, that is −$12 on $10k: about 2.6 days of funding at the current rate (+$5 a day). Mind the row above: over the last 7 days funding on this pair cost −0.792%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.982	0	get 0.0000% / 1h	1m 08s	$11.2M	$10.6M	20x
Short	BloFin CL-USDT	93.000	0.0158	get 0.0079% / 4h	1h 01m	$4.1M	$1.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.019%Rate

Funding earned: $33.22
Price spread: +0.019% → +0.143%: −$12.39
Slippage, 4 orders: −$3.75
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: $5.07
Costs to cover: 0.158%
Break-even: 5.9 days

Slippage from Lighter: live order book, 7 min ago; BloFin: live order book, 2 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, 7 min ago	0.22 bp	0.3 bp $0	1.5 bp −$15	8.4 bp −$838	33.7 bp −$16.8K
Sell BloFin live order book, 2 min ago	1.61 bp	7.6 bp −$8	8.3 bp −$83	13.2 bp −$1,315	31.8 bp −$15.9K

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	−0.0610%	1h	92.950	−0.034%	$198K	$369K	15x	as long as short
Aster CLUSD1	−0.0263%	4h	92.987	+0.005%	$23.9M	$68.2M	20x	as long as short
GRVT CL_USDT_Perp	−0.0248%	4h	93.052	+0.075%	$54K	$635K	25x	as long as short
Binance CLUSDT	−0.0206%	4h	92.982	0.000%	$244.5M	$953.4M	100x	as long as short
Variational Omni CL	−0.0197%	4h	92.966	−0.017%	$13.5M	$11.2M	—	as long as short
Ondo Perps WTI-USD.P	−0.0163%	1h	92.960	−0.024%	$3.5M	$5.6M	20x	as long as short
Nado WTI-PERP	−0.0141%	1h	93.052	+0.076%	$962K	$653K	10x	as long as short
Extended WTI-USD	−0.0088%	1h	93.020	+0.041%	$2.1M	$22.0M	10x	as long as short
OKX CL-USDT-SWAP	−0.0083%	4h	92.990	+0.009%	$42.6M	$102.8M	50x	as long as short
tradeXYZ xyz:CL	−0.0075%	1h	92.976	−0.006%	$185.1M	$217.4M	20x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aftermath Perps WTIUSD	−0.0066%	1h	93.023	+0.044%	$2K	$27K	5x	as long as short
Gate CL_USDT	−0.0061%	8h	92.930	−0.056%	$20.9M	$53.4M	100x	as long as short
edgeX CLUSDC	−0.0047%	4h	92.984	+0.002%	$529K	$302K	30x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.750	−0.250%	$402K	$944K	15x	as long as short
Bitget CLUSDT	−0.0036%	4h	92.968	−0.015%	$42.0M	$43.6M	100x	as long as short
QFEX CL-USD	−0.0032%	1h	92.990	+0.009%	$2.5M	$1.7M	10x	as long as short
Lighter WTIlong	0.0000%	1h	92.982	long leg	$11.2M	$10.6M	20x
dYdX WTI-USD	0.0000%	1h	93.099	+0.126%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	93.002	+0.022%	$26.7M	$80.9M	150x	as long as short
Phoenix WTIOIL	0.0000%	1h	93.050	+0.073%	$37K	$42K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.999	+0.018%	$18K	$241K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.554	−0.460%	$5K	—	150x	as long as short
KuCoin CLUSDTM	+0.0006%	4h	93.022	+0.043%	$7.1M	$2.4M	50x	as long as short
Paradex CL-USD-PERP	+0.0011%	8h	92.987	+0.005%	$16K	$367	5x	as long as short
StandX CL-USD	+0.0040%	1h	92.960	−0.024%	$733K	$2.9M	40x	as long as short
Vest CL-PERP	+0.0046%	1h	93.030	+0.052%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	93.010	+0.030%	$1.6M	$1.2M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.980	−0.002%	$2.1M	$60K	20x	as long as short
RISEx CL/USDC	+0.0066%	1h	93.089	+0.115%	$3.1M	$2.9M	20x	as long as short
Pacifica CL	+0.0100%	1h	93.011	+0.031%	$331K	$619K	10x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	93.000	+0.019%	$56K	$266K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.959	−0.024%	$4K	—	10x	as long as short
Kraken Futures PF_WTIOILUSD	+0.0105%	1h	93.012	+0.032%	$273K	$871K	25x	as long as short
BloFin CL-USDTshort	+0.0158%	4h	93.000	+0.019%	$4.1M	$1.1M	50x
GMX WTIOIL/USD [ETH-USDC]	L +0.0209% / S −0.0134%	1h	92.985	+0.003%	$79K	—	111x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	102.10	+9.804%	$19K	$11K	30x	as long as short