CL

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0136%/8h= −14.9% APRnext payment −$0.17 per $10,000 · paid last 24h −0.020%

Price spread now: Kraken Futures against Lighter+0.011%7-day average +0.163% · you sell dearer than you buy

Net, funding: paid 7d − costs−$167as in the Funding arb table

Net, price: spread back to 7d avg − costs−$37as in the Price arb table

costs, in and out, $10k−$220.219% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−1.452%−$145 on $10k

Price spread, last 3 days (all we have)−0.049%−$5 · spread now +0.011%, 7d avg +0.163%

Together, before fees−1.501%+ Points / potential airdropLighter: Season 3 · farm board−$150 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.153% cheaper against Lighter than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of +0.163%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WTI	92.619	0.0016	pay 0.0002% / 1h	22m 52s	$11.2M	$10.1M	20x
Short	Kraken Futures PF_WTIOILUSD	92.629	−0.0120	pay 0.0015% / 1h	22m 52s	$274K	$1.1M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.011%Rate

Funding earned: −$28.48
Price spread: +0.011% → +0.163%: −$15.27
Slippage, 4 orders: −$11.94
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$65.69
Costs to cover: 0.219%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 1 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, 6 min ago	0.27 bp	0.5 bp $0	0.6 bp −$6	5.9 bp −$586	26.5 bp −$13.3K
Sell Kraken Futures live order book, 1 min ago	4.10 bp	10.4 bp −$10	24.0 bp −$240	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
Deribit WTIOIL_USDC-PERPETUAL	−0.0398%	1h	92.600	−0.021%	$123K	$275K	15x	as long as short
GRVT CL_USDT_Perp	−0.0346%	4h	92.524	−0.102%	$58K	$693K	25x	as long as short
Aster CLUSD1	−0.0333%	4h	92.629	+0.010%	$24.0M	$78.4M	20x	as long as short
Binance CLUSDT	−0.0273%	4h	92.620	+0.001%	$245.3M	$1.06B	100x	as long as short
Variational Omni CL	−0.0265%	4h	92.480	−0.150%	$13.1M	$12.2M	—	as long as short
Gate CL_USDT	−0.0209%	8h	92.550	−0.074%	$21.3M	$55.2M	100x	as long as short
Kraken Futures PF_WTIOILUSDshort	−0.0120%	1h	92.629	+0.011%	$274K	$1.1M	25x
Nado WTI-PERP	−0.0064%	1h	92.638	+0.020%	$933K	$732K	10x	as long as short
Ondo Perps WTI-USD.P	−0.0048%	1h	92.530	−0.096%	$3.5M	$6.1M	20x	as long as short
Coinbase International WTIOIL-PERP-INTX	−0.0040%	1h	92.030	−0.636%	$399K	$959K	15x	as long as short

Show all 36 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
QFEX CL-USD	−0.0040%	1h	92.570	−0.053%	$2.4M	$2.1M	10x	as long as short
tradeXYZ xyz:CL	−0.0025%	1h	92.616	−0.003%	$186.7M	$235.9M	20x	as long as short
Paradex CL-USD-PERP	−0.0004%	8h	92.567	−0.056%	$15K	$367	5x	as long as short
dYdX WTI-USD	0.0000%	1h	92.657	+0.041%	$8K	$3K	5x	as long as short
Bybit CLUSDT	0.0000%	8h	92.639	+0.022%	$26.4M	$92.1M	150x	as long as short
OKX CL-USDT-SWAP	0.0000%	4h	92.610	−0.010%	$43.0M	$111.4M	50x	as long as short
RISEx CL/USDC	0.0000%	1h	92.712	+0.100%	$3.3M	$2.8M	20x	as long as short
Bitget CLUSDT	0.0000%	4h	92.612	−0.008%	$42.1M	$50.7M	100x	as long as short
Phoenix WTIOIL	0.0000%	1h	92.600	−0.021%	$37K	$66K	20x	as long as short
Bullet WTIOIL-USD	0.0000%	1h	92.600	−0.021%	$19K	$240K	10x	as long as short
gTrade (Gains Network) WTI/USD	L 0.0000% / S +0.0036%	1h	92.173	−0.482%	$5K	—	150x	as long as short
Lighter WTIlong	+0.0016%	1h	92.619	long leg	$11.2M	$10.1M	20x
Extended WTI-USD	+0.0032%	1h	92.670	+0.055%	$2.3M	$26.7M	10x	as long as short
StandX CL-USD	+0.0040%	1h	92.400	−0.236%	$723K	$3.1M	40x	as long as short
edgeX CLUSDC	+0.0041%	4h	92.545	−0.080%	$532K	$299K	30x	as long as short
Vest CL-PERP	+0.0046%	1h	92.610	−0.010%	—	$310K	10x	as long as short
Polymarket Perps WTIOIL-USD	+0.0050%	1h	92.593	−0.028%	$1.6M	$1.4M	20x	as long as short
SoDEX CL-USD	+0.0050%	1h	92.618	−0.001%	$2.0M	$39K	20x	as long as short
Pacifica CL	+0.0100%	1h	92.589	−0.033%	$356K	$603K	10x	as long as short
KuCoin CLUSDTM	+0.0100%	4h	92.637	+0.019%	$7.2M	$2.4M	50x	as long as short
ApeX Omni CLUSDT	+0.0100%	1h	92.560	−0.064%	$56K	$265K	50x	as long as short
Aevo WTIOIL-PERP	+0.0104%	1h	92.580	−0.043%	$4K	—	10x	as long as short
GMX WTIOIL/USD [ETH-USDC]	L +0.0206% / S −0.0131%	1h	92.615	−0.004%	$78K	—	111x	as long as short
Aftermath Perps WTIUSD	+0.0217%	1h	92.542	−0.083%	$2K	$28K	5x	as long as short
Injective WTI/USDC PERP	+0.0220%	1h	101.56	+9.649%	$19K	$11K	30x	as long as short
BloFin CL-USDT	+0.0240%	4h	92.510	−0.118%	$4.0M	$1.4M	50x	as long as short