After costs, if the gap returns to its 7d average, $10k+$6
spread now+0.085%7d average−0.216%fees + slippage, in and out−$24spread needed0.238%
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix WTIOIL | 91.860 | 0.0009 | pay 0.0001% / 1h | 27m 36s | $30K | $256K | 20x |
| Short | Lighter WTI | 91.938 | 0.0032 | get 0.0004% / 1h | 27m 36s | $11.0M | $11.7M | 20x |
Phoenix WTIOIL
Lighter WTIPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $8.49
- Funding while held
- $0.7
- Slippage, 4 orders
- −$16.76
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$14.57
- Spread needed to break even
- 0.238%
Slippage from Phoenix: live order book, 57 min ago; Lighter: live order book, 7 min ago.
Cost of waiting
funding view- Funding /8h
- +0.0023%
- Per $10,000 a day
- +$0.70
- Average in range /8h
- —
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 Phoenix live order book, 57 min ago | 3.23 bp | 10.9 bp −$11 | 21.9 bp −$219 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 7 min ago | 0.87 bp | 0.9 bp −$1 | 1.1 bp −$11 | 6.3 bp −$631 | 28.3 bp −$14.2K |
CL price on every exchange
against the cheapest. Click to use as the short leg.gTrade (Gains Network)91.615cheapestApeX Omni91.700+0.093%Variational Omni91.783+0.184%StandX91.800+0.202%BloFin91.810+0.213%Vest91.850+0.257%QFEX91.860+0.267%
gTrade (Gains Network)
ApeX Omni
Variational Omni
StandX
BloFin
Vest
QFEXPhoenix91.860+0.267%
Gate91.870+0.278%Aevo91.873+0.282%Aftermath Perps91.880+0.289%Ondo Perps91.880+0.289%RISEx91.889+0.299%Polymarket Perps91.889+0.299%GMX91.895+0.306%SoDEX91.898+0.309%Deribit91.900+0.311%Bullet91.901+0.312%Extended91.910+0.322%edgeX91.917+0.330%Kraken Futures91.926+0.340%dYdX91.926+0.340%Paradex91.927+0.340%Bitget91.927+0.341%OKX91.930+0.344%
Gate
Aevo
Ondo Perps
RISEx
Polymarket Perps
GMX
SoDEX
Deribit
Bullet
Extended
Kraken Futures
dYdX
Paradex
Bitget
OKXLighter91.938+0.353%
tradeXYZ91.939+0.354%Pacifica91.943+0.358%Bybit91.946+0.361%Aster91.950+0.366%Coinbase International91.950+0.366%Nado91.950+0.366%KuCoin91.967+0.384%Binance91.970+0.387%Injective92.595+1.070%
tradeXYZ
Pacifica
Bybit
Aster
Coinbase International
Nado
KuCoin
Binance
InjectiveCL on 35 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) WTI/USD | −0.267% | L 0.0000% / S +0.0036% | 1h | $4K | — | 150x | as long as short |
| ApeX Omni CLUSDT | −0.174% | +0.0100% | 1h | $55K | $271K | 50x | as long as short |
| Variational Omni CL | −0.083% | 0.0000% | 4h | $12.4M | $16.9M | — | as long as short |
| StandX CL-USD | −0.065% | +0.0040% | 1h | $726K | $1.6M | 40x | as long as short |
| BloFin CL-USDT | −0.054% | +0.0240% | 4h | $4.3M | $1.4M | 50x | as long as short |
| Vest CL-PERP | −0.011% | +0.0046% | 1h | — | $86K | 10x | as long as short |
| QFEX CL-USD | 0.000% | −0.0015% | 1h | $2.3M | $2.7M | 10x | as long as short |
| Phoenix WTIOILlong | 0.000% | +0.0009% | 1h | $30K | $256K | 20x | |
| Gate CL_USDT | +0.011% | −0.0142% | 8h | $21.3M | $56.2M | 100x | as long as short |
| Aevo WTIOIL-PERP | +0.015% | +0.0104% | 1h | $4K | $49 | 10x | as long as short |
Show all 35 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Aftermath Perps WTIUSD | +0.021% | −0.0088% | 1h | $1K | $37K | 5x | as long as short |
| Ondo Perps WTI-USD.P | +0.022% | +0.0050% | 1h | $3.4M | $4.9M | 20x | as long as short |
| RISEx CL/USDC | +0.031% | 0.0000% | 1h | $3.0M | $1.3M | 20x | as long as short |
| Polymarket Perps WTIOIL-USD | +0.032% | +0.0050% | 1h | $1.7M | $1.5M | 20x | as long as short |
| GMX WTIOIL/USD [ETH-USDC] | +0.038% | L +0.0136% / S +0.0043% | 1h | $77K | — | 111x | as long as short |
| SoDEX CL-USD | +0.041% | +0.0050% | 1h | $2.0M | $28K | 20x | as long as short |
| Deribit WTIOIL_USDC-PERPETUAL | +0.044% | 0.0000% | 1h | $96K | $457K | 15x | as long as short |
| Bullet WTIOIL-USD | +0.045% | 0.0000% | 1h | $18K | $248K | 10x | as long as short |
| Extended WTI-USD | +0.054% | +0.0032% | 1h | $1.9M | $30.3M | 10x | as long as short |
| edgeX CLUSDC | +0.062% | −0.0028% | 4h | $526K | $320K | 30x | as long as short |
| Kraken Futures PF_WTIOILUSD | +0.072% | +0.0058% | 1h | $361K | $1.0M | 25x | as long as short |
| dYdX WTI-USD | +0.072% | 0.0000% | 1h | $5K | $126 | 5x | as long as short |
| Paradex CL-USD-PERP | +0.073% | +0.0040% | 8h | $15K | — | 5x | as long as short |
| Bitget CLUSDT | +0.073% | 0.0000% | 4h | $42.6M | $56.2M | 100x | as long as short |
| OKX CL-USDT-SWAP | +0.076% | 0.0000% | 4h | $44.6M | $94.7M | 50x | as long as short |
| Lighter WTIshort | +0.085% | +0.0032% | 1h | $11.0M | $11.7M | 20x | |
| tradeXYZ xyz:CL | +0.086% | +0.0009% | 1h | $182.8M | $239.3M | 20x | as long as short |
| Pacifica CL | +0.091% | +0.0100% | 1h | $343K | $310K | 10x | as long as short |
| Bybit CLUSDT | +0.094% | 0.0000% | 8h | $23.9M | $80.8M | 150x | as long as short |
| Aster CLUSD1 | +0.098% | −0.0021% | 4h | $24.7M | $60.1M | 20x | as long as short |
| Coinbase International WTIOIL-PERP-INTX | +0.098% | +0.0024% | 1h | $379K | $940K | 15x | as long as short |
| Nado WTI-PERP | +0.098% | −0.0057% | 1h | $817K | $705K | 10x | as long as short |
| KuCoin CLUSDTM | +0.116% | +0.0100% | 4h | $7.4M | $804K | 50x | as long as short |
| Binance CLUSDT | +0.120% | 0.0000% | 4h | $253.1M | $870.5M | 100x | as long as short |
| Injective WTI/USDC PERP | +0.800% | +0.0033% | 1h | $18K | $32K | 30x | as long as short |