I think Cat filters cost no more than that and would have a substantial capacity (something like 2-3 quarts) so they would add oil to the motor. Secondly they have small micron ratings with huge swept area to prevent bypass in diesel engines constantly subjected to dust.
Start with a Cat filter adapter, then you're done. Wait until Cat has a sale, then buy 2-4 of them and you're covered for a couple years.
^^^As a suggestion^^^^^