You'll probably get advice from some folks to use nothing or dire consequences will result. However, I've been using a white teflon paste pipe sealant made by Permatex/Loctite that has always worked well for me. It comes in a toothpaste sized tube for about $15.
If you use nothing, you will have leaks sometimes on sender installations in old manifolds or heads. I've installed more than a hundred senders with paste sealant and never had a one of them fail to ground electrically. Before I started using the paste in the eighties, I put the senders in bare. About 1 in 10 leaked.