Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.015%

Price spread now: Lighter against Aster−0.032%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$150.154% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 7 days+0.020%+$2 · spread now −0.032%, 7d avg +0.008%

Together, before fees+0.071%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.040% cheaper against Aster than usual: you would sell low and buy high (spread −0.032% now, against its 7-day average of +0.008%). If the spread goes back, that is −$4 on $10k: about 4.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BZUSDT	97.321	0	get 0.0000% / 4h	3h 52m	$338K	$860K	50x
Short	Lighter BRENTOIL	97.290	0.0032	get 0.0004% / 1h	52m 49s	$3.3M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.032%Rate

Funding earned: $6.72
Price spread: −0.032% → +0.008%: −$3.99
Slippage, 4 orders: −$7.36
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.63
Costs to cover: 0.154%
Break-even: 20.2 days

Slippage from Aster: live order book, 50 min ago; Lighter: live order book, 5 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 Aster live order book, 50 min ago	2.05 bp	6.1 bp −$6	6.7 bp −$67	96.7 bp −$9,670	doesn't fit
Sell Lighter live order book, 5 min ago	1.54 bp	1.5 bp −$2	2.0 bp −$20	12.1 bp −$1,209	doesn't fit

BZ on 31 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
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−1.006%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0161%	1h	97.290	−0.032%	$100K	$258K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0116%	4h	97.241	−0.082%	$14K	$332K	25x	as long as short
Ondo Perps BRENT-USD.P	−0.0073%	1h	97.140	−0.186%	$3.1M	$990K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.164%	$237K	$402K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.200	−0.125%	$2.4M	$1.7M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.255	−0.068%	$82K	$200K	20x	as long as short
Aster BZUSDTlong	0.0000%	4h	97.321	long leg	$338K	$860K	50x
Binance BZUSDT	0.0000%	4h	97.270	−0.052%	$148.4M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.260	−0.063%	$10.3M	$13.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	97.240	−0.083%	$16.1M	$19.8M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.230	−0.093%	$9.2M	$10.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.270	−0.052%	$28.0M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.279	−0.043%	$9.4M	$6.2M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.220	−0.104%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.270	−0.052%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.390	+0.071%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	97.240	−0.083%	$223K	$229K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.23	+4.017%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.767	+0.458%	—	—	—	as long as short
BloFin BZ-USDT	+0.0022%	4h	97.240	−0.083%	$1.5M	$99K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	97.220	−0.104%	$33K	—	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.290	−0.032%	$3.3M	$4.0M	20x
Extended XBR-USD	+0.0032%	1h	97.291	−0.031%	$747K	$2.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.212	−0.112%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.280	−0.042%	$155.3M	$115.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.240	−0.083%	$1.6M	$395K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0079%	1h	97.335	+0.015%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.250	−0.073%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.200	−0.124%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.285	−0.037%	$115K	—	111x	as long as short