Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.013%

Price spread now: Lighter against Binance−0.003%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$130.131% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days−0.018%−$2 · spread now −0.003%, 7d avg −0.017%

Together, before fees+0.021%+ Points / potential airdropLighter: Season 3 · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.017%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	97.233	0	get 0.0000% / 4h	24m 07s	$147.1M	$370.2M	100x
Short	Lighter BRENTOIL	97.230	0.0032	get 0.0004% / 1h	24m 07s	$3.3M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.003%Rate

Funding earned: $6.72
Price spread: −0.003% → −0.017%: $1.32
Slippage, 4 orders: −$3.08
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$5.05
Costs to cover: 0.131%
Break-even: 12.3 days

Slippage from Binance: live order book, 5 min ago; Lighter: live order book, 4 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 Binance live order book, 5 min ago	0.51 bp	5.5 bp −$6	6.6 bp −$66	7.8 bp −$779	39.5 bp −$19.7K
Sell Lighter live order book, 4 min ago	1.03 bp	1.0 bp −$1	1.1 bp −$11	6.1 bp −$611	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	96.571	−0.681%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.007%	$234K	$437K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0008%	1h	97.240	+0.007%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.220	−0.014%	$338K	$954K	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	97.233	long leg	$147.1M	$370.2M	100x
Bybit BZUSDT	0.0000%	8h	97.220	−0.014%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.210	−0.024%	$16.1M	$20.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.196	−0.038%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.160	−0.075%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.220	−0.014%	$27.6M	$16.5M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.167	−0.068%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.210	−0.024%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.230	−0.003%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.230	−0.003%	$104K	$232K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.160	−0.075%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.330	+0.099%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.764	+0.546%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	97.193	−0.041%	$223K	$227K	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.230	−0.003%	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.218	−0.016%	$680K	$4.4M	10x	as long as short
Vest BZ-PERP	+0.0032%	1h	101.24	+4.121%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0049%	4h	97.190	−0.045%	$1.5M	$92K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.205	−0.029%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.279	+0.047%	$153.4M	$125.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.259	+0.026%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.150	−0.086%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.250	+0.017%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.240	+0.007%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.281	+0.049%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.213	−0.021%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0201% / S −0.0074%	1h	97.205	−0.029%	$126K	—	111x	as long as short