Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against Bitget0.000%7-day average −0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$180.176% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 7 days−0.023%−$2 · spread now 0.000%, 7d avg −0.008%

Together, before fees+0.064%+ Points / potential airdropLighter: Season 3 · farm board+$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, 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	Bitget BZUSDT	97.680	0	get 0.0000% / 4h	2h 14m	$28.0M	$16.5M	100x
Short	Lighter BRENTOIL	97.680	0.0032	get 0.0004% / 1h	14m 30s	$3.3M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.72
Price spread: 0.000% → −0.008%: $0.83
Slippage, 4 orders: −$5.59
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.04
Costs to cover: 0.176%
Break-even: 17.5 days

Slippage from Bitget: live order book, 4 min ago; Lighter: live order book, 3 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 Bitget live order book, 4 min ago	0.51 bp	7.2 bp −$7	9.0 bp −$90	25.1 bp −$2,513	40.2 bp −$20.1K
Sell Lighter live order book, 3 min ago	1.02 bp	1.0 bp −$1	1.7 bp −$17	7.1 bp −$714	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	96.939	−0.759%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.154%	$235K	$430K	15x	as long as short
BloFin BZ-USDT	−0.0059%	4h	97.670	−0.010%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.697	+0.017%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.691	+0.011%	$147.8M	$360.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.680	0.000%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.680	0.000%	$16.1M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.648	−0.033%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.690	+0.010%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.630	−0.051%	$9.3M	$11.7M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDTlong	0.0000%	4h	97.680	long leg	$28.0M	$16.5M	100x
Variational Omni BZ	0.0000%	4h	97.609	−0.073%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.640	−0.041%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.670	−0.010%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.650	−0.031%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.092%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.630	−0.051%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	97.605	−0.076%	$225K	$229K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.665	−0.015%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.216	+0.549%	—	—	—	as long as short
Vest BZ-PERP	+0.0015%	1h	101.73	+4.146%	—	$735K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.680	0.000%	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.679	−0.001%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.665	−0.015%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.716	+0.037%	$154.5M	$124.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.726	+0.047%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.620	−0.061%	$3.1M	$999K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0070%	1h	97.639	−0.042%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.690	+0.010%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.630	−0.051%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2761%	1h	97.665	−0.015%	$116K	—	111x	as long as short