BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0152%/8h= +16.6% APRnext payment +$0.19 per $10,000 · paid last 24h +0.030%

Price spread now: Lighter against Coinbase International−0.073%7-day average +0.170% · you buy dearer than you sell

Net, funding: paid 7d − costs+$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$150.146% of the position

Long on Coinbase International Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.280%+$28 on $10k

Price spread, last 3 days (all we have)+0.296%+$30 · spread now −0.073%, 7d avg +0.170%

Together, before fees+0.575%+ Points / potential airdropLighter: Season 3 · farm board+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.243% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.073% now, against its 7-day average of +0.170%). If the spread goes back, that is −$24 on $10k: about 5.3 days of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	96.050	−0.0112	get 0.0014% / 1h	6m 28s	$232K	$859K	15x
Short	Lighter BRENTOIL	95.980	0.0040	get 0.0005% / 1h	6m 28s	$3.3M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Coinbase International. 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 Coinbase InternationalbpFee LighterbpOrdersPrice spread, now −0.073%Rate

Funding earned: $31.92
Price spread: −0.073% → +0.170%: −$24.32
Slippage, 4 orders: −$4.61
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.02
Costs to cover: 0.146%
Break-even: 8.5 days

Slippage from Coinbase International: live order book, 17 min ago; Lighter: live order book, 11 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 Coinbase International live order book, 17 min ago	1.56 bp	6.7 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit
Sell Lighter live order book, 11 min ago	0.52 bp	0.5 bp −$1	1.0 bp −$10	26.8 bp −$2,677	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0759% / S +0.0474%	1h	95.975	−0.078%	$114K	—	29x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.923	−0.132%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0112%	1h	96.050	long leg	$232K	$859K	15x
Paradex BZ-USD-PERP	−0.0006%	8h	95.960	−0.094%	$3K	$521	5x	as long as short
BloFin BZ-USDT	−0.0003%	4h	95.890	−0.167%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.948	−0.107%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.970	−0.083%	$145.7M	$491.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.960	−0.094%	$10.2M	$17.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.950	−0.104%	$15.8M	$29.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.970	−0.083%	$2.2M	$1.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.930	−0.125%	$9.2M	$19.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.960	−0.094%	$27.5M	$24.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	−0.143%	$9.5M	$10.6M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.894	−0.162%	$34K	$396K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.930	−0.125%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.980	−0.073%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.870	−0.187%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.950	−0.104%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	95.895	−0.161%	$219K	$233K	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.984	−0.068%	$669K	$5.2M	10x	as long as short
Lighter BRENTOILshort	+0.0040%	1h	95.980	−0.073%	$3.3M	$4.5M	20x
Vest BZ-PERP	+0.0046%	1h	100.05	+4.164%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.999	−0.053%	$148.0M	$148.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.999	−0.053%	$1.5M	$540K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.880	−0.177%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.870	−0.187%	$3.8M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.890	−0.167%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	95.947	−0.107%	$81K	$258K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0192%	1h	95.990	−0.062%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0212%	1h	95.890	−0.166%	$6K	$45K	5x	as long as short