BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0056%/8h= +6.1% APRnext payment +$0.07 per $10,000 · paid last 24h +0.037%

Price spread now: Lighter against Deribit+0.021%7-day average +0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$160.163% of the position

Long on Deribit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.365%+$36 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now +0.021%, 7d avg +0.051%

Together, before fees+0.407%+ Points / potential airdropLighter: Season 3 · farm board+$41 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.030% cheaper against Deribit than usual: you would sell low and buy high (spread +0.021% now, against its 7-day average of +0.051%). If the spread goes back, that is −$3 on $10k: about 44 hours of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.365% in total) that is about 7 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.210	0	get 0.0000% / 1h	54m 39s	$103K	$272K	15x
Short	Lighter BRENTOIL	96.230	0.0056	get 0.0007% / 1h	54m 39s	$3.4M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Deribit. 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 DeribitbpFee LighterbpOrdersPrice spread, now +0.021%Rate

Funding earned: $11.76
Price spread: +0.021% → +0.051%: −$3.05
Slippage, 4 orders: −$9.28
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.56
Costs to cover: 0.163%
Break-even: 11.5 days

Slippage from Deribit: live order book, 19 min ago; Lighter: live order book, 13 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 Deribit live order book, 19 min ago	0.52 bp	4.0 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell Lighter live order book, 13 min ago	0.52 bp	0.5 bp −$1	2.2 bp −$22	11.9 bp −$1,190	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.195	−0.016%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.728%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.146%	$232K	$483K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0066%	4h	96.139	−0.074%	$34K	$365K	25x	as long as short
BloFin BZ-USDT	−0.0005%	4h	96.170	−0.042%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	0.000%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.223	+0.014%	$145.8M	$439.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.210	0.000%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.170	−0.042%	$15.8M	$25.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.213	+0.003%	$2.2M	$1.3M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.150	−0.062%	$9.2M	$14.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.230	+0.021%	$27.6M	$20.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.142	−0.071%	$9.3M	$7.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.210	0.000%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.210	long leg	$103K	$272K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.230	+0.021%	$306K	$229K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.350	+0.146%	$1.2M	$95K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.747	+0.558%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.166	−0.046%	$220K	$232K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.229	+0.020%	$83K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0037%	8h	96.204	−0.006%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.30	+4.251%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.250	+0.042%	$151.1M	$143.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.271	+0.063%	$1.5M	$502K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.150	−0.062%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOILshort	+0.0056%	1h	96.230	+0.021%	$3.4M	$4.2M	20x
KuCoin BZUSDTM	+0.0100%	4h	96.240	+0.031%	$3.8M	$989K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.100	−0.114%	$25K	$272K	50x	as long as short
Extended XBR-USD	+0.0120%	1h	96.212	+0.002%	$762K	$5.3M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0144%	1h	96.250	+0.042%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0633%	1h	96.114	−0.100%	$6K	$44K	5x	as long as short