BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0272%/8h= −29.8% APRnext payment −$0.34 per $10,000 · paid last 24h +0.011%

Price spread now: Lighter against Extended+0.199%7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs+$8as in the Price arb table

costs, in and out, $10k−$100.102% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.061%+$6 on $10k

Price spread, last 7 days−0.224%−$22 · spread now +0.199%, 7d avg +0.021%

Together, before fees−0.163%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.178% dearer against Extended than usual: you sell high and buy low (spread +0.199% now, against its 7-day average of +0.021%): +$18 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 2.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.061%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.061% in total (about 3.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.34 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	96.099	0.0592	pay 0.0074% / 1h	24m 50s	$670K	$5.2M	10x
Short	Lighter BRENTOIL	96.290	0.0320	get 0.0040% / 1h	24m 50s	$3.3M	$4.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now +0.199%Rate

Funding earned: −$57.12
Price spread: +0.199% → +0.021%: $17.8
Slippage, 4 orders: −$5.18
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$49.5
Costs to cover: 0.102%
Break-even: from the start

Slippage from Extended: 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 Extended live order book, 4 min ago	0.99 bp	3.7 bp −$4	21.6 bp −$216	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	1.04 bp	1.0 bp −$1	2.0 bp −$20	11.3 bp −$1,131	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 −0.0848% / S +0.0467%	1h	96.255	+0.162%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.348	−0.782%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0176%	1h	96.340	+0.251%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0061%	1h	96.290	+0.199%	$103K	$275K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.030%	$232K	$570K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.260	+0.167%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.259	+0.166%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.256	+0.164%	$145.9M	$456.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.280	+0.188%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.250	+0.157%	$15.8M	$26.7M	50x	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	96.220	+0.126%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.270	+0.178%	$27.4M	$20.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.254	+0.161%	$9.3M	$7.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.259	+0.167%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.280	+0.188%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.230	+0.136%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.360	+0.271%	$1.2M	$96K	100x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.286	+0.194%	$221K	$232K	20x	as long as short
Paradex BZ-USD-PERP	+0.0023%	8h	96.255	+0.162%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0034%	4h	96.280	+0.188%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.870	+3.924%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.321	+0.231%	$151.2M	$144.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.328	+0.238%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0065%	1h	96.362	+0.273%	$6K	$45K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.200	+0.105%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.280	+0.188%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.322	+0.232%	$82K	$233K	20x	as long as short
Lighter BRENTOILshort	+0.0320%	1h	96.290	+0.199%	$3.3M	$4.3M	20x
Ondo Perps BRENT-USD.P	+0.0369%	1h	96.240	+0.147%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USDlong	+0.0592%	1h	96.099	long leg	$670K	$5.2M	10x