Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against Gate+0.052%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 7 days+0.027%+$3 · spread now +0.052%, 7d avg +0.060%

Together, before fees+0.198%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.060%, 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	Gate BZ_USDT	96.870	0	get 0.0000% / 8h	5h 32m	$9.2M	$12.3M	100x
Short	Lighter BRENTOIL	96.920	0.0032	get 0.0004% / 1h	32m 01s	$3.2M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.052%Rate

Funding earned: $6.72
Price spread: +0.052% → +0.060%: −$0.86
Slippage, 4 orders: −$12.15
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$21.29
Costs to cover: 0.271%
Break-even: 29.2 days

Slippage from Gate: live order book, 2 min ago; Lighter: live order book, 6 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 Gate live order book, 2 min ago	0.52 bp	11.8 bp −$12	17.1 bp −$171	26.5 bp −$2,650	37.4 bp −$18.7K
Sell Lighter live order book, 6 min ago	1.03 bp	1.0 bp −$1	1.0 bp −$10	11.1 bp −$1,105	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	96.164	−0.729%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	−0.021%	$233K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.918	+0.050%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.910	+0.041%	$146.7M	$374.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.900	+0.031%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.900	+0.031%	$16.0M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.913	+0.044%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDTlong	0.0000%	8h	96.870	long leg	$9.2M	$12.3M	100x
Bitget BZUSDT	0.0000%	4h	96.910	+0.041%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.786	−0.087%	$9.3M	$7.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.839	−0.032%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.940	+0.072%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	+0.041%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.870	0.000%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.920	+0.052%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	96.809	−0.063%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.465	+0.614%	—	—	—	as long as short
BloFin BZ-USDT	+0.0028%	4h	96.900	+0.031%	$1.5M	$86K	50x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.920	+0.052%	$3.2M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	96.935	+0.068%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.97	+4.232%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.924	+0.056%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.928	+0.060%	$151.9M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.977	+0.110%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.880	+0.010%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	96.930	+0.062%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.980	+0.114%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.870	0.000%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0173%	1h	96.877	+0.007%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0046%	1h	96.915	+0.046%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.928	+0.060%	$83K	$218K	20x	as long as short