BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0175%/8h= −19.1% APRnext payment −$0.22 per $10,000 · paid last 24h +0.018%

Price spread now: Lighter against GMX+0.026%7-day average +0.058% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on GMX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now +0.026%, 7d avg +0.058%

Together, before fees+0.193%+ Points / potential airdropLighter: Season 3 · farm board+$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Lighter is 0.033% cheaper against GMX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.058%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.077%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRENTOIL/USD [ETH-USDC]	97.165	L +0.0207% / S −0.0109%	pay 0.0026% / 1h	18m 01s	$126K	—	111x
Short	Lighter BRENTOIL	97.190	0.0032	get 0.0004% / 1h	18m 01s	$3.3M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against GMX. 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 GMXbpFee LighterbpOrdersPrice spread, now +0.026%Rate

Funding earned: −$36.7
Price spread: +0.026% → +0.058%: −$3.26
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$51.96
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Lighter: live order book, 5 min ago. Net counts fees only.

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 GMX no order-book sample	—	—	—	—	—
Sell Lighter live order book, 5 min ago	0.51 bp	0.5 bp −$1	0.6 bp −$6	7.7 bp −$772	doesn't fit

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.571	−0.611%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.077%	$234K	$436K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0016%	1h	97.230	+0.067%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.206	+0.042%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.172	+0.007%	$147.1M	$369.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.170	+0.005%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.170	+0.005%	$16.1M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.167	+0.002%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.120	−0.046%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.190	+0.026%	$27.6M	$16.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.177	+0.012%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.210	+0.046%	$29K	$361K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.180	+0.015%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.180	+0.015%	$104K	$232K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.120	−0.046%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.330	+0.170%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.189	+0.024%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.720	+0.571%	—	—	—	as long as short
Vest BZ-PERP	+0.0032%	1h	101.20	+4.153%	—	$735K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.190	+0.026%	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.175	+0.010%	$680K	$4.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.175	+0.010%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.222	+0.059%	$153.5M	$127.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.228	+0.065%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.120	−0.046%	$3.1M	$1.1M	15x	as long as short
BloFin BZ-USDT	+0.0054%	4h	97.170	+0.005%	$1.5M	$91K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.220	+0.057%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.210	+0.046%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0116%	1h	97.242	+0.079%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.205	+0.041%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]long	L +0.0207% / S −0.0109%	1h	97.165	long leg	$126K	—	111x