Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.017%

Price spread now: Lighter against KuCoin−0.051%7-day average −0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$190.195% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 7 days+0.069%+$7 · spread now −0.051%, 7d avg −0.007%

Together, before fees−0.058%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Lighter is 0.044% cheaper against KuCoin than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.007%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	97.380	0.0100	pay 0.0050% / 4h	3h 18m	$3.8M	$852K	50x
Short	Lighter BRENTOIL	97.330	0.0032	get 0.0004% / 1h	18m 54s	$3.2M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. 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 KuCoinbpFee LighterbpOrdersPrice spread, now −0.051%Rate

Funding earned: −$14.28
Price spread: −0.051% → −0.007%: −$4.44
Slippage, 4 orders: −$7.49
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$38.22
Costs to cover: 0.195%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Lighter: live order book, 4 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 KuCoin live order book, 4 min ago	0.51 bp	6.5 bp −$7	35.3 bp −$353	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.51 bp	0.5 bp −$1	1.0 bp −$10	6.7 bp −$668	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	96.628	−0.772%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.113%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.360	−0.021%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.361	−0.020%	$147.3M	$367.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.350	−0.031%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.360	−0.021%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.306	−0.076%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.310	−0.072%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	−0.021%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.278	−0.105%	$9.3M	$6.9M	—	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	97.297	−0.086%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.330	−0.051%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.330	−0.051%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.290	−0.092%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.470	+0.092%	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.865	+0.498%	—	—	—	as long as short
BloFin BZ-USDT	+0.0014%	4h	97.300	−0.082%	$1.5M	$91K	50x	as long as short
edgeX BZUSDC	+0.0018%	4h	97.273	−0.110%	$223K	$227K	20x	as long as short
Vest BZ-PERP	+0.0026%	1h	101.38	+4.108%	—	$735K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.330	−0.051%	$3.2M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.365	−0.016%	$680K	$4.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.324	−0.058%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.391	+0.011%	$153.8M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.352	−0.029%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.250	−0.133%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.339	−0.042%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0097%	1h	97.334	−0.047%	$7K	$43K	5x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	97.380	long leg	$3.8M	$852K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.340	−0.041%	$26K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	97.320	−0.062%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0261% / S −0.1491%	1h	97.315	−0.067%	$115K	—	111x	as long as short