Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.015%

Price spread now: Aster against Lighter+0.009%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$130.131% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.051%−$5 on $10k

Price spread, last 7 days+0.062%+$6 · spread now +0.009%, 7d avg −0.008%

Together, before fees+0.011%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.008%, 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	Lighter BRENTOIL	97.660	0.0032	pay 0.0004% / 1h	15m 24s	$3.3M	$4.7M	20x
Short	Aster BZUSDT	97.669	0	get 0.0000% / 4h	2h 15m	$340K	$930K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now +0.009%Rate

Funding earned: −$6.72
Price spread: +0.009% → −0.008%: $1.71
Slippage, 4 orders: −$5.13
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$18.13
Costs to cover: 0.131%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Aster: live order book, 38 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 Lighter live order book, 7 min ago	0.51 bp	0.5 bp −$1	1.9 bp −$19	12.0 bp −$1,204	doesn't fit
Sell Aster live order book, 38 min ago	2.05 bp	6.1 bp −$6	10.8 bp −$108	84.3 bp −$8,426	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	96.939	−0.738%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.133%	$235K	$430K	15x	as long as short
BloFin BZ-USDT	−0.0044%	4h	97.600	−0.061%	$1.5M	$95K	50x	as long as short
Aster BZUSDTshort	0.0000%	4h	97.669	+0.009%	$340K	$930K	50x
Binance BZUSDT	0.0000%	4h	97.660	0.000%	$147.7M	$361.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.660	0.000%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.650	−0.010%	$16.1M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.626	−0.035%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.680	+0.020%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.630	−0.031%	$9.3M	$11.7M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.650	−0.010%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.609	−0.052%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.640	−0.021%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	−0.010%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.610	−0.051%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.072%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.600	−0.061%	$1.2M	$81K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	97.605	−0.056%	$225K	$229K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.619	−0.042%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.216	+0.569%	—	—	—	as long as short
Vest BZ-PERP	+0.0015%	1h	101.71	+4.147%	—	$735K	10x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	97.660	long leg	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.654	−0.006%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.655	−0.006%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.688	+0.029%	$154.4M	$124.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.698	+0.039%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.580	−0.082%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0070%	1h	97.639	−0.021%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.670	+0.010%	$3.8M	$833K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.630	−0.031%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2761%	1h	97.665	+0.005%	$116K	—	111x	as long as short