Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.013%

Price spread now: Binance against Lighter+0.037%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$17as in the Funding arb table

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

costs, in and out, $10k−$130.127% of the position

Long on Lighter Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 7 days−0.011%−$1 · spread now +0.037%, 7d avg +0.016%

Together, before fees−0.050%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Binance is 0.022% dearer against Lighter than usual: you sell high and buy low (spread +0.037% now, against its 7-day average of +0.016%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	94.410	0.0032	pay 0.0004% / 1h	8m 26s	$3.5M	$5.9M	20x
Short	Binance BZUSDT	94.445	0	get 0.0000% / 4h	8m 26s	$145.6M	$485.9M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now +0.037%Rate

Funding earned: −$6.72
Price spread: +0.037% → +0.016%: $2.16
Slippage, 4 orders: −$2.71
Fee Lighter: 0 bp × 2 orders: $0
Fee Binance: 5 bp × 2 orders: −$10
Net: −$17.27
Costs to cover: 0.127%
Break-even: never at this rate

Slippage from Lighter: live order book, 8 min ago; Binance: live order book, 13 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, 8 min ago	0.53 bp	0.5 bp −$1	1.5 bp −$15	9.8 bp −$981	doesn't fit
Sell Binance live order book, 13 min ago	0.53 bp	5.5 bp −$6	5.8 bp −$58	10.8 bp −$1,082	45.9 bp −$23.0K

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.340	−0.074%	$33K	—	20x	as long as short
RISEx BZ/USDC	−0.0384%	1h	94.409	−0.002%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0337%	1h	94.375	−0.037%	$109K	$281K	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0174%	1h	94.350	−0.064%	$29K	$373K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.320	−0.095%	$248K	$1.3M	15x	as long as short
Bybit BZUSDT	−0.0040%	8h	94.430	+0.021%	$10.4M	$18.9M	100x	as long as short
BloFin BZ-USDT	−0.0018%	4h	94.350	−0.064%	$1.5M	$126K	50x	as long as short
Aster BZUSDT	0.0000%	4h	94.483	+0.077%	$331K	$684K	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	94.445	+0.037%	$145.6M	$485.9M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	94.410	0.000%	$15.7M	$30.7M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	94.390	−0.021%	$8.8M	$14.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.430	+0.021%	$27.5M	$31.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.339	−0.075%	$8.9M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	94.381	−0.031%	$11K	$316K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.370	−0.042%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.290	−0.127%	$254K	$338K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.720	+0.328%	$1.2M	$102K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	94.431	+0.022%	$217K	$230K	20x	as long as short
Vest BZ-PERP	+0.0008%	1h	98.090	+3.898%	—	$736K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.912	+0.532%	—	—	—	as long as short
Lighter BRENTOILlong	+0.0032%	1h	94.410	long leg	$3.5M	$5.9M	20x
Extended XBR-USD	+0.0032%	1h	94.438	+0.030%	$758K	$4.1M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0033%	1h	94.425	+0.016%	$7K	$37K	5x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.451%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0043%	8h	94.418	+0.008%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.441	+0.033%	$143.0M	$191.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.405	−0.005%	$1.5M	$570K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.340	−0.074%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0076%	4h	94.380	−0.032%	$3.3M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.350	−0.064%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0174% / S −0.0560%	1h	94.375	−0.037%	$27K	—	111x	as long as short