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: Bitget against Lighter0.000%7-day average +0.009% · you sell dearer than you buy

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$170.171% of the position

Long on Lighter Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 7 days+0.028%+$3 · spread now 0.000%, 7d avg +0.009%

Together, before fees−0.060%+ Points / potential airdropLighter: Season 3 · farm board−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.009%, 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	96.800	0.0032	pay 0.0004% / 1h	36m 21s	$3.2M	$4.6M	20x
Short	Bitget BZUSDT	96.800	0	get 0.0000% / 4h	1h 36m	$27.4M	$16.4M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$6.72
Price spread: 0.000% → +0.009%: −$0.89
Slippage, 4 orders: −$5.06
Fee Lighter: 0 bp × 2 orders: $0
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$24.67
Costs to cover: 0.171%
Break-even: never at this rate

Slippage from Lighter: live order book, 11 min ago; Bitget: live order book, 2 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, 11 min ago	0.52 bp	1.3 bp −$1	1.5 bp −$15	8.3 bp −$835	doesn't fit
Sell Bitget live order book, 2 min ago	1.03 bp	7.7 bp −$8	9.5 bp −$95	25.1 bp −$2,513	56.8 bp −$28.4K

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	−0.657%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	+0.052%	$233K	$426K	15x	as long as short
BloFin BZ-USDT	−0.0053%	4h	96.820	+0.021%	$1.5M	$86K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.840	+0.041%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.802	+0.002%	$146.6M	$374.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.790	−0.010%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.790	−0.010%	$15.9M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.794	−0.006%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.041%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDTshort	0.0000%	4h	96.800	0.000%	$27.4M	$16.4M	100x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.846	+0.048%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.828	+0.029%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.840	+0.041%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.820	+0.021%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.840	+0.041%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.810	+0.010%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	96.838	+0.039%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.360	+0.578%	—	—	—	as long as short
Lighter BRENTOILlong	+0.0032%	1h	96.800	long leg	$3.2M	$4.6M	20x
Extended XBR-USD	+0.0032%	1h	96.818	+0.019%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.86	+4.194%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.797	−0.003%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.829	+0.030%	$151.7M	$125.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.856	+0.058%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.770	−0.031%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.860	+0.062%	$3.8M	$873K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.820	+0.021%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0050%	1h	96.805	+0.005%	$126K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	96.860	+0.062%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0186%	1h	96.869	+0.071%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0299%	1h	96.841	+0.043%	$83K	$218K	20x	as long as short