Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0070%/8h= −7.6% APRpaid last 24h −0.016%

Price spread now: BloFin against Lighter−0.062%60s7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$160.163% of the position

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.050%−$5 on $10k

Price spread, last 4 days (all we have)−0.333%−$33 · spread now −0.062%, 7d avg −0.065%

Together, before fees−0.383%+ Points / potential airdropLighter: Season 3 · farm board−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.065%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	97.110	0.0032	pay 0.0004% / 1h	6m 11s	$3.3M	$4.7M	20x
Short	BloFin BZ-USDT	97.050	−0.0038	pay 0.0019% / 4h	1h 06m	$1.5M	$91K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.062%Rate

Funding earned: −$14.6
Price spread: −0.062% → −0.065%: $0.35
Slippage, 4 orders: −$4.3
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$30.55
Costs to cover: 0.163%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; BloFin: live order book, 1 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	2.2 bp −$22	8.9 bp −$888	doesn't fit
Sell BloFin live order book, 1 min ago	0.51 bp	8.5 bp −$8	9.7 bp −$97	19.8 bp −$1,984	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	96.141	−0.998%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.124%	$234K	$433K	15x	as long as short
BloFin BZ-USDTshort	−0.0038%	4h	97.050	−0.062%	$1.5M	$91K	50x
Aster BZUSDT	0.0000%	4h	97.092	−0.018%	$337K	$969K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.116	+0.007%	$146.9M	$372.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.090	−0.021%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.090	−0.021%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.091	−0.020%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.100	−0.010%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.040	−0.072%	$9.2M	$12.4M	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	97.110	0.000%	$27.5M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.976	−0.138%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.972	−0.142%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.120	+0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.110	0.000%	$104K	$247K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.980	−0.134%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.110	0.000%	$1.2M	$86K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.654	+0.560%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.970	−0.144%	$222K	$227K	20x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	97.110	long leg	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.118	+0.008%	$675K	$4.7M	10x	as long as short
Vest BZ-PERP	+0.0039%	1h	101.16	+4.171%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.096	−0.015%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.117	+0.007%	$152.2M	$125.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.150	+0.041%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.030	−0.082%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.130	+0.021%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.020	−0.093%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0120%	1h	97.022	−0.090%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0186% / S +0.0024%	1h	97.105	−0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.121	+0.011%	$84K	$218K	20x	as long as short