BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0168%/8h= −18.4% APRnext payment −$0.21 per $10,000 · paid last 24h −0.035%

Price spread now: Coinbase International against Lighter−0.145%7-day average −0.165% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$140.143% of the position

Long on Lighter Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.293%−$29 on $10k

Price spread, last 3 days (all we have)+0.077%+$8 · spread now −0.145%, 7d avg −0.165%

Together, before fees−0.216%+ Points / potential airdropLighter: Season 3 · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.021% dearer against Lighter than usual: you sell high and buy low (spread −0.145% now, against its 7-day average of −0.165%): +$2 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	96.790	0.0032	pay 0.0004% / 1h	42m 59s	$3.3M	$4.4M	20x
Short	Coinbase International BRENTOIL-PERP-INTX	96.650	−0.0136	pay 0.0017% / 1h	42m 59s	$234K	$421K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.145%Rate

Funding earned: −$35.28
Price spread: −0.145% → −0.165%: $2.08
Slippage, 4 orders: −$4.32
Fee Lighter: 0 bp × 2 orders: $0
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$47.52
Costs to cover: 0.143%
Break-even: never at this rate

Slippage from Lighter: live order book, 10 min ago; Coinbase International: live order book, 25 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, 10 min ago	0.52 bp	0.5 bp −$1	1.5 bp −$15	8.7 bp −$869	doesn't fit
Sell Coinbase International live order book, 25 min ago	1.55 bp	6.6 bp −$7	8.8 bp −$88	doesn't fit	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	95.962	−0.855%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0136%	1h	96.650	−0.145%	$234K	$421K	15x
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.031%	$1.5M	$90K	50x	as long as short
Hotstuff BRENTOIL-PERP	−0.0040%	1h	96.830	+0.041%	$33K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.788	−0.003%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.787	−0.004%	$146.2M	$390.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.760	−0.031%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.790	0.000%	$15.9M	$23.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.810	+0.021%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.031%	$9.2M	$12.7M	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	96.790	0.000%	$27.8M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.780	−0.010%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.800	+0.010%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.830	+0.041%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.820	+0.031%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.900	+0.114%	$308K	$284K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.790	0.000%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	96.793	+0.003%	$222K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.326	+0.554%	—	—	—	as long as short
Lighter BRENTOILlong	+0.0032%	1h	96.790	long leg	$3.3M	$4.4M	20x
Extended XBR-USD	+0.0032%	1h	96.794	+0.005%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.83	+4.174%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.804	+0.015%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.789	−0.001%	$151.6M	$132.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.876	+0.089%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.800	+0.010%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.830	+0.041%	$3.8M	$894K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	−0.021%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0204% / S +0.0107%	1h	96.805	+0.015%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.811	+0.022%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0279%	1h	96.842	+0.054%	$7K	$44K	5x	as long as short