Funding you earn now, next payment 06:00 UTC−0.0032%/8h= −3.5% APRnext payment −$0.04 per $10,000 · paid last 24h −0.025%
Price spread now: Deribit against Lighter0.000%7-day average −0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$11as in the Price arb table
costs, in and out, $10k−$150.152% of the position
Funding, last 4 days (all we have)−0.372%−$37 on $10k
+Price spread, last 4 days (all we have)−0.063%−$6 · spread now 0.000%, 7d avg −0.045%
=Together, before fees−0.435%+ Points / potential airdropLighter: Season 3 · farm board−$43 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Deribit is 0.045% dearer against Lighter than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.045%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.7 days. At the pace of the last 4 days (−0.372% in total) that is about 11 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter BRENTOIL | 97.510 | 0.0032 | pay 0.0004% / 1h | 31m 28s | $3.2M | $4.6M | 20x |
| Short | Deribit BRENTOIL_USDC-PERPETUAL | 97.510 | 0 | get 0.0000% / 1h | 31m 28s | $101K | $249K | 15x |
Lighter BRENTOIL
Deribit BRENTOIL_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Lighter. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$6.72
- Price spread: 0.000% → −0.045%
- $4.52
- Slippage, 4 orders
- −$8.15
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$17.35
- Costs to cover
- 0.152%
- Break-even
- never at this rate
Slippage from Lighter: live order book, 6 min ago; Deribit: live order book, 17 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, 6 min ago | 1.02 bp | 1.0 bp −$1 | 1.0 bp −$10 | 8.9 bp −$888 | doesn't fit |
| Sell Deribit live order book, 17 min ago | 0.51 bp | 4.0 bp −$4 | 5.5 bp −$55 | 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 | 96.783 | −0.746% | $8K | $7K | 30x | as long as short |
| Coinbase International BRENTOIL-PERP-INTX | −0.0096% | 1h | 97.530 | +0.021% | $235K | $434K | 15x | as long as short |
| BloFin BZ-USDT | −0.0007% | 4h | 97.530 | +0.021% | $1.5M | $97K | 50x | as long as short |
| Aster BZUSDT | 0.0000% | 4h | 97.516 | +0.006% | $339K | $930K | 50x | as long as short |
| Binance BZUSDT | 0.0000% | 4h | 97.510 | 0.000% | $147.7M | $362.9M | 100x | as long as short |
| Bybit BZUSDT | 0.0000% | 8h | 97.510 | 0.000% | $10.4M | $12.6M | 100x | as long as short |
| OKX BZ-USDT-SWAP | 0.0000% | 4h | 97.520 | +0.010% | $16.1M | $20.5M | 50x | as long as short |
| RISEx BZ/USDC | 0.0000% | 1h | 97.488 | −0.023% | $2.4M | $1.7M | 20x | as long as short |
| Gate BZ_USDT | 0.0000% | 8h | 97.470 | −0.041% | $9.2M | $11.6M | 100x | as long as short |
| Bitget BZUSDT | 0.0000% | 4h | 97.510 | 0.000% | $28.0M | $16.5M | 100x | as long as short |
Injective BRENT/USDC PERP
Coinbase International BRENTOIL-PERP-INTX
BloFin BZ-USDT
Aster BZUSDT
Binance BZUSDT
Bybit BZUSDT
OKX BZ-USDT-SWAP
RISEx BZ/USDC
Gate BZ_USDT
Bitget BZUSDTShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Variational Omni BZ | 0.0000% | 4h | 97.500 | −0.010% | $9.4M | $7.0M | — | as long as short |
| GRVT BZ_USDT_Perp | 0.0000% | 4h | 97.487 | −0.023% | $34K | $327K | 25x | as long as short |
| SunX BRENTOIL-USDT | 0.0000% | 4h | 97.540 | +0.031% | $4K | $2.5M | 20x | as long as short |
| Deribit BRENTOIL_USDC-PERPETUALshort | 0.0000% | 1h | 97.510 | 0.000% | $101K | $249K | 15x | |
| HTX BRENTOIL-USDT | 0.0000% | 4h | 97.500 | −0.010% | $280K | $253K | 75x | as long as short |
| Phemex XBRUSDT | 0.0000% | 4h | 97.510 | 0.000% | $1.2M | $83K | 100x | as long as short |
| edgeX BZUSDC | +0.0002% | 4h | 97.479 | −0.032% | $224K | $229K | 20x | as long as short |
| Kraken Futures PF_BRENTOILUSD | +0.0009% | 1h | 97.530 | +0.021% | $82K | $208K | 20x | as long as short |
| gTrade (Gains Network) BRENT/USD | L +0.0011% / S −0.0011% | 1h | 98.059 | +0.564% | — | — | — | as long as short |
| Hotstuff BRENTOIL-PERP | +0.0016% | 1h | 97.510 | 0.000% | $34K | — | 20x | as long as short |
| Vest BZ-PERP | +0.0018% | 1h | 101.58 | +4.174% | — | $735K | 10x | as long as short |
| Lighter BRENTOILlong | +0.0032% | 1h | 97.510 | long leg | $3.2M | $4.6M | 20x | |
| Extended XBR-USD | +0.0032% | 1h | 97.521 | +0.011% | $680K | $3.7M | 10x | as long as short |
| Paradex BZ-USD-PERP | +0.0050% | 8h | 97.513 | +0.003% | $3K | $336 | 5x | as long as short |
| tradeXYZ xyz:BRENTOIL | +0.0050% | 1h | 97.539 | +0.030% | $154.0M | $124.3M | 20x | as long as short |
| Polymarket Perps BRENTOIL-USD | +0.0050% | 1h | 97.562 | +0.053% | $1.6M | $463K | 20x | as long as short |
| Ondo Perps BRENT-USD.P | +0.0050% | 1h | 97.470 | −0.041% | $3.1M | $1.0M | 15x | as long as short |
| Aftermath Perps BRENTUSD | +0.0051% | 1h | 97.540 | +0.030% | $7K | $42K | 5x | as long as short |
| KuCoin BZUSDTM | +0.0100% | 4h | 97.520 | +0.010% | $3.8M | $837K | 50x | as long as short |
| ApeX Omni BZUSDT | +0.0100% | 1h | 97.510 | 0.000% | $26K | $274K | 50x | as long as short |
| GMX BRENTOIL/USD [ETH-USDC] | L +0.0311% / S −0.2526% | 1h | 97.515 | +0.005% | $115K | — | 111x | as long as short |
Variational Omni BZ
GRVT BZ_USDT_Perp
SunX BRENTOIL-USDT
HTX BRENTOIL-USDT
Phemex XBRUSDT
edgeX BZUSDC
Kraken Futures PF_BRENTOILUSD
gTrade (Gains Network) BRENT/USD
Hotstuff BRENTOIL-PERP
Vest BZ-PERP
Extended XBR-USD
Paradex BZ-USD-PERP
tradeXYZ xyz:BRENTOIL
Polymarket Perps BRENTOIL-USD
Ondo Perps BRENT-USD.P
Aftermath Perps BRENTUSD
KuCoin BZUSDTM
ApeX Omni BZUSDT
GMX BRENTOIL/USD [ETH-USDC]