Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h +0.052%

Price spread now: edgeX against Lighter−0.032%7-day average −0.081% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$300.305% of the position

Long on Lighter Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.046%+$5 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now −0.032%, 7d avg −0.081%

Together, before fees+0.074%+ Points / potential airdropLighter: Season 3 · edgeX: Active · farm board+$7 on $10k · with fees, hour by hour

The price spread pays, funding is against you. edgeX is 0.050% dearer against Lighter than usual: you sell high and buy low (spread −0.032% now, against its 7-day average of −0.081%): +$5 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 11 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	96.020	0.0032	pay 0.0004% / 1h	1m 14s	$3.3M	$4.5M	20x
Short	edgeX BZUSDC	95.990	0.0017	get 0.0008% / 4h	2h 01m	$220K	$234K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.032%Rate

Funding earned: −$3.16
Price spread: −0.032% → −0.081%: $4.97
Slippage, 4 orders: −$21.5
Fee Lighter: 0 bp × 2 orders: $0
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$28.69
Costs to cover: 0.305%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; edgeX: live order book, 21 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	0.52 bp	0.8 bp −$1	1.8 bp −$18	16.6 bp −$1,661	doesn't fit
Sell edgeX live order book, 21 min ago	9.90 bp	14.5 bp −$15	17.0 bp −$170	70.8 bp −$7,082	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0783% / S +0.0478%	1h	95.995	−0.026%	$114K	—	29x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.923	−0.101%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0112%	1h	96.050	+0.031%	$232K	$859K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.010	−0.010%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0028%	4h	95.980	−0.042%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	95.990	−0.031%	$335K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.000	−0.021%	$145.7M	$491.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.010	−0.010%	$10.2M	$17.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.000	−0.021%	$15.8M	$29.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	95.990	−0.031%	$2.2M	$1.3M	20x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	95.960	−0.062%	$9.2M	$19.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.990	−0.031%	$27.5M	$23.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.971	−0.051%	$9.2M	$10.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.929	−0.095%	$34K	$396K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.010	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.030	+0.010%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.062%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.990	−0.031%	$1.2M	$101K	100x	as long as short
Paradex BZ-USD-PERP	0.0000%	8h	95.994	−0.027%	$3K	$521	5x	as long as short
edgeX BZUSDCshort	+0.0017%	4h	95.990	−0.032%	$220K	$234K	20x
Lighter BRENTOILlong	+0.0032%	1h	96.020	long leg	$3.3M	$4.5M	20x
Extended XBR-USD	+0.0032%	1h	95.993	−0.028%	$669K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.05	+4.197%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.017	−0.003%	$148.0M	$148.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.059	+0.041%	$1.5M	$539K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.950	−0.073%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.900	−0.125%	$3.8M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.010	−0.010%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	96.035	+0.015%	$81K	$258K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0190%	1h	95.966	−0.056%	$6K	$45K	5x	as long as short