Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Extended against Lighter−0.020%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$170.170% of the position

Long on Lighter Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.062%−$6 on $10k

Price spread, last 7 days+0.024%+$2 · spread now −0.020%, 7d avg −0.020%

Together, before fees−0.038%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$4 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	95.490	0.0032	pay 0.0004% / 1h	58m 32s	$3.5M	$4.6M	20x
Short	Extended XBR-USD	95.471	0.0032	get 0.0004% / 1h	58m 32s	$751K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.020%Rate

Funding earned: $0
Price spread: −0.020% → −0.020%: −$0.06
Slippage, 4 orders: −$11.98
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$17.04
Costs to cover: 0.170%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; Extended: live order book, 5 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, 4 min ago	0.53 bp	0.5 bp −$1	0.9 bp −$9	8.1 bp −$810	doesn't fit
Sell Extended live order book, 5 min ago	2.46 bp	7.2 bp −$7	22.6 bp −$226	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
Kraken Futures PF_BRENTOILUSD	−0.0339%	1h	95.335	−0.163%	$81K	$203K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.447	−0.045%	$2.3M	$1.8M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0274%	1h	95.360	−0.136%	$98K	$268K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0132%	4h	95.210	−0.293%	$14K	$328K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.320	−0.178%	$276K	$590K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0072%	1h	95.160	−0.346%	$33K	—	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0045%	1h	95.370	−0.126%	$3.0M	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0043%	8h	95.410	−0.084%	$10.1M	$14.6M	100x	as long as short
Aster BZUSDT	0.0000%	4h	95.480	−0.010%	$329K	$702K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.420	−0.073%	$146.4M	$392.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	95.480	−0.010%	$15.9M	$23.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.400	−0.094%	$9.2M	$10.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.520	+0.031%	$28.1M	$22.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.237	−0.265%	$9.2M	$6.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.160	−0.346%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.060	−0.450%	$272K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.550	+0.063%	$1.2M	$80K	100x	as long as short
Vest BZ-PERP	+0.0011%	1h	98.960	+3.634%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	+0.171%	—	—	—	as long as short
edgeX BZUSDC	+0.0018%	4h	95.073	−0.436%	$218K	$232K	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	95.466	−0.025%	$2K	$1K	5x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	95.490	long leg	$3.5M	$4.6M	20x
Extended XBR-USDshort	+0.0032%	1h	95.471	−0.020%	$751K	$2.7M	10x
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+0.892%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	+0.0048%	4h	95.070	−0.440%	$1.5M	$102K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.570	+0.084%	$153.0M	$127.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.252	−0.249%	$1.6M	$385K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0056%	1h	95.362	−0.134%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.580	+0.094%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.320	−0.178%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.245	−0.257%	$33K	—	111x	as long as short