Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.012%

Price spread now: HTX against Lighter−0.083%7-day average −0.096% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

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

costs, in and out, $10k−$180.183% of the position

Long on Lighter Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 3 days (all we have)0.000%$0 · spread now −0.083%, 7d avg −0.096%

Together, before fees−0.088%+ Points / potential airdropLighter: Season 3 · farm board−$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.096%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	96.220	0.0048	pay 0.0006% / 1h	52m 23s	$3.4M	$4.2M	20x
Short	HTX BRENTOIL-USDT	96.140	0	get 0.0000% / 4h	3h 52m	$306K	$229K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$10.08
Price spread: −0.083% → −0.096%: $1.31
Slippage, 4 orders: −$6.3
Fee Lighter: 0 bp × 2 orders: $0
Fee HTX: 6 bp × 2 orders: −$12
Net: −$27.07
Costs to cover: 0.183%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; HTX: live order book, 20 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, 5 min ago	0.52 bp	0.6 bp −$1	2.3 bp −$23	13.1 bp −$1,312	doesn't fit
Sell HTX live order book, 20 min ago	1.56 bp	9.6 bp −$10	11.0 bp −$110	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.215	−0.005%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.738%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.156%	$232K	$483K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0066%	4h	96.139	−0.084%	$34K	$365K	25x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	−0.010%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.200	−0.021%	$145.7M	$439.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	0.000%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.200	−0.021%	$15.8M	$25.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.189	−0.033%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.270	+0.052%	$33K	—	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.150	−0.073%	$9.2M	$14.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.230	+0.010%	$27.6M	$20.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.142	−0.081%	$9.3M	$7.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.220	0.000%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.250	+0.031%	$103K	$272K	15x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	96.140	−0.083%	$306K	$229K	75x
Phemex XBRUSDT	0.0000%	4h	96.360	+0.145%	$1.2M	$94K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.793	+0.595%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.166	−0.056%	$220K	$232K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.242	+0.023%	$83K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0037%	8h	96.193	−0.028%	$3K	$521	5x	as long as short
Ondo Perps BRENT-USD.P	+0.0038%	1h	96.160	−0.062%	$3.1M	$1.1M	15x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.32	+4.261%	—	$735K	10x	as long as short
Lighter BRENTOILlong	+0.0048%	1h	96.220	long leg	$3.4M	$4.2M	20x
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.245	+0.026%	$151.0M	$143.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.290	+0.073%	$1.5M	$502K	20x	as long as short
BloFin BZ-USDT	+0.0057%	4h	96.230	+0.010%	$1.5M	$95K	50x	as long as short
Extended XBR-USD	+0.0072%	1h	96.224	+0.004%	$760K	$5.3M	10x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.260	+0.042%	$3.8M	$989K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.100	−0.125%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0605%	1h	96.166	−0.056%	$6K	$44K	5x	as long as short