Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h +0.008%

Price spread now: OKX against Lighter−0.021%7-day average −0.005% · you buy dearer than you sell

Net, funding: paid 7d − costs−$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$16as in the Price arb table

costs, in and out, $10k−$150.147% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 7 days+0.018%+$2 · spread now −0.021%, 7d avg −0.005%

Together, before fees−0.112%+ Points / potential airdropLighter: Season 3 · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.129% in total (about -6.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	96.230	0.0304	pay 0.0038% / 1h	18m 27s	$3.3M	$4.3M	20x
Short	OKX BZ-USDT-SWAP	96.210	0	get 0.0000% / 4h	18m 27s	$15.8M	$26.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$63.84
Price spread: −0.021% → −0.005%: −$1.61
Slippage, 4 orders: −$4.67
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$80.12
Costs to cover: 0.147%
Break-even: never at this rate

Slippage from Lighter: live order book, 4 min ago; OKX: 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	1.04 bp	1.0 bp −$1	1.2 bp −$12	8.4 bp −$838	doesn't fit
Sell OKX live order book, 5 min ago	0.52 bp	7.1 bp −$7	10.7 bp −$107	26.5 bp −$2,653	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 −0.0848% / S +0.0467%	1h	96.205	−0.026%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.348	−0.917%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0064%	1h	96.250	+0.021%	$33K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0062%	1h	96.240	+0.010%	$103K	$275K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.166%	$232K	$551K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	96.199	−0.032%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	−0.021%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.208	−0.022%	$145.8M	$453.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	−0.010%	$10.5M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	96.210	−0.021%	$15.8M	$26.5M	50x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.170	−0.062%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.220	−0.010%	$27.6M	$20.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.172	−0.060%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	−0.010%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.230	0.000%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.150	−0.083%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.320	+0.094%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.203	−0.028%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	96.197	−0.034%	$3K	$521	5x	as long as short
BloFin BZ-USDT	+0.0036%	4h	96.190	−0.042%	$1.5M	$96K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.800	+3.710%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.246	+0.017%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.264	+0.035%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0076%	1h	96.270	+0.042%	$6K	$45K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.120	−0.114%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.170	−0.062%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.261	+0.032%	$83K	$234K	20x	as long as short
Lighter BRENTOILlong	+0.0304%	1h	96.230	long leg	$3.3M	$4.3M	20x
Ondo Perps BRENT-USD.P	+0.0398%	1h	96.180	−0.052%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0592%	1h	96.118	−0.116%	$675K	$5.2M	10x	as long as short