Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.010%

Price spread now: SunX against Lighter+0.031%7-day average −0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$500.504% of the position

Long on Lighter Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.054%−$5 on $10k

Price spread, last 3 days (all we have)−0.105%−$11 · spread now +0.031%, 7d avg −0.045%

Together, before fees−0.160%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.076% dearer against Lighter than usual: you sell high and buy low (spread +0.031% now, against its 7-day average of −0.045%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 7.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	96.040	0.0032	pay 0.0004% / 1h	6m 12s	$3.3M	$4.3M	20x
Short	SunX BRENTOIL-USDT	96.070	0	get 0.0000% / 4h	1h 06m	$4K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.031%Rate

Funding earned: −$6.72
Price spread: +0.031% → −0.045%: $7.58
Slippage, 4 orders: −$42.45
Fee Lighter: 0 bp × 2 orders: $0
Fee SunX: 4 bp × 2 orders: −$8
Net: −$49.59
Costs to cover: 0.504%
Break-even: never at this rate

Slippage from Lighter: live order book, 6 min ago; SunX: live order book, 11 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	0.5 bp −$1	1.4 bp −$14	5.6 bp −$565	doesn't fit
Sell SunX live order book, 11 min ago	18.74 bp	26.7 bp −$27	35.3 bp −$353	doesn't fit	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	96.045	+0.005%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.824%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.023	−0.018%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.050	+0.010%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.010%	$232K	$624K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.038	−0.002%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.047	+0.007%	$145.7M	$470.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.060	+0.021%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.030	−0.010%	$15.8M	$27.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	96.000	−0.042%	$9.2M	$18.0M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.030	−0.010%	$27.4M	$21.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.032	−0.008%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.009	−0.033%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	96.070	+0.031%	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.060	+0.021%	$103K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.990	−0.052%	$305K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.040	0.000%	$1.2M	$96K	100x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.028	−0.012%	$220K	$233K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0014%	1h	96.063	+0.024%	$6K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0022%	8h	96.026	−0.015%	$3K	$521	5x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	96.040	long leg	$3.3M	$4.3M	20x
Extended XBR-USD	+0.0032%	1h	95.963	−0.080%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.760	+3.873%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0048%	4h	96.040	0.000%	$1.5M	$95K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.060	+0.021%	$147.8M	$145.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.105	+0.068%	$1.5M	$529K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.000	−0.042%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.060	+0.021%	$3.8M	$996K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.050	+0.010%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.074	+0.036%	$81K	$235K	20x	as long as short