Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against OKX0.000%7-day average +0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$14as in the Price arb table

costs, in and out, $10k−$130.135% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days+0.008%+$1 · spread now 0.000%, 7d avg +0.005%

Together, before fees+0.081%+ Points / potential airdropLighter: Season 3 · farm board+$8 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: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	96.820	0	get 0.0000% / 4h	2h 42m	$15.9M	$23.2M	50x
Short	Lighter BRENTOIL	96.820	0.0032	get 0.0004% / 1h	42m 14s	$3.3M	$4.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.72
Price spread: 0.000% → +0.005%: −$0.48
Slippage, 4 orders: −$3.48
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$7.24
Costs to cover: 0.135%
Break-even: 14.5 days

Slippage from OKX: live order book, 1 min ago; Lighter: live order book, 10 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 OKX live order book, 1 min ago	0.52 bp	6.6 bp −$7	10.0 bp −$100	26.7 bp −$2,671	doesn't fit
Sell Lighter live order book, 10 min ago	0.52 bp	0.5 bp −$1	1.3 bp −$13	8.5 bp −$848	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
Injective BRENT/USDC PERP	−0.0220%	1h	95.962	−0.886%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.176%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.062%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.780	−0.041%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.812	−0.009%	$146.2M	$390.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.810	−0.010%	$10.3M	$14.3M	100x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	96.820	long leg	$15.9M	$23.2M	50x
RISEx BZ/USDC	0.0000%	1h	96.742	−0.080%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.760	−0.062%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.830	+0.010%	$27.8M	$16.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.780	−0.041%	$9.3M	$7.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.800	−0.021%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.790	−0.031%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.830	+0.010%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.900	+0.083%	$308K	$284K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.810	−0.010%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	96.793	−0.028%	$222K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.314	+0.511%	—	—	—	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.820	0.000%	$3.3M	$4.4M	20x
Extended XBR-USD	+0.0032%	1h	96.808	−0.012%	$672K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.80	+4.111%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.769	−0.052%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.806	−0.014%	$151.6M	$132.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.817	−0.003%	$1.5M	$486K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.760	−0.062%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	96.770	−0.052%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.830	+0.010%	$3.8M	$894K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.770	−0.052%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0205% / S +0.0106%	1h	96.785	−0.036%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.812	−0.008%	$83K	$218K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0276%	1h	96.803	−0.018%	$7K	$44K	5x	as long as short