BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0018%/8h= −2.0% APRnext payment −$0.02 per $10,000 · paid last 24h −0.003%

Price spread now: Lighter against Polymarket Perps−0.053%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

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

Long on Polymarket Perps Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.351%−$35 on $10k

Price spread, last 7 days−0.241%−$24 · spread now −0.053%, 7d avg −0.105%

Together, before fees−0.592%+ Points / potential airdropLighter: Season 3 · farm board−$59 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.052% dearer against Polymarket Perps than usual: you sell high and buy low (spread −0.053% now, against its 7-day average of −0.105%): +$5 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.6 days. At the pace of the last 7 days (−0.351% in total) that is about 25 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Polymarket Perps BRENTOIL-USD	97.562	0.0050	pay 0.0006% / 1h	31m 18s	$1.6M	$463K	20x
Short	Lighter BRENTOIL	97.510	0.0032	get 0.0004% / 1h	31m 18s	$3.2M	$4.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Polymarket Perps. 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 Polymarket PerpsbpFee LighterbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$3.78
Price spread: −0.053% → −0.105%: $5.19
Slippage, 4 orders: −$6.72
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$13.31
Costs to cover: 0.147%
Break-even: never at this rate

Slippage from Polymarket Perps: live order book, 2 min ago; Lighter: live order book, 7 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 Polymarket Perps live order book, 2 min ago	0.05 bp	5.5 bp −$6	6.1 bp −$61	12.6 bp −$1,263	doesn't fit
Sell Lighter live order book, 7 min ago	1.02 bp	1.0 bp −$1	1.0 bp −$10	6.3 bp −$629	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	96.783	−0.798%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.033%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0007%	4h	97.530	−0.033%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.513	−0.051%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.510	−0.053%	$147.7M	$362.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.520	−0.043%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.520	−0.043%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.488	−0.076%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.480	−0.084%	$9.2M	$11.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.510	−0.053%	$28.0M	$16.5M	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	97.500	−0.064%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.487	−0.077%	$34K	$327K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.530	−0.033%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.510	−0.053%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.500	−0.064%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.500	−0.064%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.479	−0.085%	$224K	$229K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.519	−0.044%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.058	+0.509%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.510	−0.053%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0018%	1h	101.58	+4.118%	—	$735K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.510	−0.053%	$3.2M	$4.6M	20x
Extended XBR-USD	+0.0032%	1h	97.517	−0.046%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.513	−0.050%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.539	−0.024%	$154.0M	$124.3M	20x	as long as short
Polymarket Perps BRENTOIL-USDlong	+0.0050%	1h	97.562	long leg	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.470	−0.094%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0052%	1h	97.540	−0.023%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.530	−0.033%	$3.8M	$837K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.510	−0.053%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0312% / S −0.2547%	1h	97.515	−0.048%	$115K	—	111x	as long as short