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 SunX0.000%7-day average +0.041% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.047%+$5 · spread now 0.000%, 7d avg +0.041%

Together, before fees+0.128%+ Points / potential airdropLighter: Season 3 · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.041% cheaper against SunX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.041%). If the spread goes back, that is −$4 on $10k: about 4.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	96.910	0	get 0.0000% / 4h	2h 04m	$4K	$2.5M	20x
Short	Lighter BRENTOIL	96.910	0.0032	get 0.0004% / 1h	4m 49s	$3.3M	$4.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now 0.000%Rate

Funding earned: $6.72
Price spread: 0.000% → +0.041%: −$4.11
Slippage, 4 orders: −$42.06
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$47.45
Costs to cover: 0.501%
Break-even: 56.4 days

Slippage from SunX: live order book, 2 min ago; Lighter: live order book, 3 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 SunX live order book, 2 min ago	18.57 bp	22.6 bp −$23	30.6 bp −$306	doesn't fit	doesn't fit
Sell Lighter live order book, 3 min ago	0.52 bp	0.5 bp −$1	1.4 bp −$14	7.4 bp −$743	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
Injective BRENT/USDC PERP	−0.0220%	1h	95.978	−0.962%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.810	−0.103%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.898	−0.013%	$336K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.900	−0.010%	$146.4M	$377.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.870	−0.041%	$10.3M	$13.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.900	−0.010%	$15.9M	$20.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.882	−0.029%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.860	−0.052%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	−0.010%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.868	−0.043%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.881	−0.030%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.910	long leg	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	0.000%	$103K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.890	−0.021%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.900	−0.010%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.441	+0.548%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.892	−0.019%	$222K	$228K	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.910	0.000%	$3.3M	$4.5M	20x
Extended XBR-USD	+0.0032%	1h	96.908	−0.002%	$677K	$5.0M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.97	+4.189%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.891	−0.019%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.903	−0.007%	$151.8M	$126.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.956	+0.047%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.840	−0.072%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	96.920	+0.010%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.950	+0.041%	$3.8M	$882K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.890	−0.021%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0210% / S +0.0074%	1h	96.895	−0.015%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0223%	1h	96.941	+0.032%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.915	+0.006%	$83K	$218K	20x	as long as short