Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.015%

Price spread now: Lighter against Aster−0.034%7-day average +0.009% · you buy dearer than you sell

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$130.130% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 7 days+0.034%+$3 · spread now −0.034%, 7d avg +0.009%

Together, before fees+0.085%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.042% cheaper against Aster than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.009%). If the spread goes back, that is −$4 on $10k: about 4.4 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	Aster BZUSDT	97.083	0	get 0.0000% / 4h	12m 19s	$338K	$954K	50x
Short	Lighter BRENTOIL	97.050	0.0032	get 0.0004% / 1h	12m 19s	$3.2M	$4.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now −0.034%Rate

Funding earned: $6.72
Price spread: −0.034% → +0.009%: −$4.24
Slippage, 4 orders: −$5
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$10.52
Costs to cover: 0.130%
Break-even: 18.0 days

Slippage from Aster: live order book, 51 min ago; Lighter: 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 Aster live order book, 51 min ago	1.54 bp	6.4 bp −$6	8.8 bp −$88	84.3 bp −$8,428	doesn't fit
Sell Lighter live order book, 5 min ago	0.51 bp	0.5 bp −$1	0.6 bp −$6	7.3 bp −$728	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	96.433	−0.669%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.162%	$234K	$436K	15x	as long as short
BloFin BZ-USDT	−0.0029%	4h	97.030	−0.054%	$1.5M	$92K	50x	as long as short
Aster BZUSDTlong	0.0000%	4h	97.083	long leg	$338K	$954K	50x
Binance BZUSDT	0.0000%	4h	97.040	−0.044%	$147.0M	$369.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.020	−0.065%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.030	−0.054%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.034	−0.050%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.000	−0.085%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.020	−0.065%	$27.7M	$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	97.168	+0.088%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.140	+0.059%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.030	−0.054%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.040	−0.044%	$104K	$234K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.010	−0.075%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.260	+0.182%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	97.138	+0.056%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.591	+0.523%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.080	−0.003%	$33K	—	20x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.08	+4.117%	—	$735K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.050	−0.034%	$3.2M	$4.8M	20x
Extended XBR-USD	+0.0032%	1h	97.035	−0.049%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.041	−0.043%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.069	−0.014%	$153.1M	$127.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.075	−0.008%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.980	−0.106%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.080	−0.003%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.170	+0.090%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0127%	1h	97.136	+0.055%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0143%	1h	97.031	−0.054%	$84K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0212% / S −0.0144%	1h	97.035	−0.049%	$126K	—	111x	as long as short