Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.002%

Price spread now: Lighter against Extended−0.017%7-day average +0.021% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$120.115% of the position

Long on Extended Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.062%+$6 on $10k

Price spread, last 7 days+0.014%+$1 · spread now −0.017%, 7d avg +0.021%

Together, before fees+0.076%+ Points / potential airdropExtended: Active · Lighter: Season 3 · farm board+$8 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.039% cheaper against Extended than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	97.867	0.0032	pay 0.0004% / 1h	39m 53s	$682K	$3.4M	10x
Short	Lighter BRENTOIL	97.850	0.0032	get 0.0004% / 1h	39m 53s	$3.3M	$4.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Extended. 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 ExtendedbpFee LighterbpOrdersPrice spread, now −0.017%Rate

Funding earned: $0
Price spread: −0.017% → +0.021%: −$3.86
Slippage, 4 orders: −$6.52
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.38
Costs to cover: 0.115%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; Lighter: live order book, 8 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 Extended live order book, 4 min ago	1.43 bp	4.9 bp −$5	17.4 bp −$174	doesn't fit	doesn't fit
Sell Lighter live order book, 8 min ago	0.51 bp	0.5 bp −$1	1.3 bp −$13	5.4 bp −$541	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	96.817	−1.073%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.530	−0.344%	$235K	$416K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0080%	1h	97.840	−0.027%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0019%	4h	97.760	−0.109%	$1.5M	$98K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.866	−0.001%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.880	+0.014%	$147.8M	$352.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.830	−0.038%	$10.1M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.860	−0.007%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.820	−0.047%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.810	−0.058%	$9.3M	$10.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.870	+0.003%	$28.0M	$17.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.768	−0.101%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.779	−0.089%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.860	−0.007%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.830	−0.038%	$100K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.830	−0.038%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.920	+0.054%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.792	−0.076%	$225K	$229K	20x	as long as short
Vest BZ-PERP	+0.0011%	1h	101.95	+4.172%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.419	+0.565%	—	—	—	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.850	−0.017%	$3.3M	$4.0M	20x
Extended XBR-USDlong	+0.0032%	1h	97.867	long leg	$682K	$3.4M	10x
Paradex BZ-USD-PERP	+0.0050%	8h	97.815	−0.053%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.860	−0.007%	$155.2M	$119.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.903	+0.037%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.760	−0.109%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0083%	1h	97.792	−0.077%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.870	+0.003%	$3.9M	$823K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.840	−0.027%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0157%	1h	97.853	−0.014%	$82K	$208K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.865	−0.002%	$116K	—	111x	as long as short