Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against Gate+0.031%7-day average +0.060% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$240.243% of the position

Long on Gate Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 7 days+0.031%+$3 · spread now +0.031%, 7d avg +0.060%

Together, before fees+0.203%+ Points / potential airdropLighter: Season 3 · farm board+$20 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.029% cheaper against Gate than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.060%). If the spread goes back, that is −$3 on $10k: about 3.0 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.172% in total) that is about 28 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BZ_USDT	97.670	0	get 0.0000% / 8h	2h 10m	$9.3M	$11.7M	100x
Short	Lighter BRENTOIL	97.700	0.0032	get 0.0004% / 1h	10m 54s	$3.3M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Gate. 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 GatebpFee LighterbpOrdersPrice spread, now +0.031%Rate

Funding earned: $6.72
Price spread: +0.031% → +0.060%: −$2.9
Slippage, 4 orders: −$9.31
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Lighter: 0 bp × 2 orders: $0
Net: −$20.49
Costs to cover: 0.243%
Break-even: 28.3 days

Slippage from Gate: live order book, 3 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 Gate live order book, 3 min ago	1.02 bp	9.5 bp −$10	15.7 bp −$157	32.9 bp −$3,294	45.5 bp −$22.7K
Sell Lighter live order book, 7 min ago	1.02 bp	1.0 bp −$1	1.7 bp −$17	7.1 bp −$714	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	96.939	−0.748%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.143%	$235K	$430K	15x	as long as short
BloFin BZ-USDT	−0.0041%	4h	97.680	+0.010%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.712	+0.043%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.703	+0.034%	$147.8M	$360.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.690	+0.020%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.700	+0.031%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.670	0.000%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDTlong	0.0000%	8h	97.670	long leg	$9.3M	$11.7M	100x
Bitget BZUSDT	0.0000%	4h	97.700	+0.031%	$27.8M	$17.3M	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	97.609	−0.063%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.656	−0.014%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.700	+0.031%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.690	+0.020%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.660	−0.010%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.640	−0.031%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0004%	4h	97.667	−0.004%	$225K	$227K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.687	+0.018%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.237	+0.581%	—	—	—	as long as short
Vest BZ-PERP	+0.0015%	1h	101.74	+4.167%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.710	+0.041%	$34K	—	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.700	+0.031%	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.712	+0.043%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.679	+0.009%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.718	+0.049%	$154.5M	$124.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.730	+0.061%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.610	−0.061%	$3.1M	$999K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0071%	1h	97.687	+0.017%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.710	+0.041%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.710	+0.041%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.685	+0.015%	$116K	—	111x	as long as short