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 +0.012%

Price spread now: Lighter against HTX+0.062%7-day average +0.096% · you sell dearer than you buy

Net, funding: paid 7d − costs−$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$190.191% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.125%+$13 · spread now +0.062%, 7d avg +0.096%

Together, before fees+0.214%+ Points / potential airdropLighter: Season 3 · farm board+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.034% cheaper against HTX than usual: you would sell low and buy high (spread +0.062% now, against its 7-day average of +0.096%). If the spread goes back, that is −$3 on $10k: about 3.6 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	HTX BRENTOIL-USDT	97.190	0	get 0.0000% / 4h	35m 31s	$279K	$268K	75x
Short	Lighter BRENTOIL	97.250	0.0032	get 0.0004% / 1h	35m 31s	$3.3M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.062%Rate

Funding earned: $6.72
Price spread: +0.062% → +0.096%: −$3.42
Slippage, 4 orders: −$7.14
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.84
Costs to cover: 0.191%
Break-even: 23.5 days

Slippage from HTX: live order book, 21 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 HTX live order book, 21 min ago	1.54 bp	9.6 bp −$10	16.6 bp −$166	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	0.51 bp	0.5 bp −$1	1.9 bp −$19	7.3 bp −$730	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	96.571	−0.637%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.051%	$234K	$437K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.220	+0.031%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.223	+0.034%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.240	+0.051%	$147.1M	$371.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.220	+0.031%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.230	+0.041%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.231	+0.042%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.200	+0.010%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.230	+0.041%	$27.5M	$16.3M	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	97.238	+0.049%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.240	+0.051%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.280	+0.093%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.270	+0.082%	$104K	$237K	15x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	97.190	long leg	$279K	$268K	75x
Phemex XBRUSDT	0.0000%	4h	97.320	+0.134%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.209	+0.020%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.809	+0.637%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.280	+0.093%	$34K	—	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.250	+0.062%	$3.3M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.247	+0.059%	$680K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0034%	1h	101.25	+4.177%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.237	+0.048%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.253	+0.065%	$153.0M	$124.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.287	+0.100%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.180	−0.010%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.270	+0.082%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.260	+0.072%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0101%	1h	97.279	+0.092%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.262	+0.074%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0200% / S −0.0061%	1h	97.255	+0.067%	$126K	—	111x	as long as short