Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0032%/8hpaid last 24h +0.042%

Price spread now: Aster against Lighter−0.007%7-day average −0.066% · you buy dearer than you sell

Net, funding: paid 7d − costs−$33as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$140.143% of the position

Long on Lighter Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.189%−$19 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now −0.007%, 7d avg −0.066%

Together, before fees−0.118%+ Points / potential airdropLighter: Season 3 · Aster: Stage 5 · farm board−$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.059% dearer against Lighter than usual: you sell high and buy low (spread −0.007% now, against its 7-day average of −0.066%): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 6.2 days. At the pace of the last 7 days (−0.189% in total) that is about 2.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	96.160	0.0032	pay 0.0004% / 1h	4m 57s	$3.3M	$4.4M	20x
Short	Aster BZUSDT	96.153	0	get 0.0000% / 4h	4m 57s	$333K	$1.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Lighter. 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 LighterbpFee AsterbpOrdersPrice spread, now −0.007%Rate

Funding earned: −$6.72
Price spread: −0.007% → −0.066%: $5.93
Slippage, 4 orders: −$6.27
Fee Lighter: 0 bp × 2 orders: $0
Fee Aster: 4 bp × 2 orders: −$8
Net: −$15.06
Costs to cover: 0.143%
Break-even: never at this rate

Slippage from Lighter: live order book, 2 min ago; Aster: 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 Lighter live order book, 2 min ago	1.04 bp	1.0 bp −$1	1.9 bp −$19	11.0 bp −$1,097	doesn't fit
Sell Aster live order book, 3 min ago	1.56 bp	5.6 bp −$6	10.0 bp −$100	82.7 bp −$8,270	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	95.342	−0.851%	$10K	$4K	30x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0191% / S +0.0326%	1h	96.135	−0.026%	$109K	—	111x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	95.990	−0.177%	$230K	$839K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0008%	1h	96.150	−0.010%	$33K	—	20x	as long as short
Aster BZUSDTshort	0.0000%	4h	96.153	−0.007%	$333K	$1.7M	50x
Binance BZUSDT	0.0000%	4h	96.150	−0.010%	$145.3M	$477.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.150	−0.010%	$10.4M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.140	−0.021%	$15.8M	$30.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.127	−0.034%	$2.2M	$1.2M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.100	−0.062%	$9.1M	$18.9M	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	96.160	0.000%	$27.7M	$23.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.105	−0.058%	$9.5M	$11.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.109	−0.053%	$35K	$408K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.150	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.160	0.000%	$103K	$280K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.110	−0.052%	$319K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.130	−0.031%	$1.2M	$99K	100x	as long as short
BloFin BZ-USDT	+0.0001%	4h	96.110	−0.052%	$1.5M	$96K	50x	as long as short
Ondo Perps BRENT-USD.P	+0.0011%	1h	96.110	−0.052%	$3.1M	$1.1M	15x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.879	+0.748%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.083	−0.080%	$220K	$234K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0028%	1h	96.127	−0.035%	$81K	$262K	20x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	96.160	long leg	$3.3M	$4.4M	20x
Extended XBR-USD	+0.0032%	1h	96.190	+0.031%	$671K	$5.2M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0044%	1h	96.128	−0.033%	$6K	$48K	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.23	+4.233%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.148	−0.013%	$3K	$473	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.185	+0.026%	$149.0M	$144.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.186	+0.027%	$1.5M	$552K	20x	as long as short
KuCoin BZUSDTM	+0.0070%	4h	96.190	+0.031%	$3.7M	$986K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.090	−0.073%	$25K	$270K	50x	as long as short