Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.002%

Price spread now: Extended against Lighter−0.002%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$13as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5as in the Price arb table

costs, in and out, $10k−$70.072% of the position

Long on Lighter Short on Extended

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+0.007%+$1 · spread now −0.002%, 7d avg −0.020%

Together, before fees−0.055%+ Points / potential airdropLighter: Season 3 · Extended: Active · farm board−$5 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	97.380	0.0032	pay 0.0004% / 1h	48m 02s	$3.3M	$3.9M	20x
Short	Extended XBR-USD	97.378	0.0032	get 0.0004% / 1h	48m 02s	$737K	$3.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.002%Rate

Funding earned: $0
Price spread: −0.002% → −0.020%: $1.83
Slippage, 4 orders: −$2.2
Fee Lighter: 0 bp × 2 orders: $0
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$5.37
Costs to cover: 0.072%
Break-even: never at this rate

Slippage from Lighter: live order book, 5 min ago; Extended: live order book, 6 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, 5 min ago	0.51 bp	0.5 bp −$1	2.7 bp −$27	9.1 bp −$913	doesn't fit
Sell Extended live order book, 6 min ago	0.15 bp	3.5 bp −$4	12.8 bp −$128	doesn't fit	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	97.155	−0.231%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0096%	1h	97.440	+0.062%	$34K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.329%	$237K	$412K	15x	as long as short
BloFin BZ-USDT	−0.0032%	4h	97.380	0.000%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.414	+0.035%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.397	+0.017%	$148.4M	$352.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.380	0.000%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.380	0.000%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.392	+0.013%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.360	−0.021%	$9.2M	$10.8M	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	97.390	+0.010%	$27.9M	$18.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.526	+0.150%	$9.4M	$6.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.530	+0.154%	$18K	$329K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.420	+0.041%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.400	+0.021%	$100K	$253K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.300	−0.082%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.460	+0.082%	$1.2M	$87K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.533	+0.157%	$225K	$228K	20x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.52	+4.251%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.973	+0.609%	—	—	—	as long as short
Lighter BRENTOILlong	+0.0032%	1h	97.380	long leg	$3.3M	$3.9M	20x
Extended XBR-USDshort	+0.0032%	1h	97.378	−0.002%	$737K	$3.2M	10x
Ondo Perps BRENT-USD.P	+0.0036%	1h	97.340	−0.041%	$3.1M	$1.0M	15x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.371	−0.010%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.420	+0.041%	$155.2M	$114.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.465	+0.087%	$1.6M	$462K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0082%	1h	97.529	+0.153%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.410	+0.031%	$3.8M	$805K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.560	+0.185%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.409	+0.030%	$82K	$201K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.425	+0.046%	$116K	—	111x	as long as short