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: Gate against Lighter−0.041%7-day average −0.060% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$260.258% of the position

Long on Lighter Short on Gate

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−0.021%−$2 · spread now −0.041%, 7d avg −0.060%

Together, before fees−0.193%+ Points / potential airdropLighter: Season 3 · farm board−$19 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.060%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	97.640	0.0032	pay 0.0004% / 1h	26m 11s	$3.2M	$4.6M	20x
Short	Gate BZ_USDT	97.600	0	get 0.0000% / 8h	2h 26m	$9.3M	$11.7M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.041%Rate

Funding earned: −$6.72
Price spread: −0.041% → −0.060%: $1.87
Slippage, 4 orders: −$10.82
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$30.66
Costs to cover: 0.258%
Break-even: never at this rate

Slippage from Lighter: live order book, 7 min ago; Gate: live order book, 2 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, 7 min ago	0.51 bp	0.5 bp −$1	1.4 bp −$14	8.2 bp −$821	doesn't fit
Sell Gate live order book, 2 min ago	1.54 bp	13.6 bp −$14	23.7 bp −$237	32.6 bp −$3,263	44.6 bp −$22.3K

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	96.783	−0.878%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.113%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0015%	4h	97.620	−0.020%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.651	+0.011%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.648	+0.008%	$147.8M	$362.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.630	−0.010%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.640	0.000%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.615	−0.025%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	97.600	−0.041%	$9.3M	$11.7M	100x
Bitget BZUSDT	0.0000%	4h	97.650	+0.010%	$28.0M	$16.5M	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	97.619	−0.022%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.601	−0.040%	$34K	$309K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	+0.010%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.630	−0.010%	$101K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.051%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.620	−0.020%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.537	−0.106%	$225K	$227K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.644	+0.005%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.174	+0.547%	—	—	—	as long as short
Vest BZ-PERP	+0.0017%	1h	101.69	+4.148%	—	$735K	10x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	97.640	long leg	$3.2M	$4.6M	20x
Extended XBR-USD	+0.0032%	1h	97.646	+0.007%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.623	−0.017%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.669	+0.030%	$154.2M	$124.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.674	+0.035%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.590	−0.051%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0059%	1h	97.607	−0.033%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.630	−0.010%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.660	+0.020%	$3.8M	$833K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.670	+0.031%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0318% / S −0.2532%	1h	97.625	−0.015%	$116K	—	111x	as long as short