BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0111%/8h= +12.1% APRnext payment +$0.14 per $10,000 · paid last 24h +0.015%

Price spread now: Kraken Futures against Lighter+0.019%7-day average −0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$131as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Lighter Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.983%−$98 on $10k

Price spread, last 4 days (all we have)−0.259%−$26 · spread now +0.019%, 7d avg −0.046%

Together, before fees−1.242%+ Points / potential airdropLighter: Season 3 · farm board−$124 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.065% dearer against Lighter than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.046%. Mind the row above: over the last 7 days funding on this pair cost −0.983%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	97.000	0.0032	pay 0.0004% / 1h	7m 14s	$3.2M	$4.8M	20x
Short	Kraken Futures PF_BRENTOILUSD	97.018	0.0143	get 0.0018% / 1h	7m 14s	$84K	$206K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.019%Rate

Funding earned: $23.21
Price spread: +0.019% → −0.046%: $6.5
Slippage, 4 orders: −$22.55
Fee Lighter: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$2.84
Costs to cover: 0.326%
Break-even: 7.9 days

Slippage from Lighter: live order book, 6 min ago; Kraken Futures: live order book, 50 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, 6 min ago	0.51 bp	0.5 bp −$1	0.5 bp −$5	7.2 bp −$719	doesn't fit
Sell Kraken Futures live order book, 50 min ago	2.31 bp	18.2 bp −$18	35.8 bp −$358	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	96.433	−0.585%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.240	+0.247%	$234K	$436K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0059%	1h	96.980	−0.021%	$103K	$236K	15x	as long as short
BloFin BZ-USDT	0.0000%	4h	97.000	0.000%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.023	+0.023%	$337K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.983	−0.017%	$146.9M	$369.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.980	−0.021%	$10.4M	$12.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.980	−0.021%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.987	−0.013%	$2.2M	$1.5M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.960	−0.041%	$9.2M	$12.3M	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	96.980	−0.021%	$27.7M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.017	+0.018%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.034	+0.036%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.010	+0.010%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.990	−0.010%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.290	+0.299%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.016	+0.016%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.542	+0.558%	—	—	—	as long as short
Vest BZ-PERP	+0.0031%	1h	101.03	+4.155%	—	$735K	10x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	97.000	long leg	$3.2M	$4.8M	20x
Extended XBR-USD	+0.0032%	1h	97.000	0.000%	$680K	$4.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.989	−0.012%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.014	+0.014%	$153.0M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.043	+0.044%	$1.6M	$491K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.940	−0.062%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.030	+0.031%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.050	+0.052%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.060	+0.062%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0125%	1h	97.066	+0.068%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0143%	1h	97.018	+0.019%	$84K	$206K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0216% / S −0.0171%	1h	96.985	−0.015%	$126K	—	111x	as long as short