Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against OKX+0.043%7-day average +0.004% · you sell dearer than you buy

Net, funding: paid 7d − costs−$8as in the Funding arb table

Net, price: spread back to 7d avg − costs−$11as in the Price arb table

costs, in and out, $10k−$150.151% of the position

Long on OKX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days−0.041%−$4 · spread now +0.043%, 7d avg +0.004%

Together, before fees+0.032%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Lighter is 0.038% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX BZ-USDT-SWAP	94.100	0	get 0.0000% / 4h	1h 43m	$15.8M	$28.4M	50x
Short	Lighter BRENTOIL	94.140	0.0032	get 0.0004% / 1h	43m 53s	$3.4M	$5.6M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against OKX. 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 OKXbpFee LighterbpOrdersPrice spread, now +0.043%Rate

Funding earned: $6.72
Price spread: +0.043% → +0.004%: $3.84
Slippage, 4 orders: −$5.07
Fee OKX: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.51
Costs to cover: 0.151%
Break-even: 11.7 days

Slippage from OKX: live order book, 3 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 OKX live order book, 3 min ago	0.53 bp	5.9 bp −$6	9.7 bp −$97	25.8 bp −$2,581	doesn't fit
Sell Lighter live order book, 7 min ago	1.07 bp	1.1 bp −$1	2.0 bp −$20	10.8 bp −$1,076	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	94.170	+0.074%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0493%	1h	94.130	+0.032%	$34K	$383K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0342%	1h	94.186	+0.091%	$100K	$270K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	94.178	+0.083%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.782%	$8K	$7K	30x	as long as short
Bybit BZUSDT	−0.0091%	8h	94.150	+0.053%	$10.7M	$16.9M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	93.840	−0.276%	$245K	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0078%	4h	93.835	−0.282%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0036%	4h	94.166	+0.070%	$145.3M	$472.2M	100x	as long as short
edgeX BZUSDC	−0.0017%	4h	93.841	−0.275%	$216K	$232K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.165	+0.069%	$323K	$812K	50x	as long as short
OKX BZ-USDT-SWAPlong	0.0000%	4h	94.100	long leg	$15.8M	$28.4M	50x
Gate BZ_USDT	0.0000%	8h	94.140	+0.043%	$8.8M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.110	+0.011%	$27.5M	$30.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.961	−0.148%	$9.0M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.190	+0.096%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	94.180	+0.085%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.310	+0.223%	$1.2M	$80K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	94.200	+0.106%	$1.5M	$114K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.666	+0.602%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.900	+4.038%	—	$736K	10x	as long as short
Aftermath Perps BRENTUSD	+0.0025%	1h	94.072	−0.030%	$7K	$38K	5x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	94.205	+0.112%	$1K	$2K	5x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	94.140	+0.043%	$3.4M	$5.6M	20x
Extended XBR-USD	+0.0032%	1h	94.080	−0.022%	$763K	$3.8M	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0039%	1h	94.203	+0.109%	$132.3M	$187.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.226	+0.134%	$1.5M	$487K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.150	+0.053%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.160	+0.064%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.860	−0.255%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.125	+0.027%	$32K	—	111x	as long as short