Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against SunX+0.010%7-day average +0.043% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$500.501% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now +0.010%, 7d avg +0.043%

Together, before fees+0.117%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.033% cheaper against SunX than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.043%). If the spread goes back, that is −$3 on $10k: about 3.4 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	96.860	0	get 0.0000% / 4h	2h 57m	$4K	$2.6M	20x
Short	Lighter BRENTOIL	96.870	0.0032	get 0.0004% / 1h	57m 47s	$3.3M	$4.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now +0.010%Rate

Funding earned: $6.72
Price spread: +0.010% → +0.043%: −$3.31
Slippage, 4 orders: −$42.15
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$46.74
Costs to cover: 0.501%
Break-even: 55.7 days

Slippage from SunX: live order book, 9 min ago; Lighter: live order book, 5 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 SunX live order book, 9 min ago	18.61 bp	22.6 bp −$23	30.7 bp −$307	doesn't fit	doesn't fit
Sell Lighter live order book, 5 min ago	0.52 bp	0.5 bp −$1	0.5 bp −$5	6.7 bp −$665	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	95.731	−1.166%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.217%	$234K	$440K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.901	+0.042%	$337K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.883	+0.024%	$146.1M	$400.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.850	−0.010%	$10.4M	$14.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.860	0.000%	$15.9M	$24.0M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.796	−0.066%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.840	−0.021%	$9.2M	$12.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.860	0.000%	$27.7M	$16.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.668	−0.198%	$9.3M	$7.4M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.660	−0.206%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	96.860	long leg	$4K	$2.6M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.870	+0.010%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.700	−0.165%	$308K	$222K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.870	+0.010%	$1.2M	$88K	100x	as long as short
BloFin BZ-USDT	+0.0005%	4h	96.840	−0.021%	$1.5M	$91K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.398	+0.555%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	96.699	−0.166%	$221K	$233K	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.870	+0.010%	$3.3M	$4.3M	20x
Extended XBR-USD	+0.0032%	1h	96.873	+0.013%	$687K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.86	+4.130%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.799	−0.063%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.881	+0.022%	$151.9M	$138.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.861	+0.001%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.810	−0.052%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.900	+0.041%	$3.8M	$918K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.740	−0.124%	$25K	$272K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	96.820	−0.041%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0202% / S +0.0119%	1h	96.865	+0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.870	+0.010%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0317%	1h	96.775	−0.088%	$7K	$44K	5x	as long as short