Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.014%

Price spread now: Lighter against Aster+0.025%7-day average +0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$11as in the Funding arb table

Net, price: spread back to 7d avg − costs−$19as in the Price arb table

costs, in and out, $10k−$160.156% of the position

Long on Aster Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.050%+$5 on $10k

Price spread, last 4 days (all we have)−0.094%−$9 · spread now +0.025%, 7d avg +0.063%

Together, before fees−0.045%+ Points / potential airdropAster: Stage 5 · Lighter: Season 3 · farm board−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.038% cheaper against Aster than usual: you would sell low and buy high (spread +0.025% now, against its 7-day average of +0.063%). If the spread goes back, that is −$4 on $10k: about 3.9 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	Aster BZUSDT	96.226	0	get 0.0000% / 4h	3h 48m	$334K	$1.2M	50x
Short	Lighter BRENTOIL	96.250	0.0032	get 0.0004% / 1h	48m 52s	$3.4M	$4.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Aster. 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 AsterbpFee LighterbpOrdersPrice spread, now +0.025%Rate

Funding earned: $6.72
Price spread: +0.025% → +0.063%: −$3.77
Slippage, 4 orders: −$7.58
Fee Aster: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$12.64
Costs to cover: 0.156%
Break-even: 20.2 days

Slippage from Aster: live order book, 4 min ago; Lighter: live order book, 4 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 Aster live order book, 4 min ago	2.08 bp	6.5 bp −$6	11.8 bp −$118	100.5 bp −$10.1K	doesn't fit
Sell Lighter live order book, 4 min ago	0.52 bp	1.5 bp −$1	3.1 bp −$31	11.8 bp −$1,184	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.245	+0.020%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.744%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.162%	$232K	$483K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.240	+0.015%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0032%	4h	96.210	−0.016%	$1.5M	$95K	50x	as long as short
Aster BZUSDTlong	0.0000%	4h	96.226	long leg	$334K	$1.2M	50x
Binance BZUSDT	0.0000%	4h	96.203	−0.024%	$145.8M	$437.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.220	−0.006%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.200	−0.027%	$15.8M	$25.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.218	−0.008%	$2.2M	$1.3M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.170	−0.058%	$9.2M	$14.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.220	−0.006%	$27.6M	$20.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.120	−0.110%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.238	+0.013%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.270	+0.046%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.260	+0.035%	$103K	$272K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.130	−0.100%	$306K	$229K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.360	+0.139%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	0.0000%	4h	96.183	−0.044%	$220K	$233K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.795	+0.591%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.272	+0.048%	$83K	$233K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0022%	1h	96.130	−0.100%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	96.250	+0.025%	$3.4M	$4.2M	20x
Extended XBR-USD	+0.0032%	1h	96.240	+0.015%	$746K	$5.3M	10x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	96.207	−0.019%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.34	+4.276%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.268	+0.044%	$151.0M	$143.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.312	+0.090%	$1.5M	$502K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.260	+0.035%	$3.8M	$989K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.220	−0.006%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0568%	1h	96.191	−0.036%	$6K	$44K	5x	as long as short