Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.013%

Price spread now: Lighter against Binance−0.010%7-day average −0.016% · you buy dearer than you sell

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−$120.120% of the position

Long on Binance Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days−0.013%−$1 · spread now −0.010%, 7d avg −0.016%

Together, before fees+0.026%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.016%, 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	Binance BZUSDT	97.610	0	get 0.0000% / 4h	53m 12s	$148.7M	$353.7M	100x
Short	Lighter BRENTOIL	97.600	0.0032	get 0.0004% / 1h	53m 12s	$3.3M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Binance. 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 BinancebpFee LighterbpOrdersPrice spread, now −0.010%Rate

Funding earned: $6.72
Price spread: −0.010% → −0.016%: $0.57
Slippage, 4 orders: −$2.04
Fee Binance: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$4.75
Costs to cover: 0.120%
Break-even: 11.9 days

Slippage from Binance: live order book, 5 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 Binance live order book, 5 min ago	0.51 bp	5.5 bp −$6	6.2 bp −$62	13.0 bp −$1,305	44.4 bp −$22.2K
Sell Lighter live order book, 4 min ago	0.51 bp	0.5 bp −$1	1.4 bp −$14	9.0 bp −$903	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	97.155	−0.466%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.092%	$237K	$415K	15x	as long as short
BloFin BZ-USDT	−0.0002%	4h	97.590	−0.020%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.609	−0.001%	$339K	$868K	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	97.610	long leg	$148.7M	$353.7M	100x
Bybit BZUSDT	0.0000%	8h	97.580	−0.031%	$10.2M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.610	0.000%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.553	−0.058%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.570	−0.041%	$9.3M	$10.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.620	+0.010%	$28.0M	$18.2M	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	97.787	+0.181%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.709	+0.101%	$25K	$321K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.590	−0.020%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.600	−0.010%	$100K	$253K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.780	+0.174%	$281K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.650	+0.041%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0007%	1h	101.79	+4.282%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.138	+0.541%	—	—	—	as long as short
edgeX BZUSDC	+0.0015%	4h	97.818	+0.213%	$225K	$227K	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.600	−0.010%	$3.3M	$3.9M	20x
Extended XBR-USD	+0.0032%	1h	97.596	−0.014%	$729K	$3.2M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.700	+0.092%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.561	−0.050%	$3K	$639	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.620	+0.010%	$155.5M	$114.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.666	+0.057%	$1.6M	$462K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.490	−0.123%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0098%	1h	97.660	+0.051%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.560	−0.051%	$3.8M	$807K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.810	+0.205%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.616	+0.006%	$82K	$204K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.565	−0.046%	$116K	—	111x	as long as short