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 +0.012%

Price spread now: Lighter against Bitget+0.031%7-day average −0.008% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$12as in the Price arb table

costs, in and out, $10k−$160.161% of the position

Long on Bitget Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 7 days−0.049%−$5 · spread now +0.031%, 7d avg −0.008%

Together, before fees+0.038%+ Points / potential airdropLighter: Season 3 · farm board+$4 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 0.039% dearer against Bitget than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of −0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BZUSDT	97.220	0	get 0.0000% / 4h	35m 23s	$27.8M	$18.3M	100x
Short	Lighter BRENTOIL	97.250	0.0032	get 0.0004% / 1h	35m 23s	$3.3M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bitget. 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 BitgetbpFee LighterbpOrdersPrice spread, now +0.031%Rate

Funding earned: $6.72
Price spread: +0.031% → −0.008%: $3.89
Slippage, 4 orders: −$4.13
Fee Bitget: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$5.52
Costs to cover: 0.161%
Break-even: 12.8 days

Slippage from Bitget: 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 Bitget live order book, 3 min ago	0.51 bp	7.5 bp −$8	10.4 bp −$104	27.5 bp −$2,748	75.5 bp −$37.8K
Sell Lighter live order book, 7 min ago	0.51 bp	0.5 bp −$1	2.0 bp −$20	9.7 bp −$970	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	96.605	−0.633%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0059%	1h	97.200	−0.021%	$100K	$254K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.160	−0.062%	$235K	$410K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0032%	1h	97.270	+0.051%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.248	+0.028%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.220	0.000%	$149.1M	$352.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.210	−0.010%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.220	0.000%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.227	+0.007%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.180	−0.041%	$9.2M	$10.9M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDTlong	0.0000%	4h	97.220	long leg	$27.8M	$18.3M	100x
Variational Omni BZ	0.0000%	4h	97.286	+0.068%	$9.5M	$6.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.360	+0.144%	$18K	$330K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.210	−0.010%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.330	+0.113%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.420	+0.206%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.32	+4.217%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.311	+0.094%	$224K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.781	+0.577%	—	—	—	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.250	+0.031%	$3.3M	$3.9M	20x
Extended XBR-USD	+0.0032%	1h	97.217	−0.003%	$738K	$3.1M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0032%	1h	97.210	−0.010%	$3.1M	$998K	15x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.238	+0.019%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.241	+0.022%	$155.0M	$114.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.280	+0.062%	$1.6M	$405K	20x	as long as short
BloFin BZ-USDT	+0.0050%	4h	97.190	−0.031%	$1.5M	$98K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0094%	1h	97.358	+0.142%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.270	+0.051%	$3.8M	$802K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.330	+0.113%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.232	+0.012%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.215	−0.005%	$115K	—	111x	as long as short