Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against Bybit+0.010%7-day average +0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$180.180% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.157%+$16 on $10k

Price spread, last 7 days+0.001%$0 · spread now +0.010%, 7d avg +0.011%

Together, before fees+0.158%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, 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	Bybit BZUSDT	97.740	0	get 0.0000% / 8h	1h 26m	$10.4M	$13.1M	100x
Short	Lighter BRENTOIL	97.750	0.0032	get 0.0004% / 1h	26m 00s	$3.3M	$4.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.010%Rate

Funding earned: $6.72
Price spread: +0.010% → +0.011%: −$0.03
Slippage, 4 orders: −$6.98
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$11.29
Costs to cover: 0.180%
Break-even: 18.8 days

Slippage from Bybit: live order book, 2 min ago; Lighter: live order book, 12 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 Bybit live order book, 2 min ago	0.51 bp	8.8 bp −$9	10.9 bp −$109	100.9 bp −$10.1K	doesn't fit
Sell Lighter live order book, 12 min ago	0.51 bp	0.5 bp −$1	1.2 bp −$12	8.7 bp −$866	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	97.018	−0.739%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.810	+0.072%	$236K	$417K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.764	+0.024%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.754	+0.015%	$147.9M	$349.5M	100x	as long as short
Bybit BZUSDTlong	0.0000%	8h	97.740	long leg	$10.4M	$13.1M	100x
OKX BZ-USDT-SWAP	0.0000%	4h	97.750	+0.010%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.748	+0.008%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.810	+0.072%	$34K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.710	−0.031%	$9.3M	$11.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.770	+0.031%	$27.9M	$17.4M	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	97.768	+0.029%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.782	+0.043%	$24K	$305K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.800	+0.061%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.750	+0.010%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.690	−0.051%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	98.010	+0.276%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0008%	4h	97.739	−0.001%	$225K	$227K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.91	+4.266%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.315	+0.588%	—	—	—	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.750	+0.010%	$3.3M	$4.1M	20x
Extended XBR-USD	+0.0032%	1h	97.771	+0.031%	$682K	$3.3M	10x	as long as short
BloFin BZ-USDT	+0.0050%	4h	97.710	−0.031%	$1.5M	$97K	50x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.786	+0.047%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.781	+0.042%	$155.2M	$116.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.817	+0.079%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.740	0.000%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0084%	1h	97.814	+0.076%	$7K	$41K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.780	+0.041%	$3.8M	$808K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.730	−0.010%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.779	+0.040%	$82K	$206K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.825	+0.087%	$116K	—	111x	as long as short