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 HTX+0.256%7-day average +0.094% · 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−$4as in the Price arb table

costs, in and out, $10k−$200.202% of the position

Long on HTX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.088%+$9 on $10k

Price spread, last 4 days (all we have)−0.169%−$17 · spread now +0.256%, 7d avg +0.094%

Together, before fees−0.081%+ Points / potential airdropLighter: Season 3 · farm board−$8 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 0.162% dearer against HTX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX BRENTOIL-USDT	97.580	0	get 0.0000% / 4h	58m 10s	$280K	$253K	75x
Short	Lighter BRENTOIL	97.830	0.0032	get 0.0004% / 1h	58m 10s	$3.3M	$3.9M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against HTX. 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 HTXbpFee LighterbpOrdersPrice spread, now +0.256%Rate

Funding earned: $6.72
Price spread: +0.256% → +0.094%: $16.22
Slippage, 4 orders: −$8.17
Fee HTX: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $2.77
Costs to cover: 0.202%
Break-even: 4.1 days

Slippage from HTX: live order book, 44 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 HTX live order book, 44 min ago	2.56 bp	8.6 bp −$9	15.6 bp −$156	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	1.03 bp	1.0 bp −$1	1.1 bp −$11	9.7 bp −$965	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	96.970	−0.625%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	−0.0058%	4h	97.750	+0.174%	$1.5M	$96K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.700	+0.123%	$237K	$415K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.837	+0.264%	$340K	$880K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.840	+0.266%	$148.8M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.820	+0.246%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.830	+0.256%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.779	+0.204%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.800	+0.225%	$9.3M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.840	+0.266%	$28.1M	$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	97.538	−0.043%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.523	−0.059%	$30K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.810	+0.236%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.840	+0.266%	$101K	$253K	15x	as long as short
HTX BRENTOIL-USDTlong	0.0000%	4h	97.580	long leg	$280K	$253K	75x
Phemex XBRUSDT	0.0000%	4h	97.840	+0.266%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.96	+4.489%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.387	+0.827%	—	—	—	as long as short
edgeX BZUSDC	+0.0011%	4h	97.518	−0.063%	$225K	$229K	20x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.830	+0.256%	$3.3M	$3.9M	20x
Extended XBR-USD	+0.0032%	1h	97.852	+0.279%	$722K	$3.3M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.770	+0.195%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.787	+0.212%	$3K	$355	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.860	+0.287%	$155.8M	$115.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.854	+0.281%	$1.6M	$462K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.670	+0.092%	$3.1M	$1.0M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.800	+0.225%	$3.8M	$811K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.560	−0.020%	$26K	$273K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.630	+0.052%	$7K	$41K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0112%	1h	97.846	+0.272%	$82K	$204K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.815	+0.241%	$116K	—	111x	as long as short