Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.017%

Price spread now: Lighter against KuCoin+0.274%7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$1as in the Price arb table

costs, in and out, $10k−$300.296% of the position

Long on KuCoin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.127%−$13 on $10k

Price spread, last 7 days−0.281%−$28 · spread now +0.274%, 7d avg −0.008%

Together, before fees−0.408%+ Points / potential airdropLighter: Season 3 · farm board−$41 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Lighter is 0.283% dearer against KuCoin than usual: you sell high and buy low (spread +0.274% now, against its 7-day average of −0.008%): +$28 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 14 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BZUSDTM	94.720	0.0100	pay 0.0050% / 4h	49m 20s	$3.4M	$1.1M	50x
Short	Lighter BRENTOIL	94.980	0.0032	get 0.0004% / 1h	49m 20s	$3.5M	$5.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee LighterbpOrdersPrice spread, now +0.274%Rate

Funding earned: −$14.28
Price spread: +0.274% → −0.008%: $28.25
Slippage, 4 orders: −$17.56
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: −$15.58
Costs to cover: 0.296%
Break-even: never at this rate

Slippage from KuCoin: live order book, 6 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 KuCoin live order book, 6 min ago	0.53 bp	18.1 bp −$18	49.2 bp −$492	doesn't fit	doesn't fit
Sell Lighter live order book, 7 min ago	1.59 bp	1.6 bp −$2	1.6 bp −$16	11.4 bp −$1,136	doesn't fit

BZ on 31 exchanges

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
RISEx BZ/USDC	−0.0384%	1h	94.873	+0.161%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0335%	1h	94.935	+0.227%	$107K	$277K	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.950	+0.243%	$236K	$1.2M	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0066%	1h	95.000	+0.296%	$29K	$384K	15x	as long as short
Bybit BZUSDT	−0.0060%	8h	94.990	+0.285%	$10.5M	$18.0M	100x	as long as short
BloFin BZ-USDT	−0.0056%	4h	94.890	+0.179%	$1.5M	$124K	50x	as long as short
Binance BZUSDT	−0.0024%	4h	95.012	+0.308%	$146.3M	$476.4M	100x	as long as short
edgeX BZUSDC	−0.0015%	4h	94.416	−0.321%	$217K	$231K	20x	as long as short
GRVT BZ_USDT_Perp	−0.0006%	4h	94.439	−0.297%	$16K	$307K	25x	as long as short
Aster BZUSDT	0.0000%	4h	95.033	+0.330%	$326K	$683K	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	94.940	+0.232%	$15.7M	$30.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.900	+0.190%	$8.9M	$13.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.980	+0.274%	$27.5M	$31.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.410	−0.327%	$8.9M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.940	+0.232%	$4K	$1.6M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.000	+0.296%	$243K	$312K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.000	+0.296%	$1.2M	$101K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0010%	1h	94.420	−0.317%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.569	+0.896%	—	—	—	as long as short
Vest BZ-PERP	+0.0016%	1h	98.420	+3.906%	—	$736K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	94.980	+0.274%	$3.5M	$5.7M	20x
Extended XBR-USD	+0.0032%	1h	94.926	+0.217%	$764K	$4.0M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.122%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	94.931	+0.223%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.809	+0.094%	$142.0M	$187.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.788	+0.072%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.780	+0.063%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTMlong	+0.0100%	4h	94.720	long leg	$3.4M	$1.1M	50x
ApeX Omni BZUSDT	+0.0100%	1h	94.410	−0.327%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0166% / S −0.0429%	1h	94.965	+0.259%	$22K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	94.480	−0.253%	$33K	—	20x	as long as short