Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.012%

Price spread now: OKX against Lighter0.000%7-day average −0.005% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$140.138% of the position

Long on Lighter Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days+0.003%$0 · spread now 0.000%, 7d avg −0.005%

Together, before fees−0.070%+ Points / potential airdropLighter: Season 3 · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.005%, 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	Lighter BRENTOIL	96.920	0.0032	pay 0.0004% / 1h	46m 24s	$3.3M	$4.5M	20x
Short	OKX BZ-USDT-SWAP	96.920	0	get 0.0000% / 4h	1h 46m	$15.9M	$20.7M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Lighter. 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 LighterbpFee OKXbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$6.72
Price spread: 0.000% → −0.005%: $0.45
Slippage, 4 orders: −$3.82
Fee Lighter: 0 bp × 2 orders: $0
Fee OKX: 5 bp × 2 orders: −$10
Net: −$20.09
Costs to cover: 0.138%
Break-even: never at this rate

Slippage from Lighter: live order book, 11 min ago; OKX: live order book, 2 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 Lighter live order book, 11 min ago	0.52 bp	1.4 bp −$1	1.5 bp −$15	7.5 bp −$751	doesn't fit
Sell OKX live order book, 2 min ago	0.52 bp	5.8 bp −$6	10.2 bp −$102	25.8 bp −$2,585	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	96.207	−0.736%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.113%	$234K	$425K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.930	+0.010%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0030%	4h	96.940	+0.021%	—	$87K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.898	−0.023%	$336K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.906	−0.015%	$146.5M	$375.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.910	−0.010%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	96.920	0.000%	$15.9M	$20.7M	50x
RISEx BZ/USDC	0.0000%	1h	96.908	−0.012%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.870	−0.052%	$9.2M	$12.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.920	0.000%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.006	+0.089%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.011	+0.094%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.960	+0.041%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.930	+0.010%	$103K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.920	0.000%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.900	−0.021%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	96.943	+0.024%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.455	+0.552%	—	—	—	as long as short
Lighter BRENTOILlong	+0.0032%	1h	96.920	long leg	$3.3M	$4.5M	20x
Extended XBR-USD	+0.0032%	1h	96.929	+0.009%	$676K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.98	+4.189%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.911	−0.009%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.941	+0.022%	$151.9M	$125.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.975	+0.057%	$1.5M	$446K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.870	−0.052%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.990	+0.072%	$3.8M	$875K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.930	+0.010%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0181% / S +0.0058%	1h	96.905	−0.015%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0192%	1h	96.953	+0.034%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.945	+0.026%	$83K	$218K	20x	as long as short