BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0018%/8h= +2.0% APRnext payment +$0.02 per $10,000 · paid last 24h +0.003%

Price spread now: Polymarket Perps against Lighter+0.031%7-day average +0.105% · you sell dearer than you buy

Net, funding: paid 7d − costs+$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$160.160% of the position

Long on Lighter Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 7 days+0.263%+$26 · spread now +0.031%, 7d avg +0.105%

Together, before fees+0.614%+ Points / potential airdropLighter: Season 3 · farm board+$61 on $10k · with fees, hour by hour

Funding pays, the price is against you. Polymarket Perps is 0.074% cheaper against Lighter than usual: you would sell low and buy high (spread +0.031% now, against its 7-day average of +0.105%). If the spread goes back, that is −$7 on $10k: about 14 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.351% in total) that is about 36 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BRENTOIL	97.690	0.0032	pay 0.0004% / 1h	25m 21s	$3.3M	$4.6M	20x
Short	Polymarket Perps BRENTOIL-USD	97.720	0.0050	get 0.0006% / 1h	25m 21s	$1.6M	$463K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps 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 Polymarket PerpsbpOrdersPrice spread, now +0.031%Rate

Funding earned: $3.78
Price spread: +0.031% → +0.105%: −$7.45
Slippage, 4 orders: −$8.04
Fee Lighter: 0 bp × 2 orders: $0
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$19.71
Costs to cover: 0.160%
Break-even: 43.5 days

Slippage from Lighter: live order book, 2 min ago; Polymarket Perps: live order book, 3 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, 2 min ago	1.02 bp	1.0 bp −$1	2.3 bp −$23	9.8 bp −$978	doesn't fit
Sell Polymarket Perps live order book, 3 min ago	2.15 bp	7.8 bp −$8	8.0 bp −$80	18.1 bp −$1,806	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	96.783	−0.928%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.164%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0015%	4h	97.620	−0.072%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.689	−0.001%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.700	+0.010%	$147.9M	$362.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.690	0.000%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.690	0.000%	$16.1M	$20.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.668	−0.023%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.660	−0.031%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.680	−0.010%	$28.0M	$16.5M	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	97.619	−0.073%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.601	−0.091%	$34K	$309K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.650	−0.041%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.630	−0.061%	$101K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.102%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.620	−0.072%	$1.2M	$83K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.644	−0.047%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.231	+0.554%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	97.644	−0.047%	$225K	$227K	20x	as long as short
Vest BZ-PERP	+0.0017%	1h	101.75	+4.156%	—	$735K	10x	as long as short
Lighter BRENTOILlong	+0.0032%	1h	97.690	long leg	$3.3M	$4.6M	20x
Extended XBR-USD	+0.0032%	1h	97.666	−0.025%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.683	−0.007%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.704	+0.014%	$154.3M	$124.5M	20x	as long as short
Polymarket Perps BRENTOIL-USDshort	+0.0050%	1h	97.720	+0.031%	$1.6M	$463K	20x
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.600	−0.092%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0060%	1h	97.611	−0.081%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.630	−0.061%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.700	+0.010%	$3.8M	$833K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.620	−0.072%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0319% / S −0.2554%	1h	97.685	−0.005%	$116K	—	111x	as long as short