Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.012%

Price spread now: Lighter against SunX−0.010%7-day average +0.038% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on SunX Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.010%, 7d avg +0.038%

Together, before fees+0.165%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.049% cheaper against SunX than usual: you would sell low and buy high (spread −0.010% now, against its 7-day average of +0.038%). If the spread goes back, that is −$5 on $10k: about 5.1 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX BRENTOIL-USDT	97.370	0	get 0.0000% / 4h	3h 18m	$4K	$2.5M	20x
Short	Lighter BRENTOIL	97.360	0.0032	get 0.0004% / 1h	18m 19s	$3.2M	$4.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against SunX. 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 SunXbpFee LighterbpOrdersPrice spread, now −0.010%Rate

Funding earned: $6.72
Price spread: −0.010% → +0.038%: −$4.87
Slippage, 4 orders: −$41.89
Fee SunX: 4 bp × 2 orders: −$8
Fee Lighter: 0 bp × 2 orders: $0
Net: −$48.04
Costs to cover: 0.499%
Break-even: 57.0 days

Slippage from SunX: live order book, 9 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 SunX live order book, 9 min ago	18.48 bp	22.5 bp −$22	30.5 bp −$305	doesn't fit	doesn't fit
Sell Lighter live order book, 4 min ago	0.51 bp	0.5 bp −$1	1.0 bp −$10	6.7 bp −$668	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	96.628	−0.762%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.103%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.360	−0.010%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.370	0.000%	$147.4M	$367.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.360	−0.010%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.370	0.000%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.341	−0.029%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.330	−0.041%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	−0.010%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.278	−0.095%	$9.3M	$6.9M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.297	−0.075%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDTlong	0.0000%	4h	97.370	long leg	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.370	0.000%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	−0.051%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.530	+0.164%	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.915	+0.559%	—	—	—	as long as short
BloFin BZ-USDT	+0.0014%	4h	97.300	−0.072%	$1.5M	$91K	50x	as long as short
edgeX BZUSDC	+0.0018%	4h	97.273	−0.099%	$223K	$227K	20x	as long as short
Vest BZ-PERP	+0.0026%	1h	101.41	+4.149%	—	$735K	10x	as long as short
Lighter BRENTOILshort	+0.0032%	1h	97.360	−0.010%	$3.2M	$4.7M	20x
Extended XBR-USD	+0.0032%	1h	97.371	+0.001%	$680K	$4.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.359	−0.012%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.372	+0.002%	$153.8M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.395	+0.026%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.310	−0.062%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.361	−0.009%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0094%	1h	97.336	−0.035%	$7K	$43K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.380	+0.010%	$3.8M	$851K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.340	−0.031%	$26K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	97.320	−0.051%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0262% / S −0.1510%	1h	97.355	−0.015%	$115K	—	111x	as long as short