Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1910%/8h= +209.1% APRpaid last 24h −0.011%

Price spread now: GMX against Aster−0.002%7-day average +0.013% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Aster Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now −0.002%, 7d avg +0.013%

Together, before fees−0.114%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.013%, so right now this pair is about funding alone: +$57 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.007% in total (about -0.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BZUSDT	97.457	0	get 0.0000% / 4h	3h 00m	$339K	$930K	50x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.455	L +0.0281% / S −0.1910%	get 0.0239% / 1h	0m 15s	$115K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Aster. 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 AsterbpFee GMXbpOrdersPrice spread, now −0.002%Rate

Funding earned: $401.07
Price spread: −0.002% → +0.013%: −$1.52
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee GMX: 6 bp × 2 orders: −$12
Net: $379.55
Costs to cover: 0.200%
Break-even: 0.4 days

Slippage unknown: Aster: live order book, 58 min ago; GMX: no order-book sample. Net counts fees only.

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 Aster live order book, 58 min ago	2.06 bp	6.1 bp −$6	6.5 bp −$65	80.3 bp −$8,030	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.536	−0.945%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.460	+0.003%	$237K	$443K	15x	as long as short
BloFin BZ-USDT	−0.0010%	4h	97.450	−0.007%	$1.5M	$97K	50x	as long as short
Aster BZUSDTlong	0.0000%	4h	97.457	long leg	$339K	$930K	50x
Binance BZUSDT	0.0000%	4h	97.460	+0.004%	$147.4M	$366.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.470	+0.014%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.470	+0.014%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.432	−0.025%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.430	−0.027%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.460	+0.003%	$28.0M	$16.6M	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	97.418	−0.040%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.481	+0.025%	$26K	$314K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.490	+0.034%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.480	+0.024%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.420	−0.038%	$280K	$264K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.055%	$1.2M	$83K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.019	+0.577%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	97.475	+0.019%	$224K	$228K	20x	as long as short
Vest BZ-PERP	+0.0022%	1h	101.52	+4.169%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.460	+0.003%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.483	+0.027%	$680K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.447	−0.010%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.481	+0.025%	$153.7M	$125.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.480	+0.024%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.410	−0.048%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.480	+0.024%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0073%	1h	97.478	+0.022%	$7K	$42K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	97.470	+0.014%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.510	+0.055%	$3.8M	$848K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.480	+0.024%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0281% / S −0.1910%	1h	97.455	−0.002%	$115K	—	111x