Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.019%

Price spread now: Phemex against Aster+0.018%7-day average +0.229% · you sell dearer than you buy

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

Long on Aster Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.433%+$43 on $10k

Price spread, last 4 days (all we have)+0.069%+$7 · spread now +0.018%, 7d avg +0.229%

Together, before fees+0.502%+ Points / potential airdropAster: Stage 5 · farm board+$50 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.212% cheaper against Aster than usual: you would sell low and buy high, −$21 on $10k if it goes back to its 7-day average of +0.229%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster BZUSDT	96.903	0	get 0.0000% / 4h	1h 31m	$336K	$984K	50x
Short	Phemex XBRUSDT	96.920	0	get 0.0000% / 4h	1h 31m	$1.2M	$85K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.018%Rate

Funding earned: $0
Price spread: +0.018% → +0.229%: −$21.16
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$41.16
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 37 min ago; Phemex: live order book, 1 min ago. 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, 37 min ago	2.06 bp	6.1 bp −$6	6.3 bp −$63	58.2 bp −$5,816	doesn't fit
Sell Phemex live order book, 1 min ago	8.76 bp	doesn't fit	doesn't fit	doesn't fit	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	96.164	−0.763%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	−0.055%	$233K	$426K	15x	as long as short
Aster BZUSDTlong	0.0000%	4h	96.903	long leg	$336K	$984K	50x
Binance BZUSDT	0.0000%	4h	96.904	+0.001%	$146.7M	$374.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.870	−0.034%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.900	−0.003%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.901	−0.002%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.860	−0.044%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	−0.003%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.786	−0.121%	$9.3M	$7.1M	—	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	96.909	+0.006%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.930	+0.028%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	+0.007%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.870	−0.034%	$278K	$269K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	96.920	+0.018%	$1.2M	$85K	100x
edgeX BZUSDC	+0.0001%	4h	96.864	−0.041%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.447	+0.561%	—	—	—	as long as short
BloFin BZ-USDT	+0.0025%	4h	96.900	−0.003%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.900	−0.003%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.915	+0.013%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.97	+4.197%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.901	−0.002%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.918	+0.016%	$151.9M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.965	+0.064%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.880	−0.024%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.920	+0.018%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.970	+0.069%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.870	−0.034%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0170%	1h	96.896	−0.007%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0046%	1h	96.905	+0.002%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.927	+0.025%	$83K	$218K	20x	as long as short