Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0040%/8h= −4.4% APRpaid last 24h −0.078%

Price spread now: Coinbase International against Binance+0.083%7-day average −0.122% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4as in the Price arb table

costs, in and out, $10k−$240.244% of the position

Long on Binance Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.265%−$26 on $10k

Price spread, last 2 days (all we have)−0.578%−$58 · spread now +0.083%, 7d avg −0.122%

Together, before fees−0.842%−$84 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.206% dearer against Binance than usual: you sell high and buy low (spread +0.083% now, against its 7-day average of −0.122%): +$21 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 17 days. At the pace of the last 7 days (−0.265% in total) that is about 5.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	95.980	0	get 0.0000% / 4h	47m 05s	$145.7M	$469.9M	100x
Short	Coinbase International BRENTOIL-PERP-INTX	96.060	−0.0040	pay 0.0005% / 1h	47m 05s	$232K	$577K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Binance. 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 BinancebpFee Coinbase InternationalbpOrdersPrice spread, now +0.083%Rate

Funding earned: −$8.4
Price spread: +0.083% → −0.122%: $20.55
Slippage, 4 orders: −$4.35
Fee Binance: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$12.2
Costs to cover: 0.244%
Break-even: never at this rate

Slippage from Binance: live order book, 12 min ago; Coinbase International: live order book, 31 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 Binance live order book, 12 min ago	0.52 bp	5.5 bp −$6	6.0 bp −$60	14.8 bp −$1,479	56.8 bp −$28.4K
Sell Coinbase International live order book, 31 min ago	1.56 bp	6.6 bp −$7	9.5 bp −$95	doesn't fit	doesn't fit

BZ on 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	95.975	−0.005%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.369	−0.637%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOIL	−0.0163%	1h	96.016	+0.038%	$147.7M	$143.8M	20x	as long as short
BloFin BZ-USDT	−0.0045%	4h	95.960	−0.021%	$1.5M	$95K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0040%	1h	96.060	+0.083%	$232K	$577K	15x
RISEx BZ/USDC	−0.0020%	1h	95.980	0.000%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.100	+0.125%	$334K	$1.4M	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	95.980	long leg	$145.7M	$469.9M	100x
Bybit BZUSDT	0.0000%	8h	95.980	0.000%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.970	−0.010%	$15.8M	$26.9M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.030	+0.052%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	95.930	−0.052%	$9.2M	$16.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.980	0.000%	$27.4M	$21.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.963	−0.018%	$9.3M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.970	−0.010%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.000	+0.021%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.010	+0.031%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.940	−0.042%	$305K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.980	0.000%	$1.2M	$96K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	95.954	−0.027%	$220K	$234K	20x	as long as short
Paradex BZ-USD-PERP	+0.0012%	8h	95.955	−0.026%	$3K	$521	5x	as long as short
Aftermath Perps BRENTUSD	+0.0029%	1h	96.054	+0.077%	$6K	$45K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.000	+0.021%	$3.3M	$4.3M	20x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.710	+3.886%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.056	+0.079%	$1.5M	$529K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	95.930	−0.052%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.990	+0.010%	$3.7M	$991K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.970	−0.010%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.020	+0.041%	$81K	$235K	20x	as long as short
Extended XBR-USD	+0.0192%	1h	96.006	+0.027%	$671K	$5.2M	10x	as long as short