Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0058%/8h= −6.4% APRpaid last 24h −0.012%

Price spread now: Deribit against Binance0.000%7-day average −0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$230.231% of the position

Long on Binance Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.412%−$41 on $10k

Price spread, last 4 days (all we have)−0.030%−$3 · spread now 0.000%, 7d avg −0.023%

Together, before fees−0.442%−$44 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Deribit is 0.023% dearer against Binance than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.023%): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 31 hours. At the pace of the last 4 days (−0.412% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	97.280	0	get 0.0000% / 4h	3h 50m	$147.3M	$368.1M	100x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.280	−0.0058	pay 0.0007% / 1h	50m 45s	$104K	$239K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$12.24
Price spread: 0.000% → −0.023%: $2.27
Slippage, 4 orders: −$6.14
Fee Binance: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$33.11
Costs to cover: 0.231%
Break-even: never at this rate

Slippage from Binance: live order book, 8 min ago; Deribit: 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 Binance live order book, 8 min ago	0.51 bp	5.5 bp −$6	6.7 bp −$67	13.7 bp −$1,373	42.5 bp −$21.3K
Sell Deribit live order book, 3 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	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	96.333	−0.973%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.010%	$233K	$439K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0058%	1h	97.280	0.000%	$104K	$239K	15x
Aster BZUSDT	0.0000%	4h	97.266	−0.014%	$338K	$933K	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	97.280	long leg	$147.3M	$368.1M	100x
Bybit BZUSDT	0.0000%	8h	97.270	−0.010%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.280	0.000%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.283	+0.003%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.230	−0.051%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.280	0.000%	$27.8M	$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	97.258	−0.023%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.183	−0.100%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.210	−0.072%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.144%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.280	0.000%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	97.290	+0.010%	$1.5M	$92K	50x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.161	−0.122%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.835	+0.571%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	97.250	−0.031%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0030%	1h	101.29	+4.122%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.300	+0.021%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.309	+0.030%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.288	+0.008%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.311	+0.032%	$153.5M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.318	+0.039%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.230	−0.051%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.285	+0.006%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.310	+0.031%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	−0.051%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0114%	1h	97.201	−0.081%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0229% / S −0.0263%	1h	97.275	−0.005%	$126K	—	111x	as long as short