Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0467%/8h= −51.1% APRpaid last 24h −0.050%

Price spread now: GMX against Binance−0.073%7-day average −0.017% · you buy dearer than you sell

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

Long on Binance Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.013%−$1 on $10k

Price spread, last 2 days (all we have)+0.078%+$8 · spread now −0.073%, 7d avg −0.017%

Together, before fees+0.064%+$6 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and GMX is 0.055% cheaper against Binance than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.017%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.013% in total (about -1.6% 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	Binance BZUSDT	96.075	0	get 0.0000% / 4h	1h 19m	$145.8M	$477.4M	100x
Short	GMX BRENTOIL/USD [ETH-USDC]	96.005	L −0.0848% / S +0.0467%	pay 0.0058% / 1h	19m 51s	$120K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$98
Price spread: −0.073% → −0.017%: −$5.52
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$125.52
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 9 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 Binance live order book, 9 min ago	0.52 bp	5.5 bp −$6	6.2 bp −$62	15.1 bp −$1,510	59.5 bp −$29.8K
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 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]short	L −0.0848% / S +0.0467%	1h	96.005	−0.073%	$120K	—	111x
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−1.029%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0115%	1h	95.960	−0.119%	$3.0M	$1.1M	15x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.996	−0.082%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	−0.026%	$232K	$638K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.007	−0.070%	$334K	$1.5M	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	96.075	long leg	$145.8M	$477.4M	100x
Bybit BZUSDT	0.0000%	8h	96.070	−0.005%	$10.3M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.040	−0.036%	$15.8M	$27.4M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	96.020	−0.057%	$9.2M	$18.0M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.010	−0.067%	$27.5M	$21.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.963	−0.116%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.929	−0.152%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.030	−0.047%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.030	−0.047%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.119%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.000	−0.078%	$1.2M	$101K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	95.921	−0.160%	$220K	$233K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0003%	1h	95.997	−0.081%	$5K	$45K	5x	as long as short
BloFin BZ-USDT	+0.0003%	4h	95.930	−0.151%	$1.5M	$95K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	96.040	−0.036%	$33K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0014%	8h	96.009	−0.069%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.970	−0.109%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.919	−0.162%	$670K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.02	+4.106%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.041	−0.035%	$147.7M	$146.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.062	−0.013%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.040	−0.036%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.900	−0.182%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.050	−0.026%	$81K	$235K	20x	as long as short