Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0298%/8h= +32.7% APRpaid last 24h +0.023%

Price spread now: Kraken Futures against Binance+0.048%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$140as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.959%−$96 on $10k

Price spread, last 2 days (all we have)+0.049%+$5 · spread now +0.048%, 7d avg +0.053%

Together, before fees−0.910%−$91 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.053%, so right now this pair is about funding alone: +$9 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.959%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	96.920	0	get 0.0000% / 4h	1h 55m	$146.5M	$376.1M	100x
Short	Kraken Futures PF_BRENTOILUSD	96.967	0.0298	get 0.0037% / 1h	55m 04s	$84K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.048%Rate

Funding earned: $62.65
Price spread: +0.048% → +0.053%: −$0.46
Slippage, 4 orders: −$23.87
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $18.32
Costs to cover: 0.439%
Break-even: 5.0 days

Slippage from Binance: live order book, 4 min ago; Kraken Futures: live order book, 7 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, 4 min ago	0.52 bp	5.5 bp −$6	6.0 bp −$60	11.6 bp −$1,162	42.0 bp −$21.0K
Sell Kraken Futures live order book, 7 min ago	3.20 bp	16.1 bp −$16	34.1 bp −$341	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
Injective BRENT/USDC PERP	−0.0220%	1h	96.207	−0.736%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.810	−0.113%	$234K	$425K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.933	+0.013%	$337K	$998K	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	96.920	long leg	$146.5M	$376.1M	100x
Bybit BZUSDT	0.0000%	8h	96.910	−0.010%	$10.3M	$13.5M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.930	+0.010%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.920	0.000%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.880	−0.041%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.930	+0.010%	$27.4M	$16.2M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.939	+0.020%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.949	+0.030%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.950	+0.031%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.950	+0.031%	$103K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.930	+0.010%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.940	+0.021%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	96.941	+0.022%	$222K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.477	+0.575%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.930	+0.010%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.953	+0.034%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.99	+4.199%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.924	+0.004%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.929	+0.009%	$151.8M	$127.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.975	+0.057%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.890	−0.031%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.000	+0.083%	$3.8M	$877K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.950	+0.031%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	96.980	+0.062%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0066%	1h	96.935	+0.015%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0209%	1h	96.949	+0.030%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0298%	1h	96.967	+0.048%	$84K	$218K	20x