Funding arb · Price arb /

BZ

RWAall BZ markets

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 +0.018%

Price spread now: Phemex against Binance−0.031%7-day average +0.169% · you buy dearer than you sell

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

Long on Binance Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.422%+$42 on $10k

Price spread, last 2 days (all we have)+0.178%+$18 · spread now −0.031%, 7d avg +0.169%

Together, before fees+0.601%+$60 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 0.200% cheaper against Binance than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.169%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BZUSDT	96.840	0	get 0.0000% / 4h	2h 48m	$146.0M	$393.4M	100x
Short	Phemex XBRUSDT	96.810	0	get 0.0000% / 4h	2h 48m	$1.2M	$88K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → +0.169%: −$20.01
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$42.01
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 10 min ago; Phemex: live order book, 4 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 Binance live order book, 10 min ago	0.52 bp	5.5 bp −$6	6.6 bp −$66	14.3 bp −$1,426	48.3 bp −$24.2K
Sell Phemex live order book, 4 min ago	0.52 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	95.962	−0.907%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.196%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.083%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.829	−0.012%	$336K	$1.2M	50x	as long as short
Binance BZUSDTlong	0.0000%	4h	96.840	long leg	$146.0M	$393.4M	100x
Bybit BZUSDT	0.0000%	8h	96.810	−0.031%	$10.3M	$14.5M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.830	−0.010%	$15.9M	$23.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.797	−0.045%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.770	−0.072%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.810	−0.031%	$27.7M	$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	96.860	+0.021%	$9.4M	$7.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.840	0.000%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.790	−0.052%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.800	−0.041%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.800	−0.041%	$308K	$223K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	96.810	−0.031%	$1.2M	$88K	100x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.304	+0.479%	—	—	—	as long as short
edgeX BZUSDC	+0.0017%	4h	96.807	−0.034%	$222K	$233K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	96.850	+0.010%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.840	0.000%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.819	−0.022%	$673K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.85	+4.141%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.806	−0.035%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.857	+0.018%	$151.7M	$132.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.892	+0.054%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.730	−0.114%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.850	+0.010%	$3.8M	$915K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.870	+0.031%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0203% / S +0.0112%	1h	96.765	−0.077%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.793	−0.048%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0294%	1h	96.822	−0.019%	$7K	$44K	5x	as long as short