Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.025%

Price spread now: Coinbase International against Bitget−0.010%7-day average −0.120% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$290.291% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.202%−$20 on $10k

Price spread, last 4 days (all we have)−0.152%−$15 · spread now −0.010%, 7d avg −0.120%

Together, before fees−0.353%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.110% dearer against Bitget than usual: you sell high and buy low (spread −0.010% now, against its 7-day average of −0.120%): +$11 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BZUSDT	97.470	0	get 0.0000% / 4h	2h 55m	$28.0M	$16.6M	100x
Short	Coinbase International BRENTOIL-PERP-INTX	97.460	−0.0096	pay 0.0012% / 1h	55m 53s	$237K	$443K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now −0.010%Rate

Funding earned: −$20.16
Price spread: −0.010% → −0.120%: $10.98
Slippage, 4 orders: −$7.08
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$38.25
Costs to cover: 0.291%
Break-even: never at this rate

Slippage from Bitget: live order book, 3 min ago; Coinbase International: live order book, 57 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 Bitget live order book, 3 min ago	0.51 bp	7.6 bp −$8	9.9 bp −$99	27.3 bp −$2,728	49.2 bp −$24.6K
Sell Coinbase International live order book, 57 min ago	1.54 bp	6.5 bp −$7	7.8 bp −$78	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	96.684	−0.806%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0096%	1h	97.460	−0.010%	$237K	$443K	15x
BloFin BZ-USDT	−0.0059%	4h	97.480	+0.010%	$1.5M	$97K	50x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0058%	1h	97.470	0.000%	$101K	$249K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.470	0.000%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.480	+0.010%	$147.4M	$365.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.470	0.000%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.490	+0.021%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.456	−0.014%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.440	−0.031%	$9.2M	$11.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDTlong	0.0000%	4h	97.470	long leg	$28.0M	$16.6M	100x
Variational Omni BZ	0.0000%	4h	97.458	−0.012%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.450	−0.021%	$26K	$314K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.480	+0.010%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.440	−0.031%	$280K	$264K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.041%	$1.2M	$83K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.490	+0.020%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.029	+0.573%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.430	−0.041%	$224K	$228K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.490	+0.021%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0021%	1h	101.54	+4.176%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.490	+0.021%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.492	+0.022%	$679K	$3.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.468	−0.002%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.479	+0.009%	$153.7M	$125.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.504	+0.035%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.400	−0.072%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0067%	1h	97.471	+0.001%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.550	+0.082%	$3.8M	$843K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.470	0.000%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0286% / S −0.2000%	1h	97.475	+0.005%	$115K	—	111x	as long as short