Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0009%/8h= +1.0% APRpaid last 24h +0.018%

Price spread now: Kraken Futures against Bitget+0.006%48s7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$137as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.495% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.870%−$87 on $10k

Price spread, last 4 days (all we have)−0.187%−$19 · spread now +0.006%, 7d avg +0.001%

Together, before fees−1.058%−$106 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: $0 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.870%, so the current rate has only just turned in your favour. The two prices were read 48 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BZUSDT	97.530	0	get 0.0000% / 4h	2h 35m	$28.0M	$16.5M	100x
Short	Kraken Futures PF_BRENTOILUSD	97.535	0.0009	get 0.0001% / 1h	35m 29s	$82K	$208K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.006%Rate

Funding earned: $1.96
Price spread: +0.006% → +0.001%: $0.46
Slippage, 4 orders: −$27.54
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$47.13
Costs to cover: 0.495%
Break-even: 175.7 days

Slippage from Bitget: live order book, 3 min ago; Kraken Futures: live order book, 12 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	7.9 bp −$8	10.7 bp −$107	27.0 bp −$2,698	43.9 bp −$22.0K
Sell Kraken Futures live order book, 12 min ago	5.43 bp	22.3 bp −$22	38.0 bp −$380	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	96.783	−0.766%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	0.000%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0045%	4h	97.520	−0.010%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.536	+0.006%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.523	−0.008%	$147.7M	$362.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.530	0.000%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.520	−0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.507	−0.024%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.490	−0.041%	$9.3M	$11.6M	100x	as long as short
Bitget BZUSDTlong	0.0000%	4h	97.530	long leg	$28.0M	$16.5M	100x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.500	−0.031%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.507	−0.023%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.530	0.000%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.520	−0.010%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.470	−0.062%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.520	−0.010%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.498	−0.033%	$224K	$228K	20x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0009%	1h	97.535	+0.006%	$82K	$208K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.071	+0.554%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	101.60	+4.173%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	97.550	+0.021%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.540	+0.010%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.541	+0.012%	$680K	$3.7M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0049%	1h	97.540	+0.010%	$7K	$42K	5x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.525	−0.005%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.553	+0.024%	$153.9M	$124.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.568	+0.039%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.490	−0.041%	$3.1M	$1.0M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.550	+0.021%	$3.8M	$835K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.510	−0.021%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0308% / S −0.2460%	1h	97.525	−0.005%	$115K	—	111x	as long as short