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 +0.077%

Price spread now: Phemex against Bitget+0.073%7-day average +0.208% · you sell dearer than you buy

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

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.602%+$60 on $10k

Price spread, last 3 days (all we have)+0.183%+$18 · spread now +0.073%, 7d avg +0.208%

Together, before fees+0.785%+$79 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 0.135% cheaper against Bitget than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of +0.208%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BZUSDT	96.190	0	get 0.0000% / 4h	3h 56m	$27.6M	$20.1M	100x
Short	Phemex XBRUSDT	96.260	0	get 0.0000% / 4h	3h 56m	$1.2M	$95K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.073%Rate

Funding earned: $0
Price spread: +0.073% → +0.208%: −$13.53
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$37.53
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 2 min ago; Phemex: live order book, 1 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 Bitget live order book, 2 min ago	0.52 bp	7.2 bp −$7	9.9 bp −$99	26.7 bp −$2,666	47.8 bp −$23.9K
Sell Phemex live order book, 1 min ago	13.47 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.155	−0.036%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.707%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.125%	$232K	$483K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.173	−0.018%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.150	−0.042%	$145.7M	$440.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.170	−0.021%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.160	−0.031%	$15.8M	$25.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.170	−0.021%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.120	−0.073%	$9.2M	$14.2M	100x	as long as short
Bitget BZUSDTlong	0.0000%	4h	96.190	long leg	$27.6M	$20.1M	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	96.202	+0.012%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	+0.031%	$34K	$365K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.170	−0.021%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.150	−0.042%	$103K	$272K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.230	+0.042%	$306K	$249K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	96.260	+0.073%	$1.2M	$95K	100x
edgeX BZUSDC	+0.0008%	4h	96.249	+0.061%	$220K	$232K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.688	+0.518%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.149	−0.043%	$83K	$233K	20x	as long as short
BloFin BZ-USDT	+0.0027%	4h	96.140	−0.052%	$1.5M	$95K	50x	as long as short
Paradex BZ-USD-PERP	+0.0036%	8h	96.154	−0.038%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.26	+4.231%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.173	−0.018%	$150.9M	$144.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.207	+0.018%	$1.5M	$502K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.080	−0.114%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.180	−0.010%	$33K	—	20x	as long as short
Lighter BRENTOIL	+0.0072%	1h	96.160	−0.031%	$3.4M	$4.2M	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.130	−0.062%	$3.8M	$990K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.230	+0.042%	$25K	$271K	50x	as long as short
Extended XBR-USD	+0.0168%	1h	96.198	+0.009%	$762K	$5.3M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0655%	1h	96.107	−0.086%	$6K	$44K	5x	as long as short