Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against Bitget−0.025%7-day average +0.007% · you buy dearer than you sell

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$350.346% of the position

Long on Bitget Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.138%+$14 on $10k

Price spread, last 7 days+0.010%+$1 · spread now −0.025%, 7d avg +0.007%

Together, before fees+0.147%+ Points / potential airdroptradeXYZ: Active · farm board+$15 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.032% cheaper against Bitget than usual: you would sell low and buy high (spread −0.025% now, against its 7-day average of +0.007%). If the spread goes back, that is −$3 on $10k: about 2.1 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BZUSDT	97.570	0	get 0.0000% / 4h	2h 06m	$27.7M	$17.2M	100x
Short	tradeXYZ xyz:BRENTOIL	97.546	0.0050	get 0.0006% / 1h	6m 36s	$154.3M	$122.8M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.025%Rate

Funding earned: $10.5
Price spread: −0.025% → +0.007%: −$3.2
Slippage, 4 orders: −$4.6
Fee Bitget: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$27.29
Costs to cover: 0.346%
Break-even: 25.2 days

Slippage from Bitget: live order book, 2 min ago; tradeXYZ: live order book, 13 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, 2 min ago	0.51 bp	7.4 bp −$7	9.9 bp −$99	24.0 bp −$2,396	41.3 bp −$20.6K
Sell tradeXYZ live order book, 13 min ago	0.20 bp	9.7 bp −$10	11.1 bp −$111	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	96.939	−0.647%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	−0.041%	$235K	$426K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0024%	1h	97.640	+0.072%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0001%	4h	97.560	−0.010%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.576	+0.006%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.562	−0.008%	$147.5M	$358.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.550	−0.020%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.540	−0.031%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.528	−0.043%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.500	−0.072%	$9.2M	$11.7M	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	97.570	long leg	$27.7M	$17.2M	100x
Variational Omni BZ	0.0000%	4h	97.668	+0.100%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.687	+0.120%	$34K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.590	+0.020%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.580	+0.010%	$100K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.630	+0.061%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.540	−0.031%	$1.2M	$81K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.573	+0.003%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.125	+0.569%	—	—	—	as long as short
Vest BZ-PERP	+0.0014%	1h	101.63	+4.161%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0018%	4h	97.666	+0.099%	$225K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.540	−0.031%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.553	−0.017%	$681K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.542	−0.029%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.546	−0.025%	$154.3M	$122.8M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.600	+0.031%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.520	−0.051%	$3.1M	$998K	15x	as long as short
Aftermath Perps BRENTUSD	+0.0071%	1h	97.625	+0.057%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.580	+0.010%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.690	+0.123%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.575	+0.005%	$116K	—	111x	as long as short