Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0023%/8h= −2.5% APRpaid last 24h −0.045%

Price spread now: Deribit against BloFin+0.010%57s7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

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

costs, in and out, $10k−$290.287% of the position

Long on BloFin Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.346%−$35 on $10k

Price spread, last 3 days (all we have)+0.017%+$2 · spread now +0.010%, 7d avg +0.017%

Together, before fees−0.329%−$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.017%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate. The two prices were read 57 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	BloFin BZ-USDT	96.200	−0.0039	get 0.0019% / 4h	21m 59s	$1.5M	$96K	50x
Short	Deribit BRENTOIL_USDC-PERPETUAL	96.210	−0.0062	pay 0.0008% / 1h	21m 59s	$103K	$275K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against BloFin. 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 BloFinbpFee DeribitbpOrdersPrice spread, now +0.010%Rate

Funding earned: −$4.84
Price spread: +0.010% → +0.017%: −$0.63
Slippage, 4 orders: −$9.68
Fee BloFin: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$34.15
Costs to cover: 0.287%
Break-even: never at this rate

Slippage from BloFin: live order book, 1 min ago; Deribit: 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 BloFin live order book, 1 min ago	0.52 bp	6.9 bp −$7	10.2 bp −$102	21.6 bp −$2,159	doesn't fit
Sell Deribit live order book, 57 min ago	0.52 bp	11.2 bp −$11	11.4 bp −$114	doesn't fit	doesn't fit

BZ on 30 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	96.175	−0.026%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.348	−0.886%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0062%	1h	96.210	+0.010%	$103K	$275K	15x
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.135%	$232K	$570K	15x	as long as short
BloFin BZ-USDTlong	−0.0039%	4h	96.200	long leg	$1.5M	$96K	50x
RISEx BZ/USDC	−0.0020%	1h	96.185	−0.015%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.210	+0.010%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.180	−0.021%	$145.8M	$455.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.200	0.000%	$10.3M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.180	−0.021%	$15.8M	$26.7M	50x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.150	−0.052%	$9.2M	$16.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.190	−0.010%	$27.6M	$20.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.254	+0.056%	$9.3M	$7.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.259	+0.062%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.200	0.000%	$4K	$2.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.150	−0.052%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.360	+0.166%	$1.2M	$94K	100x	as long as short
edgeX BZUSDC	+0.0003%	4h	96.249	+0.051%	$220K	$232K	20x	as long as short
Paradex BZ-USD-PERP	+0.0025%	8h	96.178	−0.023%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.790	+3.732%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.233	+0.034%	$151.1M	$144.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.254	+0.056%	$1.5M	$527K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0071%	1h	96.270	+0.073%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.110	−0.094%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.260	+0.062%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0112%	1h	96.260	+0.062%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.226	+0.027%	$83K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0312%	1h	96.240	+0.042%	$3.3M	$4.3M	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0391%	1h	96.160	−0.042%	$3.1M	$1.1M	15x	as long as short
Extended XBR-USD	+0.0616%	1h	96.109	−0.094%	$670K	$5.2M	10x	as long as short