Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h −0.069%

Price spread now: Extended against BloFin−0.100%74s7-day average +0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as 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−$230.227% of the position

Long on BloFin Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)+0.368%+$37 · spread now −0.100%, 7d avg +0.024%

Together, before fees+0.405%+ Points / potential airdropExtended: Active · farm board+$40 on $10k · with fees, hour by hour

Funding pays, the price is against you. Extended is 0.124% cheaper against BloFin than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of +0.024%). If the spread goes back, that is −$12 on $10k: about 11 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.037% in total) that is about 23 days. The two prices were read 74 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	96.030	−0.0005	get 0.0002% / 4h	1h 15m	$1.5M	$95K	50x
Short	Extended XBR-USD	95.934	0.0032	get 0.0004% / 1h	15m 50s	$670K	$5.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.100%Rate

Funding earned: $7.71
Price spread: −0.100% → +0.024%: −$12.35
Slippage, 4 orders: −$5.7
Fee BloFin: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.34
Costs to cover: 0.227%
Break-even: 31.8 days

Slippage from BloFin: live order book, 2 min ago; Extended: live order book, 3 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, 2 min ago	0.52 bp	6.5 bp −$7	10.2 bp −$102	16.3 bp −$1,627	doesn't fit
Sell Extended live order book, 3 min ago	0.88 bp	3.8 bp −$4	21.9 bp −$219	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	96.005	−0.026%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.813%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.017	−0.013%	$2.2M	$1.3M	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0053%	1h	95.990	−0.042%	$3.0M	$1.1M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.021%	$232K	$638K	15x	as long as short
BloFin BZ-USDTlong	−0.0005%	4h	96.030	long leg	$1.5M	$95K	50x
Aster BZUSDT	0.0000%	4h	96.029	−0.001%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.020	−0.010%	$145.7M	$476.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.020	−0.010%	$10.3M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.990	−0.042%	$15.8M	$27.2M	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	95.970	−0.062%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.000	−0.031%	$27.4M	$21.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.963	−0.070%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.005	−0.026%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.030	0.000%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.030	0.000%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.940	−0.094%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.030	0.000%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	0.0000%	4h	95.954	−0.079%	$220K	$233K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0006%	1h	96.053	+0.024%	$6K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0017%	8h	96.004	−0.027%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.020	−0.010%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	95.934	−0.100%	$670K	$5.2M	10x
Vest BZ-PERP	+0.0046%	1h	100.04	+4.176%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.052	+0.023%	$147.8M	$146.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.076	+0.048%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.050	+0.021%	$3.8M	$999K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.030	0.000%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0208%	1h	96.070	+0.042%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.048	+0.019%	$81K	$235K	20x	as long as short