Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0029%/8h= +3.2% APRpaid last 24h +0.020%

Price spread now: tradeXYZ against BloFin−0.027%7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on BloFin Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.105%+$11 on $10k

Price spread, last 4 days (all we have)+0.174%+$17 · spread now −0.027%, 7d avg +0.083%

Together, before fees+0.279%+ Points / potential airdroptradeXYZ: Active · farm board+$28 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.109% cheaper against BloFin than usual: you would sell low and buy high (spread −0.027% now, against its 7-day average of +0.083%). If the spread goes back, that is −$11 on $10k: about 13 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BZ-USDT	94.200	0.0000	pay 0.0000% / 4h	1h 45m	$1.5M	$114K	50x
Short	tradeXYZ xyz:BRENTOIL	94.175	0.0029	get 0.0004% / 1h	45m 00s	$130.6M	$185.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.027%Rate

Funding earned: $6.04
Price spread: −0.027% → +0.083%: −$10.92
Slippage, 4 orders: −$5.98
Fee BloFin: 6 bp × 2 orders: −$12
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$40.86
Costs to cover: 0.360%
Break-even: 54.3 days

Slippage from BloFin: live order book, 6 min ago; tradeXYZ: live order book, 8 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, 6 min ago	1.60 bp	8.6 bp −$9	10.6 bp −$106	28.6 bp −$2,859	doesn't fit
Sell tradeXYZ live order book, 8 min ago	0.69 bp	9.7 bp −$10	10.4 bp −$104	doesn't fit	doesn't fit

BZ on 31 exchanges

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
Hotstuff BRENTOIL-PERP	−0.1600%	1h	93.860	−0.361%	$32K	—	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0599%	1h	94.120	−0.085%	$39K	$378K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0342%	1h	94.183	−0.018%	$100K	$269K	20x	as long as short
RISEx BZ/USDC	−0.0302%	1h	94.140	−0.064%	$2.2M	$2.1M	20x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	94.836	+0.675%	$8K	$7K	30x	as long as short
Bybit BZUSDT	−0.0091%	8h	94.190	−0.011%	$10.7M	$16.9M	100x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	93.840	−0.382%	$245K	$1.0M	15x	as long as short
GRVT BZ_USDT_Perp	−0.0078%	4h	93.835	−0.388%	$13K	$299K	25x	as long as short
Binance BZUSDT	−0.0035%	4h	94.190	−0.011%	$145.3M	$472.4M	100x	as long as short
edgeX BZUSDC	−0.0017%	4h	93.841	−0.381%	$216K	$232K	20x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	94.186	−0.015%	$323K	$812K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.170	−0.032%	$15.8M	$28.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.100	−0.106%	$8.8M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.190	−0.011%	$27.7M	$30.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	93.961	−0.254%	$9.0M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.200	0.000%	$4K	$1.7M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	93.910	−0.308%	$267K	$265K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.240	+0.042%	$1.2M	$80K	100x	as long as short
BloFin BZ-USDTlong	0.0000%	4h	94.200	long leg	$1.5M	$114K	50x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.666	+0.495%	—	—	—	as long as short
Vest BZ-PERP	+0.0018%	1h	97.870	+3.896%	—	$736K	10x	as long as short
Aftermath Perps BRENTUSD	+0.0025%	1h	94.044	−0.166%	$7K	$38K	5x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	94.149	−0.055%	$1K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0029%	1h	94.175	−0.027%	$130.6M	$185.7M	20x
Lighter BRENTOIL	+0.0032%	1h	94.120	−0.085%	$3.4M	$5.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.213	+0.013%	$762K	$3.8M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.140	−0.064%	$3.0M	$1.2M	15x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.200	0.000%	$1.5M	$487K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.130	−0.074%	$3.5M	$1.2M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	93.860	−0.361%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	94.125	−0.080%	$32K	—	111x	as long as short