Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0096%/8h= +10.5% APRpaid last 24h +0.023%

Price spread now: Binance against Coinbase International+0.062%7-day average +0.144% · you sell dearer than you buy

Net, funding: paid 7d − costs+$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$240.237% of the position

Long on Coinbase International Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 4 days (all we have)+0.055%+$5 · spread now +0.062%, 7d avg +0.144%

Together, before fees+0.306%+$31 on $10k · with fees, hour by hour

Funding pays, the price is against you. Binance is 0.082% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.062% now, against its 7-day average of +0.144%). If the spread goes back, that is −$8 on $10k: about 2.9 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.240	−0.0096	get 0.0012% / 1h	44m 34s	$234K	$437K	15x
Short	Binance BZUSDT	97.300	0	get 0.0000% / 4h	44m 34s	$147.1M	$371.3M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Coinbase International. 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 Coinbase InternationalbpFee BinancebpOrdersPrice spread, now +0.062%Rate

Funding earned: $20.16
Price spread: +0.062% → +0.144%: −$8.21
Slippage, 4 orders: −$3.71
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$11.76
Costs to cover: 0.237%
Break-even: 11.1 days

Slippage from Coinbase International: live order book, 13 min ago; Binance: live order book, 14 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 Coinbase International live order book, 13 min ago	1.03 bp	6.7 bp −$7	10.7 bp −$107	doesn't fit	doesn't fit
Sell Binance live order book, 14 min ago	0.51 bp	5.5 bp −$6	6.2 bp −$62	11.4 bp −$1,143	54.1 bp −$27.1K

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	96.376	−0.889%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0096%	1h	97.240	long leg	$234K	$437K	15x
BloFin BZ-USDT	−0.0049%	4h	97.260	+0.021%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.276	+0.037%	$338K	$954K	50x	as long as short
Binance BZUSDTshort	0.0000%	4h	97.300	+0.062%	$147.1M	$371.3M	100x
Bybit BZUSDT	0.0000%	8h	97.270	+0.031%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.280	+0.041%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.289	+0.050%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.240	0.000%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.290	+0.051%	$27.5M	$16.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.257	+0.017%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.264	+0.025%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.330	+0.093%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.300	+0.062%	$104K	$236K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.200	−0.041%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.300	+0.062%	$1.2M	$84K	100x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	97.320	+0.082%	$34K	—	20x	as long as short
edgeX BZUSDC	+0.0010%	4h	97.213	−0.028%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.855	+0.632%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.310	+0.072%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.312	+0.075%	$676K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0036%	1h	101.32	+4.196%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.293	+0.055%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.319	+0.081%	$152.6M	$124.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.344	+0.107%	$1.6M	$469K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.250	+0.010%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.320	+0.082%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.260	+0.021%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0105%	1h	97.270	+0.031%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.349	+0.112%	$84K	$207K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.305	+0.067%	$126K	—	111x	as long as short