Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h +0.038%

Price spread now: BloFin against Coinbase International−0.021%7-day average +0.098% · you buy dearer than you sell

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$280.281% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.219%+$22 on $10k

Price spread, last 3 days (all we have)+0.024%+$2 · spread now −0.021%, 7d avg +0.098%

Together, before fees+0.243%+$24 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.119% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.021% now, against its 7-day average of +0.098%). If the spread goes back, that is −$12 on $10k: about 35 days of funding at the current rate ($0 a day). At the pace of the last 7 days (+0.219% in total) that is about 3.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	96.050	−0.0016	get 0.0002% / 1h	16m 58s	$232K	$638K	15x
Short	BloFin BZ-USDT	96.030	−0.0005	pay 0.0002% / 4h	1h 16m	$1.5M	$95K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.021%Rate

Funding earned: $2.37
Price spread: −0.021% → +0.098%: −$11.91
Slippage, 4 orders: −$6.06
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$37.6
Costs to cover: 0.281%
Break-even: 118.3 days

Slippage from Coinbase International: live order book, 1 min ago; BloFin: live order book, 6 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, 1 min ago	1.56 bp	6.7 bp −$7	10.2 bp −$102	doesn't fit	doesn't fit
Sell BloFin live order book, 6 min ago	0.52 bp	7.6 bp −$8	10.1 bp −$101	22.8 bp −$2,276	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	96.035	−0.016%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.834%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.035	−0.016%	$2.2M	$1.3M	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0065%	1h	96.020	−0.031%	$3.0M	$1.1M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0016%	1h	96.050	long leg	$232K	$638K	15x
BloFin BZ-USDTshort	−0.0005%	4h	96.030	−0.021%	$1.5M	$95K	50x
Aster BZUSDT	0.0000%	4h	96.036	−0.015%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.031	−0.020%	$145.7M	$476.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.020	−0.031%	$10.3M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.000	−0.052%	$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	95.990	−0.062%	$9.2M	$18.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.000	−0.052%	$27.4M	$21.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.963	−0.091%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.005	−0.047%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.040	−0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.060	+0.010%	$103K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.960	−0.094%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.030	−0.021%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	0.0000%	4h	95.954	−0.100%	$220K	$233K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0005%	1h	96.051	+0.001%	$6K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0016%	8h	96.033	−0.018%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.020	−0.031%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.931	−0.124%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.04	+4.154%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.071	+0.022%	$147.8M	$146.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.096	+0.048%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.060	+0.010%	$3.8M	$999K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.030	−0.021%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0208%	1h	96.090	+0.042%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.067	+0.017%	$81K	$235K	20x	as long as short