BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0207%/8h= −22.7% APRnext payment −$0.26 per $10,000 · paid last 24h +0.012%

Price spread now: Deribit against Coinbase International−0.144%7-day average +0.118% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$53as in the Price arb table

costs, in and out, $10k−$260.264% of the position

Long on Coinbase International Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.166%−$17 on $10k

Price spread, last 4 days (all we have)+0.184%+$18 · spread now −0.144%, 7d avg +0.118%

Together, before fees+0.018%+$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Deribit is 0.261% cheaper against Coinbase International than usual: you would sell low and buy high (−$26 if the spread goes back to its 7-day average of +0.118%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.480	−0.0056	get 0.0007% / 1h	44m 45s	$237K	$402K	15x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.340	−0.0263	pay 0.0033% / 1h	44m 45s	$100K	$259K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$43.55
Price spread: −0.144% → +0.118%: −$26.14
Slippage, 4 orders: −$9.38
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$96.07
Costs to cover: 0.264%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 53 min ago; Deribit: live order book, 54 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, 53 min ago	2.06 bp	7.2 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit
Sell Deribit live order book, 54 min ago	0.51 bp	4.0 bp −$4	5.1 bp −$51	doesn't fit	doesn't fit

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
Deribit BRENTOIL_USDC-PERPETUALshort	−0.0263%	1h	97.340	−0.144%	$100K	$259K	15x
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−1.167%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERP	−0.0128%	1h	97.370	−0.113%	$34K	—	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0066%	1h	97.280	−0.205%	$3.1M	$990K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0056%	1h	97.480	long leg	$237K	$402K	15x
RISEx BZ/USDC	−0.0039%	1h	97.332	−0.152%	$2.4M	$1.7M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0034%	4h	97.302	−0.183%	$14K	$332K	25x	as long as short
BloFin BZ-USDT	−0.0026%	4h	97.340	−0.144%	$1.5M	$99K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.360	−0.123%	$82K	$198K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.454	−0.027%	$339K	$761K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BZUSDT	0.0000%	4h	97.460	−0.020%	$149.1M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.430	−0.051%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.410	−0.072%	$16.1M	$19.9M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.260	−0.226%	$9.2M	$10.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.370	−0.113%	$28.0M	$18.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.339	−0.145%	$9.4M	$6.1M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.360	−0.123%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.270	−0.215%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.470	−0.010%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	97.270	−0.215%	$223K	$229K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.34	+3.960%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.908	+0.439%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.450	−0.031%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.362	−0.121%	$747K	$2.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	97.352	−0.132%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.480	0.000%	$155.5M	$116.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.365	−0.118%	$1.6M	$370K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0074%	1h	97.343	−0.141%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.290	−0.195%	$3.8M	$798K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.300	−0.185%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.345	−0.138%	$116K	—	111x	as long as short