Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.027%

Price spread now: edgeX against Coinbase International−0.214%7-day average +0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$15as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$420.418% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.265%+$26 on $10k

Price spread, last 4 days (all we have)+0.279%+$28 · spread now −0.214%, 7d avg +0.084%

Together, before fees+0.543%+ Points / potential airdropedgeX: Active · farm board+$54 on $10k · with fees, hour by hour

Funding pays, the price is against you. edgeX is 0.298% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.214% now, against its 7-day average of +0.084%). If the spread goes back, that is −$30 on $10k: about 11 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	97.700	−0.0088	get 0.0011% / 1h	5m 02s	$237K	$417K	15x
Short	edgeX BZUSDC	97.490	0.0003	get 0.0001% / 4h	1h 05m	$225K	$228K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.214%Rate

Funding earned: $19.08
Price spread: −0.214% → +0.084%: −$29.82
Slippage, 4 orders: −$22.76
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$52.49
Costs to cover: 0.418%
Break-even: 26.3 days

Slippage from Coinbase International: live order book, 38 min ago; edgeX: live order book, 37 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, 38 min ago	1.02 bp	6.3 bp −$6	9.9 bp −$99	doesn't fit	doesn't fit
Sell edgeX live order book, 37 min ago	10.23 bp	14.7 bp −$15	16.7 bp −$167	65.9 bp −$6,592	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
Injective BRENT/USDC PERP	−0.0220%	1h	96.970	−0.747%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0088%	1h	97.700	long leg	$237K	$417K	15x
Hotstuff BRENTOIL-PERP	−0.0024%	1h	97.530	−0.174%	$34K	—	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.505	−0.200%	$339K	$880K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.491	−0.214%	$148.3M	$352.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.460	−0.246%	$10.3M	$13.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.500	−0.205%	$16.1M	$19.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.503	−0.202%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.460	−0.246%	$9.3M	$11.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.500	−0.205%	$27.8M	$17.5M	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	97.528	−0.176%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.500	−0.205%	$30K	$316K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.510	−0.194%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.500	−0.205%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.480	−0.225%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.570	−0.133%	$1.2M	$87K	100x	as long as short
edgeX BZUSDCshort	+0.0003%	4h	97.490	−0.214%	$225K	$228K	20x
Vest BZ-PERP	+0.0008%	1h	101.69	+4.084%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.067	+0.376%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.510	−0.194%	$3.3M	$4.1M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.501	−0.204%	$712K	$3.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.523	−0.181%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.519	−0.185%	$155.1M	$115.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.562	−0.141%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.480	−0.225%	$3.1M	$1.0M	15x	as long as short
BloFin BZ-USDT	+0.0055%	4h	97.490	−0.215%	$1.5M	$96K	50x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.470	−0.235%	$3.8M	$812K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.520	−0.184%	$26K	$273K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.554	−0.149%	$7K	$41K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0158%	1h	97.514	−0.191%	$82K	$204K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.515	−0.189%	$116K	—	111x	as long as short