Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.025%

Price spread now: Gate against Coinbase International+0.093%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$24as in the Funding arb table

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

costs, in and out, $10k−$350.353% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.118%+$12 on $10k

Price spread, last 4 days (all we have)+0.090%+$9 · spread now +0.093%, 7d avg +0.059%

Together, before fees+0.207%+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Gate is 0.034% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.050	−0.0088	get 0.0011% / 1h	55m 10s	$233K	$438K	15x
Short	Gate BZ_USDT	97.140	0	get 0.0000% / 8h	3h 55m	$9.2M	$12.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.093%Rate

Funding earned: $18.48
Price spread: +0.093% → +0.059%: $3.38
Slippage, 4 orders: −$10.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$13.47
Costs to cover: 0.353%
Break-even: 12.1 days

Slippage from Coinbase International: live order book, 63 min ago; Gate: live order book, 3 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, 63 min ago	1.03 bp	6.7 bp −$7	10.7 bp −$107	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	1.03 bp	11.7 bp −$12	19.3 bp −$193	33.2 bp −$3,322	45.9 bp −$23.0K

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	96.333	−0.739%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0088%	1h	97.050	long leg	$233K	$438K	15x
BloFin BZ-USDT	−0.0011%	4h	97.200	+0.155%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.186	+0.140%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.190	+0.144%	$147.2M	$369.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.180	+0.134%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.180	+0.134%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.188	+0.143%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	97.140	+0.093%	$9.2M	$12.1M	100x
Bitget BZUSDT	0.0000%	4h	97.180	+0.134%	$27.8M	$16.6M	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	97.168	+0.122%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.187	+0.141%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.200	+0.155%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.190	+0.144%	$104K	$238K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	+0.031%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.200	+0.155%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.723	+0.694%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.149	+0.102%	$223K	$226K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.220	+0.175%	$33K	—	20x	as long as short
Vest BZ-PERP	+0.0031%	1h	101.22	+4.297%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.190	+0.144%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.195	+0.149%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.192	+0.147%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.212	+0.167%	$153.3M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.230	+0.185%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.140	+0.093%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.184	+0.138%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.230	+0.185%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.180	+0.134%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0118%	1h	97.127	+0.080%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0226% / S −0.0240%	1h	97.185	+0.139%	$126K	—	111x	as long as short