BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.2579%/8h= +282.4% APRnext payment +$3.22 per $10,000 · paid last 24h +0.030%

Price spread now: GMX against Coinbase International−0.005%7-day average +0.108% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Coinbase International Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.240%+$24 on $10k

Price spread, last 4 days (all we have)+0.046%+$5 · spread now −0.005%, 7d avg +0.108%

Together, before fees+0.285%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. GMX is 0.114% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.005% now, against its 7-day average of +0.108%). If the spread goes back, that is −$11 on $10k: about 4 hours of funding at the current rate (+$77 a day). At the pace of the last 3 days (+0.240% in total) that is about 39 hours.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.240% in total (about 25.8% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.22 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.530	−0.0096	get 0.0012% / 1h	33m 53s	$235K	$434K	15x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.525	L +0.0309% / S −0.2483%	get 0.0310% / 1h	33m 53s	$115K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpOrdersPrice spread, now −0.005%Rate

Funding earned: $541.64
Price spread: −0.005% → +0.108%: −$11.36
Slippage, 4 orders: no order book: not counted
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $508.28
Costs to cover: 0.220%
Break-even: 0.4 days

Slippage unknown: Coinbase International: live order book, 14 min ago; GMX: no order-book sample. Net counts fees only.

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, 14 min ago	1.03 bp	6.5 bp −$6	10.4 bp −$104	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.783	−0.766%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0096%	1h	97.530	long leg	$235K	$434K	15x
Aster BZUSDT	0.0000%	4h	97.498	−0.033%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.500	−0.031%	$147.7M	$362.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.500	−0.031%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.510	−0.021%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.504	−0.027%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.460	−0.072%	$9.2M	$11.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.500	−0.031%	$28.0M	$16.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.500	−0.031%	$9.4M	$7.0M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.507	−0.023%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.540	+0.010%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.530	0.000%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.490	−0.041%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	−0.021%	$1.2M	$83K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	97.498	−0.033%	$224K	$228K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.534	+0.004%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.070	+0.553%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.540	+0.010%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0018%	1h	101.58	+4.153%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0027%	4h	97.520	−0.010%	$1.5M	$97K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.520	−0.010%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.500	−0.031%	$680K	$3.7M	10x	as long as short
Aftermath Perps BRENTUSD	+0.0049%	1h	97.540	+0.010%	$7K	$42K	5x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.516	−0.015%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.517	−0.013%	$153.9M	$124.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.566	+0.037%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.470	−0.062%	$3.1M	$1.0M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.540	+0.010%	$3.8M	$840K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.510	−0.021%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0309% / S −0.2483%	1h	97.525	−0.005%	$115K	—	111x