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: GRVT against Coinbase International+0.137%7-day average +0.130% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$270.271% of the position

Long on Coinbase International Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.211%+$21 on $10k

Price spread, last 4 days (all we have)+0.119%+$12 · spread now +0.137%, 7d avg +0.130%

Together, before fees+0.330%+ Points / potential airdropGRVT: Active · farm board+$33 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.130%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.

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	51m 20s	$233K	$438K	15x
Short	GRVT BZ_USDT_Perp	97.183	0	get 0.0000% / 4h	3h 51m	$29K	$346K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.137%Rate

Funding earned: $18.48
Price spread: +0.137% → +0.130%: $0.74
Slippage, 4 orders: −$8.06
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$7.84
Costs to cover: 0.271%
Break-even: 10.0 days

Slippage from Coinbase International: live order book, 2 min ago; GRVT: live order book, 1 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, 2 min ago	1.54 bp	6.9 bp −$7	9.7 bp −$97	doesn't fit	doesn't fit
Sell GRVT live order book, 1 min ago	0.51 bp	7.7 bp −$8	11.1 bp −$111	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
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	−0.0003%	4h	97.180	+0.134%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.276	+0.233%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.280	+0.237%	$147.3M	$368.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.260	+0.216%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.260	+0.216%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.270	+0.227%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.220	+0.175%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.290	+0.247%	$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_Perpshort	0.0000%	4h	97.183	+0.137%	$29K	$346K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.210	+0.165%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.200	+0.155%	$104K	$239K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	+0.093%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.200	+0.155%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.161	+0.114%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.835	+0.809%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	97.250	+0.206%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0030%	1h	101.29	+4.369%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.210	+0.165%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.303	+0.260%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.268	+0.224%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.312	+0.270%	$153.5M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.318	+0.276%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.140	+0.093%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.208	+0.163%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.310	+0.268%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	+0.185%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0114%	1h	97.201	+0.156%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0229% / S −0.0263%	1h	97.275	+0.232%	$126K	—	111x	as long as short