Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0056%/8h= +6.1% APRpaid last 24h +0.024%

Price spread now: HTX against Coinbase International−0.113%7-day average +0.068% · you buy dearer than you sell

Net, funding: paid 7d − costs−$12as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$320.325% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.200%+$20 on $10k

Price spread, last 4 days (all we have)+0.095%+$9 · spread now −0.113%, 7d avg +0.068%

Together, before fees+0.295%+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.181% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.113% now, against its 7-day average of +0.068%). If the spread goes back, that is −$18 on $10k: about 11 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	97.110	−0.0056	get 0.0007% / 1h	12m 52s	$236K	$416K	15x
Short	HTX BRENTOIL-USDT	97.000	0	get 0.0000% / 4h	12m 52s	$278K	$254K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.113%Rate

Funding earned: $11.76
Price spread: −0.113% → +0.068%: −$18.13
Slippage, 4 orders: −$10.45
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$38.83
Costs to cover: 0.325%
Break-even: 30.1 days

Slippage from Coinbase International: live order book, 25 min ago; HTX: live order book, 24 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, 25 min ago	2.06 bp	7.2 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit
Sell HTX live order book, 24 min ago	3.08 bp	9.1 bp −$9	10.5 bp −$105	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	96.342	−0.791%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0056%	1h	97.110	long leg	$236K	$416K	15x
Ondo Perps BRENT-USD.P	−0.0008%	1h	97.000	−0.113%	$3.1M	$996K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.088	−0.023%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.050	−0.062%	$148.0M	$351.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.040	−0.072%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.040	−0.072%	$16.0M	$19.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.029	−0.083%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.010	−0.103%	$9.2M	$11.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.060	−0.051%	$27.8M	$18.5M	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	97.090	−0.021%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.146	+0.037%	$17K	$319K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.070	−0.041%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.110	0.000%	$100K	$256K	15x	as long as short
HTX BRENTOIL-USDTshort	0.0000%	4h	97.000	−0.113%	$278K	$254K	75x
Phemex XBRUSDT	0.0000%	4h	97.500	+0.402%	$1.2M	$86K	100x	as long as short
edgeX BZUSDC	+0.0006%	4h	97.124	+0.015%	$223K	$230K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.11	+4.119%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.635	+0.541%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.100	−0.010%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.033	−0.080%	$728K	$2.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.070	−0.041%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.090	−0.021%	$155.1M	$115.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.099	−0.011%	$1.6M	$405K	20x	as long as short
BloFin BZ-USDT	+0.0055%	4h	97.090	−0.021%	$1.5M	$98K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0087%	1h	97.112	+0.002%	$7K	$40K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0096%	1h	97.190	+0.082%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.080	−0.031%	$3.8M	$803K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.150	+0.041%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.099	−0.011%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.135	+0.026%	$115K	—	111x	as long as short