BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0402%/8h= +44.1% APRnext payment +$0.50 per $10,000 · paid last 24h +0.050%

Price spread now: Kraken Futures against Coinbase International+0.143%7-day average +0.118% · you sell dearer than you buy

Net, funding: paid 7d − costs−$115as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$450.450% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.701%−$70 on $10k

Price spread, last 3 days (all we have)−0.205%−$21 · spread now +0.143%, 7d avg +0.118%

Together, before fees−0.907%−$91 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Kraken Futures is 0.025% dearer against Coinbase International than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.118%. Mind the row above: over the last 7 days funding on this pair cost −0.701%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	96.810	−0.0104	get 0.0013% / 1h	53m 30s	$234K	$425K	15x
Short	Kraken Futures PF_BRENTOILUSD	96.948	0.0298	get 0.0037% / 1h	53m 30s	$83K	$218K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.143%Rate

Funding earned: $84.51
Price spread: +0.143% → +0.118%: $2.46
Slippage, 4 orders: −$24.99
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $41.97
Costs to cover: 0.450%
Break-even: 3.5 days

Slippage from Coinbase International: live order book, 10 min ago; Kraken Futures: live order book, 9 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, 10 min ago	0.52 bp	6.6 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 9 min ago	3.20 bp	16.1 bp −$16	34.1 bp −$341	doesn't fit	doesn't fit

BZ on 30 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	96.207	−0.623%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0104%	1h	96.810	long leg	$234K	$425K	15x
Aster BZUSDT	0.0000%	4h	96.887	+0.079%	$336K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.916	+0.110%	$146.5M	$375.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.900	+0.093%	$10.3M	$13.5M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.930	+0.124%	$15.9M	$20.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.890	+0.083%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.920	+0.114%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.860	+0.052%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	+0.093%	$27.4M	$16.4M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	96.939	+0.133%	$9.3M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.949	+0.143%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.930	+0.124%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.920	+0.114%	$103K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.930	+0.124%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.930	+0.124%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.441	+0.652%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	96.922	+0.116%	$222K	$227K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.920	+0.114%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.860	+0.052%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.96	+4.287%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.887	+0.079%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.921	+0.115%	$151.8M	$125.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.966	+0.161%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.850	+0.041%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.960	+0.155%	$3.8M	$877K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.950	+0.145%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0180% / S +0.0065%	1h	96.905	+0.098%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0209%	1h	96.955	+0.150%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0298%	1h	96.948	+0.143%	$83K	$218K	20x