Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0116%/8h= +12.7% APRpaid last 24h +0.098%

Price spread now: KuCoin against Coinbase International−0.271%7-day average +0.127% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$390.391% of the position

Long on Coinbase International Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.375%+$37 on $10k

Price spread, last 3 days (all we have)+0.423%+$42 · spread now −0.271%, 7d avg +0.127%

Together, before fees+0.797%+$80 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 0.397% cheaper against Coinbase International than usual: you would sell low and buy high (spread −0.271% now, against its 7-day average of +0.127%). If the spread goes back, that is −$40 on $10k: about 11 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International BRENTOIL-PERP-INTX	96.050	−0.0016	get 0.0002% / 1h	49m 19s	$232K	$680K	15x
Short	KuCoin BZUSDTM	95.790	0.0100	get 0.0050% / 4h	1h 49m	$3.8M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.271%Rate

Funding earned: $24.36
Price spread: −0.271% → +0.127%: −$39.74
Slippage, 4 orders: −$17.11
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$54.48
Costs to cover: 0.391%
Break-even: 22.7 days

Slippage from Coinbase International: live order book, 34 min ago; KuCoin: 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, 34 min ago	1.56 bp	6.7 bp −$7	9.3 bp −$93	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	3.13 bp	15.9 bp −$16	57.0 bp −$570	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0799% / S +0.0481%	1h	95.765	−0.297%	$114K	—	29x	as long as short
Ondo Perps BRENT-USD.P	−0.0591%	1h	95.730	−0.333%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.248	−0.835%	$8K	$7K	30x	as long as short
tradeXYZ xyz:BRENTOIL	−0.0200%	1h	95.790	−0.271%	$147.4M	$146.6M	20x	as long as short
Lighter BRENTOIL	−0.0176%	1h	95.790	−0.271%	$3.3M	$4.2M	20x	as long as short
Hotstuff BRENTOIL-PERP	−0.0152%	1h	95.770	−0.292%	$33K	—	20x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.743	−0.320%	$2.2M	$1.3M	20x	as long as short
BloFin BZ-USDT	−0.0054%	4h	95.740	−0.323%	$1.5M	$95K	50x	as long as short
GRVT BZ_USDT_Perp	−0.0042%	4h	95.760	−0.302%	$34K	$396K	25x	as long as short
Paradex BZ-USD-PERP	−0.0019%	8h	95.744	−0.318%	$3K	$521	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International BRENTOIL-PERP-INTXlong	−0.0016%	1h	96.050	long leg	$232K	$680K	15x
Aster BZUSDT	0.0000%	4h	95.834	−0.225%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.760	−0.302%	$145.3M	$483.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.750	−0.312%	$10.2M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.750	−0.312%	$15.7M	$28.8M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.730	−0.333%	$9.2M	$17.9M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.750	−0.312%	$27.4M	$22.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.737	−0.326%	$9.2M	$9.2M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.790	−0.271%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.800	−0.260%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.740	−0.323%	$318K	$233K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.820	−0.239%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	95.735	−0.327%	$219K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0017%	1h	95.803	−0.257%	$5K	$45K	5x	as long as short
Extended XBR-USD	+0.0032%	1h	95.905	−0.151%	$675K	$5.3M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.720	+3.821%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.806	−0.254%	$1.5M	$531K	20x	as long as short
KuCoin BZUSDTMshort	+0.0100%	4h	95.790	−0.271%	$3.8M	$1.0M	50x
ApeX Omni BZUSDT	+0.0100%	1h	95.780	−0.281%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0556%	1h	95.808	−0.252%	$81K	$244K	20x	as long as short