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: OKX against Coinbase International+0.010%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$260.257% of the position

Long on Coinbase International Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.216%+$22 on $10k

Price spread, last 4 days (all we have)+0.118%+$12 · spread now +0.010%, 7d avg +0.107%

Together, before fees+0.334%+$33 on $10k · with fees, hour by hour

Funding pays, the price is against you. OKX is 0.097% cheaper against Coinbase International than usual: you would sell low and buy high (spread +0.010% now, against its 7-day average of +0.107%). If the spread goes back, that is −$10 on $10k: about 3.7 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	97.270	−0.0088	get 0.0011% / 1h	26m 46s	$233K	$439K	15x
Short	OKX BZ-USDT-SWAP	97.280	0	get 0.0000% / 4h	3h 26m	$16.1M	$20.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.010%Rate

Funding earned: $18.48
Price spread: +0.010% → +0.107%: −$9.69
Slippage, 4 orders: −$5.72
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$16.94
Costs to cover: 0.257%
Break-even: 13.4 days

Slippage from Coinbase International: live order book, 26 min ago; OKX: live order book, 2 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, 26 min ago	1.54 bp	6.9 bp −$7	9.7 bp −$97	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	0.51 bp	6.1 bp −$6	9.7 bp −$97	22.3 bp −$2,233	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	96.628	−0.660%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXlong	−0.0088%	1h	97.270	long leg	$233K	$439K	15x
BloFin BZ-USDT	−0.0001%	4h	97.350	+0.082%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.360	+0.093%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.350	+0.082%	$147.3M	$367.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.350	+0.082%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	97.280	+0.010%	$16.1M	$20.5M	50x
RISEx BZ/USDC	0.0000%	1h	97.320	+0.051%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.320	+0.051%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.290	+0.021%	$27.9M	$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	97.338	+0.070%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.368	+0.101%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.380	+0.113%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.360	+0.093%	$104K	$245K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.320	+0.051%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.450	+0.185%	$1.2M	$82K	100x	as long as short
edgeX BZUSDC	+0.0007%	4h	97.347	+0.079%	$223K	$226K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.903	+0.651%	—	—	—	as long as short
Vest BZ-PERP	+0.0027%	1h	101.41	+4.256%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.350	+0.082%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.293	+0.023%	$680K	$4.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.339	+0.071%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.363	+0.096%	$153.8M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.402	+0.136%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.300	+0.031%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.388	+0.121%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.410	+0.144%	$3.8M	$853K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	+0.093%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0104%	1h	97.375	+0.108%	$7K	$43K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0104%	1h	97.360	+0.093%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0253% / S −0.1313%	1h	97.355	+0.087%	$115K	—	111x	as long as short