Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0104%/8h= +11.4% APRpaid last 24h +0.023%

Price spread now: SunX against Coinbase International+0.155%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$610.612% of the position

Long on Coinbase International Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.213%+$21 on $10k

Price spread, last 3 days (all we have)−0.134%−$13 · spread now +0.155%, 7d avg +0.125%

Together, before fees+0.078%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and SunX is 0.030% dearer against Coinbase International than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.125%.

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	57m 07s	$234K	$425K	15x
Short	SunX BRENTOIL-USDT	96.960	0	get 0.0000% / 4h	1h 57m	$4K	$2.5M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.155%Rate

Funding earned: $21.84
Price spread: +0.155% → +0.125%: $3
Slippage, 4 orders: −$43.19
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$36.35
Costs to cover: 0.612%
Break-even: 18.6 days

Slippage from Coinbase International: live order book, 6 min ago; SunX: live order book, 10 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, 6 min ago	0.52 bp	6.6 bp −$7	9.4 bp −$94	doesn't fit	doesn't fit
Sell SunX live order book, 10 min ago	18.57 bp	26.5 bp −$26	35.2 bp −$352	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	96.955	+0.150%	$337K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.935	+0.129%	$146.5M	$376.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.930	+0.124%	$10.3M	$13.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.950	+0.145%	$15.9M	$20.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.960	+0.155%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.900	+0.093%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.940	+0.134%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.848	+0.039%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.008	+0.205%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	96.960	+0.155%	$4K	$2.5M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.950	+0.145%	$103K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.940	+0.134%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.990	+0.186%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.478	+0.690%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	96.842	+0.033%	$222K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.940	+0.134%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.953	+0.147%	$677K	$4.9M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	101.02	+4.349%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.030	+0.227%	$33K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.968	+0.164%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.950	+0.145%	$151.9M	$126.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.016	+0.213%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.920	+0.114%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.010	+0.207%	$3.8M	$879K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.980	+0.176%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0211% / S +0.0068%	1h	96.935	+0.129%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0215%	1h	96.948	+0.142%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.966	+0.161%	$84K	$218K	20x	as long as short