Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0005%/8h= −0.5% APRpaid last 24h +0.045%

Price spread now: BloFin against Deribit−0.021%57s7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$310.308% of the position

Long on Deribit Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.346%+$35 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.021%, 7d avg −0.017%

Together, before fees+0.339%+$34 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.190	0	get 0.0000% / 1h	54m 16s	$103K	$272K	15x
Short	BloFin BZ-USDT	96.170	−0.0005	pay 0.0002% / 4h	3h 54m	$1.5M	$95K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Deribit. 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 DeribitbpFee BloFinbpOrdersPrice spread, now −0.021%Rate

Funding earned: −$0.96
Price spread: −0.021% → −0.017%: −$0.41
Slippage, 4 orders: −$11.78
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$32.15
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Deribit: live order book, 19 min ago; BloFin: 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 Deribit live order book, 19 min ago	0.52 bp	4.0 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell BloFin live order book, 3 min ago	1.56 bp	8.0 bp −$8	9.9 bp −$99	18.3 bp −$1,830	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.175	−0.016%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.510	−0.707%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.125%	$232K	$483K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0066%	4h	96.139	−0.053%	$34K	$365K	25x	as long as short
BloFin BZ-USDTshort	−0.0005%	4h	96.170	−0.021%	$1.5M	$95K	50x
Aster BZUSDT	0.0000%	4h	96.210	+0.021%	$334K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.194	+0.004%	$145.8M	$439.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.210	+0.021%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.170	−0.021%	$15.8M	$25.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.213	+0.024%	$2.2M	$1.3M	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.150	−0.042%	$9.2M	$14.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.180	−0.010%	$27.6M	$20.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.142	−0.050%	$9.3M	$7.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.200	+0.010%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.190	long leg	$103K	$272K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.140	−0.052%	$306K	$229K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.340	+0.156%	$1.2M	$94K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.736	+0.568%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	96.166	−0.025%	$220K	$232K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.214	+0.025%	$83K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0037%	8h	96.204	+0.015%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.29	+4.262%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.220	+0.031%	$151.0M	$143.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.260	+0.073%	$1.5M	$502K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.150	−0.042%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0056%	1h	96.210	+0.021%	$3.4M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0096%	1h	96.205	+0.016%	$762K	$5.3M	10x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.240	+0.052%	$3.8M	$989K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.100	−0.094%	$25K	$272K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0144%	1h	96.250	+0.062%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0619%	1h	96.136	−0.057%	$6K	$44K	5x	as long as short