BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0325%/8h= +35.6% APRnext payment +$0.41 per $10,000 · paid last 24h −0.012%

Price spread now: Coinbase International against Deribit+0.042%7-day average −0.118% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$13as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on Deribit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.166%+$17 on $10k

Price spread, last 4 days (all we have)−0.083%−$8 · spread now +0.042%, 7d avg −0.118%

Together, before fees+0.083%+$8 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.160% dearer against Deribit than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of −0.118%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	95.060	−0.0381	get 0.0048% / 1h	2m 02s	$98K	$268K	15x
Short	Coinbase International BRENTOIL-PERP-INTX	95.100	−0.0056	pay 0.0007% / 1h	2m 02s	$274K	$584K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now +0.042%Rate

Funding earned: $68.2
Price spread: +0.042% → −0.118%: $15.99
Slippage, 4 orders: −$11.93
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $55.26
Costs to cover: 0.289%
Break-even: 1.3 days

Slippage from Deribit: live order book, 31 min ago; Coinbase International: live order book, 31 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, 31 min ago	0.51 bp	10.1 bp −$10	11.0 bp −$110	doesn't fit	doesn't fit
Sell Coinbase International live order book, 31 min ago	1.03 bp	6.0 bp −$6	7.8 bp −$78	doesn't fit	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
Deribit BRENTOIL_USDC-PERPETUALlong	−0.0381%	1h	95.060	long leg	$98K	$268K	15x
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	+1.349%	$8K	$7K	30x	as long as short
GRVT BZ_USDT_Perp	−0.0144%	4h	94.935	−0.131%	$14K	$329K	25x	as long as short
Ondo Perps BRENT-USD.P	−0.0099%	1h	95.000	−0.063%	$3.0M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0056%	1h	95.100	+0.042%	$274K	$584K	15x
RISEx BZ/USDC	−0.0039%	1h	95.262	+0.212%	$2.3M	$1.8M	20x	as long as short
BloFin BZ-USDT	−0.0028%	4h	95.290	+0.242%	$1.5M	$102K	50x	as long as short
Bybit BZUSDT	−0.0018%	8h	95.010	−0.053%	$10.0M	$14.5M	100x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	95.083	+0.024%	$81K	$203K	20x	as long as short
Aster BZUSDT	0.0000%	4h	95.072	+0.012%	$329K	$702K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BZUSDT	0.0000%	4h	95.000	−0.063%	$145.8M	$384.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.980	−0.084%	$15.9M	$22.5M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	94.970	−0.095%	$9.1M	$11.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	95.060	0.000%	$28.1M	$21.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.129	+0.073%	$9.2M	$6.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.080	+0.021%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.060	0.000%	$272K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.410	+0.368%	$1.2M	$80K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	95.057	−0.003%	$218K	$231K	20x	as long as short
Vest BZ-PERP	+0.0010%	1h	98.820	+3.955%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.602	+0.570%	—	—	—	as long as short
Paradex BZ-USD-PERP	+0.0032%	8h	95.054	−0.006%	$2K	$1K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.070	+0.011%	$3.5M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.104	+0.046%	$732K	$2.6M	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.050	−0.011%	$151.5M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.111	+0.054%	$1.5M	$336K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0056%	1h	95.495	+0.458%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.110	+0.053%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.150	+0.095%	$25K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0112%	1h	95.150	+0.095%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.045	−0.016%	$33K	—	111x	as long as short