Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0008%/8h= +0.9% APRpaid last 24h +0.014%

Price spread now: edgeX against Deribit−0.052%7-day average −0.031% · 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−$43as in the Price arb table

costs, in and out, $10k−$410.409% of the position

Long on Deribit Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.423%+$42 on $10k

Price spread, last 3 days (all we have)+0.093%+$9 · spread now −0.052%, 7d avg −0.031%

Together, before fees+0.516%+ Points / potential airdropedgeX: Active · farm board+$52 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: edgeX is 0.021% cheaper against Deribit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.810	0	get 0.0000% / 1h	47m 11s	$103K	$271K	15x
Short	edgeX BZUSDC	96.759	0.0008	get 0.0004% / 4h	2h 47m	$222K	$233K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.052%Rate

Funding earned: $1.74
Price spread: −0.052% → −0.031%: −$2.11
Slippage, 4 orders: −$24.87
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$41.25
Costs to cover: 0.409%
Break-even: 173.0 days

Slippage from Deribit: live order book, 21 min ago; edgeX: live order book, 20 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, 21 min ago	0.52 bp	4.0 bp −$4	5.2 bp −$52	doesn't fit	doesn't fit
Sell edgeX live order book, 20 min ago	9.83 bp	14.4 bp −$14	16.5 bp −$165	64.4 bp −$6,443	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	95.962	−0.876%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.165%	$234K	$421K	15x	as long as short
BloFin BZ-USDT	−0.0052%	4h	96.760	−0.052%	$1.5M	$90K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.770	−0.041%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.790	−0.021%	$145.9M	$392.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.770	−0.041%	$10.3M	$14.5M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.780	−0.031%	$15.9M	$23.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.792	−0.019%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.740	−0.072%	$9.2M	$12.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.770	−0.041%	$27.7M	$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	96.860	+0.052%	$9.4M	$7.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.758	−0.054%	$24K	$355K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.810	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.810	long leg	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.780	−0.031%	$308K	$223K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.800	−0.010%	$1.2M	$86K	100x	as long as short
edgeX BZUSDCshort	+0.0008%	4h	96.759	−0.052%	$222K	$233K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.307	+0.513%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.790	−0.021%	$3.3M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.787	−0.024%	$673K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.82	+4.142%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0047%	8h	96.793	−0.017%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.792	−0.019%	$151.6M	$132.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.842	+0.033%	$1.5M	$506K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.790	−0.021%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.850	+0.041%	$3.8M	$915K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.820	+0.010%	$25K	$273K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	96.830	+0.021%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0204% / S +0.0110%	1h	96.775	−0.036%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.819	+0.009%	$83K	$219K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0290%	1h	96.834	+0.025%	$7K	$44K	5x	as long as short