Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.027%

Price spread now: Gate against Deribit−0.031%7-day average −0.060% · 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−$41as in the Price arb table

costs, in and out, $10k−$440.439% of the position

Long on Deribit Short on Gate

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.270%+$27 on $10k

Price spread, last 3 days (all we have)+0.036%+$4 · spread now −0.031%, 7d avg −0.060%

Together, before fees+0.306%+$31 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: Gate is 0.029% dearer against Deribit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of −0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.260	0	get 0.0000% / 1h	59m 29s	$103K	$272K	15x
Short	Gate BZ_USDT	96.230	0	get 0.0000% / 8h	7h 59m	$9.2M	$14.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.060%: $2.89
Slippage, 4 orders: −$21.89
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$41.01
Costs to cover: 0.439%
Break-even: never at this rate

Slippage from Deribit: live order book, 14 min ago; Gate: live order book, 4 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, 14 min ago	0.52 bp	4.0 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	0.52 bp	13.9 bp −$14	24.2 bp −$242	34.0 bp −$3,397	46.4 bp −$23.2K

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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.225	−0.036%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.806%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.070	−0.197%	$232K	$484K	15x	as long as short
BloFin BZ-USDT	−0.0010%	4h	96.200	−0.062%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.303	+0.045%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.304	+0.045%	$146.0M	$443.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.300	+0.042%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.250	−0.010%	$15.8M	$25.7M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.303	+0.044%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	96.230	−0.031%	$9.2M	$14.2M	100x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.330	+0.073%	$27.6M	$20.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.202	−0.060%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	−0.042%	$34K	$365K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.230	−0.031%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.260	long leg	$103K	$272K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.200	−0.062%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.300	+0.042%	$1.2M	$95K	100x	as long as short
edgeX BZUSDC	+0.0009%	4h	96.204	−0.058%	$220K	$234K	20x	as long as short
Paradex BZ-USD-PERP	+0.0035%	8h	96.256	−0.004%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.32	+4.218%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.313	+0.055%	$151.2M	$143.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.340	+0.083%	$1.5M	$502K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.170	−0.093%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0056%	1h	96.270	+0.010%	$33K	—	20x	as long as short
Aftermath Perps BRENTUSD	+0.0096%	1h	96.266	+0.007%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.150	−0.114%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.230	−0.031%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.291	+0.032%	$83K	$234K	20x	as long as short
Lighter BRENTOIL	+0.0216%	1h	96.310	+0.052%	$3.4M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0240%	1h	96.294	+0.036%	$772K	$5.3M	10x	as long as short