BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.2771%/8h= +303.5% APRnext payment +$3.46 per $10,000 · paid last 24h +0.081%

Price spread now: GMX against Deribit−0.015%7-day average −0.011% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Deribit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.482%+$48 on $10k

Price spread, last 4 days (all we have)+0.019%+$2 · spread now −0.015%, 7d avg −0.011%

Together, before fees+0.501%+$50 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.011%, so right now this pair is about funding alone: +$83 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.482% in total (about 50.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$3.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.080	0	get 0.0000% / 1h	20m 57s	$100K	$255K	15x
Short	GMX BRENTOIL/USD [ETH-USDC]	97.065	L +0.0328% / S −0.2771%	get 0.0346% / 1h	20m 57s	$115K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.015%Rate

Funding earned: $582
Price spread: −0.015% → −0.011%: −$0.48
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee GMX: 6 bp × 2 orders: −$12
Net: $562.53
Costs to cover: 0.190%
Break-even: 0.2 days

Slippage unknown: Deribit: live order book, 18 min ago; GMX: no order-book sample. Net counts fees only.

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, 18 min ago	0.51 bp	8.1 bp −$8	9.6 bp −$96	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	96.605	−0.489%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.110	+0.031%	$236K	$417K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.102	+0.023%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.069	−0.011%	$148.0M	$353.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.060	−0.021%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.050	−0.031%	$16.0M	$19.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.007	−0.075%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.020	−0.062%	$9.2M	$11.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.080	0.000%	$27.8M	$18.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.087	+0.007%	$9.4M	$6.1M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.086	+0.006%	$18K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.090	+0.010%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	97.080	long leg	$100K	$255K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.030	−0.052%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.530	+0.464%	$1.2M	$86K	100x	as long as short
Ondo Perps BRENT-USD.P	+0.0003%	1h	96.990	−0.093%	$3.1M	$1.0M	15x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.10	+4.141%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.626	+0.562%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	97.075	−0.005%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.070	−0.010%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.083	+0.003%	$735K	$3.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.025	−0.057%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.100	+0.021%	$154.9M	$114.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.091	+0.011%	$1.6M	$405K	20x	as long as short
BloFin BZ-USDT	+0.0060%	4h	97.070	−0.010%	$1.5M	$98K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0096%	1h	97.129	+0.050%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.050	−0.031%	$3.8M	$800K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.100	+0.021%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.083	+0.003%	$82K	$200K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	97.100	+0.021%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0328% / S −0.2771%	1h	97.065	−0.015%	$115K	—	111x