Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.014%

Price spread now: HTX against Deribit−0.145%7-day average −0.046% · 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−$39as in the Price arb table

costs, in and out, $10k−$290.293% of the position

Long on Deribit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.324%+$32 on $10k

Price spread, last 3 days (all we have)+0.122%+$12 · spread now −0.145%, 7d avg −0.046%

Together, before fees+0.447%+$45 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: HTX is 0.099% cheaper against Deribit than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.046%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.710	0	get 0.0000% / 1h	5m 21s	$103K	$271K	15x
Short	HTX BRENTOIL-USDT	96.570	0	get 0.0000% / 4h	3h 05m	$307K	$222K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.145%Rate

Funding earned: $0
Price spread: −0.145% → −0.046%: −$9.9
Slippage, 4 orders: −$10.28
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.19
Costs to cover: 0.293%
Break-even: never at this rate

Slippage from Deribit: live order book, 3 min ago; HTX: live order book, 2 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, 3 min ago	0.52 bp	4.0 bp −$4	5.2 bp −$52	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	2.07 bp	8.1 bp −$8	9.5 bp −$95	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
Injective BRENT/USDC PERP	−0.0220%	1h	95.731	−1.012%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.650	−0.062%	$234K	$440K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0032%	1h	96.740	+0.031%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0029%	4h	96.600	−0.114%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.716	+0.006%	$336K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.695	−0.015%	$145.8M	$403.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.690	−0.021%	$10.4M	$15.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.700	−0.010%	$15.9M	$24.2M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.712	+0.002%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.650	−0.062%	$9.2M	$14.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.690	−0.021%	$27.6M	$17.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.687	−0.024%	$9.3M	$7.4M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.668	−0.043%	$24K	$366K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.710	0.000%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.710	long leg	$103K	$271K	15x
HTX BRENTOIL-USDTshort	0.0000%	4h	96.570	−0.145%	$307K	$222K	75x
Phemex XBRUSDT	0.0000%	4h	96.700	−0.010%	$1.2M	$93K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.217	+0.524%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	96.613	−0.100%	$221K	$233K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.729	+0.019%	$83K	$220K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.710	0.000%	$3.4M	$4.4M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.693	−0.017%	$722K	$5.3M	10x	as long as short
Ondo Perps BRENT-USD.P	+0.0042%	1h	96.680	−0.031%	$3.1M	$1.1M	15x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.74	+4.167%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0046%	8h	96.709	−0.001%	$3K	$521	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.716	+0.006%	$151.7M	$138.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.750	+0.041%	$1.5M	$506K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.730	+0.021%	$3.8M	$931K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.630	−0.083%	$25K	$272K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0200% / S +0.0125%	1h	96.695	−0.016%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0339%	1h	96.675	−0.036%	$7K	$45K	5x	as long as short