BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h +0.038%

Price spread now: Kraken Futures against Deribit+0.004%7-day average +0.001% · 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−$45as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Deribit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.091%−$9 on $10k

Price spread, last 4 days (all we have)−0.089%−$9 · spread now +0.004%, 7d avg +0.001%

Together, before fees−0.180%−$18 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.001%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 4 days funding on this pair cost −0.091%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.400	0	get 0.0000% / 1h	46m 52s	$104K	$240K	15x
Short	Kraken Futures PF_BRENTOILUSD	97.404	0.0063	get 0.0008% / 1h	46m 52s	$82K	$208K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.004%Rate

Funding earned: $13.29
Price spread: +0.004% → +0.001%: $0.3
Slippage, 4 orders: −$28.33
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$31.73
Costs to cover: 0.453%
Break-even: 23.7 days

Slippage from Deribit: live order book, 7 min ago; Kraken Futures: live order book, 6 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, 7 min ago	0.51 bp	8.1 bp −$8	9.7 bp −$97	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 6 min ago	4.42 bp	17.8 bp −$18	35.3 bp −$353	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	96.333	−1.095%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.133%	$233K	$439K	15x	as long as short
BloFin BZ-USDT	−0.0050%	4h	97.420	+0.021%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.400	0.000%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.376	−0.024%	$147.6M	$368.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.380	−0.021%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.400	0.000%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.380	−0.021%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.360	−0.041%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.430	+0.031%	$27.9M	$16.7M	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	97.258	−0.146%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.351	−0.050%	$29K	$346K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.400	0.000%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	97.400	long leg	$104K	$240K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.160	−0.246%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.390	−0.010%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.313	−0.089%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.953	+0.567%	—	—	—	as long as short
Vest BZ-PERP	+0.0030%	1h	101.44	+4.148%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.400	0.000%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.413	+0.014%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.394	−0.006%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.426	+0.027%	$153.6M	$126.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.430	+0.031%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.360	−0.041%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0063%	1h	97.404	+0.004%	$82K	$208K	20x
KuCoin BZUSDTM	+0.0100%	4h	97.450	+0.051%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.350	−0.051%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0107%	1h	97.309	−0.094%	$7K	$43K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0224%	1h	97.470	+0.072%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0233% / S −0.0286%	1h	97.395	−0.005%	$126K	—	111x	as long as short