Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.043%

Price spread now: KuCoin against Deribit+0.062%7-day average +0.009% · 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−$33as in the Price arb table

costs, in and out, $10k−$390.386% of the position

Long on Deribit Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.480%+$48 on $10k

Price spread, last 4 days (all we have)+0.191%+$19 · spread now +0.062%, 7d avg +0.009%

Together, before fees+0.671%+$67 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and KuCoin is 0.053% dearer against Deribit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.009%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.910	0	get 0.0000% / 1h	30m 50s	$103K	$242K	15x
Short	KuCoin BZUSDTM	96.970	0.0100	get 0.0050% / 4h	1h 30m	$3.8M	$872K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.062%Rate

Funding earned: $21
Price spread: +0.062% → +0.009%: $5.31
Slippage, 4 orders: −$19.63
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$12.32
Costs to cover: 0.386%
Break-even: 11.1 days

Slippage from Deribit: live order book, 33 min ago; KuCoin: live order book, 7 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, 33 min ago	0.52 bp	5.9 bp −$6	6.2 bp −$62	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	0.52 bp	16.1 bp −$16	40.1 bp −$401	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	96.164	−0.770%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	−0.062%	$233K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.895	−0.016%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.910	0.000%	$146.7M	$374.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.880	−0.031%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.900	−0.010%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.901	−0.009%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.860	−0.052%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.920	+0.010%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.885	−0.026%	$9.3M	$7.1M	—	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	96.909	−0.001%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.930	+0.021%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.910	long leg	$103K	$242K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.870	−0.041%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.920	+0.010%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	96.864	−0.048%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.447	+0.554%	—	—	—	as long as short
BloFin BZ-USDT	+0.0025%	4h	96.900	−0.010%	$1.5M	$86K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.900	−0.010%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.916	+0.006%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.97	+4.189%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	96.901	−0.010%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.917	+0.007%	$151.9M	$125.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.965	+0.057%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.880	−0.031%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	96.920	+0.010%	$33K	—	20x	as long as short
KuCoin BZUSDTMshort	+0.0100%	4h	96.970	+0.062%	$3.8M	$872K	50x
ApeX Omni BZUSDT	+0.0100%	1h	96.870	−0.041%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0170%	1h	96.896	−0.014%	$7K	$44K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0046%	1h	96.905	−0.005%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	96.927	+0.018%	$83K	$218K	20x	as long as short