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: OKX against Deribit−0.031%7-day average −0.011% · 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−$29as in the Price arb table

costs, in and out, $10k−$270.275% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.342%+$34 on $10k

Price spread, last 3 days (all we have)+0.092%+$9 · spread now −0.031%, 7d avg −0.011%

Together, before fees+0.434%+$43 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	96.470	0	get 0.0000% / 1h	30m 03s	$103K	$271K	15x
Short	OKX BZ-USDT-SWAP	96.440	0	get 0.0000% / 4h	3h 30m	$15.9M	$25.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.011%: −$1.98
Slippage, 4 orders: −$10.48
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$29.46
Costs to cover: 0.275%
Break-even: never at this rate

Slippage from Deribit: live order book, 44 min ago; OKX: 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, 44 min ago	0.52 bp	4.0 bp −$4	4.1 bp −$41	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.52 bp	5.5 bp −$6	9.0 bp −$90	25.5 bp −$2,551	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	95.669	−0.830%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.415%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0098% / S +0.0137%	1h	96.455	−0.016%	$33K	—	111x	as long as short
Aster BZUSDT	0.0000%	4h	96.463	−0.007%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.470	0.000%	$145.6M	$424.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.460	−0.010%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	96.440	−0.031%	$15.9M	$25.3M	50x
RISEx BZ/USDC	0.0000%	1h	96.437	−0.034%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.410	−0.062%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.480	+0.010%	$27.6M	$19.8M	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	96.430	−0.041%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.460	−0.010%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.450	−0.021%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALlong	0.0000%	1h	96.470	long leg	$103K	$271K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.410	−0.062%	$307K	$226K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.470	0.000%	$1.2M	$94K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.988	+0.537%	—	—	—	as long as short
BloFin BZ-USDT	+0.0014%	4h	96.450	−0.021%	$1.5M	$95K	50x	as long as short
edgeX BZUSDC	+0.0014%	4h	96.470	0.000%	$221K	$233K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.475	+0.005%	$83K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0031%	1h	96.360	−0.114%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.460	−0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.476	+0.006%	$746K	$5.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0042%	8h	96.452	−0.018%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.53	+4.209%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.484	+0.015%	$151.5M	$142.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.505	+0.036%	$1.5M	$511K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0072%	1h	96.480	+0.010%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.480	+0.010%	$3.8M	$984K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.490	+0.021%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0444%	1h	96.482	+0.012%	$7K	$45K	5x	as long as short