BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0063%/8h= +6.9% APRnext payment +$0.08 per $10,000 · paid last 24h +0.030%

Price spread now: Ondo Perps against Deribit−0.082%7-day average −0.056% · you buy dearer than you sell

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

Long on Deribit Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.462%+$46 on $10k

Price spread, last 4 days (all we have)+0.116%+$12 · spread now −0.082%, 7d avg −0.056%

Together, before fees+0.578%+ Points / potential airdropOndo Perps: Active · farm board+$58 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.026% cheaper against Deribit than usual: you would sell low and buy high (spread −0.082% now, against its 7-day average of −0.056%). If the spread goes back, that is −$3 on $10k: about 33 hours of funding at the current rate (+$2 a day). At the pace of the last 4 days (+0.462% in total) that is about 5 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit BRENTOIL_USDC-PERPETUAL	97.080	−0.0059	get 0.0007% / 1h	19m 16s	$100K	$255K	15x
Short	Ondo Perps BRENT-USD.P	97.000	0.0004	get 0.0001% / 1h	19m 16s	$3.1M	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against Deribit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Ondo PerpsbpOrdersPrice spread, now −0.082%Rate

Funding earned: $13.22
Price spread: −0.082% → −0.056%: −$2.63
Slippage, 4 orders: no order book: not counted
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$1.42
Costs to cover: 0.120%
Break-even: 7.8 days

Slippage unknown: Deribit: live order book, 19 min ago; Ondo Perps: 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, 19 min ago	0.51 bp	8.1 bp −$8	9.6 bp −$96	doesn't fit	doesn't fit
Sell Ondo Perps no order-book sample	—	—	—	—	—

Ondo Perps: 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
Deribit BRENTOIL_USDC-PERPETUALlong	−0.0059%	1h	97.080	long leg	$100K	$255K	15x
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.110	+0.031%	$236K	$416K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.135	+0.056%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.110	+0.031%	$148.1M	$352.1M	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	97.080	0.000%	$16.0M	$19.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.044	−0.037%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.040	−0.041%	$9.2M	$11.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.090	+0.010%	$27.8M	$18.4M	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	97.058	−0.023%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.059	−0.022%	$18K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.080	0.000%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.030	−0.052%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.580	+0.515%	$1.2M	$86K	100x	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0004%	1h	97.000	−0.082%	$3.1M	$1.0M	15x
Vest BZ-PERP	+0.0009%	1h	101.12	+4.162%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.647	+0.584%	—	—	—	as long as short
BloFin BZ-USDT	+0.0013%	4h	97.070	−0.010%	$1.5M	$98K	50x	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	97.100	+0.021%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.110	+0.031%	$735K	$3.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.077	−0.004%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.090	+0.010%	$154.9M	$114.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.124	+0.045%	$1.6M	$405K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0096%	1h	97.109	+0.030%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.060	−0.021%	$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	97.096	+0.017%	$82K	$200K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0160%	1h	97.090	+0.010%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.075	−0.005%	$115K	—	111x	as long as short