Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0149%/8h= −16.3% APRpaid last 24h −0.025%

Price spread now: Coinbase International against edgeX−0.085%7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$420.420% of the position

Long on edgeX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.268%−$27 on $10k

Price spread, last 3 days (all we have)+0.042%+$4 · spread now −0.085%, 7d avg −0.086%

Together, before fees−0.226%+ Points / potential airdropedgeX: Active · farm board−$23 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.086%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	96.892	0.0013	pay 0.0006% / 4h	2h 04m	$222K	$228K	20x
Short	Coinbase International BRENTOIL-PERP-INTX	96.810	−0.0136	pay 0.0017% / 1h	4m 44s	$234K	$425K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against edgeX. 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 edgeXbpFee Coinbase InternationalbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$31.25
Price spread: −0.085% → −0.086%: $0.15
Slippage, 4 orders: −$23.03
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$73.13
Costs to cover: 0.420%
Break-even: never at this rate

Slippage from edgeX: live order book, 62 min ago; Coinbase International: live order book, 63 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 edgeX live order book, 62 min ago	9.83 bp	14.3 bp −$14	15.2 bp −$152	68.1 bp −$6,812	doesn't fit
Sell Coinbase International live order book, 63 min ago	1.55 bp	6.6 bp −$7	8.8 bp −$88	doesn't fit	doesn't fit

BZ on 30 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	95.978	−0.943%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0136%	1h	96.810	−0.085%	$234K	$425K	15x
Aster BZUSDT	0.0000%	4h	96.898	+0.006%	$336K	$998K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.900	+0.008%	$146.4M	$377.5M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.870	−0.023%	$10.3M	$13.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.900	+0.008%	$15.9M	$20.9M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.882	−0.011%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.860	−0.033%	$9.2M	$12.8M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.900	+0.008%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.868	−0.025%	$9.3M	$7.1M	—	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	96.881	−0.011%	$37K	$343K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.910	+0.019%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.910	+0.019%	$103K	$237K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.890	−0.002%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.900	+0.008%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.441	+0.567%	—	—	—	as long as short
edgeX BZUSDClong	+0.0013%	4h	96.892	long leg	$222K	$228K	20x
Lighter BRENTOIL	+0.0032%	1h	96.910	+0.019%	$3.3M	$4.5M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.908	+0.016%	$677K	$5.0M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.97	+4.209%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.891	−0.001%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.903	+0.011%	$151.8M	$126.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.956	+0.066%	$1.5M	$470K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.840	−0.054%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	96.920	+0.029%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.950	+0.060%	$3.8M	$882K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.890	−0.002%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0210% / S +0.0074%	1h	96.895	+0.003%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0223%	1h	96.941	+0.051%	$8K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0253%	1h	96.915	+0.024%	$83K	$218K	20x	as long as short