Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0017%/8h= +1.9% APRpaid last 24h +0.013%

Price spread now: Extended against edgeX+0.134%93s7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$400.398% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 4 days (all we have)−0.119%−$12 · spread now +0.134%, 7d avg +0.045%

Together, before fees−0.158%+ Points / potential airdropedgeX: Active · Extended: Active · farm board−$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Extended is 0.089% dearer against edgeX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.045%. The two prices were read 93 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	97.204	0.0015	pay 0.0007% / 4h	3h 47m	$223K	$229K	20x
Short	Extended XBR-USD	97.334	0.0032	get 0.0004% / 1h	47m 54s	$747K	$2.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.134%Rate

Funding earned: $3.58
Price spread: +0.134% → +0.045%: $8.87
Slippage, 4 orders: −$25.79
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$27.35
Costs to cover: 0.398%
Break-even: 60.5 days

Slippage from edgeX: live order book, 49 min ago; Extended: live order book, 1 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, 49 min ago	10.27 bp	14.8 bp −$15	15.6 bp −$156	59.8 bp −$5,978	doesn't fit
Sell Extended live order book, 1 min ago	1.54 bp	5.1 bp −$5	19.4 bp −$194	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	96.342	−0.887%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0076%	1h	97.240	+0.037%	$3.1M	$992K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0074%	4h	97.238	+0.035%	$14K	$332K	25x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0058%	1h	97.300	+0.099%	$100K	$259K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.284%	$237K	$402K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.283	+0.081%	$2.4M	$1.7M	20x	as long as short
Hotstuff BRENTOIL-PERP	−0.0024%	1h	97.300	+0.099%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0018%	4h	97.290	+0.088%	$1.5M	$99K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.319	+0.118%	$82K	$200K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.326	+0.125%	$338K	$860K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance BZUSDT	0.0000%	4h	97.310	+0.109%	$148.7M	$352.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.310	+0.109%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.280	+0.078%	$16.1M	$19.8M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	97.270	+0.068%	$9.2M	$10.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.330	+0.129%	$27.9M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.269	+0.067%	$9.4M	$6.2M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.330	+0.129%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.270	+0.068%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.450	+0.253%	$1.2M	$85K	100x	as long as short
Vest BZ-PERP	+0.0010%	1h	101.29	+4.203%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.857	+0.672%	—	—	—	as long as short
edgeX BZUSDClong	+0.0015%	4h	97.204	long leg	$223K	$229K	20x
Lighter BRENTOIL	+0.0032%	1h	97.290	+0.088%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USDshort	+0.0032%	1h	97.334	+0.134%	$747K	$2.8M	10x
Paradex BZ-USD-PERP	+0.0049%	8h	97.302	+0.101%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.350	+0.150%	$155.3M	$115.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.315	+0.114%	$1.6M	$370K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0078%	1h	97.323	+0.123%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.290	+0.088%	$3.8M	$798K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.280	+0.078%	$25K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.305	+0.104%	$115K	—	111x	as long as short