Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0023%/8h= +2.6% APRpaid last 24h +0.006%

Price spread now: Hotstuff against edgeX−0.136%118s7-day average — · you buy dearer than you sell

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

Long on edgeX Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · Hotstuff: Active · farm boardneeds both histories

Funding pays, the price is against you. Hotstuff is 0.136% cheaper against edgeX than usual: you would sell low and buy high (spread −0.136% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 19 days of funding at the current rate (+$1 a day). The two prices were read 118 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	97.353	0.0001	pay 0.0000% / 4h	3h 53m	$223K	$228K	20x
Short	Hotstuff BRENTOIL-PERP	97.220	0.0024	get 0.0003% / 1h	53m 36s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now −0.136%Rate

Funding earned: $4.92
Price spread: −0.136% → 0.000%: −$13.62
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$22.7
Costs to cover: 0.140%
Break-even: 39.3 days

Slippage unknown: edgeX: live order book, 43 min ago; Hotstuff: 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 edgeX live order book, 43 min ago	10.27 bp	14.8 bp −$15	15.6 bp −$156	59.8 bp −$5,978	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	96.342	−1.038%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0060%	1h	97.200	−0.157%	$3.1M	$994K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0059%	1h	97.200	−0.157%	$100K	$258K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.131%	$237K	$402K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.200	−0.157%	$2.4M	$1.7M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.238	−0.118%	$82K	$200K	20x	as long as short
Aster BZUSDT	0.0000%	4h	97.266	−0.089%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.210	−0.146%	$148.3M	$352.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.200	−0.157%	$10.3M	$13.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.190	−0.167%	$16.0M	$19.7M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	97.150	−0.208%	$9.2M	$10.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.240	−0.116%	$28.0M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.279	−0.076%	$9.4M	$6.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.500	+0.151%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.230	−0.126%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.270	−0.085%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.300	−0.054%	$1.2M	$86K	100x	as long as short
edgeX BZUSDClong	+0.0001%	4h	97.353	long leg	$223K	$228K	20x
Vest BZ-PERP	+0.0010%	1h	101.22	+3.973%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.767	+0.426%	—	—	—	as long as short
Hotstuff BRENTOIL-PERPshort	+0.0024%	1h	97.220	−0.136%	$33K	—	20x
BloFin BZ-USDT	+0.0028%	4h	97.260	−0.095%	$1.5M	$99K	50x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.200	−0.157%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.268	−0.087%	$747K	$2.8M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.212	−0.144%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.240	−0.116%	$155.3M	$115.5M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.270	−0.085%	$1.6M	$395K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0080%	1h	97.357	+0.005%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.220	−0.136%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.500	+0.151%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.205	−0.152%	$115K	—	111x	as long as short