Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.010%

Price spread now: Kraken Futures against edgeX+0.171%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$151as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on edgeX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.921%−$92 on $10k

Price spread, last 4 days (all we have)−0.288%−$29 · spread now +0.171%, 7d avg +0.036%

Together, before fees−1.209%+ Points / potential airdropedgeX: Active · farm board−$121 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Kraken Futures is 0.135% dearer against edgeX than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.036%. Mind the row above: over the last 7 days funding on this pair cost −0.921%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX BZUSDC	97.518	0.0011	pay 0.0006% / 4h	59m 34s	$225K	$229K	20x
Short	Kraken Futures PF_BRENTOILUSD	97.685	0.0158	get 0.0020% / 1h	59m 34s	$82K	$204K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.171%Rate

Funding earned: $30.7
Price spread: +0.171% → +0.036%: $13.46
Slippage, 4 orders: −$40.05
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$14.9
Costs to cover: 0.591%
Break-even: 10.4 days

Slippage from edgeX: live order book, 42 min ago; Kraken Futures: live order book, 43 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, 42 min ago	10.23 bp	14.7 bp −$15	15.6 bp −$156	64.7 bp −$6,468	doesn't fit
Sell Kraken Futures live order book, 43 min ago	4.66 bp	14.5 bp −$14	29.4 bp −$294	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	96.970	−0.562%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.700	+0.187%	$237K	$417K	15x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.550	+0.033%	$1.5M	$96K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.893	+0.384%	$340K	$880K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.904	+0.395%	$149.0M	$353.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.850	+0.340%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.860	+0.351%	$16.1M	$19.8M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.595	+0.079%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.850	+0.340%	$9.3M	$10.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.740	+0.228%	$27.9M	$17.5M	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	97.538	+0.020%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.523	+0.005%	$30K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.630	+0.115%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.660	+0.146%	$100K	$252K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.580	+0.063%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.670	+0.156%	$1.2M	$87K	100x	as long as short
Vest BZ-PERP	+0.0008%	1h	101.79	+4.381%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.231	+0.731%	—	—	—	as long as short
edgeX BZUSDClong	+0.0011%	4h	97.518	long leg	$225K	$229K	20x
Lighter BRENTOIL	+0.0032%	1h	97.730	+0.217%	$3.3M	$3.9M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.906	+0.398%	$727K	$3.2M	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	97.770	+0.258%	$34K	—	20x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.819	+0.309%	$3K	$355	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.744	+0.232%	$155.6M	$115.4M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.685	+0.171%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.860	+0.351%	$3.1M	$1.0M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.710	+0.197%	$3.8M	$811K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.560	+0.043%	$26K	$273K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0107%	1h	97.593	+0.076%	$7K	$41K	5x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0158%	1h	97.685	+0.171%	$82K	$204K	20x
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.665	+0.151%	$116K	—	111x	as long as short