Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0043%/8h= +4.7% APRpaid last 24h +0.016%

Price spread now: Ondo Perps against edgeX−0.100%114s7-day average −0.022% · you buy dearer than you sell

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

Long on edgeX Short on Ondo Perps

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.100%, 7d avg −0.022%

Together, before fees+0.137%+ Points / potential airdropedgeX: Active · Ondo Perps: Active · farm board+$14 on $10k · with fees, hour by hour

Funding pays, the price is against you. Ondo Perps is 0.078% cheaper against edgeX than usual: you would sell low and buy high (spread −0.100% now, against its 7-day average of −0.022%). If the spread goes back, that is −$8 on $10k: about 6.0 days of funding at the current rate (+$1 a day). The two prices were read 114 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	97.347	0.0007	pay 0.0004% / 4h	3h 25m	$223K	$226K	20x
Short	Ondo Perps BRENT-USD.P	97.250	0.0050	get 0.0006% / 1h	25m 38s	$3.1M	$1.0M	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Ondo Perps against edgeX. 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 edgeXbpFee Ondo PerpsbpOrdersPrice spread, now −0.100%Rate

Funding earned: $9.1
Price spread: −0.100% → −0.022%: −$7.8
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Ondo Perps: 2.5 bp × 2 orders: −$5
Net: −$12.71
Costs to cover: 0.140%
Break-even: 16.8 days

Slippage unknown: edgeX: live order book, 26 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 edgeX live order book, 26 min ago	10.29 bp	14.8 bp −$15	15.7 bp −$157	61.5 bp −$6,145	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	96.628	−0.739%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.079%	$233K	$439K	15x	as long as short
BloFin BZ-USDT	−0.0001%	4h	97.350	+0.003%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.343	−0.004%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.320	−0.028%	$147.2M	$367.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.300	−0.048%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.300	−0.048%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.308	−0.040%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.290	−0.059%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.310	−0.038%	$27.9M	$16.6M	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	97.297	−0.051%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.368	+0.022%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.370	+0.024%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.320	−0.028%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.240	−0.110%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.430	+0.085%	$1.2M	$82K	100x	as long as short
edgeX BZUSDClong	+0.0007%	4h	97.347	long leg	$223K	$226K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.856	+0.523%	—	—	—	as long as short
Vest BZ-PERP	+0.0027%	1h	101.37	+4.133%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.320	−0.028%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.331	−0.017%	$680K	$4.1M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.317	−0.031%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.330	−0.018%	$153.7M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.344	−0.003%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.Pshort	+0.0050%	1h	97.250	−0.100%	$3.1M	$1.0M	15x
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.332	−0.015%	$82K	$208K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0080%	1h	97.330	−0.018%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.380	+0.034%	$3.8M	$853K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.360	+0.013%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0102%	1h	97.368	+0.022%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0254% / S −0.1336%	1h	97.315	−0.033%	$115K	—	111x	as long as short