Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0047%/8h= +5.1% APRpaid last 24h +0.013%

Price spread now: tradeXYZ against edgeX−0.076%66s7-day average +0.103% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as 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−$480.483% of the position

Long on edgeX Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.155%+$16 · spread now −0.076%, 7d avg +0.103%

Together, before fees+0.229%+ Points / potential airdropedgeX: Active · tradeXYZ: Active · farm board+$23 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.179% cheaper against edgeX than usual: you would sell low and buy high (spread −0.076% now, against its 7-day average of +0.103%). If the spread goes back, that is −$18 on $10k: about 13 days of funding at the current rate (+$1 a day). The two prices were read 66 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	97.432	0.0003	pay 0.0002% / 4h	2m 24s	$224K	$229K	20x
Short	tradeXYZ xyz:BRENTOIL	97.358	0.0050	get 0.0006% / 1h	2m 24s	$155.4M	$115.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.076%Rate

Funding earned: $9.79
Price spread: −0.076% → +0.103%: −$17.89
Slippage, 4 orders: −$21.32
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$56.42
Costs to cover: 0.483%
Break-even: 47.3 days

Slippage from edgeX: live order book, 35 min ago; tradeXYZ: live order book, 7 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, 35 min ago	10.27 bp	14.8 bp −$15	15.6 bp −$156	59.8 bp −$5,978	doesn't fit
Sell tradeXYZ live order book, 7 min ago	0.36 bp	9.4 bp −$9	10.0 bp −$100	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0263%	1h	97.350	−0.084%	$100K	$256K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−1.119%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.049%	$237K	$402K	15x	as long as short
BloFin BZ-USDT	−0.0049%	4h	97.330	−0.105%	$1.5M	$99K	50x	as long as short
Ondo Perps BRENT-USD.P	−0.0018%	1h	97.220	−0.218%	$3.1M	$999K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.376	−0.058%	$339K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.330	−0.105%	$148.2M	$351.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.320	−0.115%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.310	−0.125%	$16.1M	$19.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.321	−0.114%	$2.4M	$1.7M	20x	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	97.290	−0.146%	$9.2M	$11.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.340	−0.095%	$27.9M	$18.5M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.402	−0.031%	$9.5M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.430	−0.002%	$14K	$332K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.320	−0.115%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.290	−0.146%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.400	−0.033%	$1.2M	$86K	100x	as long as short
edgeX BZUSDClong	+0.0003%	4h	97.432	long leg	$224K	$229K	20x
Vest BZ-PERP	+0.0010%	1h	101.37	+4.042%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.921	+0.502%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.340	−0.095%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.378	−0.056%	$747K	$2.9M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.351	−0.083%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.358	−0.076%	$155.4M	$115.4M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.388	−0.045%	$1.6M	$395K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0074%	1h	97.365	−0.069%	$7K	$40K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0088%	1h	97.400	−0.033%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.380	−0.054%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.450	+0.018%	$26K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.350	−0.085%	$82K	$200K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0329% / S −0.2771%	1h	97.345	−0.090%	$116K	—	111x	as long as short