Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0028%/8h= +3.0% APRpaid last 24h −0.018%

Price spread now: BloFin against Extended+0.009%54s7-day average −0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$22as 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−$230.230% of the position

Long on Extended Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.009%+$1 on $10k

Price spread, last 4 days (all we have)−0.045%−$4 · spread now +0.009%, 7d avg −0.022%

Together, before fees−0.035%+ Points / potential airdropExtended: Active · farm board−$4 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 BloFin is 0.031% dearer against Extended than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of −0.022%. The two prices were read 54 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	Extended XBR-USD	97.061	0.0032	pay 0.0004% / 1h	20m 16s	$735K	$3.0M	10x
Short	BloFin BZ-USDT	97.070	0.0060	get 0.0030% / 4h	20m 16s	$1.5M	$98K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Extended. 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 ExtendedbpFee BloFinbpOrdersPrice spread, now +0.009%Rate

Funding earned: $5.79
Price spread: +0.009% → −0.022%: $3.1
Slippage, 4 orders: −$5.97
Fee Extended: 2.5 bp × 2 orders: −$5
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$14.08
Costs to cover: 0.230%
Break-even: 24.0 days

Slippage from Extended: live order book, 3 min ago; BloFin: live order book, 2 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 Extended live order book, 3 min ago	0.46 bp	3.9 bp −$4	12.0 bp −$120	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	1.03 bp	7.2 bp −$7	8.9 bp −$89	16.3 bp −$1,633	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	96.605	−0.470%	$8K	$7K	30x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0059%	1h	97.040	−0.022%	$100K	$255K	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.110	+0.050%	$236K	$416K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.087	+0.026%	$338K	$860K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.079	+0.018%	$148.0M	$352.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.060	−0.002%	$10.2M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.060	−0.002%	$16.0M	$19.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.029	−0.034%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.000	−0.063%	$9.2M	$11.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.060	−0.002%	$27.8M	$18.4M	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	97.058	−0.004%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.086	+0.025%	$18K	$331K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.070	+0.009%	$4K	$2.4M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.030	−0.032%	$279K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.540	+0.493%	$1.2M	$86K	100x	as long as short
Ondo Perps BRENT-USD.P	+0.0003%	1h	96.990	−0.074%	$3.1M	$1.0M	15x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.10	+4.161%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.627	+0.583%	—	—	—	as long as short
edgeX BZUSDC	+0.0013%	4h	97.075	+0.014%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.070	+0.009%	$3.3M	$4.0M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	97.061	long leg	$735K	$3.0M	10x
Paradex BZ-USD-PERP	+0.0050%	8h	97.042	−0.021%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.072	+0.011%	$154.9M	$114.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.098	+0.038%	$1.6M	$405K	20x	as long as short
BloFin BZ-USDTshort	+0.0060%	4h	97.070	+0.009%	$1.5M	$98K	50x
Aftermath Perps BRENTUSD	+0.0096%	1h	97.117	+0.057%	$7K	$40K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.040	−0.022%	$3.8M	$800K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.100	+0.040%	$25K	$273K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	97.068	+0.007%	$82K	$200K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	97.100	+0.040%	$33K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.075	+0.014%	$115K	—	111x	as long as short