Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0025%/8h= −2.7% APRpaid last 24h −0.013%

Price spread now: edgeX against Extended−0.056%7-day average −0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$390.392% of the position

Long on Extended Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.037%+$4 on $10k

Price spread, last 3 days (all we have)+0.039%+$4 · spread now −0.056%, 7d avg −0.035%

Together, before fees+0.076%+ Points / potential airdropExtended: Active · edgeX: Active · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and edgeX is 0.022% cheaper against Extended than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.035%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	96.456	0.0032	pay 0.0004% / 1h	34m 57s	$746K	$5.4M	10x
Short	edgeX BZUSDC	96.402	0.0007	get 0.0003% / 4h	3h 34m	$221K	$233K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.056%Rate

Funding earned: −$5.27
Price spread: −0.056% → −0.035%: −$2.18
Slippage, 4 orders: −$25.21
Fee Extended: 2.5 bp × 2 orders: −$5
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$46.66
Costs to cover: 0.392%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; edgeX: live order book, 37 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, 4 min ago	1.76 bp	4.8 bp −$5	19.3 bp −$193	doesn't fit	doesn't fit
Sell edgeX live order book, 37 min ago	10.40 bp	14.9 bp −$15	16.1 bp −$161	59.7 bp −$5,969	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	95.669	−0.816%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.401%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0099% / S +0.0137%	1h	96.475	+0.019%	$33K	—	111x	as long as short
BloFin BZ-USDT	−0.0013%	4h	96.470	+0.014%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.454	−0.002%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.464	+0.008%	$145.6M	$428.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.450	−0.007%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.440	−0.017%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.472	+0.016%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.420	−0.038%	$9.2M	$14.3M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.460	+0.004%	$27.6M	$19.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.460	+0.004%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.367	−0.092%	$24K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.490	+0.035%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.500	+0.045%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.440	−0.017%	$307K	$229K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.470	+0.014%	$1.2M	$94K	100x	as long as short
edgeX BZUSDCshort	+0.0007%	4h	96.402	−0.056%	$221K	$233K	20x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.999	+0.562%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	96.500	+0.045%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.495	+0.040%	$83K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0022%	1h	96.420	−0.038%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.450	−0.007%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	96.456	long leg	$746K	$5.4M	10x
Paradex BZ-USD-PERP	+0.0041%	8h	96.475	+0.020%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.55	+4.244%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.475	+0.019%	$151.4M	$142.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.531	+0.077%	$1.5M	$511K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.500	+0.045%	$3.8M	$987K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.480	+0.025%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0462%	1h	96.450	−0.006%	$7K	$45K	5x	as long as short