Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: GRVT against Extended−0.130%52s7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as 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−$210.215% of the position

Long on Extended Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.016%−$2 on $10k

Price spread, last 4 days (all we have)+0.121%+$12 · spread now −0.130%, 7d avg −0.001%

Together, before fees+0.105%+ Points / potential airdropExtended: Active · GRVT: Active · farm board+$10 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 GRVT is 0.129% cheaper against Extended than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.001%). Swap the legs. The two prices were read 52 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	97.309	0.0032	pay 0.0004% / 1h	50m 45s	$679K	$4.2M	10x
Short	GRVT BZ_USDT_Perp	97.183	0	get 0.0000% / 4h	3h 50m	$29K	$346K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.130%Rate

Funding earned: −$6.72
Price spread: −0.130% → −0.001%: −$12.88
Slippage, 4 orders: −$7.45
Fee Extended: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$41.05
Costs to cover: 0.215%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; GRVT: 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	1.18 bp	4.1 bp −$4	15.6 bp −$156	doesn't fit	doesn't fit
Sell GRVT live order book, 2 min ago	0.51 bp	7.7 bp −$8	11.1 bp −$111	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	96.333	−1.003%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.040%	$233K	$439K	15x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0058%	1h	97.280	−0.030%	$104K	$239K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.266	−0.044%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.280	−0.030%	$147.3M	$368.1M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.270	−0.040%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.280	−0.030%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.283	−0.027%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.230	−0.081%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.280	−0.030%	$27.8M	$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	97.258	−0.053%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perpshort	0.0000%	4h	97.183	−0.130%	$29K	$346K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.210	−0.102%	$4K	$2.5M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.140	−0.174%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.280	−0.030%	$1.2M	$84K	100x	as long as short
BloFin BZ-USDT	0.0000%	4h	97.290	−0.020%	$1.5M	$92K	50x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.161	−0.152%	$223K	$227K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.835	+0.541%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0024%	1h	97.250	−0.061%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0030%	1h	101.29	+4.091%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.300	−0.009%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	97.309	long leg	$679K	$4.2M	10x
Paradex BZ-USD-PERP	+0.0050%	8h	97.288	−0.022%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.311	+0.002%	$153.5M	$126.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.318	+0.009%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.230	−0.081%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.285	−0.024%	$82K	$208K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.310	+0.001%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.230	−0.081%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0114%	1h	97.201	−0.111%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0229% / S −0.0263%	1h	97.275	−0.035%	$126K	—	111x	as long as short