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: OKX against Extended−0.031%7-day average +0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$22as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$200.203% of the position

Long on Extended Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.012%−$1 on $10k

Price spread, last 7 days+0.042%+$4 · spread now −0.031%, 7d avg +0.017%

Together, before fees+0.030%+ Points / potential airdropExtended: Active · farm board+$3 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 OKX is 0.048% cheaper against Extended than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of +0.017%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	97.330	0.0032	pay 0.0004% / 1h	24m 47s	$680K	$4.1M	10x
Short	OKX BZ-USDT-SWAP	97.300	0	get 0.0000% / 4h	3h 24m	$16.1M	$20.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$6.72
Price spread: −0.031% → +0.017%: −$4.79
Slippage, 4 orders: −$5.35
Fee Extended: 2.5 bp × 2 orders: −$5
Fee OKX: 5 bp × 2 orders: −$10
Net: −$31.86
Costs to cover: 0.203%
Break-even: never at this rate

Slippage from Extended: live order book, 4 min ago; OKX: live order book, 4 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	0.72 bp	4.3 bp −$4	13.9 bp −$139	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	0.51 bp	6.1 bp −$6	9.7 bp −$97	22.3 bp −$2,233	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	96.628	−0.721%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.062%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.343	+0.013%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.320	−0.010%	$147.2M	$367.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.320	−0.010%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAPshort	0.0000%	4h	97.300	−0.031%	$16.1M	$20.6M	50x
RISEx BZ/USDC	0.0000%	1h	97.308	−0.023%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.290	−0.041%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.300	−0.031%	$27.9M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.297	−0.034%	$9.3M	$6.9M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.368	+0.039%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.350	+0.020%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.330	0.000%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.240	−0.093%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.440	+0.113%	$1.2M	$82K	100x	as long as short
edgeX BZUSDC	+0.0003%	4h	97.338	+0.008%	$223K	$226K	20x	as long as short
BloFin BZ-USDT	+0.0008%	4h	97.300	−0.031%	$1.5M	$91K	50x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.866	+0.550%	—	—	—	as long as short
Vest BZ-PERP	+0.0027%	1h	101.37	+4.151%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.330	0.000%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	97.330	long leg	$680K	$4.1M	10x
Paradex BZ-USD-PERP	+0.0050%	8h	97.318	−0.012%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.335	+0.005%	$153.7M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.358	+0.029%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.250	−0.082%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.311	−0.019%	$82K	$208K	20x	as long as short
Hotstuff BRENTOIL-PERP	+0.0080%	1h	97.330	0.000%	$34K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.380	+0.051%	$3.8M	$853K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.370	+0.041%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0101%	1h	97.358	+0.028%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0255% / S −0.1359%	1h	97.315	−0.016%	$115K	—	111x	as long as short