Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h +0.002%

Price spread now: Phemex against Extended+0.003%7-day average +0.189% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Extended Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.444%+$44 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now +0.003%, 7d avg +0.189%

Together, before fees+0.604%+ Points / potential airdropExtended: Active · farm board+$60 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 Phemex is 0.186% cheaper against Extended than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of +0.189%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.444%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	95.457	0.0032	pay 0.0004% / 1h	17m 13s	$699K	$3.2M	10x
Short	Phemex XBRUSDT	95.460	0	get 0.0000% / 4h	2h 17m	$1.2M	$81K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.003%Rate

Funding earned: −$6.72
Price spread: +0.003% → +0.189%: −$18.61
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$42.33
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Extended: live order book, 5 min ago; Phemex: live order book, 4 min ago. Net counts fees only.

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, 5 min ago	1.83 bp	6.4 bp −$6	20.2 bp −$202	doesn't fit	doesn't fit
Sell Phemex live order book, 4 min ago	1.05 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

BZ on 31 exchanges

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	−0.0379%	1h	95.400	−0.060%	$61K	$309K	15x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0339%	1h	95.420	−0.039%	$94K	$245K	20x	as long as short
RISEx BZ/USDC	−0.0289%	1h	95.387	−0.074%	$2.3M	$1.9M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.420	−0.039%	$270K	$647K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0048%	4h	95.510	+0.055%	$14K	$320K	25x	as long as short
Bybit BZUSDT	−0.0002%	8h	95.410	−0.049%	$10.0M	$15.3M	100x	as long as short
Aster BZUSDT	0.0000%	4h	95.435	−0.023%	$329K	$700K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.406	−0.053%	$146.6M	$418.2M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.410	−0.049%	$16.2M	$24.7M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.370	−0.091%	$9.1M	$12.5M	100x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	95.410	−0.049%	$27.9M	$25.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.465	+0.009%	$9.2M	$6.5M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.420	−0.039%	$4K	$1.8M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.390	−0.070%	$273K	$260K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	95.460	+0.003%	$1.2M	$81K	100x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.915	+0.480%	—	—	—	as long as short
Vest BZ-PERP	+0.0019%	1h	99.120	+3.837%	—	$735K	10x	as long as short
edgeX BZUSDC	+0.0020%	4h	95.482	+0.026%	$219K	$231K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0021%	1h	95.330	−0.133%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.430	−0.028%	$3.5M	$5.5M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	95.457	long leg	$699K	$3.2M	10x
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	−0.651%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	+0.0039%	4h	95.440	−0.018%	$1.6M	$108K	50x	as long as short
Paradex BZ-USD-PERP	+0.0041%	8h	95.395	−0.065%	$1K	$2K	5x	as long as short
Aftermath Perps BRENTUSD	+0.0044%	1h	95.516	+0.061%	$7K	$38K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.435	−0.023%	$147.2M	$138.0M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.391	−0.069%	$1.6M	$394K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.480	+0.024%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.520	+0.066%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0185% / S −0.0707%	1h	95.485	+0.029%	$33K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0272%	1h	95.400	−0.060%	$33K	—	20x	as long as short