Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0032%/8h= −3.5% APRpaid last 24h −0.014%

Price spread now: SunX against Extended−0.038%7-day average +0.004% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$600.603% of the position

Long on Extended Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.019%−$2 on $10k

Price spread, last 4 days (all we have)−0.237%−$24 · spread now −0.038%, 7d avg +0.004%

Together, before fees−0.256%+ Points / potential airdropExtended: Active · farm board−$26 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 SunX is 0.041% cheaper against Extended than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.004%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended XBR-USD	97.367	0.0032	pay 0.0004% / 1h	35m 20s	$753K	$2.7M	10x
Short	SunX BRENTOIL-USDT	97.330	0	get 0.0000% / 4h	3h 35m	$4K	$2.4M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$6.72
Price spread: −0.038% → +0.004%: −$4.14
Slippage, 4 orders: −$47.3
Fee Extended: 2.5 bp × 2 orders: −$5
Fee SunX: 4 bp × 2 orders: −$8
Net: −$71.16
Costs to cover: 0.603%
Break-even: never at this rate

Slippage from Extended: live order book, 3 min ago; SunX: 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	2.88 bp	5.6 bp −$6	12.7 bp −$127	doesn't fit	doesn't fit
Sell SunX live order book, 2 min ago	18.48 bp	26.4 bp −$26	35.0 bp −$350	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
Deribit BRENTOIL_USDC-PERPETUAL	−0.0264%	1h	97.310	−0.058%	$100K	$262K	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	96.342	−1.052%	$8K	$7K	30x	as long as short
Ondo Perps BRENT-USD.P	−0.0077%	1h	97.170	−0.202%	$3.1M	$1.0M	15x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0056%	1h	97.480	+0.116%	$237K	$401K	15x	as long as short
RISEx BZ/USDC	−0.0039%	1h	97.268	−0.101%	$2.4M	$1.8M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0002%	1h	97.324	−0.044%	$82K	$197K	20x	as long as short
Bybit BZUSDT	−0.0001%	8h	97.300	−0.068%	$10.3M	$13.3M	100x	as long as short
Aster BZUSDT	0.0000%	4h	97.280	−0.089%	$338K	$735K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.285	−0.083%	$148.7M	$353.4M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.300	−0.068%	$16.2M	$19.8M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	97.250	−0.120%	$9.2M	$10.4M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.340	−0.027%	$28.1M	$18.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.329	−0.039%	$9.4M	$6.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.354	−0.013%	$13K	$331K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	97.330	−0.038%	$4K	$2.4M	20x
HTX BRENTOIL-USDT	0.0000%	4h	97.360	−0.007%	$279K	$251K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.360	−0.007%	$1.2M	$83K	100x	as long as short
Hotstuff BRENTOIL-PERP	+0.0008%	1h	97.420	+0.055%	$34K	—	20x	as long as short
Vest BZ-PERP	+0.0009%	1h	101.24	+3.978%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.872	+0.519%	—	—	—	as long as short
edgeX BZUSDC	+0.0020%	4h	97.354	−0.013%	$223K	$229K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.310	−0.058%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USDlong	+0.0032%	1h	97.367	long leg	$753K	$2.7M	10x
Paradex BZ-USD-PERP	+0.0047%	8h	97.305	−0.063%	$2K	$1K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.330	−0.038%	$155.5M	$115.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.320	−0.048%	$1.6M	$344K	20x	as long as short
BloFin BZ-USDT	+0.0057%	4h	97.310	−0.058%	$1.5M	$100K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0071%	1h	97.383	+0.017%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.310	−0.058%	$3.8M	$799K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.380	+0.014%	$26K	$273K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.255	−0.115%	$115K	—	111x	as long as short