Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.025%

Price spread now: Coinbase International against Gate+0.062%7-day average −0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$49as in the Funding arb table

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

costs, in and out, $10k−$370.368% of the position

Long on Gate Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.118%−$12 on $10k

Price spread, last 4 days (all we have)−0.244%−$24 · spread now +0.062%, 7d avg −0.059%

Together, before fees−0.362%−$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Coinbase International is 0.121% dearer against Gate than usual: you sell high and buy low (spread +0.062% now, against its 7-day average of −0.059%): +$12 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BZ_USDT	97.180	0	get 0.0000% / 8h	4h 46m	$9.2M	$12.2M	100x
Short	Coinbase International BRENTOIL-PERP-INTX	97.240	−0.0096	pay 0.0012% / 1h	46m 52s	$234K	$437K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Gate. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GatebpFee Coinbase InternationalbpOrdersPrice spread, now +0.062%Rate

Funding earned: −$20.16
Price spread: +0.062% → −0.059%: $12.07
Slippage, 4 orders: −$11.77
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$44.86
Costs to cover: 0.368%
Break-even: never at this rate

Slippage from Gate: live order book, 2 min ago; Coinbase International: live order book, 11 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 Gate live order book, 2 min ago	1.03 bp	12.8 bp −$13	17.9 bp −$179	33.6 bp −$3,363	46.4 bp −$23.2K
Sell Coinbase International live order book, 11 min ago	1.03 bp	6.0 bp −$6	8.1 bp −$81	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	96.376	−0.827%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0096%	1h	97.240	+0.062%	$234K	$437K	15x
Hotstuff BRENTOIL-PERP	−0.0016%	1h	97.270	+0.093%	$34K	—	20x	as long as short
BloFin BZ-USDT	−0.0009%	4h	97.230	+0.051%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.229	+0.050%	$338K	$954K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.240	+0.062%	$147.1M	$371.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.230	+0.051%	$10.4M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.220	+0.041%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.226	+0.047%	$2.2M	$1.4M	20x	as long as short
Gate BZ_USDTlong	0.0000%	8h	97.180	long leg	$9.2M	$12.2M	100x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.250	+0.072%	$27.5M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.238	+0.060%	$9.4M	$7.1M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.264	+0.086%	$28K	$352K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.270	+0.093%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.260	+0.082%	$104K	$251K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.120	−0.062%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.250	+0.072%	$1.2M	$84K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.799	+0.637%	—	—	—	as long as short
edgeX BZUSDC	+0.0019%	4h	97.247	+0.069%	$223K	$228K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.260	+0.082%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.241	+0.063%	$676K	$4.5M	10x	as long as short
Vest BZ-PERP	+0.0036%	1h	101.29	+4.229%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.238	+0.060%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.276	+0.099%	$152.6M	$124.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.308	+0.132%	$1.6M	$469K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.180	0.000%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.270	+0.093%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.220	+0.041%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0111%	1h	97.263	+0.085%	$7K	$43K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0142%	1h	97.256	+0.078%	$84K	$213K	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0190% / S +0.0009%	1h	97.245	+0.067%	$126K	—	111x	as long as short