Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.027%

Price spread now: Deribit against Gate+0.094%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$400.396% of the position

Long on Gate Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.270%−$27 on $10k

Price spread, last 3 days (all we have)−0.098%−$10 · spread now +0.094%, 7d avg +0.060%

Together, before fees−0.368%−$37 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.033% dearer against Gate than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.060%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BZ_USDT	96.240	0	get 0.0000% / 8h	7h 58m	$9.2M	$14.2M	100x
Short	Deribit BRENTOIL_USDC-PERPETUAL	96.330	0	get 0.0000% / 1h	58m 03s	$103K	$272K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Gate. 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 GatebpFee DeribitbpOrdersPrice spread, now +0.094%Rate

Funding earned: $0
Price spread: +0.094% → +0.060%: $3.35
Slippage, 4 orders: −$17.56
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$36.21
Costs to cover: 0.396%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Deribit: live order book, 16 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, 1 min ago	0.52 bp	11.0 bp −$11	21.9 bp −$219	33.5 bp −$3,351	46.3 bp −$23.2K
Sell Deribit live order book, 16 min ago	0.52 bp	11.2 bp −$11	11.8 bp −$118	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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	96.315	+0.078%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.484	−0.786%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.177%	$232K	$484K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.295	+0.057%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.263	+0.024%	$145.9M	$442.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.250	+0.010%	$10.4M	$16.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.220	−0.021%	$15.8M	$25.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.287	+0.049%	$2.2M	$1.3M	20x	as long as short
Gate BZ_USDTlong	0.0000%	8h	96.240	long leg	$9.2M	$14.2M	100x
Bitget BZUSDT	0.0000%	4h	96.290	+0.052%	$27.6M	$20.1M	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	96.202	−0.039%	$9.3M	$7.7M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.220	−0.021%	$34K	$365K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.310	+0.073%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	96.330	+0.094%	$103K	$272K	15x
HTX BRENTOIL-USDT	0.0000%	4h	96.230	−0.010%	$306K	$249K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.390	+0.156%	$1.2M	$95K	100x	as long as short
BloFin BZ-USDT	+0.0003%	4h	96.280	+0.042%	$1.5M	$95K	50x	as long as short
edgeX BZUSDC	+0.0009%	4h	96.204	−0.037%	$220K	$234K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	96.840	+0.624%	—	—	—	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.346	+0.110%	$83K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0035%	8h	96.282	+0.044%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.33	+4.250%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0048%	1h	96.320	+0.083%	$33K	—	20x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.305	+0.068%	$151.1M	$144.1M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.336	+0.100%	$1.5M	$502K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.220	−0.021%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0088%	1h	96.310	+0.073%	$3.4M	$4.2M	20x	as long as short
Aftermath Perps BRENTUSD	+0.0095%	1h	96.086	−0.161%	$6K	$44K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.250	+0.010%	$3.8M	$988K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.230	−0.010%	$25K	$271K	50x	as long as short
Extended XBR-USD	+0.0192%	1h	96.316	+0.079%	$774K	$5.3M	10x	as long as short