Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0467%/8h= −51.1% APRpaid last 24h +0.006%

Price spread now: GMX against Gate+0.057%7-day average +0.048% · you sell dearer than you buy

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

Long on Gate Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.126%+$13 on $10k

Price spread, last 3 days (all we have)−0.093%−$9 · spread now +0.057%, 7d avg +0.048%

Together, before fees+0.033%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: −$14 a day on $10k at the current rate. Mind the row above: over the last 3 days funding on this pair paid +0.126%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.126% in total (about 14.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BZ_USDT	95.890	0	get 0.0000% / 8h	1h 30m	$9.2M	$18.0M	100x
Short	GMX BRENTOIL/USD [ETH-USDC]	95.945	L −0.0848% / S +0.0467%	pay 0.0058% / 1h	30m 01s	$120K	—	29x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now +0.057%Rate

Funding earned: −$98
Price spread: +0.057% → +0.048%: $0.93
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee GMX: 6 bp × 2 orders: −$12
Net: −$124.06
Costs to cover: 0.270%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 4 min ago; GMX: no order-book sample. 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 Gate live order book, 4 min ago	1.57 bp	13.0 bp −$13	20.8 bp −$208	31.2 bp −$3,116	42.4 bp −$21.2K
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BZ on 30 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]short	L −0.0848% / S +0.0467%	1h	95.945	+0.057%	$120K	—	29x
Ondo Perps BRENT-USD.P	−0.0246%	1h	95.900	+0.010%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.838%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.930	+0.042%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.167%	$232K	$661K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.936	+0.048%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.950	+0.063%	$145.6M	$480.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	+0.031%	$10.2M	$16.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.940	+0.052%	$15.8M	$27.5M	50x	as long as short
Gate BZ_USDTlong	0.0000%	8h	95.890	long leg	$9.2M	$18.0M	100x

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	95.910	+0.021%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	+0.024%	$9.2M	$8.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.920	+0.031%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.960	+0.073%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.970	+0.083%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.860	−0.031%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.940	+0.052%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.924	+0.035%	$220K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0003%	1h	95.923	+0.035%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0005%	8h	95.933	+0.044%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	+0.052%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.903	+0.014%	$670K	$5.3M	10x	as long as short
BloFin BZ-USDT	+0.0045%	4h	95.900	+0.010%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.01	+4.297%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.966	+0.079%	$147.5M	$146.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.004	+0.119%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.950	+0.063%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	+0.031%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	95.980	+0.094%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.994	+0.109%	$81K	$240K	20x	as long as short