Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0184%/8h= −20.1% APRpaid last 24h +0.010%

Price spread now: Hotstuff against Gate+0.073%7-day average — · you sell dearer than you buy

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

Long on Gate Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHotstuff: Active · farm boardneeds both histories

The price spread pays, funding is against you. Hotstuff is 0.073% dearer against Gate than usual: you sell high and buy low (spread +0.073% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BZ_USDT	95.850	0	get 0.0000% / 8h	1h 38m	$9.2M	$18.0M	100x
Short	Hotstuff BRENTOIL-PERP	95.920	−0.0184	pay 0.0023% / 1h	38m 44s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.073%Rate

Funding earned: −$38.64
Price spread: +0.073% → 0.000%: $7.3
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: −$51.34
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 5 min ago; Hotstuff: 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, 5 min ago	1.04 bp	14.2 bp −$14	20.6 bp −$206	31.2 bp −$3,119	42.6 bp −$21.3K
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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
Ondo Perps BRENT-USD.P	−0.0438%	1h	95.870	+0.021%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.248	−0.628%	$8K	$7K	30x	as long as short
Hotstuff BRENTOIL-PERPshort	−0.0184%	1h	95.920	+0.073%	$33K	—	20x
GMX BRENTOIL/USD [ETH-USDC]	L −0.0099% / S +0.0137%	1h	95.895	+0.047%	$33K	—	29x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.882	+0.033%	$2.2M	$1.3M	20x	as long as short
BloFin BZ-USDT	−0.0039%	4h	95.880	+0.031%	$1.5M	$95K	50x	as long as short
Lighter BRENTOIL	−0.0016%	1h	95.900	+0.052%	$3.3M	$4.2M	20x	as long as short
GRVT BZ_USDT_Perp	−0.0016%	4h	95.879	+0.031%	$34K	$388K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.209%	$232K	$661K	15x	as long as short
Paradex BZ-USD-PERP	−0.0004%	8h	95.918	+0.071%	$3K	$521	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster BZUSDT	0.0000%	4h	95.910	+0.063%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.900	+0.052%	$145.4M	$480.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.900	+0.052%	$10.2M	$16.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.880	+0.031%	$15.8M	$27.6M	50x	as long as short
Gate BZ_USDTlong	0.0000%	8h	95.850	long leg	$9.2M	$18.0M	100x
Bitget BZUSDT	0.0000%	4h	95.900	+0.052%	$27.4M	$22.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.874	+0.025%	$9.2M	$8.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.920	+0.073%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.930	+0.083%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.840	−0.010%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.900	+0.052%	$1.2M	$100K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0005%	1h	95.884	+0.036%	$5K	$45K	5x	as long as short
edgeX BZUSDC	+0.0013%	4h	95.872	+0.023%	$219K	$233K	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.894	+0.046%	$670K	$5.3M	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0040%	1h	95.933	+0.087%	$147.5M	$146.5M	20x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.26	+4.601%	—	$735K	10x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.964	+0.119%	$1.5M	$526K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.920	+0.073%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.900	+0.052%	$25K	$271K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0556%	1h	95.916	+0.068%	$81K	$240K	20x	as long as short