Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0338%/8h= −37.1% APRpaid last 24h +0.008%

Price spread now: Kraken Futures against Gate+0.097%7-day average +0.062% · you sell dearer than you buy

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.552% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.779%−$78 on $10k

Price spread, last 4 days (all we have)−0.412%−$41 · spread now +0.097%, 7d avg +0.062%

Together, before fees−1.191%−$119 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.036% dearer against Gate than usual: you sell high and buy low (spread +0.097% now, against its 7-day average of +0.062%): +$4 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BZ_USDT	95.400	0	get 0.0000% / 8h	6h 58m	$9.2M	$10.9M	100x
Short	Kraken Futures PF_BRENTOILUSD	95.493	−0.0338	pay 0.0042% / 1h	58m 02s	$81K	$204K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.097%Rate

Funding earned: −$71.07
Price spread: +0.097% → +0.062%: $3.57
Slippage, 4 orders: −$30.17
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$122.67
Costs to cover: 0.552%
Break-even: never at this rate

Slippage from Gate: live order book, 1 min ago; Kraken Futures: live order book, 34 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	11.8 bp −$12	18.9 bp −$189	32.9 bp −$3,290	46.7 bp −$23.4K
Sell Kraken Futures live order book, 34 min ago	5.45 bp	16.2 bp −$16	31.9 bp −$319	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
Kraken Futures PF_BRENTOILUSDshort	−0.0338%	1h	95.493	+0.097%	$81K	$204K	20x
RISEx BZ/USDC	−0.0289%	1h	95.447	+0.049%	$2.3M	$1.8M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	−0.0274%	1h	95.450	+0.052%	$98K	$268K	15x	as long as short
GRVT BZ_USDT_Perp	−0.0132%	4h	95.210	−0.199%	$14K	$328K	25x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	95.320	−0.084%	$276K	$590K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0072%	1h	95.160	−0.252%	$33K	—	20x	as long as short
Ondo Perps BRENT-USD.P	−0.0045%	1h	95.370	−0.031%	$3.0M	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0043%	8h	95.350	−0.052%	$10.1M	$14.6M	100x	as long as short
Aster BZUSDT	0.0000%	4h	95.480	+0.084%	$329K	$702K	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.401	+0.001%	$146.4M	$392.7M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX BZ-USDT-SWAP	0.0000%	4h	95.450	+0.052%	$16.0M	$23.0M	50x	as long as short
Gate BZ_USDTlong	0.0000%	8h	95.400	long leg	$9.2M	$10.9M	100x
Bitget BZUSDT	0.0000%	4h	95.460	+0.063%	$27.9M	$22.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.237	−0.170%	$9.2M	$6.4M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.430	+0.031%	$4K	$2.1M	20x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.380	−0.021%	$273K	$263K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.550	+0.157%	$1.2M	$80K	100x	as long as short
Vest BZ-PERP	+0.0011%	1h	99.060	+3.836%	—	$735K	10x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	95.654	+0.266%	—	—	—	as long as short
edgeX BZUSDC	+0.0018%	4h	95.073	−0.342%	$218K	$232K	20x	as long as short
Paradex BZ-USD-PERP	+0.0027%	8h	95.466	+0.069%	$2K	$1K	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.450	+0.052%	$3.5M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.359	−0.043%	$751K	$2.7M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	96.342	+0.987%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	+0.0048%	4h	95.070	−0.346%	$1.5M	$102K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.480	+0.084%	$153.0M	$127.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	95.414	+0.015%	$1.6M	$386K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0053%	1h	95.389	−0.011%	$7K	$39K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.480	+0.084%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.320	−0.084%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0184% / S −0.0707%	1h	95.245	−0.162%	$33K	—	111x	as long as short