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Funding arb · Price arb /

BZ

RWAall BZ markets
SwapBacktest
Alert: funding
Measured
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Alert: spread
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

Funding you earn now, next payment 09:00 UTC−0.0328%/8h= −35.9% APRpaid last 24h −0.004%
Price spread now: Binance against GMX+0.077%7-day average +0.032% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Long on GMXShort on Binance
What this pair did over the last
the charts below follow
Funding, last 4 days (all we have)+0.104%+$10 on $10k
Price spread, last 4 days (all we have)+0.050%+$5 · spread now +0.077%, 7d avg +0.032%
Together, before fees+0.153%+$15 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Binance is 0.045% dearer against GMX than usual: you sell high and buy low (spread +0.077% now, against its 7-day average of +0.032%): +$5 on $10k if it goes back. Holding the pair costs −$10 a day in funding at the current rate, which eats that in about 11 hours. Mind the row above: over the last 4 days funding on this pair paid +0.104%, 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 4 days it paid 0.104% in total (about 10.8% 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.
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongGMX BRENTOIL/USD [ETH-USDC]97.295L +0.0328% / S −0.2771%pay 0.0041% / 1h46m 41s$115K—111x
ShortBinance BZUSDT97.3700get 0.0000% / 4h3h 46m$148.8M$352.7M100x

Funding history

latest
Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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

Funding earned
−$68.84
Price spread: +0.077% → +0.032%
$4.51
Slippage, 4 orders
no order book: not counted
Fee GMX: 6 bp × 2 orders
−$12
Fee Binance: 5 bp × 2 orders
−$10
Net
−$86.33
Costs to cover
0.220%
Break-even
never at this rate
Slippage unknown: GMX: no order-book sample; Binance: live order book, 12 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy GMX no order-book sample—————
Sell Binance live order book, 12 min ago0.51 bp5.5 bp −$66.4 bp −$6413.1 bp −$1,31258.7 bp −$29.4K
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 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Deribit BRENTOIL_USDC-PERPETUAL−0.0264%1h97.290−0.005%$100K$259K15xas long as short
Injective BRENT/USDC PERP−0.0220%1h96.342−0.979%$8K$7K30xas long as short
Ondo Perps BRENT-USD.P−0.0078%1h97.230−0.067%$3.1M$990K15xas long as short
Coinbase International BRENTOIL-PERP-INTX−0.0056%1h97.480+0.190%$237K$402K15xas long as short
RISEx BZ/USDC−0.0039%1h97.283−0.013%$2.4M$1.7M20xas long as short
GRVT BZ_USDT_Perp−0.0034%4h97.302+0.007%$14K$332K25xas long as short
Hotstuff BRENTOIL-PERP−0.0024%1h97.320+0.026%$34K—20xas long as short
Kraken Futures PF_BRENTOILUSD−0.0002%1h97.311+0.016%$82K$200K20xas long as short
Aster BZUSDT0.0000%4h97.356+0.063%$339K$761K50xas long as short
Binance BZUSDTshort0.0000%4h97.370+0.077%$148.8M$352.7M100x
Show all 31 venues
ExchangeFunding /8hEveryPricePrice vs long legOIVol 24hMax lev
Bybit BZUSDT0.0000%8h97.340+0.046%$10.3M$13.3M100xas long as short
OKX BZ-USDT-SWAP0.0000%4h97.350+0.057%$16.1M$19.8M50xas long as short
Gate BZ_USDT0.0000%8h97.260−0.036%$9.2M$10.3M100xas long as short
Bitget BZUSDT0.0000%4h97.350+0.057%$27.9M$18.7M100xas long as short
Variational Omni BZ0.0000%4h97.269−0.027%$9.4M$6.2M—as long as short
SunX BRENTOIL-USDT0.0000%4h97.300+0.005%$4K$2.4M20xas long as short
HTX BRENTOIL-USDT0.0000%4h97.270−0.026%$279K$251K75xas long as short
Phemex XBRUSDT0.0000%4h97.440+0.149%$1.2M$85K100xas long as short
edgeX BZUSDC+0.0009%4h97.270−0.025%$223K$229K20xas long as short
Vest BZ-PERP+0.0010%1h101.27+4.086%—$735K10xas long as short
gTrade (Gains Network) BRENT/USDL +0.0011% / S −0.0011%1h97.852+0.572%———as long as short
BloFin BZ-USDT+0.0028%4h97.270−0.026%$1.5M$99K50xas long as short
Lighter BRENTOIL+0.0032%1h97.350+0.057%$3.3M$4.1M20xas long as short
Extended XBR-USD+0.0032%1h97.342+0.048%$747K$2.8M10xas long as short
Paradex BZ-USD-PERP+0.0049%8h97.359+0.066%$2K$1K5xas long as short
tradeXYZ xyz:BRENTOIL+0.0050%1h97.389+0.097%$155.4M$115.8M20xas long as short
Polymarket Perps BRENTOIL-USD+0.0050%1h97.310+0.015%$1.6M$370K20xas long as short
Aftermath Perps BRENTUSD+0.0076%1h97.329+0.035%$7K$40K5xas long as short
KuCoin BZUSDTM+0.0100%4h97.290−0.005%$3.8M$798K50xas long as short
ApeX Omni BZUSDT+0.0100%1h97.330+0.036%$26K$273K50xas long as short
GMX BRENTOIL/USD [ETH-USDC]longL +0.0328% / S −0.2771%1h97.295long leg$115K—111x