BZ

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0311%/8h= −34.1% APRnext payment −$0.39 per $10,000 · paid last 24h −0.008%

Price spread now: Deribit against GMX−0.005%7-day average +0.011% · you buy dearer than you sell

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

Long on GMX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.298%−$30 on $10k

Price spread, last 4 days (all we have)+0.005%+$1 · spread now −0.005%, 7d avg +0.011%

Together, before fees−0.293%−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRENTOIL/USD [ETH-USDC]	97.515	L +0.0311% / S −0.2526%	pay 0.0039% / 1h	31m 37s	$115K	—	111x
Short	Deribit BRENTOIL_USDC-PERPETUAL	97.510	0	get 0.0000% / 1h	31m 37s	$101K	$249K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against GMX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 GMXbpFee DeribitbpOrdersPrice spread, now −0.005%Rate

Funding earned: −$65.31
Price spread: −0.005% → +0.011%: −$1.62
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$85.94
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Deribit: live order book, 17 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Deribit live order book, 17 min ago	0.51 bp	4.0 bp −$4	5.5 bp −$55	doesn't fit	doesn't fit

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.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective BRENT/USDC PERP	−0.0220%	1h	96.783	−0.751%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0096%	1h	97.530	+0.015%	$235K	$434K	15x	as long as short
BloFin BZ-USDT	−0.0007%	4h	97.530	+0.015%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.515	0.000%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.515	0.000%	$147.7M	$362.9M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.520	+0.005%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.520	+0.005%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.488	−0.028%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.470	−0.046%	$9.2M	$11.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.510	−0.005%	$28.0M	$16.5M	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	97.500	−0.015%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	97.507	−0.008%	$26K	$315K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.540	+0.026%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	97.510	−0.005%	$101K	$249K	15x
HTX BRENTOIL-USDT	0.0000%	4h	97.500	−0.015%	$280K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	−0.005%	$1.2M	$83K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.530	+0.016%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.059	+0.558%	—	—	—	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.510	−0.005%	$34K	—	20x	as long as short
edgeX BZUSDC	+0.0016%	4h	97.506	−0.009%	$224K	$228K	20x	as long as short
Vest BZ-PERP	+0.0018%	1h	101.57	+4.158%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.510	−0.005%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.521	+0.006%	$680K	$3.7M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.513	−0.002%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.538	+0.024%	$154.0M	$124.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.555	+0.041%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.470	−0.046%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0051%	1h	97.540	+0.025%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.520	+0.005%	$3.8M	$837K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.530	+0.015%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]long	L +0.0311% / S −0.2526%	1h	97.515	long leg	$115K	—	111x