Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0848%/8h= +92.8% APRpaid last 24h −0.022%

Price spread now: Gate against GMX−0.047%7-day average −0.048% · you buy dearer than you sell

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

Long on GMX Short on Gate

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.031%−$3 on $10k

Price spread, last 3 days (all we have)+0.082%+$8 · spread now −0.047%, 7d avg −0.048%

Together, before fees+0.051%+$5 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: +$25 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.031% in total (about -3.6% 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	GMX BRENTOIL/USD [ETH-USDC]	95.945	L −0.0848% / S +0.0467%	get 0.0106% / 1h	29m 47s	$120K	—	29x
Short	Gate BZ_USDT	95.900	0	get 0.0000% / 8h	1h 29m	$9.2M	$18.0M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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

Position, each leg$Hold fordaysFee GMXbpFee GatebpOrdersPrice spread, now −0.047%Rate

Funding earned: $178
Price spread: −0.047% → −0.048%: $0.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: $151.11
Costs to cover: 0.270%
Break-even: 1.1 days

Slippage unknown: GMX: no order-book sample; Gate: live order book, 4 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 Gate live order book, 4 min ago	1.57 bp	15.3 bp −$15	23.3 bp −$233	31.6 bp −$3,165	44.4 bp −$22.2K

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]long	L −0.0848% / S +0.0467%	1h	95.945	long leg	$120K	—	29x
Ondo Perps BRENT-USD.P	−0.0246%	1h	95.900	−0.047%	$3.0M	$1.1M	15x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.086	−0.895%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	95.930	−0.016%	$2.2M	$1.3M	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.109%	$232K	$661K	15x	as long as short
Aster BZUSDT	0.0000%	4h	95.937	−0.008%	$333K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.960	+0.016%	$145.6M	$480.2M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	95.920	−0.026%	$10.2M	$16.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.940	−0.005%	$15.8M	$27.5M	50x	as long as short
Gate BZ_USDTshort	0.0000%	8h	95.900	−0.047%	$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	−0.036%	$27.4M	$21.9M	100x	as long as short
Variational Omni BZ	0.0000%	4h	95.913	−0.033%	$9.2M	$8.3M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	95.920	−0.026%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	95.960	+0.016%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	95.970	+0.026%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.860	−0.089%	$305K	$259K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	95.940	−0.005%	$1.2M	$100K	100x	as long as short
edgeX BZUSDC	+0.0001%	4h	95.924	−0.022%	$220K	$234K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0003%	1h	95.923	−0.022%	$5K	$45K	5x	as long as short
Paradex BZ-USD-PERP	+0.0005%	8h	95.933	−0.013%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.940	−0.005%	$3.3M	$4.2M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.903	−0.043%	$670K	$5.3M	10x	as long as short
BloFin BZ-USDT	+0.0045%	4h	95.900	−0.047%	$1.5M	$95K	50x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.01	+4.237%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	95.974	+0.030%	$147.5M	$146.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.004	+0.061%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	95.950	+0.005%	$3.7M	$1.0M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	95.920	−0.026%	$25K	$271K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0128%	1h	95.980	+0.036%	$33K	—	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	95.994	+0.052%	$81K	$240K	20x	as long as short