Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0161%/8h= −17.7% APRpaid last 24h +0.034%

Price spread now: KuCoin against GMX+0.067%7-day average +0.019% · you sell dearer than you buy

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

Long on GMX Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.178%+$18 on $10k

Price spread, last 4 days (all we have)+0.039%+$4 · spread now +0.067%, 7d avg +0.019%

Together, before fees+0.217%+$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.047% dearer against GMX than usual: you sell high and buy low (spread +0.067% now, against its 7-day average of +0.019%): +$5 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 23 hours. Mind the row above: over the last 3 days funding on this pair paid +0.178%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX BRENTOIL/USD [ETH-USDC]	97.315	L +0.0261% / S −0.1491%	pay 0.0033% / 1h	18m 51s	$115K	—	111x
Short	KuCoin BZUSDTM	97.380	0.0100	get 0.0050% / 4h	3h 18m	$3.8M	$852K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.067%Rate

Funding earned: −$33.85
Price spread: +0.067% → +0.019%: $4.73
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$53.11
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: 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 KuCoin live order book, 4 min ago	0.51 bp	12.0 bp −$12	38.3 bp −$383	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	96.628	−0.706%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.046%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.360	+0.046%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.361	+0.047%	$147.3M	$367.0M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.350	+0.036%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.360	+0.046%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.306	−0.009%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.310	−0.005%	$9.2M	$12.2M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.360	+0.046%	$28.0M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.278	−0.038%	$9.3M	$6.9M	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT BZ_USDT_Perp	0.0000%	4h	97.297	−0.019%	$29K	$307K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	97.330	+0.015%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.330	+0.015%	$104K	$246K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.290	−0.026%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.470	+0.159%	$1.2M	$82K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.865	+0.566%	—	—	—	as long as short
BloFin BZ-USDT	+0.0014%	4h	97.300	−0.015%	$1.5M	$91K	50x	as long as short
edgeX BZUSDC	+0.0018%	4h	97.273	−0.043%	$223K	$227K	20x	as long as short
Vest BZ-PERP	+0.0026%	1h	101.38	+4.177%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.330	+0.015%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.365	+0.051%	$680K	$4.0M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.324	+0.009%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.391	+0.078%	$153.8M	$125.9M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.352	+0.038%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.250	−0.067%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.339	+0.025%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0097%	1h	97.334	+0.020%	$7K	$43K	5x	as long as short
KuCoin BZUSDTMshort	+0.0100%	4h	97.380	+0.067%	$3.8M	$852K	50x
ApeX Omni BZUSDT	+0.0100%	1h	97.340	+0.026%	$26K	$274K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0136%	1h	97.320	+0.005%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]long	L +0.0261% / S −0.1491%	1h	97.315	long leg	$115K	—	111x