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: SunX against GMX+0.016%7-day average +0.020% · you sell dearer than you buy

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

Long on GMX Short on SunX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.018%+$2 on $10k

Price spread, last 3 days (all we have)−0.004%$0 · spread now +0.016%, 7d avg +0.020%

Together, before fees+0.014%+$1 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.020%, 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 0.018% in total (about 2.1% 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]	96.035	L −0.0848% / S +0.0467%	get 0.0106% / 1h	6m 37s	$120K	—	111x
Short	SunX BRENTOIL-USDT	96.050	0	get 0.0000% / 4h	1h 06m	$4K	$2.7M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.016%Rate

Funding earned: $178
Price spread: +0.016% → +0.020%: −$0.42
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: $157.58
Costs to cover: 0.200%
Break-even: 0.8 days

Slippage unknown: GMX: no order-book sample; SunX: live order book, 10 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 SunX live order book, 10 min ago	18.74 bp	26.7 bp −$27	35.3 bp −$353	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 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	96.035	long leg	$120K	—	111x
Injective BRENT/USDC PERP	−0.0220%	1h	95.249	−0.818%	$8K	$7K	30x	as long as short
RISEx BZ/USDC	−0.0075%	1h	96.023	−0.013%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	−0.0048%	1h	96.050	+0.016%	$33K	—	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0016%	1h	96.050	+0.016%	$232K	$624K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.024	−0.012%	$334K	$1.5M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.040	+0.005%	$145.7M	$471.8M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.050	+0.016%	$10.4M	$15.9M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.030	−0.005%	$15.8M	$27.0M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.990	−0.047%	$9.2M	$18.0M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	96.030	−0.005%	$27.4M	$21.1M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.032	−0.003%	$9.2M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.009	−0.028%	$34K	$388K	25x	as long as short
SunX BRENTOIL-USDTshort	0.0000%	4h	96.050	+0.016%	$4K	$2.7M	20x
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.070	+0.036%	$103K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	95.990	−0.047%	$305K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.100	+0.068%	$1.2M	$96K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0013%	1h	96.061	+0.027%	$6K	$45K	5x	as long as short
edgeX BZUSDC	+0.0013%	4h	96.028	−0.007%	$220K	$233K	20x	as long as short
Paradex BZ-USD-PERP	+0.0022%	8h	96.026	−0.010%	$3K	$521	5x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.040	+0.005%	$3.3M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	95.961	−0.077%	$670K	$5.2M	10x	as long as short
Vest BZ-PERP	+0.0046%	1h	99.840	+3.962%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0048%	4h	96.040	+0.005%	$1.5M	$95K	50x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.052	+0.018%	$147.8M	$145.6M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.091	+0.058%	$1.5M	$529K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.000	−0.036%	$3.0M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.050	+0.016%	$3.7M	$996K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.050	+0.016%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0555%	1h	96.074	+0.041%	$81K	$235K	20x	as long as short