Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0096%/8h= −10.5% APRpaid last 24h −0.025%

Price spread now: Coinbase International against GRVT−0.129%7-day average −0.126% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on GRVT Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.211%−$21 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.129%, 7d avg −0.126%

Together, before fees−0.209%+ Points / potential airdropGRVT: Active · farm board−$21 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.126%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	97.656	0	get 0.0000% / 4h	2h 12m	$34K	$307K	25x
Short	Coinbase International BRENTOIL-PERP-INTX	97.530	−0.0096	pay 0.0012% / 1h	12m 30s	$235K	$430K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against GRVT. 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 GRVTbpFee Coinbase InternationalbpOrdersPrice spread, now −0.129%Rate

Funding earned: −$20.16
Price spread: −0.129% → −0.126%: −$0.33
Slippage, 4 orders: −$6.39
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$45.88
Costs to cover: 0.254%
Break-even: never at this rate

Slippage from GRVT: live order book, 35 min ago; Coinbase International: live order book, 36 min ago.

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 GRVT live order book, 35 min ago	0.51 bp	6.0 bp −$6	7.7 bp −$77	doesn't fit	doesn't fit
Sell Coinbase International live order book, 36 min ago	1.03 bp	6.0 bp −$6	8.2 bp −$82	doesn't fit	doesn't fit

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	96.939	−0.734%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTXshort	−0.0096%	1h	97.530	−0.129%	$235K	$430K	15x
BloFin BZ-USDT	−0.0030%	4h	97.690	+0.035%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.697	+0.042%	$340K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.693	+0.038%	$147.8M	$360.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.690	+0.035%	$10.3M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.700	+0.045%	$16.1M	$20.6M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.668	+0.013%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.660	+0.004%	$9.3M	$11.7M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.710	+0.055%	$27.7M	$17.0M	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	97.609	−0.048%	$9.4M	$6.9M	—	as long as short
GRVT BZ_USDT_Perplong	0.0000%	4h	97.656	long leg	$34K	$307K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.720	+0.066%	$4K	$2.4M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.710	+0.055%	$100K	$250K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.590	−0.067%	$280K	$254K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.680	+0.025%	$1.2M	$81K	100x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0009%	1h	97.707	+0.052%	$82K	$208K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.241	+0.599%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.617	−0.040%	$225K	$229K	20x	as long as short
Vest BZ-PERP	+0.0015%	1h	101.73	+4.172%	—	$735K	10x	as long as short
Hotstuff BRENTOIL-PERP	+0.0016%	1h	97.710	+0.055%	$34K	—	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.700	+0.045%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.696	+0.041%	$680K	$3.6M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.699	+0.044%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.712	+0.057%	$154.5M	$124.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.725	+0.071%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.670	+0.014%	$3.1M	$1.0M	15x	as long as short
Aftermath Perps BRENTUSD	+0.0069%	1h	97.638	−0.018%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.740	+0.086%	$3.8M	$832K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.660	+0.004%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0328% / S −0.2771%	1h	97.695	+0.040%	$116K	—	111x	as long as short