Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0006%/8h= +0.7% APRpaid last 24h −0.028%

Price spread now: Deribit against GRVT+0.445%75s7-day average −0.008% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$240.243% of the position

Long on GRVT Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.423%−$42 on $10k

Price spread, last 4 days (all we have)−0.563%−$56 · spread now +0.445%, 7d avg −0.008%

Together, before fees−0.986%+ Points / potential airdropGRVT: Active · farm board−$99 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Deribit is 0.453% dearer against GRVT than usual: you sell high and buy low, +$45 on $10k if it goes back to its 7-day average of −0.008%. The two prices were read 75 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	94.370	−0.0006	get 0.0003% / 4h	50m 06s	$16K	$307K	25x
Short	Deribit BRENTOIL_USDC-PERPETUAL	94.790	0	get 0.0000% / 1h	50m 06s	$29K	$384K	15x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.445%Rate

Funding earned: $1.26
Price spread: +0.445% → −0.008%: $45.26
Slippage, 4 orders: −$8.35
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $22.17
Costs to cover: 0.243%
Break-even: from the start

Slippage from GRVT: live order book, 55 min ago; Deribit: live order book, 57 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, 55 min ago	0.53 bp	7.1 bp −$7	10.1 bp −$101	doesn't fit	doesn't fit
Sell Deribit live order book, 57 min ago	0.53 bp	6.1 bp −$6	6.3 bp −$63	doesn't fit	doesn't fit

BZ on 31 exchanges

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
RISEx BZ/USDC	−0.0384%	1h	94.422	+0.055%	$2.2M	$2.6M	20x	as long as short
Kraken Futures PF_BRENTOILUSD	−0.0336%	1h	94.633	+0.279%	$108K	$275K	20x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0080%	1h	94.990	+0.657%	$252K	$1.0M	15x	as long as short
Bybit BZUSDT	−0.0058%	8h	94.880	+0.540%	$10.4M	$17.8M	100x	as long as short
BloFin BZ-USDT	−0.0048%	4h	94.420	+0.053%	$1.5M	$123K	50x	as long as short
Binance BZUSDT	−0.0023%	4h	94.930	+0.593%	$146.2M	$470.8M	100x	as long as short
edgeX BZUSDC	−0.0015%	4h	94.347	−0.025%	$217K	$230K	20x	as long as short
GRVT BZ_USDT_Perplong	−0.0006%	4h	94.370	long leg	$16K	$307K	25x
Aster BZUSDT	0.0000%	4h	94.977	+0.644%	$326K	$682K	50x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	94.830	+0.487%	$15.7M	$29.8M	50x	as long as short

Show all 31 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	94.830	+0.487%	$8.9M	$13.0M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	94.920	+0.583%	$27.6M	$31.0M	100x	as long as short
Variational Omni BZ	0.0000%	4h	94.410	+0.042%	$8.9M	$6.7M	—	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	94.890	+0.551%	$4K	$1.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUALshort	0.0000%	1h	94.790	+0.445%	$29K	$384K	15x
HTX BRENTOIL-USDT	0.0000%	4h	95.000	+0.668%	$243K	$312K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	94.960	+0.625%	$1.2M	$101K	100x	as long as short
Aftermath Perps BRENTUSD	+0.0011%	1h	94.346	−0.025%	$7K	$37K	5x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	94.948	+0.612%	—	—	—	as long as short
Vest BZ-PERP	+0.0017%	1h	98.100	+3.953%	—	$736K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	95.020	+0.689%	$3.5M	$5.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	94.832	+0.490%	$767K	$3.9M	10x	as long as short
Injective BRENT/USDC PERP	+0.0033%	1h	94.836	+0.494%	$8K	$7K	30x	as long as short
Paradex BZ-USD-PERP	+0.0038%	8h	94.471	+0.107%	$2K	$2K	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	94.480	+0.117%	$140.8M	$184.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	94.452	+0.087%	$1.5M	$505K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	94.380	+0.011%	$3.0M	$1.2M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	94.680	+0.328%	$3.4M	$1.1M	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	94.420	+0.053%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0166% / S −0.0429%	1h	94.425	+0.058%	$22K	—	111x	as long as short
Hotstuff BRENTOIL-PERP	+0.0184%	1h	94.480	+0.117%	$33K	—	20x	as long as short