Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Gate against GRVT+0.022%51s7-day average −0.063% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

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

costs, in and out, $10k−$430.425% of the position

Long on GRVT Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.022%, 7d avg −0.063%

Together, before fees−0.168%+ Points / potential airdropGRVT: Active · farm board−$17 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: Gate is 0.085% dearer against GRVT than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.063%. The two prices were read 51 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	97.128	0	get 0.0000% / 4h	3h 56m	$29K	$346K	25x
Short	Gate BZ_USDT	97.150	0	get 0.0000% / 8h	3h 56m	$9.2M	$12.1M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now +0.022%Rate

Funding earned: $0
Price spread: +0.022% → −0.063%: $8.51
Slippage, 4 orders: −$18.52
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$34
Costs to cover: 0.425%
Break-even: never at this rate

Slippage from GRVT: live order book, 61 min ago; Gate: live order book, 2 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, 61 min ago	0.51 bp	14.9 bp −$15	19.7 bp −$197	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	1.03 bp	11.7 bp −$12	19.3 bp −$193	33.2 bp −$3,322	45.9 bp −$23.0K

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	96.333	−0.819%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.050	−0.081%	$233K	$438K	15x	as long as short
Hotstuff BRENTOIL-PERP	−0.0056%	1h	97.220	+0.094%	$33K	—	20x	as long as short
BloFin BZ-USDT	−0.0047%	4h	97.200	+0.074%	$1.5M	$92K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.186	+0.059%	$338K	$933K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.201	+0.074%	$147.2M	$369.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.170	+0.043%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.180	+0.053%	$16.0M	$20.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.177	+0.050%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDTshort	0.0000%	8h	97.150	+0.022%	$9.2M	$12.1M	100x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.180	+0.053%	$27.8M	$16.6M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.028	−0.103%	$9.4M	$6.8M	—	as long as short
GRVT BZ_USDT_Perplong	0.0000%	4h	97.128	long leg	$29K	$346K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.190	+0.063%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.200	+0.074%	$104K	$238K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.080	−0.050%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.190	+0.063%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0011%	4h	97.094	−0.035%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.738	+0.628%	—	—	—	as long as short
Vest BZ-PERP	+0.0031%	1h	101.23	+4.223%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.200	+0.074%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.202	+0.076%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.185	+0.058%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.227	+0.101%	$153.4M	$126.8M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.237	+0.112%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.110	−0.019%	$3.1M	$1.1M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.223	+0.098%	$84K	$206K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.220	+0.094%	$3.8M	$868K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.110	−0.019%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0120%	1h	97.112	−0.016%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0225% / S −0.0234%	1h	97.195	+0.069%	$126K	—	111x	as long as short