Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0029%/8h= −3.1% APRpaid last 24h −0.017%

Price spread now: GMX against GRVT−0.024%7-day average −0.013% · you buy dearer than you sell

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

Long on GRVT Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.022%−$2 on $10k

Price spread, last 4 days (all we have)−0.270%−$27 · spread now −0.024%, 7d avg −0.013%

Together, before fees−0.291%+ Points / potential airdropGRVT: Active · farm board−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$1 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	97.018	0	get 0.0000% / 4h	1h 11m	$37K	$343K	25x
Short	GMX BRENTOIL/USD [ETH-USDC]	96.995	L +0.0185% / S +0.0029%	pay 0.0004% / 1h	11m 02s	$126K	—	111x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.024%Rate

Funding earned: −$6.03
Price spread: −0.024% → −0.013%: −$1.07
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$28.1
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 51 min ago; GMX: no order-book sample. 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 GRVT live order book, 51 min ago	0.52 bp	6.7 bp −$7	10.0 bp −$100	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	96.141	−0.904%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.029%	$234K	$433K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.982	−0.038%	$337K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.990	−0.029%	$146.6M	$372.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.980	−0.040%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.990	−0.029%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.993	−0.027%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.940	−0.081%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.000	−0.019%	$27.4M	$16.3M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.976	−0.044%	$9.4M	$7.1M	—	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_Perplong	0.0000%	4h	97.018	long leg	$37K	$343K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.010	−0.009%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.990	−0.029%	$103K	$247K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.970	−0.050%	$278K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.990	−0.029%	$1.2M	$86K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.543	+0.540%	—	—	—	as long as short
edgeX BZUSDC	+0.0012%	4h	96.993	−0.026%	$222K	$226K	20x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.000	−0.019%	$3.3M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.006	−0.012%	$675K	$4.7M	10x	as long as short
Vest BZ-PERP	+0.0040%	1h	101.07	+4.176%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.006	−0.013%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.000	−0.019%	$151.9M	$125.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.058	+0.041%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.970	−0.050%	$3.1M	$1.1M	15x	as long as short
BloFin BZ-USDT	+0.0053%	4h	97.010	−0.009%	$1.5M	$91K	50x	as long as short
Hotstuff BRENTOIL-PERP	+0.0064%	1h	97.030	+0.012%	$33K	—	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.050	+0.033%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.010	−0.009%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0133%	1h	96.996	−0.024%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]short	L +0.0185% / S +0.0029%	1h	96.995	−0.024%	$126K	—	111x
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.005	−0.014%	$84K	$218K	20x	as long as short