Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0064%/8h= +7.0% APRpaid last 24h +0.006%

Price spread now: Hotstuff against GRVT+0.040%57s7-day average — · you sell dearer than you buy

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

Long on GRVT Short on Hotstuff

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropGRVT: Active · Hotstuff: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hotstuff is 0.040% dearer against GRVT than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 57 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	96.821	0	get 0.0000% / 4h	1h 34m	$37K	$343K	25x
Short	Hotstuff BRENTOIL-PERP	96.860	0.0064	get 0.0008% / 1h	34m 38s	$33K	—	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hotstuff 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 HotstuffbpOrdersPrice spread, now +0.040%Rate

Funding earned: $13.44
Price spread: +0.040% → 0.000%: $4.04
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Net: $3.48
Costs to cover: 0.140%
Break-even: 5.2 days

Slippage unknown: GRVT: live order book, 28 min ago; Hotstuff: 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, 28 min ago	0.52 bp	6.7 bp −$7	10.0 bp −$100	doesn't fit	doesn't fit
Sell Hotstuff no order-book sample	—	—	—	—	—

Hotstuff: 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	96.164	−0.678%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.850	+0.030%	$233K	$426K	15x	as long as short
Aster BZUSDT	0.0000%	4h	96.850	+0.030%	$336K	$984K	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.850	+0.030%	$146.6M	$374.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.820	−0.001%	$10.3M	$13.3M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.830	+0.009%	$15.9M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.836	+0.016%	$2.3M	$1.3M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	96.800	−0.022%	$9.2M	$12.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.850	+0.030%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.786	−0.036%	$9.3M	$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	96.821	long leg	$37K	$343K	25x
SunX BRENTOIL-USDT	0.0000%	4h	96.870	+0.051%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.840	+0.020%	$103K	$242K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.760	−0.063%	$278K	$269K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.850	+0.030%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0005%	4h	96.804	−0.017%	$222K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.391	+0.589%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.850	+0.030%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.855	+0.036%	$676K	$4.8M	10x	as long as short
Vest BZ-PERP	+0.0044%	1h	100.89	+4.203%	—	$735K	10x	as long as short
BloFin BZ-USDT	+0.0046%	4h	96.770	−0.053%	$1.5M	$86K	50x	as long as short
Paradex BZ-USD-PERP	+0.0049%	8h	96.846	+0.026%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.866	+0.047%	$151.8M	$125.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.900	+0.082%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	96.800	−0.022%	$3.1M	$1.1M	15x	as long as short
Hotstuff BRENTOIL-PERPshort	+0.0064%	1h	96.860	+0.040%	$33K	—	20x
KuCoin BZUSDTM	+0.0100%	4h	96.910	+0.092%	$3.8M	$872K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.810	−0.011%	$25K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0182% / S +0.0049%	1h	96.845	+0.025%	$126K	—	111x	as long as short
Aftermath Perps BRENTUSD	+0.0182%	1h	96.864	+0.044%	$7K	$44K	5x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0299%	1h	96.870	+0.050%	$83K	$218K	20x	as long as short