Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0063%/8h= +6.9% APRpaid last 24h +0.024%

Price spread now: Kraken Futures against GRVT+0.080%7-day average −0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$136as in the Funding arb table

Net, price: spread back to 7d avg − costs−$39as in the Price arb table

costs, in and out, $10k−$470.469% of the position

Long on GRVT Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.893%−$89 on $10k

Price spread, last 4 days (all we have)−0.283%−$28 · spread now +0.080%, 7d avg −0.003%

Together, before fees−1.176%+ Points / potential airdropGRVT: Active · farm board−$118 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Kraken Futures is 0.083% dearer against GRVT than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of −0.003%. Mind the row above: over the last 7 days funding on this pair cost −0.893%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	97.351	0	get 0.0000% / 4h	3h 47m	$29K	$346K	25x
Short	Kraken Futures PF_BRENTOILUSD	97.429	0.0063	get 0.0008% / 1h	47m 33s	$82K	$208K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.080%Rate

Funding earned: $13.29
Price spread: +0.080% → −0.003%: $8.3
Slippage, 4 orders: −$27.85
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$25.26
Costs to cover: 0.469%
Break-even: 20.3 days

Slippage from GRVT: live order book, 5 min ago; Kraken Futures: live order book, 5 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, 5 min ago	0.51 bp	5.9 bp −$6	9.9 bp −$99	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	4.42 bp	17.8 bp −$18	35.3 bp −$353	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	96.333	−1.046%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.270	−0.083%	$233K	$439K	15x	as long as short
Aster BZUSDT	0.0000%	4h	97.395	+0.045%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.390	+0.040%	$147.6M	$368.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.390	+0.040%	$10.4M	$12.7M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.400	+0.050%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.380	+0.030%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.360	+0.009%	$9.2M	$12.1M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.420	+0.071%	$27.9M	$16.7M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.258	−0.096%	$9.4M	$6.8M	—	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	97.351	long leg	$29K	$346K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.460	+0.112%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.420	+0.071%	$104K	$240K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.160	−0.196%	$279K	$267K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.410	+0.061%	$1.2M	$84K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.313	−0.039%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.953	+0.618%	—	—	—	as long as short
BloFin BZ-USDT	+0.0013%	4h	97.360	+0.009%	$1.5M	$92K	50x	as long as short
Vest BZ-PERP	+0.0030%	1h	101.44	+4.200%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.400	+0.050%	$3.2M	$4.7M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.406	+0.056%	$679K	$4.2M	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.394	+0.044%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.431	+0.082%	$153.7M	$126.2M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.430	+0.081%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.360	+0.009%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSDshort	+0.0063%	1h	97.429	+0.080%	$82K	$208K	20x
KuCoin BZUSDTM	+0.0100%	4h	97.450	+0.102%	$3.8M	$869K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.350	−0.001%	$26K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0107%	1h	97.309	−0.043%	$7K	$43K	5x	as long as short
Hotstuff BRENTOIL-PERP	+0.0224%	1h	97.470	+0.122%	$34K	—	20x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0232% / S −0.0280%	1h	97.425	+0.076%	$127K	—	111x	as long as short