Funding arb · Price arb /

BZ

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.017%

Price spread now: Phemex against GRVT+0.010%7-day average +0.207% · you sell dearer than you buy

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

Long on GRVT Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days+0.460%+$46 on $10k

Price spread, last 3 days (all we have)+0.276%+$28 · spread now +0.010%, 7d avg +0.207%

Together, before fees+0.736%+ Points / potential airdropGRVT: Active · farm board+$74 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: Phemex is 0.197% cheaper against GRVT than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.207%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	96.460	0	get 0.0000% / 4h	3h 32m	$24K	$375K	25x
Short	Phemex XBRUSDT	96.470	0	get 0.0000% / 4h	3h 32m	$1.2M	$94K	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → +0.207%: −$19.7
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$40.7
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 40 min ago; Phemex: live order book, 5 min ago. 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, 40 min ago	0.52 bp	6.8 bp −$7	8.3 bp −$83	doesn't fit	doesn't fit
Sell Phemex live order book, 5 min ago	4.66 bp	doesn't fit	doesn't fit	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	95.669	−0.820%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0136%	1h	96.070	−0.404%	$232K	$468K	15x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L −0.0099% / S +0.0137%	1h	96.475	+0.016%	$33K	—	111x	as long as short
BloFin BZ-USDT	−0.0058%	4h	96.460	0.000%	$1.5M	$95K	50x	as long as short
Aster BZUSDT	0.0000%	4h	96.470	+0.010%	$335K	$1.2M	50x	as long as short
Binance BZUSDT	0.0000%	4h	96.490	+0.031%	$145.7M	$425.7M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.470	+0.010%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	96.470	+0.010%	$15.9M	$25.3M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	96.452	−0.009%	$2.2M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	96.470	+0.010%	$33K	—	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate BZ_USDT	0.0000%	8h	96.440	−0.021%	$9.2M	$14.3M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	96.480	+0.021%	$27.6M	$19.8M	100x	as long as short
Variational Omni BZ	0.0000%	4h	96.460	0.000%	$9.3M	$7.5M	—	as long as short
GRVT BZ_USDT_Perplong	0.0000%	4h	96.460	long leg	$24K	$375K	25x
SunX BRENTOIL-USDT	0.0000%	4h	96.480	+0.021%	$4K	$2.6M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.510	+0.052%	$103K	$271K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.440	−0.021%	$307K	$229K	75x	as long as short
Phemex XBRUSDTshort	0.0000%	4h	96.470	+0.010%	$1.2M	$94K	100x
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.010	+0.570%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	96.470	+0.011%	$221K	$233K	20x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0020%	1h	96.490	+0.032%	$83K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0026%	1h	96.400	−0.062%	$3.1M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0032%	1h	96.470	+0.010%	$3.4M	$4.3M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	96.480	+0.021%	$749K	$5.4M	10x	as long as short
Paradex BZ-USD-PERP	+0.0042%	8h	96.440	−0.021%	$3K	$521	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.53	+4.219%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.504	+0.046%	$151.5M	$142.3M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.511	+0.053%	$1.5M	$511K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.500	+0.041%	$3.8M	$986K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.480	+0.021%	$25K	$272K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0453%	1h	96.489	+0.031%	$7K	$45K	5x	as long as short