Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: tradeXYZ against GRVT−0.009%7-day average +0.077% · you buy dearer than you sell

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$40as in the Price arb table

costs, in and out, $10k−$320.315% of the position

Long on GRVT Short on tradeXYZ

What this pair did over the last

the charts below follow

Funding, last 7 days+0.128%+$13 on $10k

Price spread, last 4 days (all we have)+0.006%+$1 · spread now −0.009%, 7d avg +0.077%

Together, before fees+0.134%+ Points / potential airdropGRVT: Active · tradeXYZ: Active · farm board+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. tradeXYZ is 0.086% cheaper against GRVT than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.077%). If the spread goes back, that is −$9 on $10k: about 5.7 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT BZ_USDT_Perp	97.162	0	get 0.0000% / 4h	1h 01m	$37K	$343K	25x
Short	tradeXYZ xyz:BRENTOIL	97.153	0.0050	get 0.0006% / 1h	1m 29s	$152.3M	$125.1M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

tradeXYZ 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 tradeXYZbpOrdersPrice spread, now −0.009%Rate

Funding earned: $10.5
Price spread: −0.009% → +0.077%: −$8.57
Slippage, 4 orders: −$4.52
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee tradeXYZ: 9 bp × 2 orders: −$18
Net: −$29.59
Costs to cover: 0.315%
Break-even: 26.7 days

Slippage from GRVT: live order book, 61 min ago; tradeXYZ: live order book, 8 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	0.52 bp	6.7 bp −$7	10.0 bp −$100	doesn't fit	doesn't fit
Sell tradeXYZ live order book, 8 min ago	0.21 bp	9.6 bp −$10	10.2 bp −$102	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	96.141	−1.051%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0104%	1h	96.990	−0.177%	$234K	$433K	15x	as long as short
BloFin BZ-USDT	−0.0002%	4h	97.140	−0.022%	$1.5M	$91K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.132	−0.030%	$337K	$969K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.175	+0.014%	$147.0M	$372.6M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.150	−0.012%	$10.3M	$13.1M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.150	−0.012%	$16.0M	$20.4M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.150	−0.013%	$2.3M	$1.3M	20x	as long as short
Hotstuff BRENTOIL-PERP	0.0000%	1h	97.160	−0.002%	$33K	—	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.090	−0.074%	$9.2M	$12.4M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDT	0.0000%	4h	97.170	+0.008%	$27.4M	$16.4M	100x	as long as short
Variational Omni BZ	0.0000%	4h	97.086	−0.078%	$9.4M	$7.0M	—	as long as short
GRVT BZ_USDT_Perplong	0.0000%	4h	97.162	long leg	$37K	$343K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.200	+0.039%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.180	+0.019%	$104K	$248K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.130	−0.033%	$279K	$268K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.170	+0.008%	$1.2M	$85K	100x	as long as short
edgeX BZUSDC	+0.0002%	4h	97.092	−0.072%	$223K	$228K	20x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	97.684	+0.538%	—	—	—	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.160	−0.002%	$3.3M	$4.8M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.165	+0.004%	$675K	$4.6M	10x	as long as short
Vest BZ-PERP	+0.0039%	1h	101.21	+4.166%	—	$735K	10x	as long as short
Paradex BZ-USD-PERP	+0.0050%	8h	97.152	−0.011%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOILshort	+0.0050%	1h	97.153	−0.009%	$152.3M	$125.1M	20x
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.218	+0.058%	$1.5M	$444K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.130	−0.033%	$3.1M	$1.1M	15x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.190	+0.029%	$3.8M	$871K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.130	−0.033%	$25K	$274K	50x	as long as short
Aftermath Perps BRENTUSD	+0.0119%	1h	97.145	−0.018%	$7K	$43K	5x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0187% / S +0.0021%	1h	97.175	+0.014%	$126K	—	111x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0298%	1h	97.160	−0.002%	$84K	$218K	20x	as long as short