Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0232%/8h= −25.4% APRpaid last 24h −0.023%

Price spread now: Bitget against Hotstuff−0.104%56s7-day average — · you buy dearer than you sell

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

Long on Hotstuff Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

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

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Bitget is 0.104% cheaper against Hotstuff than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 56 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	Hotstuff BRENTOIL-PERP	96.100	0.0232	pay 0.0029% / 1h	53m 40s	$33K	—	20x
Short	Bitget BZUSDT	96.000	0	get 0.0000% / 4h	53m 40s	$27.4M	$21.2M	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hotstuff. 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 HotstuffbpFee BitgetbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$48.72
Price spread: −0.104% → 0.000%: −$10.41
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$76.13
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; Bitget: 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 Hotstuff no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	0.52 bp	8.0 bp −$8	10.7 bp −$107	27.7 bp −$2,765	79.0 bp −$39.5K

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 30 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
GMX BRENTOIL/USD [ETH-USDC]	L −0.0848% / S +0.0467%	1h	95.985	−0.120%	$120K	—	111x	as long as short
Injective BRENT/USDC PERP	−0.0220%	1h	95.369	−0.761%	$8K	$7K	30x	as long as short
BloFin BZ-USDT	−0.0058%	4h	96.090	−0.010%	$1.5M	$95K	50x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0040%	1h	96.060	−0.042%	$232K	$577K	15x	as long as short
RISEx BZ/USDC	−0.0020%	1h	95.986	−0.119%	$2.2M	$1.3M	20x	as long as short
Aster BZUSDT	0.0000%	4h	96.113	+0.013%	$334K	$1.4M	50x	as long as short
Binance BZUSDT	0.0000%	4h	95.983	−0.122%	$145.6M	$471.3M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	96.030	−0.073%	$10.4M	$16.0M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	95.970	−0.135%	$15.8M	$26.9M	50x	as long as short
Gate BZ_USDT	0.0000%	8h	95.960	−0.146%	$9.2M	$16.3M	100x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BZUSDTshort	0.0000%	4h	96.000	−0.104%	$27.4M	$21.2M	100x
Variational Omni BZ	0.0000%	4h	96.081	−0.020%	$9.3M	$8.2M	—	as long as short
GRVT BZ_USDT_Perp	0.0000%	4h	96.110	+0.011%	$34K	$375K	25x	as long as short
SunX BRENTOIL-USDT	0.0000%	4h	96.040	−0.062%	$4K	$2.7M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	96.020	−0.083%	$102K	$279K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	96.050	−0.052%	$306K	$253K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	96.060	−0.042%	$1.2M	$96K	100x	as long as short
edgeX BZUSDC	+0.0012%	4h	96.090	−0.010%	$220K	$232K	20x	as long as short
Paradex BZ-USD-PERP	+0.0025%	8h	95.988	−0.116%	$3K	$521	5x	as long as short
Aftermath Perps BRENTUSD	+0.0026%	1h	96.093	−0.008%	$6K	$45K	5x	as long as short
Vest BZ-PERP	+0.0046%	1h	100.10	+4.162%	—	$735K	10x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	96.079	−0.022%	$147.7M	$143.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	96.105	+0.005%	$1.5M	$529K	20x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	96.050	−0.052%	$3.8M	$992K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	96.130	+0.031%	$25K	$270K	50x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0113%	1h	96.014	−0.089%	$81K	$235K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0184%	1h	95.960	−0.146%	$3.0M	$1.1M	15x	as long as short
Lighter BRENTOIL	+0.0224%	1h	96.070	−0.031%	$3.3M	$4.3M	20x	as long as short
Hotstuff BRENTOIL-PERPlong	+0.0232%	1h	96.100	long leg	$33K	—	20x
Extended XBR-USD	+0.0336%	1h	96.009	−0.094%	$670K	$5.2M	10x	as long as short