Funding arb · Price arb /

BZ

RWAall BZ markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0048%/8h= −5.3% APRpaid last 24h −0.006%

Price spread now: GRVT against Hotstuff−0.041%7-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 GRVT

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 airdropHotstuff: Active · GRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and GRVT is 0.041% cheaper against Hotstuff than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hotstuff BRENTOIL-PERP	97.490	0.0048	pay 0.0006% / 1h	59m 40s	$34K	—	20x
Short	GRVT BZ_USDT_Perp	97.450	0	get 0.0000% / 4h	2h 59m	$26K	$314K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$10.08
Price spread: −0.041% → 0.000%: −$4.1
Slippage, 4 orders: no order book: not counted
Fee Hotstuff: 2.5 bp × 2 orders: −$5
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$28.18
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Hotstuff: no order-book sample; GRVT: live order book, 53 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 GRVT live order book, 53 min ago	0.51 bp	7.7 bp −$8	11.1 bp −$111	doesn't fit	doesn't fit

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	96.536	−0.979%	$8K	$7K	30x	as long as short
Coinbase International BRENTOIL-PERP-INTX	−0.0088%	1h	97.460	−0.031%	$237K	$443K	15x	as long as short
BloFin BZ-USDT	−0.0010%	4h	97.450	−0.041%	$1.5M	$97K	50x	as long as short
Aster BZUSDT	0.0000%	4h	97.463	−0.028%	$339K	$930K	50x	as long as short
Binance BZUSDT	0.0000%	4h	97.470	−0.021%	$147.4M	$366.4M	100x	as long as short
Bybit BZUSDT	0.0000%	8h	97.460	−0.031%	$10.4M	$12.6M	100x	as long as short
OKX BZ-USDT-SWAP	0.0000%	4h	97.480	−0.010%	$16.1M	$20.5M	50x	as long as short
RISEx BZ/USDC	0.0000%	1h	97.456	−0.035%	$2.4M	$1.7M	20x	as long as short
Gate BZ_USDT	0.0000%	8h	97.440	−0.051%	$9.2M	$11.6M	100x	as long as short
Bitget BZUSDT	0.0000%	4h	97.480	−0.010%	$28.0M	$16.6M	100x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni BZ	0.0000%	4h	97.418	−0.074%	$9.3M	$6.9M	—	as long as short
GRVT BZ_USDT_Perpshort	0.0000%	4h	97.450	−0.041%	$26K	$314K	25x
SunX BRENTOIL-USDT	0.0000%	4h	97.490	0.000%	$4K	$2.5M	20x	as long as short
Deribit BRENTOIL_USDC-PERPETUAL	0.0000%	1h	97.480	−0.010%	$101K	$249K	15x	as long as short
HTX BRENTOIL-USDT	0.0000%	4h	97.420	−0.072%	$280K	$264K	75x	as long as short
Phemex XBRUSDT	0.0000%	4h	97.510	+0.021%	$1.2M	$83K	100x	as long as short
gTrade (Gains Network) BRENT/USD	L +0.0011% / S −0.0011%	1h	98.019	+0.543%	—	—	—	as long as short
edgeX BZUSDC	+0.0014%	4h	97.430	−0.062%	$224K	$228K	20x	as long as short
Vest BZ-PERP	+0.0022%	1h	101.52	+4.134%	—	$735K	10x	as long as short
Lighter BRENTOIL	+0.0032%	1h	97.480	−0.010%	$3.2M	$4.6M	20x	as long as short
Extended XBR-USD	+0.0032%	1h	97.489	−0.001%	$680K	$3.9M	10x	as long as short
Hotstuff BRENTOIL-PERPlong	+0.0048%	1h	97.490	long leg	$34K	—	20x
Paradex BZ-USD-PERP	+0.0050%	8h	97.467	−0.024%	$3K	$336	5x	as long as short
tradeXYZ xyz:BRENTOIL	+0.0050%	1h	97.487	−0.003%	$153.8M	$125.7M	20x	as long as short
Polymarket Perps BRENTOIL-USD	+0.0050%	1h	97.480	−0.010%	$1.6M	$463K	20x	as long as short
Ondo Perps BRENT-USD.P	+0.0050%	1h	97.410	−0.082%	$3.1M	$1.0M	15x	as long as short
Kraken Futures PF_BRENTOILUSD	+0.0063%	1h	97.480	−0.010%	$82K	$208K	20x	as long as short
Aftermath Perps BRENTUSD	+0.0073%	1h	97.478	−0.012%	$7K	$42K	5x	as long as short
KuCoin BZUSDTM	+0.0100%	4h	97.550	+0.062%	$3.8M	$843K	50x	as long as short
ApeX Omni BZUSDT	+0.0100%	1h	97.470	−0.021%	$26K	$274K	50x	as long as short
GMX BRENTOIL/USD [ETH-USDC]	L +0.0281% / S −0.1910%	1h	97.455	−0.036%	$115K	—	111x	as long as short